MARDI CONSULT: 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.
MARDI CONSULT
Largest movements
- Current investments -€400,000
no longer reported in 2025 (was €400,000)
- Cash +€296,811
up €296,811 (+24.9%), from €1.2m to €1.5m
mainly Net result for the year (+€534,833) and Current investments (+€400,000)
- Receivables within one year -€197,243
down €197,243 (-48.9%), from €403,447 to €206,204
of which Other amounts receivable: -€305,521
- Tangible fixed assets -€129,062
down €129,062 (-3.9%), from €3.3m to €3.1m
of which Land and buildings: -€78,916
- Reserves -€434,218
down €434,218 (-10.4%), from €4.2m to €3.7m
- Financial income +€40,913
up €40,913 (+81.4%), from €50,274 to €91,187
- Gross operating margin -€28,314
down €28,314 (-3.3%), from €862,529 to €834,215
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 | €5,270,675 | €4,837,803 | -€432,872 | -8.2% |
| Fixed assets | 21/28 | €3,269,890 | €3,140,828 | -€129,062 | -3.9% |
| Tangible fixed assets | 22/27 | €3,269,780 | €3,140,718 | -€129,062 | -3.9% |
| Land and buildings | 22 | €2,656,116 | €2,577,200 | -€78,916 | -3.0% |
| Plant, machinery and equipment | 23 | €35,532 | €28,599 | -€6,933 | -19.5% |
| Furniture and vehicles | 24 | €55,203 | €42,418 | -€12,785 | -23.2% |
| Other tangible fixed assets | 26 | €522,929 | €492,501 | -€30,428 | -5.8% |
| Financial fixed assets | 28 | €110 | €110 | = | 0.0% |
| Current assets | 29/58 | €2,000,785 | €1,696,975 | -€303,810 | -15.2% |
| Amounts receivable within one year | 40/41 | €403,447 | €206,204 | -€197,243 | -48.9% |
| Trade receivables | 40 | €89,596 | €197,874 | +€108,278 | +121% |
| Other amounts receivable | 41 | €313,851 | €8,330 | -€305,521 | -97.3% |
| Current investments | 50/53 | €400,000 | - | -€400,000 | |
| Cash at bank and in hand | 54/58 | €1,192,871 | €1,489,682 | +€296,811 | +24.9% |
| Deferred charges and accrued income | 490/1 | €4,467 | €1,089 | -€3,378 | -75.6% |
| Total equity and liabilities | 10/49 | €5,270,675 | €4,837,803 | -€432,872 | -8.2% |
| Equity | 10/15 | €4,221,263 | €3,787,045 | -€434,218 | -10.3% |
| Reserves | 13 | €4,172,599 | €3,738,381 | -€434,218 | -10.4% |
| Distributable reserves | 133 | €4,172,599 | €3,738,381 | -€434,218 | -10.4% |
| Profit (loss) carried forward | 14 | €48,664 | €48,664 | = | 0.0% |
| Amounts payable | 17/49 | €1,049,412 | €1,050,758 | +€1,346 | +0.1% |
| Amounts payable within one year | 42/48 | €1,049,412 | €1,050,758 | +€1,346 | +0.1% |
| Trade debts | 44 | €25,555 | €34,831 | +€9,276 | +36.3% |
| Suppliers | 440/4 | €25,555 | €34,831 | +€9,276 | +36.3% |
| Taxes, remuneration and social security | 45 | €109,131 | €109,440 | +€309 | +0.3% |
| Taxes | 450/3 | €109,131 | €106,645 | -€2,486 | -2.3% |
| Remuneration and social security | 454/9 | - | €2,795 | +€2,795 | |
| Other amounts payable | 47/48 | €914,726 | €906,487 | -€8,239 | -0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €126,073 | €129,062 | +€2,989 | +2.4% |
| Other operating charges | 640/8 | €11,920 | €10,563 | -€1,357 | -11.4% |
| Gross operating margin | 9900 | €862,529 | €834,215 | -€28,314 | -3.3% |
| Operating profit (loss) | 9901 | €724,536 | €694,590 | -€29,946 | -4.1% |
| Financial income | 75/76B | €50,274 | €91,187 | +€40,913 | +81.4% |
| Recurring financial income | 75 | €50,274 | €91,187 | +€40,913 | +81.4% |
| Financial charges | 65/66B | €380 | €257 | -€123 | -32.4% |
| Recurring financial charges | 65 | €380 | €257 | -€123 | -32.4% |
| Profit (loss) for the period before taxes | 9903 | €774,430 | €785,520 | +€11,090 | +1.4% |
| Income taxes | 67/77 | €246,055 | €250,687 | +€4,632 | +1.9% |
| Profit (loss) for the period | 9904 | €528,375 | €534,833 | +€6,458 | +1.2% |
| Profit (loss) for the period to be appropriated | 9905 | €528,375 | €534,833 | +€6,458 | +1.2% |
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 31 October 2026 via checked.be.