Mardenti: 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.
Mardenti
Largest movements
- Current investments +€63,854
new in 2025: €63,854
- Cash +€12,403
up €12,403 (+15.8%), from €78,522 to €90,924
mainly Net result for the year (+€71,530) and Receivables within one year (+€3,367)
- Receivables within one year -€3,367
down €3,367 (-25.9%), from €13,003 to €9,636
- Deferred charges and accrued income -€3,051
down €3,051 (-19.3%), from €15,794 to €12,742
- Reserves +€71,530
up €71,530 (+99.0%), from €72,237 to €143,768
- Financial income +€5,062
up €5,062 (+12235.1%), from €41 to €5,103
- Financial charges +€4,657
up €4,657 (+228.6%), from €2,037 to €6,694
- Gross operating margin -€2,897
down €2,897 (-3.0%), from €96,873 to €93,976
- Depreciation -€1,762
down €1,762 (-53.0%), from €3,324 to €1,563
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 | €109,946 | €179,456 | +€69,509 | +63.2% |
| Fixed assets | 21/28 | €2,628 | €2,299 | -€329 | -12.5% |
| Tangible fixed assets | 22/27 | €2,628 | €2,299 | -€329 | -12.5% |
| Plant, machinery and equipment | 23 | €1,239 | €639 | -€600 | -48.4% |
| Furniture and vehicles | 24 | €1,388 | €1,660 | +€271 | +19.5% |
| Current assets | 29/58 | €107,319 | €177,157 | +€69,838 | +65.1% |
| Amounts receivable within one year | 40/41 | €13,003 | €9,636 | -€3,367 | -25.9% |
| Trade receivables | 40 | €13,003 | €9,636 | -€3,367 | -25.9% |
| Current investments | 50/53 | - | €63,854 | +€63,854 | |
| Cash at bank and in hand | 54/58 | €78,522 | €90,924 | +€12,403 | +15.8% |
| Deferred charges and accrued income | 490/1 | €15,794 | €12,742 | -€3,051 | -19.3% |
| Total equity and liabilities | 10/49 | €109,946 | €179,456 | +€69,509 | +63.2% |
| Equity | 10/15 | €75,237 | €146,768 | +€71,530 | +95.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €72,237 | €143,768 | +€71,530 | +99.0% |
| Distributable reserves | 133 | €72,237 | €143,768 | +€71,530 | +99.0% |
| Amounts payable | 17/49 | €34,709 | €32,688 | -€2,021 | -5.8% |
| Amounts payable within one year | 42/48 | €34,473 | €31,885 | -€2,589 | -7.5% |
| Financial debts | 43 | €2 | €14 | +€12 | +602.5% |
| Credit institutions | 430/8 | €2 | €14 | +€12 | +602.5% |
| Trade debts | 44 | €7,900 | €6,312 | -€1,588 | -20.1% |
| Suppliers | 440/4 | €7,900 | €6,312 | -€1,588 | -20.1% |
| Taxes, remuneration and social security | 45 | €18,860 | €17,448 | -€1,412 | -7.5% |
| Taxes | 450/3 | €18,860 | €17,448 | -€1,412 | -7.5% |
| Other amounts payable | 47/48 | €7,711 | €8,111 | +€400 | +5.2% |
| Accrued charges and deferred income | 492/3 | €236 | €803 | +€568 | +240.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,324 | €1,563 | -€1,762 | -53.0% |
| Other operating charges | 640/8 | €455 | €219 | -€237 | -51.9% |
| Non-recurring operating charges | 66A | - | €160 | +€160 | |
| Gross operating margin | 9900 | €96,873 | €93,976 | -€2,897 | -3.0% |
| Operating profit (loss) | 9901 | €93,093 | €92,034 | -€1,059 | -1.1% |
| Financial income | 75/76B | €41 | €5,103 | +€5,062 | +12235.1% |
| Recurring financial income | 75 | €41 | €5,103 | +€5,062 | +12235.1% |
| Financial charges | 65/66B | €2,037 | €6,694 | +€4,657 | +228.6% |
| Recurring financial charges | 65 | €2,037 | €6,694 | +€4,657 | +228.6% |
| Profit (loss) for the period before taxes | 9903 | €91,097 | €90,443 | -€654 | -0.7% |
| Income taxes | 67/77 | €18,860 | €18,913 | +€53 | +0.3% |
| Profit (loss) for the period | 9904 | €72,237 | €71,530 | -€707 | -1.0% |
| Profit (loss) for the period to be appropriated | 9905 | €72,237 | €71,530 | -€707 | -1.0% |
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 9 October 2026 via checked.be.