MARAM: 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.
MARAM
Largest movements
- Receivables within one year -€6,136
down €6,136 (-9.4%), from €65,330 to €59,194
of which Trade receivables: -€33,255
- Trade debts -€4,408
down €4,408 (-15.9%), from €27,731 to €23,323
- Debts after one year -€3,135
down €3,135 (-3.8%), from €82,000 to €78,865
- Gross operating margin -€883
down €883 (-14.8%), from €5,966 to €5,083
- Taxes +€384
up €384 (+32.4%), from €1,186 to €1,570
- Financial charges +€97
up €97 (+3.8%), from €2,568 to €2,664
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 | €196,545 | €189,208 | -€7,337 | -3.7% |
| Fixed assets | 21/28 | €80,000 | €80,000 | = | 0.0% |
| Financial fixed assets | 28 | €80,000 | €80,000 | = | 0.0% |
| Current assets | 29/58 | €116,545 | €109,208 | -€7,337 | -6.3% |
| Amounts receivable after more than one year | 29 | €50,000 | €50,000 | = | 0.0% |
| Other amounts receivable | 291 | €50,000 | €50,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €65,330 | €59,194 | -€6,136 | -9.4% |
| Trade receivables | 40 | €41,255 | €8,000 | -€33,255 | -80.6% |
| Other amounts receivable | 41 | €24,075 | €51,194 | +€27,119 | +112.6% |
| Cash at bank and in hand | 54/58 | €1,215 | €14 | -€1,200 | -98.8% |
| Total equity and liabilities | 10/49 | €196,545 | €189,208 | -€7,337 | -3.7% |
| Equity | 10/15 | €67,270 | €67,991 | +€721 | +1.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €61,070 | €61,791 | +€721 | +1.2% |
| Tax-exempt reserves | 132 | €28,286 | €28,286 | = | 0.0% |
| Distributable reserves | 133 | €32,784 | €33,505 | +€721 | +2.2% |
| Provisions and deferred taxes | 16 | €7,072 | €7,072 | = | 0.0% |
| Deferred taxes | 168 | €7,072 | €7,072 | = | 0.0% |
| Amounts payable | 17/49 | €122,203 | €114,146 | -€8,057 | -6.6% |
| Amounts payable after more than one year | 17 | €82,000 | €78,865 | -€3,135 | -3.8% |
| Other amounts payable | 178/9 | €82,000 | €78,865 | -€3,135 | -3.8% |
| Amounts payable within one year | 42/48 | €40,203 | €35,281 | -€4,922 | -12.2% |
| Trade debts | 44 | €27,731 | €23,323 | -€4,408 | -15.9% |
| Suppliers | 440/4 | €27,731 | €23,323 | -€4,408 | -15.9% |
| Taxes, remuneration and social security | 45 | €12,472 | €11,958 | -€514 | -4.1% |
| Taxes | 450/3 | €12,472 | €11,958 | -€514 | -4.1% |
| Other operating charges | 640/8 | €126 | €128 | +€2 | +1.6% |
| Gross operating margin | 9900 | €5,966 | €5,083 | -€883 | -14.8% |
| Operating profit (loss) | 9901 | €5,840 | €4,955 | -€885 | -15.2% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €2,568 | €2,664 | +€97 | +3.8% |
| Recurring financial charges | 65 | €2,568 | €2,664 | +€97 | +3.8% |
| Profit (loss) for the period before taxes | 9903 | €3,273 | €2,291 | -€982 | -30.0% |
| Income taxes | 67/77 | €1,186 | €1,570 | +€384 | +32.4% |
| Profit (loss) for the period | 9904 | €2,087 | €721 | -€1,366 | -65.5% |
| Profit (loss) for the period to be appropriated | 9905 | €2,087 | €721 | -€1,366 | -65.5% |
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 9 October 2026 via checked.be.