Maroy Alexander: 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.
Maroy Alexander
Largest movements
- Receivables within one year +€77,233
up €77,233 (+647%), from €11,940 to €89,173
of which Other amounts receivable: +€76,374
- Tangible fixed assets -€48,622
down €48,622 (-8.0%), from €609,926 to €561,304
of which Land and buildings: -€45,502
- Debts after one year -€279,722
down €279,722 (-19.0%), from €1.5m to €1.2m
- Current portion of long-term debt +€174,143
up €174,143 (+67.6%), from €257,782 to €431,925
- Other debts +€162,571
up €162,571 (+30.6%), from €531,848 to €694,419
- Financial charges -€581,652
down €581,652 (-90.1%), from €645,817 to €64,165
of which Non-recurring financial charges: -€529,590
- Gross operating margin -€10,004
down €10,004 (-8.3%), from €120,633 to €110,630
- Financial income +€1,467
up €1,467 (+523,821%), from €0 to €1,467
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 | €2,132,398 | €2,159,039 | +€26,641 | +1.2% |
| Fixed assets | 21/28 | €2,112,373 | €2,063,751 | -€48,622 | -2.3% |
| Tangible fixed assets | 22/27 | €609,926 | €561,304 | -€48,622 | -8.0% |
| Land and buildings | 22 | €600,751 | €555,249 | -€45,502 | -7.6% |
| Furniture and vehicles | 24 | €9,175 | €6,055 | -€3,120 | -34.0% |
| Financial fixed assets | 28 | €1,502,447 | €1,502,447 | = | 0.0% |
| Current assets | 29/58 | €20,025 | €95,288 | +€75,263 | +376% |
| Amounts receivable within one year | 40/41 | €11,940 | €89,173 | +€77,233 | +647% |
| Trade receivables | 40 | €6,915 | €7,774 | +€860 | +12.4% |
| Other amounts receivable | 41 | €5,025 | €81,399 | +€76,374 | +1,520% |
| Cash at bank and in hand | 54/58 | €1,133 | €346 | -€786 | -69.4% |
| Deferred charges and accrued income | 490/1 | €6,953 | €5,769 | -€1,184 | -17.0% |
| Total equity and liabilities | 10/49 | €2,132,398 | €2,159,039 | +€26,641 | +1.2% |
| Equity | 10/15 | -€212,465 | -€233,819 | -€21,353 | -10.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | -€224,865 | -€246,219 | -€21,353 | -9.5% |
| Amounts payable | 17/49 | €2,344,863 | €2,392,858 | +€47,995 | +2.0% |
| Amounts payable after more than one year | 17 | €1,472,279 | €1,192,557 | -€279,722 | -19.0% |
| Financial debts | 170/4 | €1,472,279 | €1,192,557 | -€279,722 | -19.0% |
| Amounts payable within one year | 42/48 | €854,792 | €1,184,987 | +€330,196 | +38.6% |
| Current portion of amounts payable after more than one year | 42 | €257,782 | €431,925 | +€174,143 | +67.6% |
| Trade debts | 44 | €7,792 | €13,644 | +€5,852 | +75.1% |
| Suppliers | 440/4 | €7,792 | €13,644 | +€5,852 | +75.1% |
| Taxes, remuneration and social security | 45 | €57,369 | €44,999 | -€12,370 | -21.6% |
| Taxes | 450/3 | €57,369 | €44,999 | -€12,370 | -21.6% |
| Other amounts payable | 47/48 | €531,848 | €694,419 | +€162,571 | +30.6% |
| Accrued charges and deferred income | 492/3 | €17,792 | €15,314 | -€2,478 | -13.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,001 | €48,622 | -€380 | -0.8% |
| Other operating charges | 640/8 | €11,564 | €11,440 | -€124 | -1.1% |
| Non-recurring operating charges | 66A | €8,340 | €8,416 | +€76 | +0.9% |
| Gross operating margin | 9900 | €120,633 | €110,630 | -€10,004 | -8.3% |
| Operating profit (loss) | 9901 | €51,727 | €42,152 | -€9,576 | -18.5% |
| Financial income | 75/76B | €0 | €1,467 | +€1,467 | +523,821% |
| Recurring financial income | 75 | €0 | €1,467 | +€1,467 | +523,821% |
| Financial charges | 65/66B | €645,817 | €64,165 | -€581,652 | -90.1% |
| Recurring financial charges | 65 | €116,227 | €64,165 | -€52,062 | -44.8% |
| Non-recurring financial charges | 66B | €529,590 | €0 | -€529,590 | -100% |
| Profit (loss) for the period before taxes | 9903 | -€594,090 | -€20,547 | +€573,543 | +96.5% |
| Income taxes | 67/77 | €934 | €807 | -€127 | -13.6% |
| Profit (loss) for the period | 9904 | -€595,024 | -€21,353 | +€573,670 | +96.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€595,024 | -€21,353 | +€573,670 | +96.4% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.