Maroli: 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.
Maroli
Largest movements
- Receivables within one year +€121,656
up €121,656 (+462%), from €26,357 to €148,013
of which Trade receivables: +€121,483
- Cash -€79,230
down €79,230 (-75.9%), from €104,348 to €25,117
mainly Receivables within one year (-€121,656) and Tax, wage and social debts (-€8,597)
- Trade debts +€55,695
up €55,695 (+126%), from €44,177 to €99,872
- Tax, wage and social debts -€8,597
down €8,597 (-47.5%), from €18,117 to €9,521
of which Taxes: -€5,495
- Profit (loss) carried forward -€7,740
down €7,740 (-8.9%), from -€86,970 to -€94,711
- Gross operating margin +€39,103
up €39,103 (+90.5%), from -€43,230 to -€4,127
- Write-downs +€4,686
up €4,686, from -€3,856 to €829
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 | €276,041 | €315,454 | +€39,414 | +14.3% |
| Fixed assets | 21/28 | €5,668 | €6,054 | +€386 | +6.8% |
| Tangible fixed assets | 22/27 | €978 | €1,364 | +€386 | +39.5% |
| Plant, machinery and equipment | 23 | €978 | €1,364 | +€386 | +39.5% |
| Financial fixed assets | 28 | €4,690 | €4,690 | = | 0.0% |
| Current assets | 29/58 | €270,373 | €309,401 | +€39,028 | +14.4% |
| Stocks and contracts in progress | 3 | €138,393 | €135,286 | -€3,107 | -2.2% |
| Stocks | 30/36 | €138,393 | €135,286 | -€3,107 | -2.2% |
| Amounts receivable within one year | 40/41 | €26,357 | €148,013 | +€121,656 | +462% |
| Trade receivables | 40 | €23,191 | €144,674 | +€121,483 | +524% |
| Other amounts receivable | 41 | €3,165 | €3,339 | +€173 | +5.5% |
| Cash at bank and in hand | 54/58 | €104,348 | €25,117 | -€79,230 | -75.9% |
| Deferred charges and accrued income | 490/1 | €1,275 | €984 | -€291 | -22.8% |
| Total equity and liabilities | 10/49 | €276,041 | €315,454 | +€39,414 | +14.3% |
| Equity | 10/15 | €213,746 | €206,006 | -€7,740 | -3.6% |
| Contributions | 10/11 | €242,254 | €242,254 | = | 0.0% |
| Reserves | 13 | €58,463 | €58,463 | = | 0.0% |
| Tax-exempt reserves | 132 | €24,694 | €24,694 | = | 0.0% |
| Distributable reserves | 133 | €33,769 | €33,769 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€86,970 | -€94,711 | -€7,740 | -8.9% |
| Amounts payable | 17/49 | €62,295 | €109,449 | +€47,154 | +75.7% |
| Amounts payable within one year | 42/48 | €62,295 | €109,393 | +€47,098 | +75.6% |
| Trade debts | 44 | €44,177 | €99,872 | +€55,695 | +126% |
| Suppliers | 440/4 | €44,177 | €99,872 | +€55,695 | +126% |
| Taxes, remuneration and social security | 45 | €18,117 | €9,521 | -€8,597 | -47.5% |
| Taxes | 450/3 | €15,015 | €9,521 | -€5,495 | -36.6% |
| Remuneration and social security | 454/9 | €3,102 | €0 | -€3,102 | -100% |
| Accrued charges and deferred income | 492/3 | - | €56 | +€56 | |
| Remuneration, social security and pensions | 62 | €350 | €23 | -€327 | -93.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €710 | €1,070 | +€360 | +50.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€3,856 | €829 | +€4,686 | |
| Other operating charges | 640/8 | €821 | €968 | +€148 | +18.0% |
| Gross operating margin | 9900 | -€43,230 | -€4,127 | +€39,103 | +90.5% |
| Operating profit (loss) | 9901 | -€41,254 | -€7,018 | +€34,236 | +83.0% |
| Financial income | 75/76B | €44 | €0 | -€44 | -100% |
| Recurring financial income | 75 | €44 | €0 | -€44 | -100% |
| Financial charges | 65/66B | €790 | €723 | -€68 | -8.5% |
| Recurring financial charges | 65 | €790 | €723 | -€68 | -8.5% |
| Profit (loss) for the period before taxes | 9903 | -€42,000 | -€7,740 | +€34,260 | +81.6% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€42,000 | -€7,740 | +€34,260 | +81.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€42,000 | -€7,740 | +€34,260 | +81.6% |
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 18 October 2026 via checked.be.