MARDIS: 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.
MARDIS
Largest movements
- Cash -€28,992
down €28,992 (-84.9%), from €34,158 to €5,166
mainly Contributions, distributions and other (-€34,944) and Debts after one year (-€16,600)
- Tangible fixed assets -€15,077
down €15,077 (-16.6%), from €90,618 to €75,541
of which Furniture and vehicles: -€9,297
- Reserves -€21,325
down €21,325 (-61.0%), from €34,944 to €13,619
- Debts after one year -€16,600
down €16,600 (-62.4%), from €26,610 to €10,010
- Other debts -€5,168
down €5,168 (-8.7%), from €59,301 to €54,133
- Gross operating margin +€10,284
up €10,284 (+27.6%), from €37,316 to €47,600
- Taxes +€3,801
up €3,801 (+90.3%), from €4,210 to €8,011
- Depreciation +€1,571
up €1,571 (+7.3%), from €21,651 to €23,222
- Financial charges -€520
down €520 (-23.9%), from €2,174 to €1,654
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 | €143,136 | €99,150 | -€43,985 | -30.7% |
| Fixed assets | 21/28 | €90,618 | €75,541 | -€15,077 | -16.6% |
| Tangible fixed assets | 22/27 | €90,618 | €75,541 | -€15,077 | -16.6% |
| Plant, machinery and equipment | 23 | €4,073 | €4,032 | -€42 | -1.0% |
| Furniture and vehicles | 24 | €52,273 | €42,977 | -€9,297 | -17.8% |
| Other tangible fixed assets | 26 | €34,272 | €28,532 | -€5,739 | -16.7% |
| Current assets | 29/58 | €52,517 | €23,609 | -€28,908 | -55.0% |
| Amounts receivable within one year | 40/41 | €18,323 | €18,362 | +€39 | +0.2% |
| Trade receivables | 40 | €17,533 | €13,582 | -€3,951 | -22.5% |
| Other amounts receivable | 41 | €790 | €4,780 | +€3,989 | +504.9% |
| Cash at bank and in hand | 54/58 | €34,158 | €5,166 | -€28,992 | -84.9% |
| Deferred charges and accrued income | 490/1 | €37 | €82 | +€45 | +124.0% |
| Total equity and liabilities | 10/49 | €143,136 | €99,150 | -€43,985 | -30.7% |
| Equity | 10/15 | €35,944 | €14,619 | -€21,325 | -59.3% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €34,944 | €13,619 | -€21,325 | -61.0% |
| Distributable reserves | 133 | €34,944 | €13,619 | -€21,325 | -61.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €107,192 | €84,531 | -€22,660 | -21.1% |
| Amounts payable after more than one year | 17 | €26,610 | €10,010 | -€16,600 | -62.4% |
| Financial debts | 170/4 | €26,610 | €10,010 | -€16,600 | -62.4% |
| Amounts payable within one year | 42/48 | €80,582 | €74,522 | -€6,060 | -7.5% |
| Current portion of amounts payable after more than one year | 42 | €15,918 | €16,600 | +€682 | +4.3% |
| Trade debts | 44 | €2,725 | €1,299 | -€1,426 | -52.3% |
| Suppliers | 440/4 | €2,725 | €1,299 | -€1,426 | -52.3% |
| Taxes, remuneration and social security | 45 | €2,636 | €2,489 | -€147 | -5.6% |
| Taxes | 450/3 | €2,636 | €2,489 | -€147 | -5.6% |
| Other amounts payable | 47/48 | €59,301 | €54,133 | -€5,168 | -8.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,651 | €23,222 | +€1,571 | +7.3% |
| Other operating charges | 640/8 | €914 | €1,095 | +€181 | +19.8% |
| Gross operating margin | 9900 | €37,316 | €47,600 | +€10,284 | +27.6% |
| Operating profit (loss) | 9901 | €14,751 | €23,283 | +€8,532 | +57.8% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €2,174 | €1,654 | -€520 | -23.9% |
| Recurring financial charges | 65 | €2,174 | €1,654 | -€520 | -23.9% |
| Profit (loss) for the period before taxes | 9903 | €12,577 | €21,629 | +€9,052 | +72.0% |
| Income taxes | 67/77 | €4,210 | €8,011 | +€3,801 | +90.3% |
| Profit (loss) for the period | 9904 | €8,367 | €13,619 | +€5,251 | +62.8% |
| Profit (loss) for the period to be appropriated | 9905 | €8,367 | €13,619 | +€5,251 | +62.8% |
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.