MARU: 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.
MARU
Largest movements
- Receivables within one year +€12,326
up €12,326 (+25.9%), from €47,550 to €59,875
of which Trade receivables: +€12,126
- Cash -€8,909
down €8,909 (-73.4%), from €12,134 to €3,225
mainly Short-term financial debts (-€83,534) and Receivables within one year (-€12,326)
- Stocks and contracts -€8,438
down €8,438 (-4.2%), from €202,371 to €193,933
- Short-term financial debts -€83,534
down €83,534 (-81.6%), from €102,387 to €18,853
- Debts after one year +€42,409
up €42,409 (+23.4%), from €181,230 to €223,640
- Profit (loss) carried forward +€36,762
up €36,762 (+26.7%), from -€137,792 to -€101,030
- Trade debts -€11,032
down €11,032 (-28.8%), from €38,276 to €27,245
- Other debts +€8,216
up €8,216 (+127.5%), from €6,445 to €14,661
- Financial income +€25,018
new in 2024: €25,018
- Financial charges -€16,284
down €16,284 (-98.8%), from €16,477 to €193
- Gross operating margin -€3,658
down €3,658 (-21.4%), from €17,059 to €13,400
- Other operating charges -€620
down €620 (-29.8%), from €2,083 to €1,463
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €262,759 | €257,223 | -€5,536 | -2.1% |
| Current assets | 29/58 | €262,759 | €257,223 | -€5,536 | -2.1% |
| Stocks and contracts in progress | 3 | €202,371 | €193,933 | -€8,438 | -4.2% |
| Stocks | 30/36 | €202,371 | €193,933 | -€8,438 | -4.2% |
| Amounts receivable within one year | 40/41 | €47,550 | €59,875 | +€12,326 | +25.9% |
| Trade receivables | 40 | €26,242 | €38,368 | +€12,126 | +46.2% |
| Other amounts receivable | 41 | €21,308 | €21,508 | +€200 | +0.9% |
| Cash at bank and in hand | 54/58 | €12,134 | €3,225 | -€8,909 | -73.4% |
| Deferred charges and accrued income | 490/1 | €705 | €189 | -€515 | -73.1% |
| Total equity and liabilities | 10/49 | €262,759 | €257,223 | -€5,536 | -2.1% |
| Equity | 10/15 | -€69,621 | -€32,859 | +€36,762 | +52.8% |
| Contributions | 10/11 | €61,974 | €61,974 | = | 0.0% |
| Capital | 10 | €61,974 | €61,974 | = | 0.0% |
| Issued capital | 100 | €61,974 | €61,974 | = | 0.0% |
| Reserves | 13 | €6,197 | €6,197 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€137,792 | -€101,030 | +€36,762 | +26.7% |
| Amounts payable | 17/49 | €332,380 | €290,082 | -€42,298 | -12.7% |
| Amounts payable after more than one year | 17 | €181,230 | €223,640 | +€42,409 | +23.4% |
| Financial debts | 170/4 | €181,230 | €223,640 | +€42,409 | +23.4% |
| Amounts payable within one year | 42/48 | €151,150 | €66,442 | -€84,708 | -56.0% |
| Financial debts | 43 | €102,387 | €18,853 | -€83,534 | -81.6% |
| Credit institutions | 430/8 | €102,387 | €18,853 | -€83,534 | -81.6% |
| Trade debts | 44 | €38,276 | €27,245 | -€11,032 | -28.8% |
| Suppliers | 440/4 | €38,276 | €27,245 | -€11,032 | -28.8% |
| Taxes, remuneration and social security | 45 | €4,041 | €5,683 | +€1,642 | +40.6% |
| Taxes | 450/3 | €4,041 | €5,683 | +€1,642 | +40.6% |
| Other amounts payable | 47/48 | €6,445 | €14,661 | +€8,216 | +127.5% |
| Other operating charges | 640/8 | €2,083 | €1,463 | -€620 | -29.8% |
| Gross operating margin | 9900 | €17,059 | €13,400 | -€3,658 | -21.4% |
| Operating profit (loss) | 9901 | €14,975 | €11,937 | -€3,038 | -20.3% |
| Financial income | 75/76B | - | €25,018 | +€25,018 | |
| Recurring financial income | 75 | - | €25,018 | +€25,018 | |
| Financial charges | 65/66B | €16,477 | €193 | -€16,284 | -98.8% |
| Recurring financial charges | 65 | €16,477 | €193 | -€16,284 | -98.8% |
| Profit (loss) for the period before taxes | 9903 | -€1,502 | €36,762 | +€38,264 | |
| Profit (loss) for the period | 9904 | -€1,502 | €36,762 | +€38,264 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,502 | €36,762 | +€38,264 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.