MARZOK: 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.
MARZOK
Largest movements
- Stocks and contracts +€45,000
up €45,000 (+221.5%), from €20,312 to €65,312
- Cash +€37,802
up €37,802 (+78.8%), from €47,966 to €85,768
mainly Trade debts (+€130,568) and Net result for the year (+€10,358)
- Tangible fixed assets +€23,198
up €23,198 (+376.7%), from €6,157 to €29,355
of which Other tangible fixed assets: +€13,390
- Receivables within one year +€14,798
up €14,798 (+64.0%), from €23,131 to €37,929
of which Other amounts receivable: +€10,745
- Formation expenses -€4,900
down €4,900 (-10.6%), from €46,028 to €41,128
- Trade debts +€130,568
up €130,568 (+239.8%), from €54,451 to €185,018
- Tax, wage and social debts -€25,487
down €25,487 (-29.5%), from €86,527 to €61,040
of which Remuneration and social security: -€21,728
- Profit (loss) carried forward +€10,358
up €10,358 (+100.6%), from €10,297 to €20,655
- Other debts -€4,000
down €4,000 (-63.2%), from €6,333 to €2,333
- Gross operating margin +€120,218
up €120,218 (+55.4%), from €216,871 to €337,089
- Staff costs +€103,515
up €103,515 (+52.6%), from €196,741 to €300,256
- Financial charges +€9,617
up €9,617 (+296.1%), from €3,249 to €12,866
- Depreciation +€3,849
up €3,849 (+110.3%), from €3,489 to €7,338
- Taxes +€3,504
up €3,504 (+128.7%), from €2,723 to €6,227
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 | €160,608 | €273,248 | +€112,640 | +70.1% |
| Formation expenses | 20 | €46,028 | €41,128 | -€4,900 | -10.6% |
| Fixed assets | 21/28 | €6,157 | €29,355 | +€23,198 | +376.7% |
| Tangible fixed assets | 22/27 | €6,157 | €29,355 | +€23,198 | +376.7% |
| Plant, machinery and equipment | 23 | - | €12,032 | +€12,032 | |
| Furniture and vehicles | 24 | €6,157 | €3,933 | -€2,224 | -36.1% |
| Other tangible fixed assets | 26 | - | €13,390 | +€13,390 | |
| Current assets | 29/58 | €108,423 | €202,765 | +€94,342 | +87.0% |
| Stocks and contracts in progress | 3 | €20,312 | €65,312 | +€45,000 | +221.5% |
| Stocks | 30/36 | €20,312 | €65,312 | +€45,000 | +221.5% |
| Amounts receivable within one year | 40/41 | €23,131 | €37,929 | +€14,798 | +64.0% |
| Trade receivables | 40 | €1,495 | €5,548 | +€4,053 | +271.2% |
| Other amounts receivable | 41 | €21,637 | €32,381 | +€10,745 | +49.7% |
| Cash at bank and in hand | 54/58 | €47,966 | €85,768 | +€37,802 | +78.8% |
| Deferred charges and accrued income | 490/1 | €17,014 | €13,756 | -€3,258 | -19.2% |
| Total equity and liabilities | 10/49 | €160,608 | €273,248 | +€112,640 | +70.1% |
| Equity | 10/15 | €13,297 | €23,655 | +€10,358 | +77.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,297 | €20,655 | +€10,358 | +100.6% |
| Amounts payable | 17/49 | €147,311 | €249,593 | +€102,282 | +69.4% |
| Amounts payable within one year | 42/48 | €147,311 | €248,392 | +€101,081 | +68.6% |
| Trade debts | 44 | €54,451 | €185,018 | +€130,568 | +239.8% |
| Suppliers | 440/4 | €54,451 | €185,018 | +€130,568 | +239.8% |
| Taxes, remuneration and social security | 45 | €86,527 | €61,040 | -€25,487 | -29.5% |
| Taxes | 450/3 | €45,188 | €41,429 | -€3,759 | -8.3% |
| Remuneration and social security | 454/9 | €41,339 | €19,611 | -€21,728 | -52.6% |
| Other amounts payable | 47/48 | €6,333 | €2,333 | -€4,000 | -63.2% |
| Accrued charges and deferred income | 492/3 | - | €1,201 | +€1,201 | |
| Remuneration, social security and pensions | 62 | €196,741 | €300,256 | +€103,515 | +52.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,489 | €7,338 | +€3,849 | +110.3% |
| Other operating charges | 640/8 | €387 | €57 | -€331 | -85.4% |
| Gross operating margin | 9900 | €216,871 | €337,089 | +€120,218 | +55.4% |
| Operating profit (loss) | 9901 | €16,253 | €29,439 | +€13,185 | +81.1% |
| Financial income | 75/76B | €15 | €13 | -€3 | -17.9% |
| Recurring financial income | 75 | €15 | €13 | -€3 | -17.9% |
| Financial charges | 65/66B | €3,249 | €12,866 | +€9,617 | +296.1% |
| Recurring financial charges | 65 | €3,249 | €12,866 | +€9,617 | +296.1% |
| Profit (loss) for the period before taxes | 9903 | €13,020 | €16,585 | +€3,565 | +27.4% |
| Income taxes | 67/77 | €2,723 | €6,227 | +€3,504 | +128.7% |
| Profit (loss) for the period | 9904 | €10,297 | €10,358 | +€61 | +0.6% |
| Profit (loss) for the period to be appropriated | 9905 | €10,297 | €10,358 | +€61 | +0.6% |
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 8 October 2026 via checked.be.