Mare Construct: 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 Construct
Largest movements
- Receivables after one year -€140,714
down €140,714 (-50.7%), from €277,327 to €136,613
- Cash -€51,017
down €51,017 (-75.1%), from €67,895 to €16,878
mainly Debts after one year (-€155,094) and Tax, wage and social debts (-€19,806)
- Debts after one year -€155,094
down €155,094 (-59.2%), from €262,128 to €107,035
- Tax, wage and social debts -€19,806
no longer reported in 2025 (was €19,806)
- Profit (loss) carried forward -€17,661
new in 2025: -€17,661
- Gross operating margin -€126,200
down €126,200, from €108,729 to -€17,471
- Taxes -€19,806
no longer reported in 2025 (was €19,806)
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 | €346,051 | €153,491 | -€192,561 | -55.6% |
| Current assets | 29/58 | €346,051 | €153,491 | -€192,561 | -55.6% |
| Amounts receivable after more than one year | 29 | €277,327 | €136,613 | -€140,714 | -50.7% |
| Other amounts receivable | 291 | €277,327 | €136,613 | -€140,714 | -50.7% |
| Amounts receivable within one year | 40/41 | €830 | - | -€830 | |
| Other amounts receivable | 41 | €830 | - | -€830 | |
| Cash at bank and in hand | 54/58 | €67,895 | €16,878 | -€51,017 | -75.1% |
| Total equity and liabilities | 10/49 | €346,051 | €153,491 | -€192,561 | -55.6% |
| Equity | 10/15 | €64,117 | €46,456 | -€17,661 | -27.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €59,117 | €59,117 | = | 0.0% |
| Distributable reserves | 133 | €59,117 | €59,117 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€17,661 | -€17,661 | |
| Amounts payable | 17/49 | €281,934 | €107,035 | -€174,899 | -62.0% |
| Amounts payable after more than one year | 17 | €262,128 | €107,035 | -€155,094 | -59.2% |
| Other amounts payable | 178/9 | €262,128 | €107,035 | -€155,094 | -59.2% |
| Amounts payable within one year | 42/48 | €19,806 | - | -€19,806 | |
| Taxes, remuneration and social security | 45 | €19,806 | - | -€19,806 | |
| Taxes | 450/3 | €19,806 | - | -€19,806 | |
| Other operating charges | 640/8 | €115 | €126 | +€11 | +9.6% |
| Gross operating margin | 9900 | €108,729 | -€17,471 | -€126,200 | |
| Operating profit (loss) | 9901 | €108,614 | -€17,597 | -€126,211 | |
| Financial charges | 65/66B | €122 | €64 | -€57 | -47.1% |
| Recurring financial charges | 65 | €122 | €64 | -€57 | -47.1% |
| Profit (loss) for the period before taxes | 9903 | €108,492 | -€17,661 | -€126,154 | |
| Income taxes | 67/77 | €19,806 | - | -€19,806 | |
| Profit (loss) for the period | 9904 | €88,687 | -€17,661 | -€106,348 | |
| Profit (loss) for the period to be appropriated | 9905 | €88,687 | -€17,661 | -€106,348 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.