Mare Projects: 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 Projects
Largest movements
- Receivables within one year +€28,281
up €28,281 (+26.6%), from €106,452 to €134,733
- Cash +€27,952
new in 2024: €27,952
mainly Other debts (+€203,873) and Depreciation (+€13,817)
- Tangible fixed assets -€13,817
down €13,817 (-2.5%), from €552,734 to €538,917
- Other debts +€203,873
up €203,873 (+172%), from €118,544 to €322,417
- Current portion of long-term debt -€104,000
down €104,000 (-19.3%), from €540,000 to €436,000
- Profit (loss) carried forward -€51,921
down €51,921 (-107%), from -€48,457 to -€100,377
- Trade debts +€10,865
up €10,865 (+82.1%), from €13,238 to €24,103
- Tax, wage and social debts -€9,642
down €9,642 (-99.9%), from €9,651 to €9
- Other operating charges -€33,795
down €33,795 (-84.4%), from €40,048 to €6,253
- Financial charges +€4,175
up €4,175 (+15.8%), from €26,472 to €30,647
- Gross operating margin +€1,834
up €1,834 (+60.4%), from -€3,038 to -€1,204
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
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €660,153 | €702,151 | +€41,998 | +6.4% |
| Fixed assets | 21/28 | €552,734 | €538,917 | -€13,817 | -2.5% |
| Tangible fixed assets | 22/27 | €552,734 | €538,917 | -€13,817 | -2.5% |
| Land and buildings | 22 | €552,734 | €538,917 | -€13,817 | -2.5% |
| Current assets | 29/58 | €107,419 | €163,234 | +€55,815 | +52.0% |
| Amounts receivable within one year | 40/41 | €106,452 | €134,733 | +€28,281 | +26.6% |
| Other amounts receivable | 41 | €106,452 | €134,733 | +€28,281 | +26.6% |
| Cash at bank and in hand | 54/58 | - | €27,952 | +€27,952 | |
| Deferred charges and accrued income | 490/1 | €968 | €550 | -€418 | -43.2% |
| Total equity and liabilities | 10/49 | €660,153 | €702,151 | +€41,998 | +6.4% |
| Equity | 10/15 | -€28,457 | -€80,377 | -€51,921 | -182% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€48,457 | -€100,377 | -€51,921 | -107% |
| Amounts payable | 17/49 | €688,610 | €782,529 | +€93,919 | +13.6% |
| Amounts payable within one year | 42/48 | €688,610 | €782,529 | +€93,919 | +13.6% |
| Current portion of amounts payable after more than one year | 42 | €540,000 | €436,000 | -€104,000 | -19.3% |
| Financial debts | 43 | €7,177 | - | -€7,177 | |
| Credit institutions | 430/8 | €7,177 | - | -€7,177 | |
| Trade debts | 44 | €13,238 | €24,103 | +€10,865 | +82.1% |
| Suppliers | 440/4 | €13,238 | €24,103 | +€10,865 | +82.1% |
| Taxes, remuneration and social security | 45 | €9,651 | €9 | -€9,642 | -99.9% |
| Taxes | 450/3 | €9,651 | €9 | -€9,642 | -99.9% |
| Other amounts payable | 47/48 | €118,544 | €322,417 | +€203,873 | +172% |
| Non-recurring operating income | 76A | €4,131 | - | -€4,131 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,817 | €13,817 | = | 0.0% |
| Other operating charges | 640/8 | €40,048 | €6,253 | -€33,795 | -84.4% |
| Gross operating margin | 9900 | -€3,038 | -€1,204 | +€1,834 | +60.4% |
| Operating profit (loss) | 9901 | -€56,903 | -€21,274 | +€35,629 | +62.6% |
| Financial charges | 65/66B | €26,472 | €30,647 | +€4,175 | +15.8% |
| Recurring financial charges | 65 | €26,472 | €30,647 | +€4,175 | +15.8% |
| Profit (loss) for the period before taxes | 9903 | -€83,374 | -€51,921 | +€31,454 | +37.7% |
| Profit (loss) for the period | 9904 | -€83,374 | -€51,921 | +€31,454 | +37.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€83,374 | -€51,921 | +€31,454 | +37.7% |
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 23 October 2026 via checked.be.