MARZO: 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.
MARZO
Largest movements
- Tangible fixed assets +€337,385
up €337,385 (+159.3%), from €211,775 to €549,160
of which Land and buildings: +€328,664
- Receivables within one year +€5,724
up €5,724 (+114.0%), from €5,020 to €10,744
of which Other amounts receivable: +€6,306
- Debts after one year +€259,523
up €259,523 (+202.4%), from €128,198 to €387,720
- Other debts +€60,788
up €60,788 (+74.2%), from €81,900 to €142,688
- Trade debts +€22,870
up €22,870 (+134.1%), from €17,052 to €39,922
- Profit (loss) carried forward -€20,290
down €20,290 (-105.2%), from -€19,289 to -€39,579
- Current portion of long-term debt +€14,814
up €14,814 (+172.0%), from €8,614 to €23,428
- Gross operating margin -€31,050
down €31,050 (-81.7%), from €38,000 to €6,949
- Financial charges +€6,438
up €6,438 (+162.3%), from €3,968 to €10,406
- Depreciation +€3,850
up €3,850 (+31.2%), from €12,352 to €16,202
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 | €227,064 | €565,583 | +€338,519 | +149.1% |
| Fixed assets | 21/28 | €211,775 | €549,160 | +€337,385 | +159.3% |
| Tangible fixed assets | 22/27 | €211,775 | €549,160 | +€337,385 | +159.3% |
| Land and buildings | 22 | €195,207 | €523,871 | +€328,664 | +168.4% |
| Plant, machinery and equipment | 23 | €3,110 | €13,473 | +€10,363 | +333.3% |
| Furniture and vehicles | 24 | €13,459 | €11,816 | -€1,643 | -12.2% |
| Current assets | 29/58 | €15,288 | €16,423 | +€1,134 | +7.4% |
| Amounts receivable within one year | 40/41 | €5,020 | €10,744 | +€5,724 | +114.0% |
| Trade receivables | 40 | €3,250 | €2,668 | -€582 | -17.9% |
| Other amounts receivable | 41 | €1,770 | €8,076 | +€6,306 | +356.3% |
| Cash at bank and in hand | 54/58 | €9,824 | €4,638 | -€5,186 | -52.8% |
| Deferred charges and accrued income | 490/1 | €444 | €1,040 | +€596 | +134.2% |
| Total equity and liabilities | 10/49 | €227,064 | €565,583 | +€338,519 | +149.1% |
| Equity | 10/15 | -€9,289 | -€29,579 | -€20,290 | -218.4% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€19,289 | -€39,579 | -€20,290 | -105.2% |
| Amounts payable | 17/49 | €236,353 | €595,162 | +€358,809 | +151.8% |
| Amounts payable after more than one year | 17 | €128,198 | €387,720 | +€259,523 | +202.4% |
| Financial debts | 170/4 | €128,198 | €387,720 | +€259,523 | +202.4% |
| Amounts payable within one year | 42/48 | €108,155 | €207,442 | +€99,287 | +91.8% |
| Current portion of amounts payable after more than one year | 42 | €8,614 | €23,428 | +€14,814 | +172.0% |
| Trade debts | 44 | €17,052 | €39,922 | +€22,870 | +134.1% |
| Suppliers | 440/4 | €17,052 | €39,922 | +€22,870 | +134.1% |
| Taxes, remuneration and social security | 45 | €589 | €1,404 | +€814 | +138.2% |
| Taxes | 450/3 | €589 | €1,404 | +€814 | +138.2% |
| Other amounts payable | 47/48 | €81,900 | €142,688 | +€60,788 | +74.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,352 | €16,202 | +€3,850 | +31.2% |
| Other operating charges | 640/8 | €673 | €661 | -€12 | -1.8% |
| Gross operating margin | 9900 | €38,000 | €6,949 | -€31,050 | -81.7% |
| Operating profit (loss) | 9901 | €24,974 | -€9,914 | -€34,888 | |
| Financial income | 75/76B | €23 | €30 | +€7 | +29.1% |
| Recurring financial income | 75 | €23 | €30 | +€7 | +29.1% |
| Financial charges | 65/66B | €3,968 | €10,406 | +€6,438 | +162.3% |
| Recurring financial charges | 65 | €3,968 | €10,406 | +€6,438 | +162.3% |
| Profit (loss) for the period before taxes | 9903 | €21,030 | -€20,290 | -€41,320 | |
| Profit (loss) for the period | 9904 | €21,030 | -€20,290 | -€41,320 | |
| Profit (loss) for the period to be appropriated | 9905 | €21,030 | -€20,290 | -€41,320 |
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 4 October 2026 via checked.be.