MARE FIDEI: 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 FIDEI
Largest movements
- Receivables after one year +€55,000
up €55,000 (+18.2%), from €302,498 to €357,498
- Reserves +€27,446
up €27,446 (+10.6%), from €259,852 to €287,297
of which Distributable reserves: +€27,446
- Trade debts +€26,924
up €26,924 (+118%), from €22,846 to €49,770
- Tax, wage and social debts -€13,392
down €13,392 (-15.3%), from €87,761 to €74,369
- Advances received +€9,983
new in 2024: €9,983
- Gross operating margin -€28,729
down €28,729 (-41.9%), from €68,618 to €39,888
- Other operating charges -€7,316
down €7,316 (-91.4%), from €8,002 to €686
- Taxes -€6,476
down €6,476 (-29.2%), from €22,163 to €15,687
- Depreciation -€1,200
down €1,200 (-32.8%), from €3,657 to €2,457
- Financial income +€783
up €783 (+7.0%), from €11,129 to €11,912
From the 2023 result to the 2024 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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €381,556 | €435,735 | +€54,180 | +14.2% |
| Fixed assets | 21/28 | €10,987 | €8,530 | -€2,457 | -22.4% |
| Tangible fixed assets | 22/27 | €8,687 | €6,230 | -€2,457 | -28.3% |
| Plant, machinery and equipment | 23 | €540 | €184 | -€356 | -65.9% |
| Furniture and vehicles | 24 | €5,096 | €2,995 | -€2,101 | -41.2% |
| Other tangible fixed assets | 26 | €3,051 | €3,051 | = | 0.0% |
| Financial fixed assets | 28 | €2,300 | €2,300 | = | 0.0% |
| Current assets | 29/58 | €370,569 | €427,205 | +€56,636 | +15.3% |
| Amounts receivable after more than one year | 29 | €302,498 | €357,498 | +€55,000 | +18.2% |
| Other amounts receivable | 291 | €302,498 | €357,498 | +€55,000 | +18.2% |
| Amounts receivable within one year | 40/41 | €68,071 | €69,707 | +€1,636 | +2.4% |
| Trade receivables | 40 | €10,966 | €34,523 | +€23,558 | +215% |
| Other amounts receivable | 41 | €57,105 | €35,184 | -€21,922 | -38.4% |
| Total equity and liabilities | 10/49 | €381,556 | €435,735 | +€54,180 | +14.2% |
| Equity | 10/15 | €266,052 | €293,497 | +€27,446 | +10.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €259,852 | €287,297 | +€27,446 | +10.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €257,992 | €285,437 | +€27,446 | +10.6% |
| Amounts payable | 17/49 | €115,504 | €142,238 | +€26,734 | +23.1% |
| Amounts payable within one year | 42/48 | €115,504 | €140,918 | +€25,414 | +22.0% |
| Financial debts | 43 | €4,897 | €6,796 | +€1,899 | +38.8% |
| Credit institutions | 430/8 | €4,897 | €6,796 | +€1,899 | +38.8% |
| Trade debts | 44 | €22,846 | €49,770 | +€26,924 | +118% |
| Suppliers | 440/4 | €22,846 | €49,770 | +€26,924 | +118% |
| Advances received on contracts in progress | 46 | - | €9,983 | +€9,983 | |
| Taxes, remuneration and social security | 45 | €87,761 | €74,369 | -€13,392 | -15.3% |
| Taxes | 450/3 | €87,761 | €74,369 | -€13,392 | -15.3% |
| Accrued charges and deferred income | 492/3 | - | €1,320 | +€1,320 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,657 | €2,457 | -€1,200 | -32.8% |
| Other operating charges | 640/8 | €8,002 | €686 | -€7,316 | -91.4% |
| Gross operating margin | 9900 | €68,618 | €39,888 | -€28,729 | -41.9% |
| Operating profit (loss) | 9901 | €56,959 | €36,746 | -€20,213 | -35.5% |
| Financial income | 75/76B | €11,129 | €11,912 | +€783 | +7.0% |
| Recurring financial income | 75 | €11,129 | €11,912 | +€783 | +7.0% |
| Financial charges | 65/66B | €5,703 | €5,526 | -€177 | -3.1% |
| Recurring financial charges | 65 | €5,703 | €5,526 | -€177 | -3.1% |
| Profit (loss) for the period before taxes | 9903 | €62,385 | €43,132 | -€19,253 | -30.9% |
| Income taxes | 67/77 | €22,163 | €15,687 | -€6,476 | -29.2% |
| Profit (loss) for the period | 9904 | €40,222 | €27,446 | -€12,776 | -31.8% |
| Profit (loss) for the period to be appropriated | 9905 | €40,222 | €27,446 | -€12,776 | -31.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.