Marsu Management: 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.
Marsu Management
Largest movements
- Receivables within one year +€5,445
up €5,445 (+226%), from €2,408 to €7,853
of which Trade receivables: +€5,445
- Cash -€173
down €173 (-100%), from €173 to €0
mainly Receivables within one year (-€5,445)
- Trade debts +€2,231
new in 2025: €2,231
- Other debts +€1,542
new in 2025: €1,542
- Profit (loss) carried forward +€1,499
up €1,499 (+12.1%), from -€12,419 to -€10,920
- Gross operating margin +€9,075
up €9,075, from -€6,978 to €2,096
- Other operating charges +€89
up €89 (+20.2%), from €442 to €532
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 | €2,581 | €7,853 | +€5,272 | +204% |
| Current assets | 29/58 | €2,581 | €7,853 | +€5,272 | +204% |
| Amounts receivable within one year | 40/41 | €2,408 | €7,853 | +€5,445 | +226% |
| Trade receivables | 40 | €387 | €5,832 | +€5,445 | +1,406% |
| Other amounts receivable | 41 | €2,021 | €2,021 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €173 | €0 | -€173 | -100% |
| Total equity and liabilities | 10/49 | €2,581 | €7,853 | +€5,272 | +204% |
| Equity | 10/15 | €2,581 | €4,080 | +€1,499 | +58.1% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€12,419 | -€10,920 | +€1,499 | +12.1% |
| Amounts payable | 17/49 | - | €3,773 | +€3,773 | |
| Amounts payable within one year | 42/48 | - | €3,773 | +€3,773 | |
| Trade debts | 44 | - | €2,231 | +€2,231 | |
| Suppliers | 440/4 | - | €2,231 | +€2,231 | |
| Other amounts payable | 47/48 | - | €1,542 | +€1,542 | |
| Other operating charges | 640/8 | €442 | €532 | +€89 | +20.2% |
| Gross operating margin | 9900 | -€6,978 | €2,096 | +€9,075 | |
| Operating profit (loss) | 9901 | -€7,421 | €1,565 | +€8,985 | |
| Financial charges | 65/66B | €44 | €65 | +€22 | +50.5% |
| Recurring financial charges | 65 | €44 | €65 | +€22 | +50.5% |
| Profit (loss) for the period before taxes | 9903 | -€7,464 | €1,499 | +€8,963 | |
| Profit (loss) for the period | 9904 | -€7,464 | €1,499 | +€8,963 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,464 | €1,499 | +€8,963 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.