Mare Invest: 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 Invest
Largest movements
- Receivables within one year +€153,115
up €153,115 (+20.3%), from €752,989 to €906,104
of which Other amounts receivable: +€123,535
- Cash +€24,849
up €24,849 (+144%), from €17,254 to €42,103
mainly Debts after one year (+€155,651) and Net result for the year (+€19,605)
- Debts after one year +€155,651
up €155,651, from €0 to €155,651
- Reserves +€19,605
up €19,605 (+4.6%), from €427,144 to €446,749
- Other operating charges -€511,518
down €511,518 (-98.8%), from €517,657 to €6,139
- Gross operating margin -€207,684
down €207,684 (-93.3%), from €222,557 to €14,873
- Financial income -€126,128
down €126,128 (-79.5%), from €158,624 to €32,495
- Financial charges -€27,100
down €27,100 (-77.3%), from €35,069 to €7,970
- Taxes -€20,407
down €20,407 (-72.7%), from €28,062 to €7,655
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 | €770,602 | €948,207 | +€177,605 | +23.0% |
| Fixed assets | 21/28 | €0 | - | = | |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €770,602 | €948,207 | +€177,605 | +23.0% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €752,989 | €906,104 | +€153,115 | +20.3% |
| Trade receivables | 40 | €9,875 | €39,455 | +€29,580 | +300% |
| Other amounts receivable | 41 | €743,114 | €866,649 | +€123,535 | +16.6% |
| Cash at bank and in hand | 54/58 | €17,254 | €42,103 | +€24,849 | +144% |
| Deferred charges and accrued income | 490/1 | €359 | €0 | -€359 | -100% |
| Total equity and liabilities | 10/49 | €770,602 | €948,207 | +€177,605 | +23.0% |
| Equity | 10/15 | €727,144 | €746,749 | +€19,605 | +2.7% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Reserves | 13 | €427,144 | €446,749 | +€19,605 | +4.6% |
| Distributable reserves | 133 | €427,144 | €446,749 | +€19,605 | +4.6% |
| Amounts payable | 17/49 | €43,458 | €201,458 | +€158,000 | +364% |
| Amounts payable after more than one year | 17 | €0 | €155,651 | +€155,651 | |
| Financial debts | 170/4 | €0 | €155,651 | +€155,651 | |
| Amounts payable within one year | 42/48 | €43,458 | €45,807 | +€2,349 | +5.4% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €4,612 | €10,090 | +€5,477 | +119% |
| Suppliers | 440/4 | €4,612 | €10,090 | +€5,477 | +119% |
| Taxes, remuneration and social security | 45 | €38,845 | €35,717 | -€3,128 | -8.1% |
| Taxes | 450/3 | €38,845 | €35,717 | -€3,128 | -8.1% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Other operating charges | 640/8 | €517,657 | €6,139 | -€511,518 | -98.8% |
| Non-recurring operating charges | 66A | €6,077 | €6,000 | -€77 | -1.3% |
| Gross operating margin | 9900 | €222,557 | €14,873 | -€207,684 | -93.3% |
| Operating profit (loss) | 9901 | -€301,177 | €2,734 | +€303,912 | |
| Financial income | 75/76B | €158,624 | €32,495 | -€126,128 | -79.5% |
| Recurring financial income | 75 | €158,624 | €32,495 | -€126,128 | -79.5% |
| Financial charges | 65/66B | €35,069 | €7,970 | -€27,100 | -77.3% |
| Recurring financial charges | 65 | €35,069 | €7,970 | -€27,100 | -77.3% |
| Profit (loss) for the period before taxes | 9903 | -€177,623 | €27,260 | +€204,883 | |
| Income taxes | 67/77 | €28,062 | €7,655 | -€20,407 | -72.7% |
| Profit (loss) for the period | 9904 | -€205,685 | €19,605 | +€225,290 | |
| Profit (loss) for the period to be appropriated | 9905 | -€205,685 | €19,605 | +€225,290 |
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 29 October 2026 via checked.be.