MAREA: what changed
Two fiscal 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.
MAREA
Largest movements
- Cash +€87,628
up €87,628 (+225.7%), from €38,818 to €126,446
mainly Other debts (+€201,808) and Net result for the year (+€97,363)
- Receivables within one year +€17,160
up €17,160 (+46.9%), from €36,552 to €53,712
of which Trade receivables: +€20,000
- Tangible fixed assets -€9,061
down €9,061 (-3.0%), from €303,088 to €294,027
of which Land and buildings: -€10,015
- Other debts +€201,808
up €201,808 (+837.5%), from €24,096 to €225,904
- Profit (loss) carried forward -€95,079
down €95,079 (-100.0%), from €95,079 to €0
- Debts after one year -€14,126
down €14,126 (-6.1%), from €230,959 to €216,833
- Gross operating margin +€84,186
up €84,186 (+143.9%), from €58,512 to €142,698
- Taxes +€18,871
up €18,871 (+223.9%), from €8,429 to €27,300
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 | €379,499 | €475,194 | +€95,695 | +25.2% |
| Fixed assets | 21/28 | €303,088 | €294,027 | -€9,061 | -3.0% |
| Tangible fixed assets | 22/27 | €303,088 | €294,027 | -€9,061 | -3.0% |
| Land and buildings | 22 | €297,956 | €287,941 | -€10,015 | -3.4% |
| Furniture and vehicles | 24 | €4,227 | €5,181 | +€954 | +22.6% |
| Other tangible fixed assets | 26 | €905 | €905 | = | 0.0% |
| Current assets | 29/58 | €76,410 | €181,166 | +€104,756 | +137.1% |
| Amounts receivable within one year | 40/41 | €36,552 | €53,712 | +€17,160 | +46.9% |
| Trade receivables | 40 | €30,000 | €50,000 | +€20,000 | +66.7% |
| Other amounts receivable | 41 | €6,552 | €3,712 | -€2,840 | -43.3% |
| Cash at bank and in hand | 54/58 | €38,818 | €126,446 | +€87,628 | +225.7% |
| Deferred charges and accrued income | 490/1 | €1,040 | €1,009 | -€32 | -3.0% |
| Total equity and liabilities | 10/49 | €379,499 | €475,194 | +€95,695 | +25.2% |
| Equity | 10/15 | €100,079 | €5,000 | -€95,079 | -95.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €95,079 | €0 | -€95,079 | -100.0% |
| Amounts payable | 17/49 | €279,420 | €470,194 | +€190,774 | +68.3% |
| Amounts payable after more than one year | 17 | €230,959 | €216,833 | -€14,126 | -6.1% |
| Financial debts | 170/4 | €230,959 | €216,833 | -€14,126 | -6.1% |
| Amounts payable within one year | 42/48 | €46,626 | €251,628 | +€205,003 | +439.7% |
| Current portion of amounts payable after more than one year | 42 | €13,944 | €14,126 | +€182 | +1.3% |
| Trade debts | 44 | €1,558 | €4,855 | +€3,297 | +211.6% |
| Suppliers | 440/4 | €1,558 | €4,855 | +€3,297 | +211.6% |
| Taxes, remuneration and social security | 45 | €7,028 | €6,744 | -€284 | -4.0% |
| Taxes | 450/3 | €4,048 | €3,745 | -€302 | -7.5% |
| Remuneration and social security | 454/9 | €2,980 | €2,998 | +€18 | +0.6% |
| Other amounts payable | 47/48 | €24,096 | €225,904 | +€201,808 | +837.5% |
| Accrued charges and deferred income | 492/3 | €1,835 | €1,732 | -€103 | -5.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,394 | €11,691 | +€297 | +2.6% |
| Other operating charges | 640/8 | €1,323 | €1,426 | +€103 | +7.8% |
| Gross operating margin | 9900 | €58,512 | €142,698 | +€84,186 | +143.9% |
| Operating profit (loss) | 9901 | €45,795 | €129,581 | +€83,786 | +183.0% |
| Financial income | 75/76B | €1 | €26 | +€25 | +1843.6% |
| Recurring financial income | 75 | €1 | €26 | +€25 | +1843.6% |
| Financial charges | 65/66B | €5,257 | €4,944 | -€314 | -6.0% |
| Recurring financial charges | 65 | €5,257 | €4,944 | -€314 | -6.0% |
| Profit (loss) for the period before taxes | 9903 | €40,539 | €124,663 | +€84,124 | +207.5% |
| Income taxes | 67/77 | €8,429 | €27,300 | +€18,871 | +223.9% |
| Profit (loss) for the period | 9904 | €32,110 | €97,363 | +€65,253 | +203.2% |
| Profit (loss) for the period to be appropriated | 9905 | €32,110 | €97,363 | +€65,253 | +203.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.