MAROBE: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
MAROBE
Largest movements
- Cash -€8,668
no longer reported in 2025 (was €8,668)
mainly Net result for the year (-€23,147) and Investment in fixed assets (net) (-€10,004)
- Tangible fixed assets +€7,477
up €7,477 (+164%), from €4,562 to €12,039
- Receivables within one year +€2,251
up €2,251 (+37.8%), from €5,952 to €8,202
of which Other amounts receivable: +€1,182
- Stocks and contracts -€853
down €853 (-2.4%), from €35,737 to €34,884
- Profit (loss) carried forward -€23,147
down €23,147 (-332%), from -€6,967 to -€30,115
- Other debts +€16,632
up €16,632 (+37.5%), from €44,362 to €60,993
- Trade debts +€4,861
up €4,861 (+34.7%), from €14,025 to €18,885
- Short-term financial debts +€1,862
new in 2025: €1,862
- Gross operating margin -€13,820
down €13,820 (-206%), from -€6,703 to -€20,523
- Depreciation +€2,328
up €2,328 (+1,175%), from €198 to €2,527
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €54,919 | €55,126 | +€207 | +0.4% |
| Fixed assets | 21/28 | €4,562 | €12,039 | +€7,477 | +164% |
| Tangible fixed assets | 22/27 | €4,562 | €12,039 | +€7,477 | +164% |
| Furniture and vehicles | 24 | €4,562 | €12,039 | +€7,477 | +164% |
| Current assets | 29/58 | €50,357 | €43,086 | -€7,271 | -14.4% |
| Stocks and contracts in progress | 3 | €35,737 | €34,884 | -€853 | -2.4% |
| Stocks | 30/36 | €35,737 | €34,884 | -€853 | -2.4% |
| Amounts receivable within one year | 40/41 | €5,952 | €8,202 | +€2,251 | +37.8% |
| Trade receivables | 40 | €2,699 | €3,768 | +€1,068 | +39.6% |
| Other amounts receivable | 41 | €3,252 | €4,435 | +€1,182 | +36.3% |
| Cash at bank and in hand | 54/58 | €8,668 | - | -€8,668 | |
| Total equity and liabilities | 10/49 | €54,919 | €55,126 | +€207 | +0.4% |
| Equity | 10/15 | -€3,467 | -€26,615 | -€23,147 | -668% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,967 | -€30,115 | -€23,147 | -332% |
| Amounts payable | 17/49 | €58,386 | €81,740 | +€23,354 | +40.0% |
| Amounts payable within one year | 42/48 | €58,386 | €81,740 | +€23,354 | +40.0% |
| Financial debts | 43 | - | €1,862 | +€1,862 | |
| Credit institutions | 430/8 | - | €1,862 | +€1,862 | |
| Trade debts | 44 | €14,025 | €18,885 | +€4,861 | +34.7% |
| Suppliers | 440/4 | €14,025 | €18,885 | +€4,861 | +34.7% |
| Other amounts payable | 47/48 | €44,362 | €60,993 | +€16,632 | +37.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €198 | €2,527 | +€2,328 | +1,175% |
| Gross operating margin | 9900 | -€6,703 | -€20,523 | -€13,820 | -206% |
| Operating profit (loss) | 9901 | -€6,902 | -€23,050 | -€16,148 | -234% |
| Financial charges | 65/66B | €66 | €97 | +€32 | +48.1% |
| Recurring financial charges | 65 | €66 | €97 | +€32 | +48.1% |
| Profit (loss) for the period before taxes | 9903 | -€6,967 | -€23,147 | -€16,180 | -232% |
| Profit (loss) for the period | 9904 | -€6,967 | -€23,147 | -€16,180 | -232% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,967 | -€23,147 | -€16,180 | -232% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.