MAROFIT: what changed
Two fiscal 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.
MAROFIT
Largest movements
- Cash -€112,414
down €112,414 (-35.3%), from €318,664 to €206,250
mainly Receivables within one year (-€98,031) and Debts after one year (-€43,951)
- Receivables within one year +€98,031
up €98,031 (+244.6%), from €40,079 to €138,110
of which Other amounts receivable: +€100,406
- Tangible fixed assets -€43,396
down €43,396 (-25.4%), from €170,872 to €127,476
- Intangible fixed assets -€18,056
down €18,056 (-18.1%), from €99,844 to €81,788
- Debts after one year -€43,951
down €43,951 (-36.9%), from €119,175 to €75,224
- Current portion of long-term debt -€21,858
down €21,858 (-31.7%), from €68,850 to €46,992
- Reserves +€17,653
up €17,653 (+5.5%), from €318,108 to €335,761
- Tax, wage and social debts -€15,310
down €15,310 (-23.0%), from €66,463 to €51,153
of which Taxes: -€13,206
- Other debts -€13,421
down €13,421 (-100.0%), from €13,421 to €0
- Gross operating margin -€119,558
down €119,558 (-39.3%), from €304,180 to €184,621
- Staff costs -€36,635
down €36,635 (-30.2%), from €121,266 to €84,631
- Taxes -€21,394
down €21,394 (-68.5%), from €31,231 to €9,838
- Depreciation -€8,011
down €8,011 (-10.9%), from €73,462 to €65,451
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 | €638,076 | €559,946 | -€78,130 | -12.2% |
| Fixed assets | 21/28 | €276,310 | €214,859 | -€61,451 | -22.2% |
| Intangible fixed assets | 21 | €99,844 | €81,788 | -€18,056 | -18.1% |
| Tangible fixed assets | 22/27 | €170,872 | €127,476 | -€43,396 | -25.4% |
| Land and buildings | 22 | €3,581 | €7,086 | +€3,505 | +97.9% |
| Plant, machinery and equipment | 23 | €72,301 | €53,261 | -€19,040 | -26.3% |
| Furniture and vehicles | 24 | €65,782 | €46,260 | -€19,522 | -29.7% |
| Other tangible fixed assets | 26 | €29,208 | €20,869 | -€8,339 | -28.6% |
| Financial fixed assets | 28 | €5,594 | €5,594 | = | 0.0% |
| Current assets | 29/58 | €361,767 | €345,087 | -€16,679 | -4.6% |
| Amounts receivable within one year | 40/41 | €40,079 | €138,110 | +€98,031 | +244.6% |
| Trade receivables | 40 | €27,330 | €24,954 | -€2,375 | -8.7% |
| Other amounts receivable | 41 | €12,750 | €113,156 | +€100,406 | +787.5% |
| Cash at bank and in hand | 54/58 | €318,664 | €206,250 | -€112,414 | -35.3% |
| Deferred charges and accrued income | 490/1 | €3,023 | €728 | -€2,296 | -75.9% |
| Total equity and liabilities | 10/49 | €638,076 | €559,946 | -€78,130 | -12.2% |
| Equity | 10/15 | €338,108 | €355,761 | +€17,653 | +5.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €318,108 | €335,761 | +€17,653 | +5.5% |
| Distributable reserves | 133 | €318,108 | €335,761 | +€17,653 | +5.5% |
| Amounts payable | 17/49 | €299,968 | €204,185 | -€95,784 | -31.9% |
| Amounts payable after more than one year | 17 | €119,175 | €75,224 | -€43,951 | -36.9% |
| Financial debts | 170/4 | €119,175 | €75,224 | -€43,951 | -36.9% |
| Amounts payable within one year | 42/48 | €180,793 | €127,259 | -€53,534 | -29.6% |
| Current portion of amounts payable after more than one year | 42 | €68,850 | €46,992 | -€21,858 | -31.7% |
| Trade debts | 44 | €12,059 | €9,114 | -€2,946 | -24.4% |
| Suppliers | 440/4 | €12,059 | €9,114 | -€2,946 | -24.4% |
| Advances received on contracts in progress | 46 | €20,000 | €20,000 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €66,463 | €51,153 | -€15,310 | -23.0% |
| Taxes | 450/3 | €54,732 | €41,526 | -€13,206 | -24.1% |
| Remuneration and social security | 454/9 | €11,731 | €9,628 | -€2,103 | -17.9% |
| Other amounts payable | 47/48 | €13,421 | €0 | -€13,421 | -100.0% |
| Accrued charges and deferred income | 492/3 | - | €1,702 | +€1,702 | |
| Remuneration, social security and pensions | 62 | €121,266 | €84,631 | -€36,635 | -30.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €73,462 | €65,451 | -€8,011 | -10.9% |
| Other operating charges | 640/8 | €763 | €64 | -€699 | -91.6% |
| Gross operating margin | 9900 | €304,180 | €184,621 | -€119,558 | -39.3% |
| Operating profit (loss) | 9901 | €108,689 | €34,475 | -€74,214 | -68.3% |
| Financial income | 75/76B | €120 | €225 | +€104 | +86.9% |
| Recurring financial income | 75 | €120 | €225 | +€104 | +86.9% |
| Financial charges | 65/66B | €4,440 | €7,209 | +€2,769 | +62.4% |
| Recurring financial charges | 65 | €4,440 | €7,209 | +€2,769 | +62.4% |
| Profit (loss) for the period before taxes | 9903 | €104,369 | €27,491 | -€76,878 | -73.7% |
| Income taxes | 67/77 | €31,231 | €9,838 | -€21,394 | -68.5% |
| Profit (loss) for the period | 9904 | €73,138 | €17,653 | -€55,484 | -75.9% |
| Profit (loss) for the period to be appropriated | 9905 | €73,138 | €17,653 | -€55,484 | -75.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.