MaRRoM: 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.
MaRRoM
Largest movements
- Stocks and contracts -€828,218
down €828,218 (-49.3%), from €1.7m to €852,921
- Cash -€98,037
down €98,037 (-83.2%), from €117,858 to €19,821
mainly Short-term financial debts (-€1.0m) and Tax, wage and social debts (-€103,113)
- Tangible fixed assets -€89,006
down €89,006 (-3.0%), from €2.9m to €2.9m
of which Land and buildings: -€89,005
- Short-term financial debts -€1.0m
down €1.0m (-74.7%), from €1.4m to €351,932
of which Other loans: -€1.0m
- Tax, wage and social debts -€103,113
down €103,113 (-93.3%), from €110,484 to €7,371
- Other debts +€95,999
up €95,999 (+153%), from €62,749 to €158,748
- Profit (loss) carried forward +€92,988
up €92,988 (+100.0%), from €93,018 to €186,006
- Debts after one year -€77,261
down €77,261 (-3.8%), from €2.1m to €2.0m
- Purchases and services -€1.1m
no longer reported in 2025 (was €1.1m)
- Gross operating margin +€71,065
up €71,065 (+25.1%), from €283,190 to €354,255
- Financial charges -€63,281
down €63,281 (-31.2%), from €203,093 to €139,812
- Depreciation +€52,284
up €52,284 (+142%), from €36,721 to €89,005
- Taxes +€21,327
up €21,327 (+198%), from €10,754 to €32,081
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 | €4,758,899 | €3,729,392 | -€1.0m | -21.6% |
| Fixed assets | 21/28 | €2,945,423 | €2,856,417 | -€89,006 | -3.0% |
| Tangible fixed assets | 22/27 | €2,945,423 | €2,856,417 | -€89,006 | -3.0% |
| Land and buildings | 22 | €2,933,079 | €2,844,074 | -€89,005 | -3.0% |
| Assets under construction and advance payments | 27 | €12,344 | €12,343 | -€1 | 0.0% |
| Current assets | 29/58 | €1,813,476 | €872,974 | -€940,502 | -51.9% |
| Stocks and contracts in progress | 3 | €1,681,139 | €852,921 | -€828,218 | -49.3% |
| Stocks | 30/36 | €1,681,139 | €852,921 | -€828,218 | -49.3% |
| Amounts receivable within one year | 40/41 | €14,479 | €232 | -€14,247 | -98.4% |
| Trade receivables | 40 | €232 | €232 | +€0 | +0.1% |
| Other amounts receivable | 41 | €14,247 | - | -€14,247 | |
| Cash at bank and in hand | 54/58 | €117,858 | €19,821 | -€98,037 | -83.2% |
| Total equity and liabilities | 10/49 | €4,758,899 | €3,729,392 | -€1.0m | -21.6% |
| Equity | 10/15 | €991,018 | €1,084,006 | +€92,988 | +9.4% |
| Contributions | 10/11 | €898,000 | €898,000 | = | 0.0% |
| Capital | 10 | €898,000 | €898,000 | = | 0.0% |
| Issued capital | 100 | €898,000 | €898,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €93,018 | €186,006 | +€92,988 | +100.0% |
| Amounts payable | 17/49 | €3,767,881 | €2,645,386 | -€1.1m | -29.8% |
| Amounts payable after more than one year | 17 | €2,057,385 | €1,980,124 | -€77,261 | -3.8% |
| Financial debts | 170/4 | €2,057,385 | €1,980,124 | -€77,261 | -3.8% |
| Amounts payable within one year | 42/48 | €1,710,496 | €665,262 | -€1.0m | -61.1% |
| Current portion of amounts payable after more than one year | 42 | €91,375 | €77,261 | -€14,114 | -15.4% |
| Financial debts | 43 | €1,389,395 | €351,932 | -€1.0m | -74.7% |
| Credit institutions | 430/8 | €20,910 | €20,932 | +€22 | +0.1% |
| Other loans | 439 | €1,368,485 | €331,000 | -€1.0m | -75.8% |
| Trade debts | 44 | €56,493 | €69,949 | +€13,456 | +23.8% |
| Suppliers | 440/4 | €56,493 | €69,339 | +€12,846 | +22.7% |
| Bills of exchange payable | 441 | - | €610 | +€610 | |
| Taxes, remuneration and social security | 45 | €110,484 | €7,371 | -€103,113 | -93.3% |
| Taxes | 450/3 | €110,484 | €7,371 | -€103,113 | -93.3% |
| Other amounts payable | 47/48 | €62,749 | €158,748 | +€95,999 | +153% |
| Turnover | 70 | €192 | - | -€192 | |
| Goods, raw materials, services and sundry goods | 60/61 | €1,052,916 | - | -€1.1m | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,721 | €89,005 | +€52,284 | +142% |
| Other operating charges | 640/8 | €361 | €369 | +€8 | +2.3% |
| Gross operating margin | 9900 | €283,190 | €354,255 | +€71,065 | +25.1% |
| Operating profit (loss) | 9901 | €246,108 | €264,880 | +€18,772 | +7.6% |
| Financial charges | 65/66B | €203,093 | €139,812 | -€63,281 | -31.2% |
| Recurring financial charges | 65 | €203,093 | €139,812 | -€63,281 | -31.2% |
| Profit (loss) for the period before taxes | 9903 | €43,015 | €125,069 | +€82,054 | +191% |
| Income taxes | 67/77 | €10,754 | €32,081 | +€21,327 | +198% |
| Profit (loss) for the period | 9904 | €32,261 | €92,988 | +€60,727 | +188% |
| Profit (loss) for the period to be appropriated | 9905 | €32,261 | €92,988 | +€60,727 | +188% |
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.