Mar-I-Mar: 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-I-Mar
Largest movements
- Cash -€36,578
down €36,578 (-66.6%), from €54,956 to €18,378
mainly Receivables within one year (-€25,208) and Contributions, distributions and other (-€20,000)
- Receivables within one year +€25,208
up €25,208 (+103%), from €24,454 to €49,662
of which Trade receivables: +€25,190
- Reserves -€8,885
down €8,885 (-15.2%), from €58,476 to €49,591
- Tax, wage and social debts -€3,917
down €3,917 (-21.0%), from €18,655 to €14,739
- Trade debts +€1,647
up €1,647 (+528%), from €312 to €1,959
- Gross operating margin -€23,960
down €23,960 (-53.4%), from €44,852 to €20,892
- Taxes -€4,234
down €4,234 (-40.1%), from €10,568 to €6,334
- Financial charges +€755
up €755 (+57.8%), from €1,306 to €2,060
- Other operating charges +€532
up €532 (+76.2%), from €699 to €1,232
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 | €79,943 | €68,788 | -€11,155 | -14.0% |
| Fixed assets | 21/28 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Current assets | 29/58 | €79,943 | €68,788 | -€11,155 | -14.0% |
| Amounts receivable within one year | 40/41 | €24,454 | €49,662 | +€25,208 | +103% |
| Trade receivables | 40 | €24,444 | €49,634 | +€25,190 | +103% |
| Other amounts receivable | 41 | €10 | €28 | +€18 | +186% |
| Cash at bank and in hand | 54/58 | €54,956 | €18,378 | -€36,578 | -66.6% |
| Deferred charges and accrued income | 490/1 | €533 | €749 | +€216 | +40.5% |
| Total equity and liabilities | 10/49 | €79,943 | €68,788 | -€11,155 | -14.0% |
| Equity | 10/15 | €60,976 | €52,091 | -€8,885 | -14.6% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €58,476 | €49,591 | -€8,885 | -15.2% |
| Distributable reserves | 133 | €58,476 | €49,591 | -€8,885 | -15.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €18,967 | €16,698 | -€2,269 | -12.0% |
| Amounts payable within one year | 42/48 | €18,967 | €16,698 | -€2,269 | -12.0% |
| Trade debts | 44 | €312 | €1,959 | +€1,647 | +528% |
| Suppliers | 440/4 | €312 | €1,959 | +€1,647 | +528% |
| Taxes, remuneration and social security | 45 | €18,655 | €14,739 | -€3,917 | -21.0% |
| Taxes | 450/3 | €18,655 | €14,739 | -€3,917 | -21.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35 | €0 | -€35 | -100% |
| Other operating charges | 640/8 | €699 | €1,232 | +€532 | +76.2% |
| Non-recurring operating charges | 66A | - | €404 | +€404 | |
| Gross operating margin | 9900 | €44,852 | €20,892 | -€23,960 | -53.4% |
| Operating profit (loss) | 9901 | €44,118 | €19,256 | -€24,862 | -56.4% |
| Financial income | 75/76B | €304 | €253 | -€51 | -16.8% |
| Recurring financial income | 75 | €304 | €253 | -€51 | -16.8% |
| Financial charges | 65/66B | €1,306 | €2,060 | +€755 | +57.8% |
| Recurring financial charges | 65 | €1,306 | €2,060 | +€755 | +57.8% |
| Profit (loss) for the period before taxes | 9903 | €43,116 | €17,449 | -€25,668 | -59.5% |
| Income taxes | 67/77 | €10,568 | €6,334 | -€4,234 | -40.1% |
| Profit (loss) for the period | 9904 | €32,548 | €11,115 | -€21,433 | -65.9% |
| Profit (loss) for the period to be appropriated | 9905 | €32,548 | €11,115 | -€21,433 | -65.9% |
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 27 October 2026 via checked.be.