MARUTA: 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.
MARUTA
Largest movements
- Tangible fixed assets -€17,528
down €17,528 (-11.8%), from €149,146 to €131,618
- Cash +€13,462
up €13,462 (+16.6%), from €81,182 to €94,644
mainly Other debts (+€23,070) and Depreciation (+€20,761)
- Receivables within one year -€7,676
down €7,676 (-92.8%), from €8,271 to €595
of which Other amounts receivable: -€7,439
- Other debts +€23,070
up €23,070 (+13.3%), from €172,928 to €195,998
- Profit (loss) carried forward -€20,525
down €20,525 (-20.6%), from -€99,731 to -€120,256
- Debts after one year -€13,006
down €13,006 (-57.4%), from €22,673 to €9,667
of which Financial debts: -€13,006
- Trade debts +€3,015
up €3,015 (+69.0%), from €4,371 to €7,386
- Tax, wage and social debts -€2,990
down €2,990 (-76.7%), from €3,900 to €910
- Gross operating margin +€23,010
up €23,010 (+76.9%), from €29,925 to €52,935
- Financial income -€12,880
down €12,880 (-94.8%), from €13,585 to €705
of which Non-recurring financial income: -€12,700
- Financial charges -€6,431
down €6,431 (-11.5%), from €55,803 to €49,372
- Depreciation -€1,637
down €1,637 (-7.3%), from €22,398 to €20,761
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 | €247,568 | €236,054 | -€11,514 | -4.7% |
| Fixed assets | 21/28 | €149,146 | €131,618 | -€17,528 | -11.8% |
| Tangible fixed assets | 22/27 | €149,146 | €131,618 | -€17,528 | -11.8% |
| Land and buildings | 22 | €54,267 | €46,356 | -€7,911 | -14.6% |
| Plant, machinery and equipment | 23 | €92,484 | €84,343 | -€8,141 | -8.8% |
| Furniture and vehicles | 24 | €2,395 | €919 | -€1,476 | -61.6% |
| Current assets | 29/58 | €98,423 | €104,436 | +€6,014 | +6.1% |
| Amounts receivable within one year | 40/41 | €8,271 | €595 | -€7,676 | -92.8% |
| Trade receivables | 40 | €686 | €448 | -€238 | -34.7% |
| Other amounts receivable | 41 | €7,586 | €147 | -€7,439 | -98.1% |
| Cash at bank and in hand | 54/58 | €81,182 | €94,644 | +€13,462 | +16.6% |
| Deferred charges and accrued income | 490/1 | €8,969 | €9,197 | +€228 | +2.5% |
| Total equity and liabilities | 10/49 | €247,568 | €236,054 | -€11,514 | -4.7% |
| Equity | 10/15 | €28,650 | €8,125 | -€20,525 | -71.6% |
| Contributions | 10/11 | €21,071 | €21,071 | = | 0.0% |
| Reserves | 13 | €107,310 | €107,310 | = | 0.0% |
| Non-distributable reserves | 130/1 | €13,310 | €13,310 | = | 0.0% |
| Reserves not available under the articles | 1311 | €13,310 | €13,310 | = | 0.0% |
| Distributable reserves | 133 | €94,000 | €94,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€99,731 | -€120,256 | -€20,525 | -20.6% |
| Amounts payable | 17/49 | €218,919 | €227,930 | +€9,011 | +4.1% |
| Amounts payable after more than one year | 17 | €22,673 | €9,667 | -€13,006 | -57.4% |
| Financial debts | 170/4 | €22,173 | €9,167 | -€13,006 | -58.7% |
| Other amounts payable | 178/9 | €500 | €500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €196,180 | €217,300 | +€21,120 | +10.8% |
| Current portion of amounts payable after more than one year | 42 | €14,982 | €13,006 | -€1,975 | -13.2% |
| Trade debts | 44 | €4,371 | €7,386 | +€3,015 | +69.0% |
| Suppliers | 440/4 | €4,371 | €7,386 | +€3,015 | +69.0% |
| Taxes, remuneration and social security | 45 | €3,900 | €910 | -€2,990 | -76.7% |
| Taxes | 450/3 | €3,900 | €910 | -€2,990 | -76.7% |
| Other amounts payable | 47/48 | €172,928 | €195,998 | +€23,070 | +13.3% |
| Accrued charges and deferred income | 492/3 | €66 | €963 | +€897 | +1365.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,398 | €20,761 | -€1,637 | -7.3% |
| Other operating charges | 640/8 | €3,706 | €3,895 | +€188 | +5.1% |
| Gross operating margin | 9900 | €29,925 | €52,935 | +€23,010 | +76.9% |
| Operating profit (loss) | 9901 | €3,821 | €28,279 | +€24,458 | +640.1% |
| Financial income | 75/76B | €13,585 | €705 | -€12,880 | -94.8% |
| Recurring financial income | 75 | €885 | €705 | -€180 | -20.3% |
| Non-recurring financial income | 76B | €12,700 | €0 | -€12,700 | -100.0% |
| Financial charges | 65/66B | €55,803 | €49,372 | -€6,431 | -11.5% |
| Recurring financial charges | 65 | €55,803 | €49,372 | -€6,431 | -11.5% |
| Profit (loss) for the period before taxes | 9903 | -€38,397 | -€20,388 | +€18,009 | +46.9% |
| Income taxes | 67/77 | €193 | €137 | -€57 | -29.2% |
| Profit (loss) for the period | 9904 | -€38,591 | -€20,525 | +€18,066 | +46.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€38,591 | -€20,525 | +€18,066 | +46.8% |
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 7 October 2026 via checked.be.