MARATECH: 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.
MARATECH
Largest movements
- Receivables within one year -€8,912
down €8,912 (-9.8%), from €90,820 to €81,908
of which Trade receivables: -€7,722
- Tangible fixed assets -€4,534
down €4,534 (-33.3%), from €13,601 to €9,067
- Profit (loss) carried forward -€44,650
down €44,650 (-76.4%), from €58,429 to €13,779
- Trade debts +€43,661
up €43,661 (+1859.6%), from €2,348 to €46,009
- Current portion of long-term debt -€7,466
no longer reported in 2025 (was €7,466)
- Debts after one year -€3,104
down €3,104 (-42.9%), from €7,232 to €4,127
- Short-term financial debts -€2,032
no longer reported in 2025 (was €2,032)
- Gross operating margin -€67,106
down €67,106, from €33,265 to -€33,841
- Depreciation -€2,724
down €2,724 (-37.5%), from €7,257 to €4,534
- Financial charges -€1,377
down €1,377 (-58.0%), from €2,374 to €997
- Taxes -€374
down €374 (-15.9%), from €2,355 to €1,981
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 | €109,827 | €96,236 | -€13,591 | -12.4% |
| Fixed assets | 21/28 | €13,601 | €9,067 | -€4,534 | -33.3% |
| Tangible fixed assets | 22/27 | €13,601 | €9,067 | -€4,534 | -33.3% |
| Furniture and vehicles | 24 | €13,601 | €9,067 | -€4,534 | -33.3% |
| Current assets | 29/58 | €96,226 | €87,169 | -€9,058 | -9.4% |
| Amounts receivable within one year | 40/41 | €90,820 | €81,908 | -€8,912 | -9.8% |
| Trade receivables | 40 | €67,310 | €59,588 | -€7,722 | -11.5% |
| Other amounts receivable | 41 | €23,510 | €22,320 | -€1,190 | -5.1% |
| Cash at bank and in hand | 54/58 | €5,407 | €5,261 | -€145 | -2.7% |
| Total equity and liabilities | 10/49 | €109,827 | €96,236 | -€13,591 | -12.4% |
| Equity | 10/15 | €80,749 | €36,099 | -€44,650 | -55.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €3,720 | €3,720 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €58,429 | €13,779 | -€44,650 | -76.4% |
| Amounts payable | 17/49 | €29,078 | €60,136 | +€31,059 | +106.8% |
| Amounts payable after more than one year | 17 | €7,232 | €4,127 | -€3,104 | -42.9% |
| Financial debts | 170/4 | €7,232 | €4,127 | -€3,104 | -42.9% |
| Amounts payable within one year | 42/48 | €21,846 | €56,009 | +€34,163 | +156.4% |
| Current portion of amounts payable after more than one year | 42 | €7,466 | - | -€7,466 | |
| Financial debts | 43 | €2,032 | - | -€2,032 | |
| Credit institutions | 430/8 | €2,032 | - | -€2,032 | |
| Trade debts | 44 | €2,348 | €46,009 | +€43,661 | +1859.6% |
| Suppliers | 440/4 | €2,348 | €46,009 | +€43,661 | +1859.6% |
| Other amounts payable | 47/48 | €10,000 | €10,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,257 | €4,534 | -€2,724 | -37.5% |
| Other operating charges | 640/8 | €1,014 | €695 | -€319 | -31.5% |
| Non-recurring operating charges | 66A | - | €2,603 | +€2,603 | |
| Gross operating margin | 9900 | €33,265 | -€33,841 | -€67,106 | |
| Operating profit (loss) | 9901 | €24,994 | -€41,673 | -€66,667 | |
| Financial income | 75/76B | €0 | €1 | +€0 | +103.3% |
| Recurring financial income | 75 | €0 | €1 | +€0 | +103.3% |
| Financial charges | 65/66B | €2,374 | €997 | -€1,377 | -58.0% |
| Recurring financial charges | 65 | €2,374 | €997 | -€1,377 | -58.0% |
| Profit (loss) for the period before taxes | 9903 | €22,621 | -€42,669 | -€65,290 | |
| Income taxes | 67/77 | €2,355 | €1,981 | -€374 | -15.9% |
| Profit (loss) for the period | 9904 | €20,266 | -€44,650 | -€64,916 | |
| Profit (loss) for the period to be appropriated | 9905 | €20,266 | -€44,650 | -€64,916 |
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.