MARPAT: 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.
MARPAT
Largest movements
- Receivables within one year -€135,633
down €135,633 (-82.1%), from €165,241 to €29,608
of which Other amounts receivable: -€104,583
- Stocks and contracts +€7,405
new in 2025: €7,405
- Reserves -€80,957
down €80,957 (-100.0%), from €80,957 to €0
- Profit (loss) carried forward -€59,078
down €59,078, from €0 to -€59,078
- Debts after one year +€35,392
up €35,392 (+363.0%), from €9,749 to €45,141
of which Other amounts payable: +€38,134
- Other debts -€25,591
down €25,591 (-40.2%), from €63,599 to €38,008
- Tax, wage and social debts +€3,935
up €3,935 (+732.7%), from €537 to €4,473
of which Remuneration and social security: +€2,100
- Other operating charges +€82,471
up €82,471 (+3860.9%), from €2,136 to €84,607
- Gross operating margin -€53,517
down €53,517, from €4,295 to -€49,223
- Financial income -€2,801
down €2,801 (-97.7%), from €2,868 to €67
- Depreciation +€1,375
up €1,375 (+52.6%), from €2,612 to €3,986
- Financial charges +€1,274
up €1,274 (+125.6%), from €1,014 to €2,287
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 | €185,478 | €58,758 | -€126,720 | -68.3% |
| Fixed assets | 21/28 | €13,145 | €15,021 | +€1,876 | +14.3% |
| Tangible fixed assets | 22/27 | €12,370 | €12,692 | +€322 | +2.6% |
| Plant, machinery and equipment | 23 | €6,915 | €5,188 | -€1,727 | -25.0% |
| Furniture and vehicles | 24 | €2,663 | €5,672 | +€3,009 | +113.0% |
| Other tangible fixed assets | 26 | €2,792 | €1,833 | -€960 | -34.4% |
| Financial fixed assets | 28 | €775 | €2,329 | +€1,554 | +200.5% |
| Current assets | 29/58 | €172,333 | €43,737 | -€128,596 | -74.6% |
| Stocks and contracts in progress | 3 | - | €7,405 | +€7,405 | |
| Stocks | 30/36 | - | €7,405 | +€7,405 | |
| Amounts receivable within one year | 40/41 | €165,241 | €29,608 | -€135,633 | -82.1% |
| Trade receivables | 40 | €60,128 | €29,078 | -€31,050 | -51.6% |
| Other amounts receivable | 41 | €105,113 | €531 | -€104,583 | -99.5% |
| Cash at bank and in hand | 54/58 | €4,064 | €3,922 | -€141 | -3.5% |
| Deferred charges and accrued income | 490/1 | €3,028 | €2,801 | -€227 | -7.5% |
| Total equity and liabilities | 10/49 | €185,478 | €58,758 | -€126,720 | -68.3% |
| Equity | 10/15 | €99,557 | -€40,478 | -€140,035 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €80,957 | €0 | -€80,957 | -100.0% |
| Distributable reserves | 133 | €80,957 | €0 | -€80,957 | -100.0% |
| Profit (loss) carried forward | 14 | €0 | -€59,078 | -€59,078 | |
| Amounts payable | 17/49 | €85,921 | €99,237 | +€13,315 | +15.5% |
| Amounts payable after more than one year | 17 | €9,749 | €45,141 | +€35,392 | +363.0% |
| Financial debts | 170/4 | €9,749 | €7,007 | -€2,742 | -28.1% |
| Other amounts payable | 178/9 | - | €38,134 | +€38,134 | |
| Amounts payable within one year | 42/48 | €74,266 | €53,791 | -€20,475 | -27.6% |
| Current portion of amounts payable after more than one year | 42 | €2,597 | €2,742 | +€145 | +5.6% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €7,533 | €8,568 | +€1,035 | +13.7% |
| Suppliers | 440/4 | €7,533 | €8,568 | +€1,035 | +13.7% |
| Taxes, remuneration and social security | 45 | €537 | €4,473 | +€3,935 | +732.7% |
| Taxes | 450/3 | €537 | €2,373 | +€1,835 | +341.7% |
| Remuneration and social security | 454/9 | - | €2,100 | +€2,100 | |
| Other amounts payable | 47/48 | €63,599 | €38,008 | -€25,591 | -40.2% |
| Accrued charges and deferred income | 492/3 | €1,906 | €305 | -€1,602 | -84.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,612 | €3,986 | +€1,375 | +52.6% |
| Other operating charges | 640/8 | €2,136 | €84,607 | +€82,471 | +3860.9% |
| Gross operating margin | 9900 | €4,295 | -€49,223 | -€53,517 | |
| Operating profit (loss) | 9901 | -€453 | -€137,815 | -€137,363 | -30325.5% |
| Financial income | 75/76B | €2,868 | €67 | -€2,801 | -97.7% |
| Recurring financial income | 75 | €2,868 | €67 | -€2,801 | -97.7% |
| Financial charges | 65/66B | €1,014 | €2,287 | +€1,274 | +125.6% |
| Recurring financial charges | 65 | €1,014 | €2,287 | +€1,274 | +125.6% |
| Profit (loss) for the period before taxes | 9903 | €1,401 | -€140,035 | -€141,437 | |
| Income taxes | 67/77 | €225 | €0 | -€225 | -100.0% |
| Profit (loss) for the period | 9904 | €1,177 | -€140,035 | -€141,212 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,177 | -€140,035 | -€141,212 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.