MAENE MARC: 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.
MAENE MARC
Largest movements
- Receivables within one year +€141,045
up €141,045 (+54.6%), from €258,106 to €399,151
of which Other amounts receivable: +€73,775
- Tangible fixed assets -€27,018
down €27,018 (-15.5%), from €174,601 to €147,583
of which Land and buildings: -€16,518
- Cash -€13,004
down €13,004 (-44.1%), from €29,472 to €16,468
mainly Receivables within one year (-€141,045) and Contributions, distributions and other (-€20,730)
- Reserves +€98,054
up €98,054 (+24.4%), from €402,535 to €500,589
of which Distributable reserves: +€98,054
- Trade debts +€11,116
up €11,116 (+40.4%), from €27,492 to €38,608
- Tax, wage and social debts -€6,452
down €6,452 (-20.6%), from €31,384 to €24,933
of which Taxes: -€5,898
No income-statement line moved by more than 1% of the activity.
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 | €462,524 | €564,219 | +€101,695 | +22.0% |
| Fixed assets | 21/28 | €174,601 | €147,583 | -€27,018 | -15.5% |
| Tangible fixed assets | 22/27 | €174,601 | €147,583 | -€27,018 | -15.5% |
| Land and buildings | 22 | €135,527 | €119,009 | -€16,518 | -12.2% |
| Plant, machinery and equipment | 23 | €37,831 | €27,970 | -€9,861 | -26.1% |
| Furniture and vehicles | 24 | €1,243 | €604 | -€639 | -51.4% |
| Current assets | 29/58 | €287,924 | €416,636 | +€128,712 | +44.7% |
| Amounts receivable within one year | 40/41 | €258,106 | €399,151 | +€141,045 | +54.6% |
| Trade receivables | 40 | €4,066 | €71,336 | +€67,270 | +1,654% |
| Other amounts receivable | 41 | €254,040 | €327,815 | +€73,775 | +29.0% |
| Cash at bank and in hand | 54/58 | €29,472 | €16,468 | -€13,004 | -44.1% |
| Deferred charges and accrued income | 490/1 | €346 | €1,017 | +€671 | +194% |
| Total equity and liabilities | 10/49 | €462,524 | €564,219 | +€101,695 | +22.0% |
| Equity | 10/15 | €402,623 | €500,678 | +€98,054 | +24.4% |
| Contributions | 10/11 | €0 | - | = | |
| Reserves | 13 | €402,535 | €500,589 | +€98,054 | +24.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €402,535 | €500,589 | +€98,054 | +24.4% |
| Profit (loss) carried forward | 14 | €88 | €88 | = | 0.0% |
| Amounts payable | 17/49 | €59,901 | €63,541 | +€3,640 | +6.1% |
| Amounts payable within one year | 42/48 | €59,435 | €63,541 | +€4,107 | +6.9% |
| Trade debts | 44 | €27,492 | €38,608 | +€11,116 | +40.4% |
| Suppliers | 440/4 | €27,492 | €38,608 | +€11,116 | +40.4% |
| Taxes, remuneration and social security | 45 | €31,384 | €24,933 | -€6,452 | -20.6% |
| Taxes | 450/3 | €27,221 | €21,323 | -€5,898 | -21.7% |
| Remuneration and social security | 454/9 | €4,163 | €3,610 | -€553 | -13.3% |
| Other amounts payable | 47/48 | €558 | €0 | -€558 | -100% |
| Accrued charges and deferred income | 492/3 | €467 | €0 | -€467 | -100% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €63,699 | €63,394 | -€305 | -0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,917 | €28,779 | +€862 | +3.1% |
| Other operating charges | 640/8 | €7,210 | €7,097 | -€113 | -1.6% |
| Non-recurring operating charges | 66A | €0 | €106 | +€106 | |
| Gross operating margin | 9900 | €279,146 | €277,345 | -€1,801 | -0.6% |
| Operating profit (loss) | 9901 | €180,320 | €177,968 | -€2,351 | -1.3% |
| Financial income | 75/76B | €142 | €103 | -€39 | -27.3% |
| Recurring financial income | 75 | €142 | €103 | -€39 | -27.3% |
| Financial charges | 65/66B | €1,162 | €2,019 | +€858 | +73.8% |
| Recurring financial charges | 65 | €1,162 | €2,019 | +€858 | +73.8% |
| Profit (loss) for the period before taxes | 9903 | €179,300 | €176,052 | -€3,248 | -1.8% |
| Income taxes | 67/77 | €57,790 | €57,268 | -€522 | -0.9% |
| Profit (loss) for the period | 9904 | €121,511 | €118,784 | -€2,726 | -2.2% |
| Profit (loss) for the period to be appropriated | 9905 | €121,511 | €118,784 | -€2,726 | -2.2% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.