MARODE: 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.
MARODE
Largest movements
- Cash +€7,227
up €7,227 (+56.2%), from €12,859 to €20,085
mainly Trade debts (+€5,323) and Depreciation (+€2,017)
- Tangible fixed assets -€2,017
down €2,017 (-16.7%), from €12,110 to €10,093
of which Other tangible fixed assets: -€1,375
- Receivables within one year -€1,728
down €1,728 (-48.2%), from €3,586 to €1,857
- Trade debts +€5,323
up €5,323 (+373.0%), from €1,427 to €6,751
- Tax, wage and social debts -€2,074
down €2,074 (-41.1%), from €5,050 to €2,977
of which Remuneration and social security: -€2,380
- Staff costs -€12,980
no longer reported in 2025 (was €12,980)
- Gross operating margin -€11,995
down €11,995 (-75.9%), from €15,807 to €3,812
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.
Cash bridge derived
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 | €44,426 | €47,825 | +€3,400 | +7.7% |
| Fixed assets | 21/28 | €12,110 | €10,093 | -€2,017 | -16.7% |
| Tangible fixed assets | 22/27 | €12,110 | €10,093 | -€2,017 | -16.7% |
| Plant, machinery and equipment | 23 | €1,071 | €429 | -€642 | -60.0% |
| Other tangible fixed assets | 26 | €11,039 | €9,664 | -€1,375 | -12.5% |
| Current assets | 29/58 | €32,316 | €37,733 | +€5,417 | +16.8% |
| Amounts receivable within one year | 40/41 | €3,586 | €1,857 | -€1,728 | -48.2% |
| Trade receivables | 40 | €3,586 | €1,857 | -€1,728 | -48.2% |
| Cash at bank and in hand | 54/58 | €12,859 | €20,085 | +€7,227 | +56.2% |
| Deferred charges and accrued income | 490/1 | €15,872 | €15,790 | -€82 | -0.5% |
| Total equity and liabilities | 10/49 | €44,426 | €47,825 | +€3,400 | +7.7% |
| Equity | 10/15 | €26,021 | €26,166 | +€145 | +0.6% |
| Contributions | 10/11 | €24,789 | €24,789 | = | 0.0% |
| Reserves | 13 | €4,494 | €4,494 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,479 | €2,479 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,479 | €2,479 | = | 0.0% |
| Distributable reserves | 133 | €2,015 | €2,015 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,262 | -€3,117 | +€145 | +4.4% |
| Amounts payable | 17/49 | €18,404 | €21,659 | +€3,255 | +17.7% |
| Amounts payable within one year | 42/48 | €18,404 | €21,659 | +€3,255 | +17.7% |
| Trade debts | 44 | €1,427 | €6,751 | +€5,323 | +373.0% |
| Suppliers | 440/4 | €1,427 | €6,751 | +€5,323 | +373.0% |
| Taxes, remuneration and social security | 45 | €5,050 | €2,977 | -€2,074 | -41.1% |
| Taxes | 450/3 | €1,570 | €1,877 | +€306 | +19.5% |
| Remuneration and social security | 454/9 | €3,480 | €1,100 | -€2,380 | -68.4% |
| Other amounts payable | 47/48 | €11,927 | €11,932 | +€5 | 0.0% |
| Remuneration, social security and pensions | 62 | €12,980 | - | -€12,980 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,032 | €2,017 | -€15 | -0.8% |
| Other operating charges | 640/8 | €1,348 | €1,437 | +€89 | +6.6% |
| Gross operating margin | 9900 | €15,807 | €3,812 | -€11,995 | -75.9% |
| Operating profit (loss) | 9901 | -€553 | €359 | +€912 | |
| Financial income | 75/76B | €62 | €108 | +€46 | +72.9% |
| Recurring financial income | 75 | €62 | €108 | +€46 | +72.9% |
| Financial charges | 65/66B | €232 | €216 | -€16 | -7.0% |
| Recurring financial charges | 65 | €232 | €216 | -€16 | -7.0% |
| Profit (loss) for the period before taxes | 9903 | -€723 | €251 | +€974 | |
| Income taxes | 67/77 | €103 | €106 | +€3 | +2.5% |
| Profit (loss) for the period | 9904 | -€826 | €145 | +€971 | |
| Profit (loss) for the period to be appropriated | 9905 | -€826 | €145 | +€971 |
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 9 October 2026 via checked.be.