MARRAS: 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.
What changed
MARRAS
NACE 70.200, Business and other management consultancy
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€59,453
2024 · €50,040+€9,412
Equity
€2.7m
2024 · €2.9m-€140,547
Cash
€261,632
2024 · €286,863-€25,231
Balance sheet total
€3.5m
2024 · €3.6m-€16,823
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
- Other debts +€195,612
up €195,612 (+4424.8%), from €4,421 to €200,032
- Reserves -€140,547
down €140,547 (-4.9%), from €2.9m to €2.7m
- Debts after one year -€84,901
down €84,901 (-18.9%), from €448,764 to €363,863
Income statement
- Gross operating margin +€29,266
up €29,266 (+18.8%), from €155,734 to €185,000
- Taxes +€16,797
up €16,797 (+78.1%), from €21,520 to €38,316
- Financial charges +€9,127
up €9,127 (+644.7%), from €1,416 to €10,543
- Depreciation -€4,799
down €4,799 (-4.9%), from €97,664 to €92,866
- Financial income +€2,057
up €2,057 (+9.7%), from €21,233 to €23,289
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.
Result 2024
€50,040
Gross operating margin
+€29,266
Depreciation
+€4,799
Other operating charges
+€854
Other operating items
-€1,639
Financial income
+€2,057
Financial charges
-€9,127
Taxes
-€16,797
Result 2025
€59,453
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.
From operations
+€344,885
Investment
-€77,556
Financing
-€292,560
Cash 2024
€286,863
From operations (derived)
+€344,885
Net result for the year
+€59,453
Depreciation
+€92,866
Receivables within one year
-€22,884
Deferred charges and accrued income
-€834
Provisions
-€4,912
Trade debts
+€3,740
Tax, wage and social debts
+€21,609
Other debts
+€195,612
Accrued charges and deferred income
+€236
Investment (derived)
-€77,556
Investment in fixed assets (net)
-€67,556
Current investments
-€10,000
Financing
-€292,560
Debts after one year
-€84,901
Current portion of long-term debt
-€6,893
Short-term financial debts
-€767
Contributions, distributions and other
-€200,000
Cash 2025
€261,632
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,555,961 | €3,539,138 | -€16,823 | -0.5% |
| Fixed assets | 21/28 | €2,299,502 | €2,274,193 | -€25,310 | -1.1% |
| Tangible fixed assets | 22/27 | €2,255,847 | €2,230,537 | -€25,310 | -1.1% |
| Land and buildings | 22 | €2,143,378 | €2,131,902 | -€11,476 | -0.5% |
| Plant, machinery and equipment | 23 | €48,955 | €60,875 | +€11,920 | +24.3% |
| Furniture and vehicles | 24 | €63,513 | €37,759 | -€25,754 | -40.5% |
| Financial fixed assets | 28 | €43,656 | €43,656 | = | 0.0% |
| Current assets | 29/58 | €1,256,459 | €1,264,945 | +€8,487 | +0.7% |
| Amounts receivable within one year | 40/41 | €10,231 | €33,116 | +€22,884 | +223.7% |
| Trade receivables | 40 | €7,708 | €9,910 | +€2,202 | +28.6% |
| Other amounts receivable | 41 | €2,524 | €23,206 | +€20,682 | +819.5% |
| Current investments | 50/53 | €948,158 | €958,158 | +€10,000 | +1.1% |
| Cash at bank and in hand | 54/58 | €286,863 | €261,632 | -€25,231 | -8.8% |
| Deferred charges and accrued income | 490/1 | €11,206 | €12,040 | +€834 | +7.4% |
| Total equity and liabilities | 10/49 | €3,555,961 | €3,539,138 | -€16,823 | -0.5% |
| Equity | 10/15 | €2,870,698 | €2,730,151 | -€140,547 | -4.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,852,098 | €2,711,551 | -€140,547 | -4.9% |
| Distributable reserves | 133 | €2,852,098 | €2,711,551 | -€140,547 | -4.9% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Provisions and deferred taxes | 16 | €122,514 | €117,602 | -€4,912 | -4.0% |
| Deferred taxes | 168 | €122,514 | €117,602 | -€4,912 | -4.0% |
| Amounts payable | 17/49 | €562,749 | €691,385 | +€128,636 | +22.9% |
| Amounts payable after more than one year | 17 | €448,764 | €363,863 | -€84,901 | -18.9% |
| Financial debts | 170/4 | €448,764 | €363,863 | -€84,901 | -18.9% |
| Amounts payable within one year | 42/48 | €110,632 | €323,933 | +€213,301 | +192.8% |
| Current portion of amounts payable after more than one year | 42 | €91,793 | €84,901 | -€6,893 | -7.5% |
| Financial debts | 43 | €2,592 | €1,825 | -€767 | -29.6% |
| Credit institutions | 430/8 | €2,592 | €1,825 | -€767 | -29.6% |
| Trade debts | 44 | €4,883 | €8,623 | +€3,740 | +76.6% |
| Suppliers | 440/4 | €4,883 | €8,623 | +€3,740 | +76.6% |
| Taxes, remuneration and social security | 45 | €6,944 | €28,552 | +€21,609 | +311.2% |
| Taxes | 450/3 | €6,944 | €28,552 | +€21,609 | +311.2% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €4,421 | €200,032 | +€195,612 | +4424.8% |
| Accrued charges and deferred income | 492/3 | €3,353 | €3,589 | +€236 | +7.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €97,664 | €92,866 | -€4,799 | -4.9% |
| Other operating charges | 640/8 | €10,022 | €9,168 | -€854 | -8.5% |
| Non-recurring operating charges | 66A | €1,216 | €2,856 | +€1,639 | +134.7% |
| Gross operating margin | 9900 | €155,734 | €185,000 | +€29,266 | +18.8% |
| Operating profit (loss) | 9901 | €46,831 | €80,110 | +€33,280 | +71.1% |
| Financial income | 75/76B | €21,233 | €23,289 | +€2,057 | +9.7% |
| Recurring financial income | 75 | €21,233 | €23,289 | +€2,057 | +9.7% |
| Financial charges | 65/66B | €1,416 | €10,543 | +€9,127 | +644.7% |
| Recurring financial charges | 65 | €1,416 | €10,543 | +€9,127 | +644.7% |
| Profit (loss) for the period before taxes | 9903 | €66,648 | €92,857 | +€26,209 | +39.3% |
| Transfer from deferred taxes | 780 | €4,912 | €4,912 | = | 0.0% |
| Income taxes | 67/77 | €21,520 | €38,316 | +€16,797 | +78.1% |
| Profit (loss) for the period | 9904 | €50,040 | €59,453 | +€9,412 | +18.8% |
| Profit (loss) for the period to be appropriated | 9905 | €50,040 | €59,453 | +€9,412 | +18.8% |
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.