MARDIMMO: what changed
Two fiscal 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.
What changed
MARDIMMO
NACE 68.110, Buying and selling of own real estate
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€353,712
2024 · -€103,712+€457,423
Equity
€3.2m
2024 · €2.9m+€353,712
Cash
€77,115
2024 · €29,100+€48,015
Balance sheet total
€15.7m
2024 · €16.7m-€1.1m
Largest movements
Assets
- Tangible fixed assets -€1.4m
down €1.4m (-9.4%), from €15.0m to €13.6m
- Receivables within one year +€320,897
up €320,897 (+20.4%), from €1.6m to €1.9m
of which Other amounts receivable: +€258,146
Equity and liabilities
- Debts after one year -€531,075
down €531,075 (-6.5%), from €8.2m to €7.7m
of which Financial debts: -€526,836
- Trade debts -€478,724
down €478,724 (-71.6%), from €668,641 to €189,917
- Other debts -€454,724
down €454,724 (-23.7%), from €1.9m to €1.5m
- Profit (loss) carried forward +€410,621
up €410,621, from -€309,362 to €101,259
Income statement
- Gross operating margin +€644,311
up €644,311 (+76.5%), from €842,731 to €1.5m
- Financial charges +€85,136
up €85,136 (+26.3%), from €323,327 to €408,463
- Other operating charges +€52,058
up €52,058 (+41.5%), from €125,317 to €177,375
- Taxes +€37,132
new in 2025: €37,132
- Depreciation +€24,772
up €24,772 (+4.9%), from €505,439 to €530,210
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.
Result 2024
-€103,712
Gross operating margin
+€644,311
Depreciation
-€24,772
Other operating charges
-€52,058
Financial income
+€753
Financial charges
-€85,136
Taxes
-€37,132
Deferred taxes and other
+€11,457
Result 2025
€353,712
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.
From operations
-€309,187
Investment
+€879,596
Financing
-€522,395
Cash 2024
€29,100
From operations (derived)
-€309,187
Net result for the year
+€353,712
Depreciation
+€530,210
Receivables after one year
+€13,000
Receivables within one year
-€320,897
Provisions
-€18,970
Trade debts
-€478,724
Tax, wage and social debts
+€67,206
Other debts
-€454,724
Investment (derived)
+€879,596
Investment in fixed assets (net)
+€879,596
Financing
-€522,395
Debts after one year
-€531,075
Current portion of long-term debt
+€8,680
Cash 2025
€77,115
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €16,732,838 | €15,678,943 | -€1.1m | -6.3% |
| Fixed assets | 21/28 | €15,035,322 | €13,625,515 | -€1.4m | -9.4% |
| Tangible fixed assets | 22/27 | €15,035,322 | €13,625,515 | -€1.4m | -9.4% |
| Land and buildings | 22 | €15,035,322 | €13,625,515 | -€1.4m | -9.4% |
| Current assets | 29/58 | €1,697,517 | €2,053,428 | +€355,912 | +21.0% |
| Amounts receivable after more than one year | 29 | €13,000 | - | -€13,000 | |
| Other amounts receivable | 291 | €13,000 | - | -€13,000 | |
| Stocks and contracts in progress | 3 | €80,000 | €80,000 | = | 0.0% |
| Stocks | 30/36 | €80,000 | €80,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1,575,417 | €1,896,314 | +€320,897 | +20.4% |
| Trade receivables | 40 | €37,207 | €99,958 | +€62,751 | +168.7% |
| Other amounts receivable | 41 | €1,538,210 | €1,796,356 | +€258,146 | +16.8% |
| Cash at bank and in hand | 54/58 | €29,100 | €77,115 | +€48,015 | +165.0% |
| Total equity and liabilities | 10/49 | €16,732,838 | €15,678,943 | -€1.1m | -6.3% |
| Equity | 10/15 | €2,869,876 | €3,223,588 | +€353,712 | +12.3% |
| Contributions | 10/11 | €632,128 | €632,128 | = | 0.0% |
| Capital | 10 | €632,128 | €632,128 | = | 0.0% |
| Issued capital | 100 | €632,128 | €632,128 | = | 0.0% |
| Reserves | 13 | €2,547,109 | €2,490,200 | -€56,909 | -2.2% |
| Non-distributable reserves | 130/1 | €63,213 | €63,213 | = | 0.0% |
| Legal reserve | 130 | €63,213 | €63,213 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,676,068 | €1,619,159 | -€56,909 | -3.4% |
| Distributable reserves | 133 | €807,828 | €807,828 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€309,362 | €101,259 | +€410,621 | |
| Provisions and deferred taxes | 16 | €558,689 | €539,720 | -€18,970 | -3.4% |
| Deferred taxes | 168 | €558,689 | €539,720 | -€18,970 | -3.4% |
| Amounts payable | 17/49 | €13,304,273 | €11,915,636 | -€1.4m | -10.4% |
| Amounts payable after more than one year | 17 | €8,199,036 | €7,667,960 | -€531,075 | -6.5% |
| Financial debts | 170/4 | €8,191,046 | €7,664,210 | -€526,836 | -6.4% |
| Other amounts payable | 178/9 | €7,989 | €3,750 | -€4,239 | -53.1% |
| Amounts payable within one year | 42/48 | €5,105,238 | €4,247,676 | -€857,562 | -16.8% |
| Current portion of amounts payable after more than one year | 42 | €2,018,156 | €2,026,836 | +€8,680 | +0.4% |
| Financial debts | 43 | €500,000 | €500,000 | = | 0.0% |
| Credit institutions | 430/8 | €500,000 | €500,000 | = | 0.0% |
| Trade debts | 44 | €668,641 | €189,917 | -€478,724 | -71.6% |
| Suppliers | 440/4 | €668,641 | €189,917 | -€478,724 | -71.6% |
| Taxes, remuneration and social security | 45 | - | €67,206 | +€67,206 | |
| Taxes | 450/3 | - | €67,206 | +€67,206 | |
| Other amounts payable | 47/48 | €1,918,441 | €1,463,718 | -€454,724 | -23.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €505,439 | €530,210 | +€24,772 | +4.9% |
| Other operating charges | 640/8 | €125,317 | €177,375 | +€52,058 | +41.5% |
| Gross operating margin | 9900 | €842,731 | €1,487,043 | +€644,311 | +76.5% |
| Operating profit (loss) | 9901 | €211,976 | €779,458 | +€567,482 | +267.7% |
| Financial income | 75/76B | €126 | €879 | +€753 | +596.6% |
| Recurring financial income | 75 | €126 | €879 | +€753 | +596.6% |
| Financial charges | 65/66B | €323,327 | €408,463 | +€85,136 | +26.3% |
| Recurring financial charges | 65 | €323,327 | €408,463 | +€85,136 | +26.3% |
| Profit (loss) for the period before taxes | 9903 | -€111,224 | €371,874 | +€483,098 | |
| Transfer from deferred taxes | 780 | €7,513 | €18,970 | +€11,457 | +152.5% |
| Income taxes | 67/77 | - | €37,132 | +€37,132 | |
| Profit (loss) for the period | 9904 | -€103,712 | €353,712 | +€457,423 | |
| Transfer from tax-exempt reserves | 789 | €22,538 | €56,909 | +€34,371 | +152.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€81,174 | €410,621 | +€491,795 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.