MAR FOOD: 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.
MAR FOOD
Largest movements
- Current investments +€100,000
up €100,000 (+26.2%), from €381,500 to €481,500
- Cash -€88,067
down €88,067 (-25.4%), from €346,459 to €258,392
mainly Current investments (-€100,000) and Contributions, distributions and other (-€89,567)
- Reserves -€70,245
down €70,245 (-7.5%), from €940,339 to €870,094
of which Distributable reserves: -€70,245
- Other debts +€67,474
up €67,474 (+40.1%), from €168,283 to €235,757
- Gross operating margin -€81,910
down €81,910 (-56.4%), from €145,165 to €63,254
- Financial charges -€6,533
down €6,533 (-40.9%), from €15,979 to €9,446
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 | €1,250,806 | €1,252,598 | +€1,792 | +0.1% |
| Fixed assets | 21/28 | €520,520 | €509,427 | -€11,094 | -2.1% |
| Tangible fixed assets | 22/27 | €176,233 | €165,139 | -€11,094 | -6.3% |
| Land and buildings | 22 | €151,505 | €147,505 | -€4,000 | -2.6% |
| Plant, machinery and equipment | 23 | €803 | - | -€803 | |
| Furniture and vehicles | 24 | €23,925 | €17,634 | -€6,290 | -26.3% |
| Financial fixed assets | 28 | €344,287 | €344,287 | = | 0.0% |
| Current assets | 29/58 | €730,286 | €743,171 | +€12,885 | +1.8% |
| Amounts receivable within one year | 40/41 | €1,187 | - | -€1,187 | |
| Other amounts receivable | 41 | €1,187 | - | -€1,187 | |
| Current investments | 50/53 | €381,500 | €481,500 | +€100,000 | +26.2% |
| Cash at bank and in hand | 54/58 | €346,459 | €258,392 | -€88,067 | -25.4% |
| Deferred charges and accrued income | 490/1 | €1,140 | €3,279 | +€2,139 | +188% |
| Total equity and liabilities | 10/49 | €1,250,806 | €1,252,598 | +€1,792 | +0.1% |
| Equity | 10/15 | €1,065,192 | €994,947 | -€70,245 | -6.6% |
| Contributions | 10/11 | €80,565 | €80,565 | = | 0.0% |
| Capital | 10 | €80,565 | €80,565 | = | 0.0% |
| Issued capital | 100 | €80,565 | €80,565 | = | 0.0% |
| Reserves | 13 | €940,339 | €870,094 | -€70,245 | -7.5% |
| Non-distributable reserves | 130/1 | €8,057 | €8,057 | = | 0.0% |
| Legal reserve | 130 | €8,057 | €8,057 | = | 0.0% |
| Tax-exempt reserves | 132 | €5,873 | €5,873 | = | 0.0% |
| Distributable reserves | 133 | €926,410 | €856,165 | -€70,245 | -7.6% |
| Profit (loss) carried forward | 14 | €44,287 | €44,287 | = | 0.0% |
| Amounts payable | 17/49 | €185,614 | €257,651 | +€72,037 | +38.8% |
| Amounts payable within one year | 42/48 | €185,614 | €248,979 | +€63,365 | +34.1% |
| Trade debts | 44 | €2,584 | €1,616 | -€968 | -37.4% |
| Suppliers | 440/4 | €2,584 | €1,616 | -€968 | -37.4% |
| Taxes, remuneration and social security | 45 | €14,747 | €11,606 | -€3,141 | -21.3% |
| Taxes | 450/3 | €14,747 | €11,606 | -€3,141 | -21.3% |
| Other amounts payable | 47/48 | €168,283 | €235,757 | +€67,474 | +40.1% |
| Accrued charges and deferred income | 492/3 | - | €8,672 | +€8,672 | |
| Non-recurring operating income | 76A | €78,540 | - | -€78,540 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,329 | €11,094 | -€236 | -2.1% |
| Other operating charges | 640/8 | €12,013 | €12,750 | +€737 | +6.1% |
| Gross operating margin | 9900 | €145,165 | €63,254 | -€81,910 | -56.4% |
| Operating profit (loss) | 9901 | €121,823 | €39,411 | -€82,412 | -67.6% |
| Financial charges | 65/66B | €15,979 | €9,446 | -€6,533 | -40.9% |
| Recurring financial charges | 65 | €15,979 | €9,446 | -€6,533 | -40.9% |
| Profit (loss) for the period before taxes | 9903 | €105,843 | €29,965 | -€75,878 | -71.7% |
| Income taxes | 67/77 | €9,962 | €10,644 | +€681 | +6.8% |
| Profit (loss) for the period | 9904 | €95,881 | €19,321 | -€76,560 | -79.8% |
| Profit (loss) for the period to be appropriated | 9905 | €95,881 | €19,321 | -€76,560 | -79.8% |
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 31 October 2026 via checked.be.