Mara Bekaert: 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 Bekaert
Largest movements
- Cash -€130,814
down €130,814 (-79.9%), from €163,788 to €32,974
mainly Contributions, distributions and other (-€312,468) and Receivables within one year (-€8,323)
- Receivables within one year +€8,323
up €8,323 (+6.7%), from €124,887 to €133,209
of which Trade receivables: +€8,285
- Tangible fixed assets +€5,958
up €5,958 (+129%), from €4,630 to €10,588
of which Furniture and vehicles: +€8,791
- Receivables after one year -€3,000
no longer reported in 2025 (was €3,000)
- Reserves -€182,601
no longer reported in 2025 (was €182,601)
- Other debts +€65,775
up €65,775 (+85.4%), from €76,981 to €142,756
- Tax, wage and social debts -€7,359
down €7,359 (-22.0%), from €33,421 to €26,062
- Accrued charges and deferred income +€5,079
up €5,079 (+147%), from €3,452 to €8,531
- Gross operating margin +€35,711
up €35,711 (+24.3%), from €146,846 to €182,557
- Taxes +€13,161
up €13,161 (+39.8%), from €33,071 to €46,232
- Financial charges +€3,934
up €3,934 (+4,170%), from €94 to €4,029
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 | €297,782 | €178,369 | -€119,413 | -40.1% |
| Fixed assets | 21/28 | €4,630 | €10,588 | +€5,958 | +129% |
| Tangible fixed assets | 22/27 | €4,630 | €10,588 | +€5,958 | +129% |
| Furniture and vehicles | 24 | €1,797 | €10,588 | +€8,791 | +489% |
| Other tangible fixed assets | 26 | €2,833 | - | -€2,833 | |
| Current assets | 29/58 | €293,152 | €167,781 | -€125,371 | -42.8% |
| Amounts receivable after more than one year | 29 | €3,000 | - | -€3,000 | |
| Other amounts receivable | 291 | €3,000 | - | -€3,000 | |
| Amounts receivable within one year | 40/41 | €124,887 | €133,209 | +€8,323 | +6.7% |
| Trade receivables | 40 | €124,887 | €133,171 | +€8,285 | +6.6% |
| Other amounts receivable | 41 | - | €38 | +€38 | |
| Cash at bank and in hand | 54/58 | €163,788 | €32,974 | -€130,814 | -79.9% |
| Deferred charges and accrued income | 490/1 | €1,477 | €1,597 | +€120 | +8.1% |
| Total equity and liabilities | 10/49 | €297,782 | €178,369 | -€119,413 | -40.1% |
| Equity | 10/15 | €183,601 | €1,000 | -€182,601 | -99.5% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €182,601 | - | -€182,601 | |
| Distributable reserves | 133 | €182,601 | - | -€182,601 | |
| Amounts payable | 17/49 | €114,180 | €177,369 | +€63,188 | +55.3% |
| Amounts payable within one year | 42/48 | €110,728 | €168,837 | +€58,109 | +52.5% |
| Trade debts | 44 | €326 | €19 | -€307 | -94.1% |
| Suppliers | 440/4 | €326 | €19 | -€307 | -94.1% |
| Taxes, remuneration and social security | 45 | €33,421 | €26,062 | -€7,359 | -22.0% |
| Taxes | 450/3 | €33,421 | €26,062 | -€7,359 | -22.0% |
| Other amounts payable | 47/48 | €76,981 | €142,756 | +€65,775 | +85.4% |
| Accrued charges and deferred income | 492/3 | €3,452 | €8,531 | +€5,079 | +147% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,852 | €1,973 | -€879 | -30.8% |
| Other operating charges | 640/8 | €673 | €457 | -€216 | -32.1% |
| Gross operating margin | 9900 | €146,846 | €182,557 | +€35,711 | +24.3% |
| Operating profit (loss) | 9901 | €143,321 | €180,127 | +€36,806 | +25.7% |
| Financial income | 75/76B | €0 | €0 | = | 0.0% |
| Recurring financial income | 75 | €0 | €0 | = | 0.0% |
| Financial charges | 65/66B | €94 | €4,029 | +€3,934 | +4,170% |
| Recurring financial charges | 65 | €94 | €4,029 | +€3,934 | +4,170% |
| Profit (loss) for the period before taxes | 9903 | €143,227 | €176,099 | +€32,872 | +23.0% |
| Income taxes | 67/77 | €33,071 | €46,232 | +€13,161 | +39.8% |
| Profit (loss) for the period | 9904 | €110,156 | €129,867 | +€19,711 | +17.9% |
| Profit (loss) for the period to be appropriated | 9905 | €110,156 | €129,867 | +€19,711 | +17.9% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.