MAR LE BEAU: 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 LE BEAU
Largest movements
- Tangible fixed assets +€50,133
up €50,133 (+5.9%), from €844,198 to €894,331
of which Land and buildings: +€48,995
- Receivables within one year -€20,195
down €20,195 (-21.1%), from €95,833 to €75,638
of which Other amounts receivable: -€18,595
- Debts after one year +€61,162
up €61,162 (+11.5%), from €530,057 to €591,219
- Reserves -€56,105
down €56,105 (-18.9%), from €297,628 to €241,523
of which Distributable reserves: -€56,105
- Depreciation +€9,116
up €9,116 (+18.5%), from €49,157 to €58,273
- Other operating charges +€7,707
up €7,707 (+94.4%), from €8,168 to €15,875
- Financial charges +€6,146
up €6,146 (+30.1%), from €20,416 to €26,562
- Gross operating margin +€3,203
up €3,203 (+4.5%), from €70,682 to €73,885
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 | €951,531 | €977,512 | +€25,981 | +2.7% |
| Fixed assets | 21/28 | €844,198 | €894,331 | +€50,133 | +5.9% |
| Tangible fixed assets | 22/27 | €844,198 | €894,331 | +€50,133 | +5.9% |
| Land and buildings | 22 | €822,905 | €871,899 | +€48,995 | +6.0% |
| Plant, machinery and equipment | 23 | €21,293 | €22,431 | +€1,138 | +5.3% |
| Current assets | 29/58 | €107,334 | €83,182 | -€24,152 | -22.5% |
| Amounts receivable within one year | 40/41 | €95,833 | €75,638 | -€20,195 | -21.1% |
| Trade receivables | 40 | €1,600 | - | -€1,600 | |
| Other amounts receivable | 41 | €94,233 | €75,638 | -€18,595 | -19.7% |
| Current investments | 50/53 | €6,901 | €1,911 | -€4,989 | -72.3% |
| Cash at bank and in hand | 54/58 | €2,772 | €2,985 | +€214 | +7.7% |
| Deferred charges and accrued income | 490/1 | €1,828 | €2,647 | +€819 | +44.8% |
| Total equity and liabilities | 10/49 | €951,531 | €977,512 | +€25,981 | +2.7% |
| Equity | 10/15 | €359,602 | €303,497 | -€56,105 | -15.6% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €297,628 | €241,523 | -€56,105 | -18.9% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Tax-exempt reserves | 132 | €40,099 | €40,099 | = | 0.0% |
| Distributable reserves | 133 | €251,332 | €195,227 | -€56,105 | -22.3% |
| Amounts payable | 17/49 | €591,929 | €674,016 | +€82,086 | +13.9% |
| Amounts payable after more than one year | 17 | €530,057 | €591,219 | +€61,162 | +11.5% |
| Financial debts | 170/4 | €530,057 | €591,219 | +€61,162 | +11.5% |
| Amounts payable within one year | 42/48 | €61,872 | €82,796 | +€20,924 | +33.8% |
| Current portion of amounts payable after more than one year | 42 | €30,979 | €39,726 | +€8,747 | +28.2% |
| Trade debts | 44 | €1,350 | €9,660 | +€8,310 | +616% |
| Suppliers | 440/4 | €1,350 | €9,660 | +€8,310 | +616% |
| Taxes, remuneration and social security | 45 | €39 | €1,787 | +€1,748 | +4,426% |
| Taxes | 450/3 | €39 | €1,787 | +€1,748 | +4,426% |
| Other amounts payable | 47/48 | €29,504 | €31,624 | +€2,120 | +7.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,157 | €58,273 | +€9,116 | +18.5% |
| Other operating charges | 640/8 | €8,168 | €15,875 | +€7,707 | +94.4% |
| Gross operating margin | 9900 | €70,682 | €73,885 | +€3,203 | +4.5% |
| Operating profit (loss) | 9901 | €13,357 | -€263 | -€13,620 | |
| Financial income | 75/76B | €1,934 | €1,696 | -€238 | -12.3% |
| Recurring financial income | 75 | €1,934 | €1,696 | -€238 | -12.3% |
| Financial charges | 65/66B | €20,416 | €26,562 | +€6,146 | +30.1% |
| Recurring financial charges | 65 | €20,416 | €26,562 | +€6,146 | +30.1% |
| Profit (loss) for the period before taxes | 9903 | -€5,125 | -€25,129 | -€20,005 | -390% |
| Income taxes | 67/77 | €71 | €176 | +€105 | +147% |
| Profit (loss) for the period | 9904 | -€5,196 | -€25,305 | -€20,109 | -387% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,196 | -€25,305 | -€20,109 | -387% |
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 23 October 2026 via checked.be.