MARECASA: 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.
MARECASA
Largest movements
- Cash +€38,051
up €38,051 (+9,545%), from €399 to €38,450
mainly Net result for the year (+€34,263) and Tax, wage and social debts (+€8,335)
- Receivables within one year -€2,551
down €2,551 (-25.6%), from €9,983 to €7,432
of which Trade receivables: -€3,993
- Profit (loss) carried forward +€34,263
up €34,263 (+12,956%), from €264 to €34,527
- Tax, wage and social debts +€8,335
up €8,335 (+929%), from €897 to €9,232
of which Taxes: +€6,050
- Other debts -€6,600
down €6,600 (-79.4%), from €8,308 to €1,708
- Trade debts -€1,104
down €1,104 (-28.3%), from €3,900 to €2,796
- Gross operating margin +€44,003
up €44,003 (+1,166%), from €3,773 to €47,776
- Taxes +€10,213
up €10,213 (+15,564%), from €66 to €10,279
- Financial charges +€1,353
up €1,353 (+514%), from €263 to €1,616
- Other operating charges +€593
up €593 (+116%), from €513 to €1,107
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 | €14,870 | €49,764 | +€34,894 | +235% |
| Formation expenses | 20 | €286 | €0 | -€286 | -100% |
| Fixed assets | 21/28 | €1,125 | €900 | -€225 | -20.0% |
| Tangible fixed assets | 22/27 | €1,125 | €900 | -€225 | -20.0% |
| Furniture and vehicles | 24 | €1,125 | €900 | -€225 | -20.0% |
| Current assets | 29/58 | €13,458 | €48,863 | +€35,405 | +263% |
| Amounts receivable within one year | 40/41 | €9,983 | €7,432 | -€2,551 | -25.6% |
| Trade receivables | 40 | €9,983 | €5,990 | -€3,993 | -40.0% |
| Other amounts receivable | 41 | €0 | €1,442 | +€1,442 | |
| Cash at bank and in hand | 54/58 | €399 | €38,450 | +€38,051 | +9,545% |
| Deferred charges and accrued income | 490/1 | €3,077 | €2,981 | -€95 | -3.1% |
| Total equity and liabilities | 10/49 | €14,870 | €49,764 | +€34,894 | +235% |
| Equity | 10/15 | €1,764 | €36,027 | +€34,263 | +1,942% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €264 | €34,527 | +€34,263 | +12,956% |
| Amounts payable | 17/49 | €13,105 | €13,736 | +€631 | +4.8% |
| Amounts payable within one year | 42/48 | €13,105 | €13,736 | +€631 | +4.8% |
| Trade debts | 44 | €3,900 | €2,796 | -€1,104 | -28.3% |
| Suppliers | 440/4 | €3,900 | €2,796 | -€1,104 | -28.3% |
| Taxes, remuneration and social security | 45 | €897 | €9,232 | +€8,335 | +929% |
| Taxes | 450/3 | €897 | €6,947 | +€6,050 | +674% |
| Remuneration and social security | 454/9 | - | €2,285 | +€2,285 | |
| Other amounts payable | 47/48 | €8,308 | €1,708 | -€6,600 | -79.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €573 | €512 | -€62 | -10.8% |
| Other operating charges | 640/8 | €513 | €1,107 | +€593 | +116% |
| Gross operating margin | 9900 | €3,773 | €47,776 | +€44,003 | +1,166% |
| Operating profit (loss) | 9901 | €2,686 | €46,158 | +€43,471 | +1,618% |
| Financial charges | 65/66B | €263 | €1,616 | +€1,353 | +514% |
| Recurring financial charges | 65 | €263 | €1,616 | +€1,353 | +514% |
| Profit (loss) for the period before taxes | 9903 | €2,423 | €44,541 | +€42,118 | +1,738% |
| Income taxes | 67/77 | €66 | €10,279 | +€10,213 | +15,564% |
| Profit (loss) for the period | 9904 | €2,357 | €34,263 | +€31,905 | +1,353% |
| Profit (loss) for the period to be appropriated | 9905 | €2,357 | €34,263 | +€31,905 | +1,353% |
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 20 October 2026 via checked.be.