MaerTec: 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.
MaerTec
Largest movements
- Tangible fixed assets +€121,955
up €121,955 (+3368.8%), from €3,620 to €125,575
of which Furniture and vehicles: +€87,469
- Current investments +€30,298
new in 2025: €30,298
- Cash -€15,666
down €15,666 (-12.6%), from €124,016 to €108,351
mainly Investment in fixed assets (net) (-€141,568) and Contributions, distributions and other (-€60,000)
- Receivables within one year -€8,247
down €8,247 (-8.0%), from €103,438 to €95,191
of which Trade receivables: -€8,247
- Reserves +€133,402
up €133,402 (+191.8%), from €69,540 to €202,942
- Other debts -€14,980
down €14,980 (-12.4%), from €121,044 to €106,064
- Tax, wage and social debts +€9,583
up €9,583 (+47.0%), from €20,393 to €29,975
of which Taxes: +€8,581
- Gross operating margin +€57,332
up €57,332 (+25.8%), from €221,829 to €279,161
- Depreciation +€19,160
up €19,160 (+4226.7%), from €453 to €19,613
- Taxes +€8,464
up €8,464 (+16.6%), from €50,842 to €59,305
- Financial charges +€5,006
up €5,006 (+326.8%), from €1,532 to €6,538
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €232,076 | €360,305 | +€128,229 | +55.3% |
| Fixed assets | 21/28 | €3,620 | €125,575 | +€121,955 | +3368.8% |
| Tangible fixed assets | 22/27 | €3,620 | €125,575 | +€121,955 | +3368.8% |
| Plant, machinery and equipment | 23 | €2,810 | €18,095 | +€15,285 | +544.0% |
| Furniture and vehicles | 24 | €810 | €88,280 | +€87,469 | +10794.3% |
| Other tangible fixed assets | 26 | - | €19,201 | +€19,201 | |
| Current assets | 29/58 | €228,456 | €234,729 | +€6,274 | +2.7% |
| Amounts receivable within one year | 40/41 | €103,438 | €95,191 | -€8,247 | -8.0% |
| Trade receivables | 40 | €102,938 | €94,691 | -€8,247 | -8.0% |
| Other amounts receivable | 41 | €500 | €500 | = | 0.0% |
| Current investments | 50/53 | - | €30,298 | +€30,298 | |
| Cash at bank and in hand | 54/58 | €124,016 | €108,351 | -€15,666 | -12.6% |
| Deferred charges and accrued income | 490/1 | €1,002 | €889 | -€113 | -11.2% |
| Total equity and liabilities | 10/49 | €232,076 | €360,305 | +€128,229 | +55.3% |
| Equity | 10/15 | €89,540 | €222,942 | +€133,402 | +149.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €69,540 | €202,942 | +€133,402 | +191.8% |
| Distributable reserves | 133 | €69,540 | €202,942 | +€133,402 | +191.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €142,536 | €137,362 | -€5,174 | -3.6% |
| Amounts payable within one year | 42/48 | €142,536 | €137,362 | -€5,174 | -3.6% |
| Trade debts | 44 | €1,099 | €1,323 | +€224 | +20.4% |
| Suppliers | 440/4 | €1,099 | €1,323 | +€224 | +20.4% |
| Taxes, remuneration and social security | 45 | €20,393 | €29,975 | +€9,583 | +47.0% |
| Taxes | 450/3 | €16,943 | €25,524 | +€8,581 | +50.6% |
| Remuneration and social security | 454/9 | €3,450 | €4,452 | +€1,002 | +29.0% |
| Other amounts payable | 47/48 | €121,044 | €106,064 | -€14,980 | -12.4% |
| Non-recurring operating income | 76A | - | €9,645 | +€9,645 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €453 | €19,613 | +€19,160 | +4226.7% |
| Other operating charges | 640/8 | €126 | €302 | +€176 | +140.0% |
| Gross operating margin | 9900 | €221,829 | €279,161 | +€57,332 | +25.8% |
| Operating profit (loss) | 9901 | €221,250 | €259,246 | +€37,996 | +17.2% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €1,532 | €6,538 | +€5,006 | +326.8% |
| Recurring financial charges | 65 | €1,532 | €6,538 | +€5,006 | +326.8% |
| Profit (loss) for the period before taxes | 9903 | €219,718 | €252,708 | +€32,990 | +15.0% |
| Income taxes | 67/77 | €50,842 | €59,305 | +€8,464 | +16.6% |
| Profit (loss) for the period | 9904 | €168,876 | €193,402 | +€24,526 | +14.5% |
| Profit (loss) for the period to be appropriated | 9905 | €168,876 | €193,402 | +€24,526 | +14.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.