MAROT: 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.
MAROT
Largest movements
- Cash -€42,583
down €42,583 (-91.9%), from €46,335 to €3,752
mainly Investment in fixed assets (net) (-€39,804) and Net result for the year (-€27,192)
- Tangible fixed assets +€27,224
up €27,224 (+20.7%), from €131,754 to €158,978
of which Land and buildings: +€34,438
- Receivables within one year -€8,741
down €8,741 (-32.1%), from €27,225 to €18,484
of which Trade receivables: -€11,818
- Profit (loss) carried forward -€27,192
down €27,192 (-17.3%), from -€157,034 to -€184,226
- Turnover -€107,170
down €107,170 (-81.0%), from €132,257 to €25,087
- Purchases and services -€81,399
down €81,399 (-73.1%), from €111,344 to €29,945
- Gross operating margin -€25,771
down €25,771, from €20,913 to -€4,858
- Financial charges +€4,418
up €4,418 (+2744.1%), from €161 to €4,579
- Other operating charges +€1,754
up €1,754 (+44.6%), from €3,937 to €5,691
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 | €315,731 | €289,068 | -€26,663 | -8.4% |
| Fixed assets | 21/28 | €131,754 | €158,978 | +€27,224 | +20.7% |
| Tangible fixed assets | 22/27 | €131,754 | €158,978 | +€27,224 | +20.7% |
| Land and buildings | 22 | €112,050 | €146,488 | +€34,438 | +30.7% |
| Plant, machinery and equipment | 23 | €18,126 | €12,290 | -€5,836 | -32.2% |
| Furniture and vehicles | 24 | €1,578 | €200 | -€1,378 | -87.3% |
| Current assets | 29/58 | €183,977 | €130,090 | -€53,887 | -29.3% |
| Stocks and contracts in progress | 3 | €110,417 | €107,854 | -€2,563 | -2.3% |
| Stocks | 30/36 | €110,417 | €107,854 | -€2,563 | -2.3% |
| Amounts receivable within one year | 40/41 | €27,225 | €18,484 | -€8,741 | -32.1% |
| Trade receivables | 40 | €12,218 | €400 | -€11,818 | -96.7% |
| Other amounts receivable | 41 | €15,007 | €18,084 | +€3,077 | +20.5% |
| Cash at bank and in hand | 54/58 | €46,335 | €3,752 | -€42,583 | -91.9% |
| Total equity and liabilities | 10/49 | €315,731 | €289,068 | -€26,663 | -8.4% |
| Equity | 10/15 | €312,045 | €284,853 | -€27,192 | -8.7% |
| Contributions | 10/11 | €100,505 | €100,505 | = | 0.0% |
| Capital | 10 | €100,505 | €100,505 | = | 0.0% |
| Issued capital | 100 | €100,505 | €100,505 | = | 0.0% |
| Reserves | 13 | €368,574 | €368,574 | = | 0.0% |
| Non-distributable reserves | 130/1 | €10,050 | €10,050 | = | 0.0% |
| Legal reserve | 130 | €10,050 | €10,050 | = | 0.0% |
| Distributable reserves | 133 | €358,524 | €358,524 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€157,034 | -€184,226 | -€27,192 | -17.3% |
| Amounts payable | 17/49 | €3,686 | €4,215 | +€529 | +14.4% |
| Amounts payable within one year | 42/48 | €3,686 | €4,215 | +€529 | +14.4% |
| Trade debts | 44 | €3,148 | €4,031 | +€883 | +28.0% |
| Suppliers | 440/4 | €3,148 | €4,031 | +€883 | +28.0% |
| Taxes, remuneration and social security | 45 | €538 | €184 | -€354 | -65.8% |
| Taxes | 450/3 | €538 | €184 | -€354 | -65.8% |
| Turnover | 70 | €132,257 | €25,087 | -€107,170 | -81.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €111,344 | €29,945 | -€81,399 | -73.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,175 | €12,580 | +€1,405 | +12.6% |
| Other operating charges | 640/8 | €3,937 | €5,691 | +€1,754 | +44.6% |
| Gross operating margin | 9900 | €20,913 | -€4,858 | -€25,771 | |
| Operating profit (loss) | 9901 | €5,801 | -€23,129 | -€28,930 | |
| Financial income | 75/76B | €567 | €927 | +€360 | +63.5% |
| Recurring financial income | 75 | €567 | €927 | +€360 | +63.5% |
| Financial charges | 65/66B | €161 | €4,579 | +€4,418 | +2744.1% |
| Recurring financial charges | 65 | €161 | €4,579 | +€4,418 | +2744.1% |
| Profit (loss) for the period before taxes | 9903 | €6,207 | -€26,781 | -€32,988 | |
| Income taxes | 67/77 | €841 | €411 | -€430 | -51.1% |
| Profit (loss) for the period | 9904 | €5,366 | -€27,192 | -€32,558 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,366 | -€27,192 | -€32,558 |
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 5 October 2026 via checked.be.