MARA: 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.
MARA
Largest movements
- Receivables within one year +€12,582
up €12,582 (+199.9%), from €6,293 to €18,876
- Tangible fixed assets -€2,312
down €2,312 (-22.9%), from €10,082 to €7,771
- Cash -€1,319
down €1,319 (-15.1%), from €8,712 to €7,393
mainly Receivables within one year (-€12,582) and Contributions, distributions and other (-€7,000)
- Profit (loss) carried forward +€4,380
up €4,380 (+69.7%), from €6,286 to €10,666
- Other debts +€3,498
up €3,498 (+32.9%), from €10,629 to €14,127
- Tax, wage and social debts +€1,388
up €1,388 (+34.0%), from €4,087 to €5,476
of which Taxes: +€2,888
- Trade debts -€500
down €500 (-37.5%), from €1,334 to €834
- Turnover +€9,210
up €9,210 (+15.5%), from €59,522 to €68,731
- Gross operating margin +€7,111
up €7,111 (+48.2%), from €14,744 to €21,854
- Purchases and services +€2,099
up €2,099 (+4.7%), from €44,778 to €46,877
- Taxes +€1,326
up €1,326 (+45.4%), from €2,922 to €4,248
- Depreciation +€961
up €961 (+25.2%), from €3,819 to €4,780
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 | €25,737 | €34,502 | +€8,766 | +34.1% |
| Fixed assets | 21/28 | €10,082 | €7,771 | -€2,312 | -22.9% |
| Tangible fixed assets | 22/27 | €10,082 | €7,771 | -€2,312 | -22.9% |
| Furniture and vehicles | 24 | €10,082 | €7,771 | -€2,312 | -22.9% |
| Current assets | 29/58 | €15,654 | €26,732 | +€11,077 | +70.8% |
| Amounts receivable within one year | 40/41 | €6,293 | €18,876 | +€12,582 | +199.9% |
| Trade receivables | 40 | €6,293 | €18,876 | +€12,582 | +199.9% |
| Cash at bank and in hand | 54/58 | €8,712 | €7,393 | -€1,319 | -15.1% |
| Deferred charges and accrued income | 490/1 | €649 | €463 | -€186 | -28.7% |
| Total equity and liabilities | 10/49 | €25,737 | €34,502 | +€8,766 | +34.1% |
| Equity | 10/15 | €9,686 | €14,066 | +€4,380 | +45.2% |
| Contributions | 10/11 | €400 | €400 | = | 0.0% |
| Reserves | 13 | €3,000 | €3,000 | = | 0.0% |
| Distributable reserves | 133 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,286 | €10,666 | +€4,380 | +69.7% |
| Amounts payable | 17/49 | €16,051 | €20,437 | +€4,386 | +27.3% |
| Amounts payable within one year | 42/48 | €16,051 | €20,437 | +€4,386 | +27.3% |
| Trade debts | 44 | €1,334 | €834 | -€500 | -37.5% |
| Suppliers | 440/4 | €1,334 | €834 | -€500 | -37.5% |
| Taxes, remuneration and social security | 45 | €4,087 | €5,476 | +€1,388 | +34.0% |
| Taxes | 450/3 | €2,587 | €5,476 | +€2,888 | +111.6% |
| Remuneration and social security | 454/9 | €1,500 | - | -€1,500 | |
| Other amounts payable | 47/48 | €10,629 | €14,127 | +€3,498 | +32.9% |
| Turnover | 70 | €59,522 | €68,731 | +€9,210 | +15.5% |
| Goods, raw materials, services and sundry goods | 60/61 | €44,778 | €46,877 | +€2,099 | +4.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,819 | €4,780 | +€961 | +25.2% |
| Other operating charges | 640/8 | €1,026 | €582 | -€444 | -43.2% |
| Non-recurring operating charges | 66A | - | €799 | +€799 | |
| Gross operating margin | 9900 | €14,744 | €21,854 | +€7,111 | +48.2% |
| Operating profit (loss) | 9901 | €9,899 | €15,693 | +€5,795 | +58.5% |
| Financial income | 75/76B | - | €18 | +€18 | |
| Recurring financial income | 75 | - | €18 | +€18 | |
| Financial charges | 65/66B | €79 | €83 | +€5 | +5.9% |
| Recurring financial charges | 65 | €79 | €83 | +€5 | +5.9% |
| Profit (loss) for the period before taxes | 9903 | €9,820 | €15,628 | +€5,808 | +59.1% |
| Income taxes | 67/77 | €2,922 | €4,248 | +€1,326 | +45.4% |
| Profit (loss) for the period | 9904 | €6,898 | €11,380 | +€4,482 | +65.0% |
| Profit (loss) for the period to be appropriated | 9905 | €6,898 | €11,380 | +€4,482 | +65.0% |
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 10 October 2026 via checked.be.