MAARS BeLux: 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
MAARS BeLux
NACE 16.230, Manufacture of other builders' carpentry and joinery
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€101,454
2024 · €86,935+€14,520
Equity
€994,810
2024 · €893,356+€101,454
Cash
€457,873
2024 · €346,618+€111,255
Balance sheet total
€2.6m
2024 · €1.9m+€644,880
Largest movements
Assets
- Receivables within one year +€495,189
up €495,189 (+42.3%), from €1.2m to €1.7m
of which Trade receivables: +€838,743
- Cash +€111,255
up €111,255 (+32.1%), from €346,618 to €457,873
mainly Trade debts (+€914,105) and Net result for the year (+€101,454)
- Stocks and contracts +€86,876
up €86,876 (+35.6%), from €244,213 to €331,089
of which Stocks: +€168,258
- Tangible fixed assets -€45,220
down €45,220 (-28.1%), from €160,711 to €115,490
of which Plant, machinery and equipment: -€41,737
Equity and liabilities
- Trade debts +€914,105
up €914,105 (+185%), from €495,353 to €1.4m
- Other debts -€300,000
no longer reported in 2025 (was €300,000)
- Profit (loss) carried forward +€101,454
up €101,454 (+12.3%), from €825,156 to €926,610
- Advances received -€59,541
down €59,541 (-59.6%), from €99,894 to €40,353
Income statement
- Turnover +€1.9m
up €1.9m (+35.7%), from €5.4m to €7.3m
- Goods and materials +€1.7m
up €1.7m (+48.4%), from €3.5m to €5.1m
of which Purchases: +€1.8m
- Staff costs +€180,611
up €180,611 (+16.7%), from €1.1m to €1.3m
- Services and other goods -€148,897
down €148,897 (-18.4%), from €807,568 to €658,671
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
€86,935
Turnover
+€1.9m
Other operating income
+€11,161
Goods and materials
-€1.7m
Services and other goods
+€148,897
Staff costs
-€180,611
Depreciation
+€2,094
Other operating charges
+€1,612
Other operating items
-€173,568
Financial income
-€3,925
Financial charges
-€11,327
Taxes
-€21,092
Result 2025
€101,454
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€111,255
Investment
€0
Financing
€0
Cash 2024
€346,618
From operations (derived)
+€111,255
Net result for the year
+€101,454
Depreciation
+€45,220
Stocks and contracts
-€86,876
Receivables within one year
-€495,189
Deferred charges and accrued income
+€3,220
Trade debts
+€914,105
Tax, wage and social debts
-€12,375
Advances received
-€59,541
Other debts
-€300,000
Accrued charges and deferred income
+€1,236
Cash 2025
€457,873
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,927,125 | €2,572,004 | +€644,880 | +33.5% |
| Fixed assets | 21/28 | €160,711 | €115,490 | -€45,220 | -28.1% |
| Tangible fixed assets | 22/27 | €160,711 | €115,490 | -€45,220 | -28.1% |
| Plant, machinery and equipment | 23 | €156,561 | €114,825 | -€41,737 | -26.7% |
| Furniture and vehicles | 24 | €4,149 | €666 | -€3,484 | -84.0% |
| Current assets | 29/58 | €1,766,414 | €2,456,514 | +€690,100 | +39.1% |
| Stocks and contracts in progress | 3 | €244,213 | €331,089 | +€86,876 | +35.6% |
| Stocks | 30/36 | €48,404 | €216,662 | +€168,258 | +348% |
| Raw materials and consumables | 30/31 | €48,404 | €216,662 | +€168,258 | +348% |
| Contracts in progress | 37 | €195,809 | €114,427 | -€81,382 | -41.6% |
| Amounts receivable within one year | 40/41 | €1,171,843 | €1,667,032 | +€495,189 | +42.3% |
| Trade receivables | 40 | €818,844 | €1,657,587 | +€838,743 | +102% |
| Other amounts receivable | 41 | €352,999 | €9,445 | -€343,554 | -97.3% |
| Cash at bank and in hand | 54/58 | €346,618 | €457,873 | +€111,255 | +32.1% |
| Deferred charges and accrued income | 490/1 | €3,740 | €520 | -€3,220 | -86.1% |
| Total equity and liabilities | 10/49 | €1,927,125 | €2,572,004 | +€644,880 | +33.5% |
| Equity | 10/15 | €893,356 | €994,810 | +€101,454 | +11.4% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €825,156 | €926,610 | +€101,454 | +12.3% |
| Amounts payable | 17/49 | €1,033,769 | €1,577,194 | +€543,425 | +52.6% |
| Amounts payable within one year | 42/48 | €1,033,769 | €1,575,958 | +€542,189 | +52.4% |
| Trade debts | 44 | €495,353 | €1,409,458 | +€914,105 | +185% |
| Suppliers | 440/4 | €495,353 | €1,409,458 | +€914,105 | +185% |
| Advances received on contracts in progress | 46 | €99,894 | €40,353 | -€59,541 | -59.6% |
| Taxes, remuneration and social security | 45 | €138,521 | €126,146 | -€12,375 | -8.9% |
| Taxes | 450/3 | €25,635 | - | -€25,635 | |
| Remuneration and social security | 454/9 | €112,887 | €126,146 | +€13,260 | +11.7% |
| Other amounts payable | 47/48 | €300,000 | - | -€300,000 | |
| Accrued charges and deferred income | 492/3 | - | €1,236 | +€1,236 | |
| Operating income | 70/76A | €5,503,936 | €7,248,732 | +€1.7m | +31.7% |
| Turnover | 70 | €5,357,344 | €7,268,022 | +€1.9m | +35.7% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €99,281 | -€81,382 | -€180,663 | |
| Other operating income | 74 | €47,311 | €58,472 | +€11,161 | +23.6% |
| Non-recurring operating income | 76A | - | €3,620 | +€3,620 | |
| Operating charges | 60/66A | €5,403,369 | €7,097,302 | +€1.7m | +31.3% |
| Goods for resale, raw materials and consumables | 60 | €3,451,554 | €5,120,954 | +€1.7m | +48.4% |
| Purchases | 600/8 | €3,494,958 | €5,289,212 | +€1.8m | +51.3% |
| Change in stocks: decrease (increase) | 609 | -€43,404 | -€168,258 | -€124,854 | -288% |
| Services and other goods | 61 | €807,568 | €658,671 | -€148,897 | -18.4% |
| Remuneration, social security and pensions | 62 | €1,084,675 | €1,265,286 | +€180,611 | +16.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,314 | €45,220 | -€2,094 | -4.4% |
| Other operating charges | 640/8 | €8,782 | €7,170 | -€1,612 | -18.4% |
| Non-recurring operating charges | 66A | €3,475 | - | -€3,475 | |
| Operating profit (loss) | 9901 | €100,567 | €151,430 | +€50,863 | +50.6% |
| Financial income | 75/76B | €19,481 | €15,556 | -€3,925 | -20.1% |
| Recurring financial income | 75 | €19,481 | €15,556 | -€3,925 | -20.1% |
| Income from current assets | 751 | €3,520 | - | -€3,520 | |
| Other financial income | 752/9 | €15,961 | €15,556 | -€405 | -2.5% |
| Financial charges | 65/66B | €11,189 | €22,515 | +€11,327 | +101% |
| Recurring financial charges | 65 | €11,189 | €22,515 | +€11,327 | +101% |
| Debt charges | 650 | €6,754 | €19,669 | +€12,915 | +191% |
| Other financial charges | 652/9 | €4,435 | €2,846 | -€1,588 | -35.8% |
| Profit (loss) for the period before taxes | 9903 | €108,859 | €144,471 | +€35,612 | +32.7% |
| Income taxes | 67/77 | €21,924 | €43,016 | +€21,092 | +96.2% |
| Taxes | 670/3 | €25,000 | €43,016 | +€18,016 | +72.1% |
| Tax adjustments and reversals of tax provisions | 77 | €3,076 | - | -€3,076 | |
| Profit (loss) for the period | 9904 | €86,935 | €101,454 | +€14,520 | +16.7% |
| Profit (loss) for the period to be appropriated | 9905 | €86,935 | €101,454 | +€14,520 | +16.7% |
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 14 October 2026 via checked.be.