LA MAREE: 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.
What changed
LA MAREE
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€149,974
2024 · €177,907-€27,933
Equity
€2.0m
2024 · €2.0m+€152
Cash
€174,486
2024 · €79,722+€94,764
Balance sheet total
€6.2m
2024 · €6.5m-€279,512
Largest movements
Assets
- Tangible fixed assets -€401,088
down €401,088 (-6.2%), from €6.4m to €6.0m
of which Land and buildings: -€248,642
- Cash +€94,764
up €94,764 (+118.9%), from €79,722 to €174,486
mainly Depreciation (+€418,362) and Net result for the year (+€149,974)
Equity and liabilities
- Debts after one year -€477,500
down €477,500 (-11.4%), from €4.2m to €3.7m
- Other debts +€149,822
new in 2025: €149,822
Income statement
- Gross operating margin -€40,512
down €40,512 (-5.1%), from €793,356 to €752,844
- Financial income -€14,069
down €14,069 (-23.2%), from €60,664 to €46,595
- Taxes -€13,035
down €13,035 (-18.2%), from €71,794 to €58,759
- Depreciation -€8,787
down €8,787 (-2.1%), from €427,149 to €418,362
- Financial charges -€8,096
down €8,096 (-10.2%), from €79,173 to €71,077
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.
Result 2024
€177,907
Gross operating margin
-€40,512
Depreciation
+€8,787
Other operating charges
-€3,724
Financial income
-€14,069
Financial charges
+€8,096
Taxes
+€13,035
Deferred taxes and other
+€455
Result 2025
€149,974
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.
From operations
+€730,649
Investment
-€17,274
Financing
-€618,611
Cash 2024
€79,722
From operations (derived)
+€730,649
Net result for the year
+€149,974
Depreciation
+€418,362
Receivables within one year
-€26,303
Deferred charges and accrued income
-€509
Provisions
-€3,884
Trade debts
+€48,049
Tax, wage and social debts
-€11,994
Other debts
+€149,822
Accrued charges and deferred income
+€7,132
Investment (derived)
-€17,274
Investment in fixed assets (net)
-€17,274
Financing
-€618,611
Debts after one year
-€477,500
Current portion of long-term debt
+€8,712
Contributions, distributions and other
-€149,822
Cash 2025
€174,486
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,509,598 | €6,230,086 | -€279,512 | -4.3% |
| Fixed assets | 21/28 | €6,421,007 | €6,019,919 | -€401,088 | -6.2% |
| Tangible fixed assets | 22/27 | €6,421,007 | €6,019,919 | -€401,088 | -6.2% |
| Land and buildings | 22 | €4,686,608 | €4,437,966 | -€248,642 | -5.3% |
| Plant, machinery and equipment | 23 | €1,734,399 | €1,581,953 | -€152,446 | -8.8% |
| Current assets | 29/58 | €88,591 | €210,167 | +€121,576 | +137.2% |
| Amounts receivable within one year | 40/41 | €5,000 | €31,303 | +€26,303 | +526.1% |
| Trade receivables | 40 | - | €21,677 | +€21,677 | |
| Other amounts receivable | 41 | €5,000 | €9,626 | +€4,626 | +92.5% |
| Cash at bank and in hand | 54/58 | €79,722 | €174,486 | +€94,764 | +118.9% |
| Deferred charges and accrued income | 490/1 | €3,869 | €4,378 | +€509 | +13.2% |
| Total equity and liabilities | 10/49 | €6,509,598 | €6,230,086 | -€279,512 | -4.3% |
| Equity | 10/15 | €1,983,744 | €1,983,896 | +€152 | 0.0% |
| Contributions | 10/11 | €1,633,156 | €1,633,156 | -€0 | 0.0% |
| Capital | 10 | €1,633,156 | €1,633,156 | -€0 | 0.0% |
| Issued capital | 100 | €1,633,156 | €1,633,156 | -€0 | 0.0% |
| Reserves | 13 | €587,137 | €587,289 | +€152 | 0.0% |
| Non-distributable reserves | 130/1 | - | €8,730 | +€8,730 | |
| Legal reserve | 130 | - | €8,730 | +€8,730 | |
| Tax-exempt reserves | 132 | €113,571 | €104,017 | -€9,554 | -8.4% |
| Distributable reserves | 133 | €473,566 | €474,542 | +€976 | +0.2% |
| Profit (loss) carried forward | 14 | -€236,549 | -€236,549 | +€0 | 0.0% |
| Provisions and deferred taxes | 16 | €36,720 | €32,836 | -€3,884 | -10.6% |
| Deferred taxes | 168 | €36,720 | €32,836 | -€3,884 | -10.6% |
| Amounts payable | 17/49 | €4,489,134 | €4,213,354 | -€275,780 | -6.1% |
| Amounts payable after more than one year | 17 | €4,196,886 | €3,719,386 | -€477,500 | -11.4% |
| Financial debts | 170/4 | €4,196,886 | €3,719,386 | -€477,500 | -11.4% |
| Amounts payable within one year | 42/48 | €288,183 | €482,771 | +€194,588 | +67.5% |
| Current portion of amounts payable after more than one year | 42 | €268,788 | €277,500 | +€8,712 | +3.2% |
| Trade debts | 44 | €7,401 | €55,450 | +€48,049 | +649.2% |
| Suppliers | 440/4 | €5,939 | €55,450 | +€49,511 | +833.7% |
| Bills of exchange payable | 441 | €1,462 | - | -€1,462 | |
| Taxes, remuneration and social security | 45 | €11,994 | - | -€11,994 | |
| Taxes | 450/3 | €11,994 | - | -€11,994 | |
| Other amounts payable | 47/48 | - | €149,822 | +€149,822 | |
| Accrued charges and deferred income | 492/3 | €4,065 | €11,197 | +€7,132 | +175.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €427,149 | €418,362 | -€8,787 | -2.1% |
| Other operating charges | 640/8 | €101,426 | €105,150 | +€3,724 | +3.7% |
| Gross operating margin | 9900 | €793,356 | €752,844 | -€40,512 | -5.1% |
| Operating profit (loss) | 9901 | €264,781 | €229,332 | -€35,449 | -13.4% |
| Financial income | 75/76B | €60,664 | €46,595 | -€14,069 | -23.2% |
| Recurring financial income | 75 | €60,664 | €46,595 | -€14,069 | -23.2% |
| Financial charges | 65/66B | €79,173 | €71,077 | -€8,096 | -10.2% |
| Recurring financial charges | 65 | €79,173 | €71,077 | -€8,096 | -10.2% |
| Profit (loss) for the period before taxes | 9903 | €246,272 | €204,850 | -€41,422 | -16.8% |
| Transfer from deferred taxes | 780 | €3,429 | €3,884 | +€455 | +13.3% |
| Income taxes | 67/77 | €71,794 | €58,759 | -€13,035 | -18.2% |
| Profit (loss) for the period | 9904 | €177,907 | €149,974 | -€27,933 | -15.7% |
| Transfer from tax-exempt reserves | 789 | €8,473 | €9,554 | +€1,081 | +12.8% |
| Profit (loss) for the period to be appropriated | 9905 | €186,380 | €159,529 | -€26,851 | -14.4% |
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 11 October 2026 via checked.be.