LA MAREE: 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.
LA MAREE
Largest movements
- Cash +€127,044
up €127,044 (+208.7%), from €60,870 to €187,914
mainly Net result for the year (+€103,671) and Stocks and contracts (+€64,609)
- Stocks and contracts -€64,609
down €64,609 (-27.5%), from €234,672 to €170,063
- Receivables within one year +€44,082
up €44,082 (+22.0%), from €200,610 to €244,692
of which Trade receivables: +€46,246
- Profit (loss) carried forward +€103,671
up €103,671 (+10.9%), from -€953,571 to -€849,900
- Tax, wage and social debts -€32,180
down €32,180 (-12.7%), from €253,383 to €221,202
of which Remuneration and social security: -€18,141
- Trade debts +€21,901
up €21,901 (+11.1%), from €196,474 to €218,375
- Other debts +€10,929
up €10,929 (+1.8%), from €605,993 to €616,922
- Staff costs -€41,812
down €41,812 (-70.0%), from €59,742 to €17,929
- Gross operating margin +€36,652
up €36,652 (+41.9%), from €87,460 to €124,112
- Other operating charges -€15,219
down €15,219 (-90.0%), from €16,916 to €1,697
- Depreciation -€3,145
down €3,145 (-79.4%), from €3,960 to €815
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 | €613,066 | €717,077 | +€104,011 | +17.0% |
| Fixed assets | 21/28 | €114,819 | €114,005 | -€815 | -0.7% |
| Tangible fixed assets | 22/27 | €112,995 | €112,181 | -€815 | -0.7% |
| Land and buildings | 22 | €112,189 | €112,114 | -€75 | -0.1% |
| Plant, machinery and equipment | 23 | €85 | €0 | -€85 | -100.0% |
| Furniture and vehicles | 24 | €722 | €67 | -€655 | -90.7% |
| Financial fixed assets | 28 | €1,824 | €1,824 | = | 0.0% |
| Current assets | 29/58 | €498,247 | €603,072 | +€104,826 | +21.0% |
| Stocks and contracts in progress | 3 | €234,672 | €170,063 | -€64,609 | -27.5% |
| Stocks | 30/36 | €234,672 | €170,063 | -€64,609 | -27.5% |
| Amounts receivable within one year | 40/41 | €200,610 | €244,692 | +€44,082 | +22.0% |
| Trade receivables | 40 | €176,948 | €223,194 | +€46,246 | +26.1% |
| Other amounts receivable | 41 | €23,662 | €21,498 | -€2,164 | -9.1% |
| Cash at bank and in hand | 54/58 | €60,870 | €187,914 | +€127,044 | +208.7% |
| Deferred charges and accrued income | 490/1 | €2,094 | €404 | -€1,691 | -80.7% |
| Total equity and liabilities | 10/49 | €613,066 | €717,077 | +€104,011 | +17.0% |
| Equity | 10/15 | -€443,168 | -€339,497 | +€103,671 | +23.4% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €437,327 | €437,327 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Distributable reserves | 133 | €431,130 | €431,130 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€953,571 | -€849,900 | +€103,671 | +10.9% |
| Investment grants | 15 | €11,104 | €11,104 | = | 0.0% |
| Amounts payable | 17/49 | €1,056,234 | €1,056,574 | +€340 | 0.0% |
| Amounts payable within one year | 42/48 | €1,055,849 | €1,056,574 | +€724 | +0.1% |
| Financial debts | 43 | - | €74 | +€74 | |
| Credit institutions | 430/8 | - | €74 | +€74 | |
| Trade debts | 44 | €196,474 | €218,375 | +€21,901 | +11.1% |
| Suppliers | 440/4 | €196,474 | €218,375 | +€21,901 | +11.1% |
| Taxes, remuneration and social security | 45 | €253,383 | €221,202 | -€32,180 | -12.7% |
| Taxes | 450/3 | €113,750 | €99,710 | -€14,040 | -12.3% |
| Remuneration and social security | 454/9 | €139,633 | €121,492 | -€18,141 | -13.0% |
| Other amounts payable | 47/48 | €605,993 | €616,922 | +€10,929 | +1.8% |
| Accrued charges and deferred income | 492/3 | €384 | €0 | -€384 | -100.0% |
| Remuneration, social security and pensions | 62 | €59,742 | €17,929 | -€41,812 | -70.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,960 | €815 | -€3,145 | -79.4% |
| Other operating charges | 640/8 | €16,916 | €1,697 | -€15,219 | -90.0% |
| Gross operating margin | 9900 | €87,460 | €124,112 | +€36,652 | +41.9% |
| Operating profit (loss) | 9901 | €6,843 | €103,671 | +€96,829 | +1415.1% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €48 | €0 | -€48 | -100.0% |
| Recurring financial charges | 65 | €48 | €0 | -€48 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | €6,795 | €103,671 | +€96,877 | +1425.8% |
| Income taxes | 67/77 | €164 | €0 | -€164 | -100.0% |
| Profit (loss) for the period | 9904 | €6,630 | €103,671 | +€97,041 | +1463.6% |
| Profit (loss) for the period to be appropriated | 9905 | €6,630 | €103,671 | +€97,041 | +1463.6% |
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 7 October 2026 via checked.be.