PMZ MARENGO: what changed
Two financial 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.
PMZ MARENGO
Largest movements
- Tangible fixed assets -€89,543
down €89,543 (-2.5%), from €3.6m to €3.5m
- Debts after one year -€103,555
down €103,555 (-3.7%), from €2.8m to €2.7m
- Depreciation -€88,892
down €88,892 (-49.8%), from €178,435 to €89,543
- Gross operating margin -€15,904
down €15,904 (-6.0%), from €264,738 to €248,834
- Other operating charges -€7,283
down €7,283 (-30.1%), from €24,230 to €16,948
- Financial charges +€3,165
up €3,165 (+2.6%), from €122,386 to €125,551
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.
Derived cash bridge
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 | €3,600,812 | €3,514,473 | -€86,339 | -2.4% |
| Fixed assets | 21/28 | €3,552,531 | €3,462,988 | -€89,543 | -2.5% |
| Tangible fixed assets | 22/27 | €3,552,531 | €3,462,988 | -€89,543 | -2.5% |
| Land and buildings | 22 | €3,552,531 | €3,462,988 | -€89,543 | -2.5% |
| Current assets | 29/58 | €48,281 | €51,485 | +€3,205 | +6.6% |
| Amounts receivable within one year | 40/41 | - | €15,000 | +€15,000 | |
| Other amounts receivable | 41 | - | €15,000 | +€15,000 | |
| Cash at bank and in hand | 54/58 | €43,835 | €36,485 | -€7,350 | -16.8% |
| Deferred charges and accrued income | 490/1 | €4,446 | - | -€4,446 | |
| Total equity and liabilities | 10/49 | €3,600,812 | €3,514,473 | -€86,339 | -2.4% |
| Equity | 10/15 | €1,187 | €17,979 | +€16,792 | +1,415% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€60,313 | -€43,521 | +€16,792 | +27.8% |
| Amounts payable | 17/49 | €3,599,625 | €3,496,494 | -€103,131 | -2.9% |
| Amounts payable after more than one year | 17 | €2,796,994 | €2,693,440 | -€103,555 | -3.7% |
| Financial debts | 170/4 | €2,796,994 | €2,693,440 | -€103,555 | -3.7% |
| Amounts payable within one year | 42/48 | €802,631 | €803,055 | +€424 | +0.1% |
| Current portion of amounts payable after more than one year | 42 | €99,105 | €103,555 | +€4,450 | +4.5% |
| Trade debts | 44 | €4,540 | - | -€4,540 | |
| Suppliers | 440/4 | €4,540 | - | -€4,540 | |
| Other amounts payable | 47/48 | €698,986 | €699,500 | +€514 | +0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €178,435 | €89,543 | -€88,892 | -49.8% |
| Other operating charges | 640/8 | €24,230 | €16,948 | -€7,283 | -30.1% |
| Gross operating margin | 9900 | €264,738 | €248,834 | -€15,904 | -6.0% |
| Operating profit (loss) | 9901 | €62,073 | €142,343 | +€80,270 | +129% |
| Financial charges | 65/66B | €122,386 | €125,551 | +€3,165 | +2.6% |
| Recurring financial charges | 65 | €122,386 | €125,551 | +€3,165 | +2.6% |
| Profit (loss) for the period before taxes | 9903 | -€60,313 | €16,792 | +€77,105 | |
| Profit (loss) for the period | 9904 | -€60,313 | €16,792 | +€77,105 | |
| Profit (loss) for the period to be appropriated | 9905 | -€60,313 | €16,792 | +€77,105 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.