MAMARES: 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.
MAMARES
Largest movements
- Receivables within one year -€97,222
down €97,222 (-86.3%), from €112,641 to €15,419
of which Trade receivables: -€97,479
- Cash +€47,311
up €47,311 (+81.2%), from €58,232 to €105,543
mainly Receivables within one year (+€97,222) and Other debts (+€89,682)
- Tangible fixed assets -€19,746
down €19,746 (-7.7%), from €255,213 to €235,467
of which Land and buildings: -€13,718
- Deferred charges and accrued income +€4,510
up €4,510 (+222.2%), from €2,029 to €6,539
- Reserves -€102,500
down €102,500 (-36.9%), from €277,847 to €175,347
- Other debts +€89,682
up €89,682 (+869.2%), from €10,318 to €100,000
- Advances received -€18,270
down €18,270 (-20.6%), from €88,575 to €70,305
- Tax, wage and social debts -€16,374
down €16,374 (-79.4%), from €20,616 to €4,242
- Trade debts -€7,141
down €7,141 (-97.3%), from €7,341 to €200
- Gross operating margin -€6,708
down €6,708 (-22.7%), from €29,513 to €22,806
- Financial charges -€2,379
down €2,379 (-86.0%), from €2,767 to €388
- Taxes -€999
down €999 (-36.4%), from €2,742 to €1,743
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 | €428,116 | €362,968 | -€65,148 | -15.2% |
| Fixed assets | 21/28 | €255,213 | €235,467 | -€19,746 | -7.7% |
| Tangible fixed assets | 22/27 | €255,213 | €235,467 | -€19,746 | -7.7% |
| Land and buildings | 22 | €244,959 | €231,241 | -€13,718 | -5.6% |
| Plant, machinery and equipment | 23 | €3,984 | €507 | -€3,478 | -87.3% |
| Furniture and vehicles | 24 | €6,269 | €3,719 | -€2,550 | -40.7% |
| Current assets | 29/58 | €172,903 | €127,501 | -€45,402 | -26.3% |
| Amounts receivable within one year | 40/41 | €112,641 | €15,419 | -€97,222 | -86.3% |
| Trade receivables | 40 | €97,641 | €162 | -€97,479 | -99.8% |
| Other amounts receivable | 41 | €15,000 | €15,257 | +€257 | +1.7% |
| Cash at bank and in hand | 54/58 | €58,232 | €105,543 | +€47,311 | +81.2% |
| Deferred charges and accrued income | 490/1 | €2,029 | €6,539 | +€4,510 | +222.2% |
| Total equity and liabilities | 10/49 | €428,116 | €362,968 | -€65,148 | -15.2% |
| Equity | 10/15 | €289,054 | €184,131 | -€104,924 | -36.3% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €277,847 | €175,347 | -€102,500 | -36.9% |
| Distributable reserves | 133 | €277,847 | €175,347 | -€102,500 | -36.9% |
| Profit (loss) carried forward | 14 | €1,207 | -€1,217 | -€2,424 | |
| Amounts payable | 17/49 | €139,062 | €178,838 | +€39,776 | +28.6% |
| Amounts payable after more than one year | 17 | €4,091 | €0 | -€4,091 | -100.0% |
| Financial debts | 170/4 | €4,091 | €0 | -€4,091 | -100.0% |
| Amounts payable within one year | 42/48 | €134,971 | €178,838 | +€43,867 | +32.5% |
| Current portion of amounts payable after more than one year | 42 | €8,120 | €4,091 | -€4,030 | -49.6% |
| Trade debts | 44 | €7,341 | €200 | -€7,141 | -97.3% |
| Suppliers | 440/4 | €7,341 | €200 | -€7,141 | -97.3% |
| Advances received on contracts in progress | 46 | €88,575 | €70,305 | -€18,270 | -20.6% |
| Taxes, remuneration and social security | 45 | €20,616 | €4,242 | -€16,374 | -79.4% |
| Taxes | 450/3 | €20,616 | €4,242 | -€16,374 | -79.4% |
| Other amounts payable | 47/48 | €10,318 | €100,000 | +€89,682 | +869.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,568 | €19,746 | +€178 | +0.9% |
| Other operating charges | 640/8 | €3,229 | €3,371 | +€142 | +4.4% |
| Gross operating margin | 9900 | €29,513 | €22,806 | -€6,708 | -22.7% |
| Operating profit (loss) | 9901 | €6,716 | -€312 | -€7,028 | |
| Financial income | 75/76B | €0 | €20 | +€20 | |
| Recurring financial income | 75 | €0 | €20 | +€20 | |
| Financial charges | 65/66B | €2,767 | €388 | -€2,379 | -86.0% |
| Recurring financial charges | 65 | €2,767 | €388 | -€2,379 | -86.0% |
| Profit (loss) for the period before taxes | 9903 | €3,949 | -€680 | -€4,629 | |
| Income taxes | 67/77 | €2,742 | €1,743 | -€999 | -36.4% |
| Profit (loss) for the period | 9904 | €1,207 | -€2,424 | -€3,631 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,207 | -€2,424 | -€3,631 |
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 7 October 2026 via checked.be.