Marupa: 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.
Marupa
Largest movements
- Tangible fixed assets -€16,626
down €16,626 (-30.3%), from €54,930 to €38,304
- Receivables within one year +€5,119
up €5,119 (+70.2%), from €7,291 to €12,410
of which Trade receivables: +€6,457
- Intangible fixed assets -€3,960
down €3,960 (-14.6%), from €27,060 to €23,100
- Cash +€1,523
up €1,523 (+46.1%), from €3,303 to €4,827
mainly Depreciation (+€21,254) and Other debts (+€6,801)
- Profit (loss) carried forward -€11,079
down €11,079 (-5.4%), from -€206,365 to -€217,444
- Debts after one year -€10,600
down €10,600 (-16.1%), from €65,649 to €55,049
of which Financial debts: -€10,600
- Other debts +€6,801
up €6,801 (+475.6%), from €1,430 to €8,230
- Trade debts +€1,428
up €1,428 (+1078.7%), from €132 to €1,560
- Current portion of long-term debt -€1,343
down €1,343 (-11.8%), from €11,411 to €10,068
- Gross operating margin -€8,883
down €8,883 (-28.4%), from €31,309 to €22,426
- Depreciation +€4,054
up €4,054 (+23.6%), from €17,200 to €21,254
- Financial charges +€2,234
up €2,234 (+123.0%), from €1,816 to €4,050
- Other operating charges -€1,406
down €1,406 (-49.8%), from €2,826 to €1,419
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 | €92,990 | €79,139 | -€13,852 | -14.9% |
| Fixed assets | 21/28 | €82,065 | €61,478 | -€20,586 | -25.1% |
| Intangible fixed assets | 21 | €27,060 | €23,100 | -€3,960 | -14.6% |
| Tangible fixed assets | 22/27 | €54,930 | €38,304 | -€16,626 | -30.3% |
| Plant, machinery and equipment | 23 | €4,190 | €2,392 | -€1,798 | -42.9% |
| Furniture and vehicles | 24 | €14,752 | €8,842 | -€5,911 | -40.1% |
| Leasing and similar rights | 25 | €32,874 | €25,577 | -€7,296 | -22.2% |
| Other tangible fixed assets | 26 | €3,114 | €1,492 | -€1,622 | -52.1% |
| Financial fixed assets | 28 | €74 | €74 | = | 0.0% |
| Current assets | 29/58 | €10,926 | €17,661 | +€6,735 | +61.6% |
| Amounts receivable within one year | 40/41 | €7,291 | €12,410 | +€5,119 | +70.2% |
| Trade receivables | 40 | €5,953 | €12,410 | +€6,457 | +108.5% |
| Other amounts receivable | 41 | €1,338 | - | -€1,338 | |
| Cash at bank and in hand | 54/58 | €3,303 | €4,827 | +€1,523 | +46.1% |
| Deferred charges and accrued income | 490/1 | €331 | €424 | +€92 | +27.9% |
| Total equity and liabilities | 10/49 | €92,990 | €79,139 | -€13,852 | -14.9% |
| Equity | 10/15 | €12,526 | €1,447 | -€11,079 | -88.5% |
| Contributions | 10/11 | €218,891 | €218,891 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€206,365 | -€217,444 | -€11,079 | -5.4% |
| Amounts payable | 17/49 | €80,465 | €77,692 | -€2,773 | -3.4% |
| Amounts payable after more than one year | 17 | €65,649 | €55,049 | -€10,600 | -16.1% |
| Financial debts | 170/4 | €39,649 | €29,049 | -€10,600 | -26.7% |
| Other amounts payable | 178/9 | €26,000 | €26,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €14,816 | €22,643 | +€7,827 | +52.8% |
| Current portion of amounts payable after more than one year | 42 | €11,411 | €10,068 | -€1,343 | -11.8% |
| Trade debts | 44 | €132 | €1,560 | +€1,428 | +1078.7% |
| Suppliers | 440/4 | €132 | €1,560 | +€1,428 | +1078.7% |
| Taxes, remuneration and social security | 45 | €1,842 | €2,784 | +€942 | +51.1% |
| Taxes | 450/3 | €1,842 | €2,784 | +€942 | +51.1% |
| Other amounts payable | 47/48 | €1,430 | €8,230 | +€6,801 | +475.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,200 | €21,254 | +€4,054 | +23.6% |
| Other operating charges | 640/8 | €2,826 | €1,419 | -€1,406 | -49.8% |
| Non-recurring operating charges | 66A | €16 | €6,656 | +€6,640 | +42402.7% |
| Gross operating margin | 9900 | €31,309 | €22,426 | -€8,883 | -28.4% |
| Operating profit (loss) | 9901 | €11,268 | -€6,903 | -€18,171 | |
| Financial income | 75/76B | €79 | €22 | -€57 | -72.0% |
| Recurring financial income | 75 | €79 | €22 | -€57 | -72.0% |
| Financial charges | 65/66B | €1,816 | €4,050 | +€2,234 | +123.0% |
| Recurring financial charges | 65 | €1,816 | €4,050 | +€2,234 | +123.0% |
| Profit (loss) for the period before taxes | 9903 | €9,530 | -€10,931 | -€20,461 | |
| Income taxes | 67/77 | €180 | €148 | -€32 | -17.7% |
| Profit (loss) for the period | 9904 | €9,350 | -€11,079 | -€20,429 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,350 | -€11,079 | -€20,429 |
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 6 October 2026 via checked.be.