MARE COMPANY: 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.
MARE COMPANY
Largest movements
- Cash +€1.4m
up €1.4m (+18,371%), from €7,722 to €1.4m
mainly Receivables within one year (+€957,000) and Current investments (+€400,000)
- Receivables within one year -€957,000
down €957,000 (-76.2%), from €1.3m to €299,477
- Current investments -€400,000
down €400,000 (-43.9%), from €912,132 to €512,132
- Tangible fixed assets -€117,356
down €117,356 (-5.3%), from €2.2m to €2.1m
- Debts after one year -€99,996
down €99,996 (-26.1%), from €383,378 to €283,382
- Financial income -€42,679
down €42,679 (-55.2%), from €77,353 to €34,673
- Financial charges -€8,294
down €8,294 (-37.7%), from €21,981 to €13,687
- Taxes +€2,121
up €2,121 (+10.9%), from €19,494 to €21,615
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 | €4,452,609 | €4,392,871 | -€59,738 | -1.3% |
| Fixed assets | 21/28 | €2,256,278 | €2,138,922 | -€117,356 | -5.2% |
| Tangible fixed assets | 22/27 | €2,222,478 | €2,105,122 | -€117,356 | -5.3% |
| Land and buildings | 22 | €2,222,478 | €2,105,122 | -€117,356 | -5.3% |
| Financial fixed assets | 28 | €33,800 | €33,800 | = | 0.0% |
| Current assets | 29/58 | €2,196,331 | €2,253,948 | +€57,618 | +2.6% |
| Stocks and contracts in progress | 3 | €20,000 | - | -€20,000 | |
| Stocks | 30/36 | €20,000 | - | -€20,000 | |
| Amounts receivable within one year | 40/41 | €1,256,477 | €299,477 | -€957,000 | -76.2% |
| Other amounts receivable | 41 | €1,256,477 | €299,477 | -€957,000 | -76.2% |
| Current investments | 50/53 | €912,132 | €512,132 | -€400,000 | -43.9% |
| Cash at bank and in hand | 54/58 | €7,722 | €1,426,340 | +€1.4m | +18,371% |
| Deferred charges and accrued income | 490/1 | - | €16,000 | +€16,000 | |
| Total equity and liabilities | 10/49 | €4,452,609 | €4,392,871 | -€59,738 | -1.3% |
| Equity | 10/15 | €3,957,947 | €3,999,811 | +€41,865 | +1.1% |
| Contributions | 10/11 | €1,608,000 | €1,608,000 | = | 0.0% |
| Capital | 10 | €1,608,000 | €1,608,000 | = | 0.0% |
| Issued capital | 100 | €1,608,000 | €1,608,000 | = | 0.0% |
| Reserves | 13 | €2,349,947 | €2,391,811 | +€41,865 | +1.8% |
| Non-distributable reserves | 130/1 | €160,800 | €160,800 | = | 0.0% |
| Legal reserve | 130 | €160,800 | €160,800 | = | 0.0% |
| Distributable reserves | 133 | €2,189,147 | €2,231,011 | +€41,865 | +1.9% |
| Amounts payable | 17/49 | €494,662 | €393,059 | -€101,603 | -20.5% |
| Amounts payable after more than one year | 17 | €383,378 | €283,382 | -€99,996 | -26.1% |
| Financial debts | 170/4 | €383,378 | €283,382 | -€99,996 | -26.1% |
| Amounts payable within one year | 42/48 | €111,284 | €109,677 | -€1,607 | -1.4% |
| Current portion of amounts payable after more than one year | 42 | €99,996 | €99,996 | = | 0.0% |
| Trade debts | 44 | - | €4,955 | +€4,955 | |
| Suppliers | 440/4 | - | €4,955 | +€4,955 | |
| Taxes, remuneration and social security | 45 | €11,288 | €4,726 | -€6,562 | -58.1% |
| Taxes | 450/3 | €11,288 | €4,726 | -€6,562 | -58.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €117,356 | €117,356 | = | 0.0% |
| Other operating charges | 640/8 | €25,809 | €26,614 | +€805 | +3.1% |
| Gross operating margin | 9900 | €187,161 | €186,463 | -€697 | -0.4% |
| Operating profit (loss) | 9901 | €43,996 | €42,494 | -€1,502 | -3.4% |
| Financial income | 75/76B | €77,353 | €34,673 | -€42,679 | -55.2% |
| Recurring financial income | 75 | €77,353 | €34,673 | -€42,679 | -55.2% |
| Financial charges | 65/66B | €21,981 | €13,687 | -€8,294 | -37.7% |
| Recurring financial charges | 65 | €21,981 | €13,687 | -€8,294 | -37.7% |
| Profit (loss) for the period before taxes | 9903 | €99,367 | €63,480 | -€35,887 | -36.1% |
| Income taxes | 67/77 | €19,494 | €21,615 | +€2,121 | +10.9% |
| Profit (loss) for the period | 9904 | €79,873 | €41,865 | -€38,008 | -47.6% |
| Profit (loss) for the period to be appropriated | 9905 | €79,873 | €41,865 | -€38,008 | -47.6% |
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 22 October 2026 via checked.be.