MARED INDOOR: 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.
MARED INDOOR
Largest movements
- Cash +€182,984
up €182,984 (+208.3%), from €87,856 to €270,839
mainly Other debts (+€502,752) and Receivables within one year (+€104,450)
- Receivables within one year -€104,450
down €104,450 (-93.7%), from €111,437 to €6,987
of which Other amounts receivable: -€104,177
- Tangible fixed assets -€52,606
down €52,606 (-6.0%), from €879,060 to €826,454
of which Land and buildings: -€50,634
- Debts after one year -€536,000
down €536,000 (-81.3%), from €659,000 to €123,000
of which Other amounts payable: -€500,000
- Other debts +€502,752
up €502,752 (+4374.5%), from €11,493 to €514,245
- Reserves +€74,438
up €74,438 (+49.4%), from €150,686 to €225,125
of which Distributable reserves: +€74,438
- Short-term financial debts -€12,250
down €12,250 (-100.0%), from €12,250 to €0
- Gross operating margin -€21,952
down €21,952 (-7.3%), from €301,121 to €279,170
- Financial charges -€21,571
down €21,571 (-65.7%), from €32,839 to €11,268
- Taxes -€4,057
down €4,057 (-13.9%), from €29,263 to €25,205
- Financial income -€3,911
down €3,911 (-95.2%), from €4,108 to €197
- Staff costs +€3,243
up €3,243 (+3.3%), from €98,955 to €102,198
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 | €1,098,460 | €1,128,016 | +€29,556 | +2.7% |
| Fixed assets | 21/28 | €879,060 | €830,954 | -€48,106 | -5.5% |
| Tangible fixed assets | 22/27 | €879,060 | €826,454 | -€52,606 | -6.0% |
| Land and buildings | 22 | €871,300 | €820,667 | -€50,634 | -5.8% |
| Plant, machinery and equipment | 23 | €7,760 | €5,788 | -€1,972 | -25.4% |
| Financial fixed assets | 28 | - | €4,500 | +€4,500 | |
| Current assets | 29/58 | €219,400 | €297,062 | +€77,662 | +35.4% |
| Stocks and contracts in progress | 3 | €14,696 | €16,307 | +€1,611 | +11.0% |
| Stocks | 30/36 | €14,696 | €16,307 | +€1,611 | +11.0% |
| Amounts receivable within one year | 40/41 | €111,437 | €6,987 | -€104,450 | -93.7% |
| Trade receivables | 40 | €273 | €0 | -€273 | -100.0% |
| Other amounts receivable | 41 | €111,164 | €6,987 | -€104,177 | -93.7% |
| Cash at bank and in hand | 54/58 | €87,856 | €270,839 | +€182,984 | +208.3% |
| Deferred charges and accrued income | 490/1 | €5,411 | €2,929 | -€2,482 | -45.9% |
| Total equity and liabilities | 10/49 | €1,098,460 | €1,128,016 | +€29,556 | +2.7% |
| Equity | 10/15 | €350,686 | €425,125 | +€74,438 | +21.2% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €150,686 | €225,125 | +€74,438 | +49.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €150,686 | €225,125 | +€74,438 | +49.4% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €747,774 | €702,892 | -€44,882 | -6.0% |
| Amounts payable after more than one year | 17 | €659,000 | €123,000 | -€536,000 | -81.3% |
| Financial debts | 170/4 | €159,000 | €123,000 | -€36,000 | -22.6% |
| Other amounts payable | 178/9 | €500,000 | €0 | -€500,000 | -100.0% |
| Amounts payable within one year | 42/48 | €87,725 | €577,256 | +€489,531 | +558.0% |
| Current portion of amounts payable after more than one year | 42 | €36,000 | €36,000 | = | 0.0% |
| Financial debts | 43 | €12,250 | €0 | -€12,250 | -100.0% |
| Other loans | 439 | €12,250 | €0 | -€12,250 | -100.0% |
| Trade debts | 44 | €12,870 | €13,345 | +€475 | +3.7% |
| Suppliers | 440/4 | €12,870 | €13,345 | +€475 | +3.7% |
| Taxes, remuneration and social security | 45 | €15,112 | €13,666 | -€1,446 | -9.6% |
| Taxes | 450/3 | €9,847 | €8,110 | -€1,737 | -17.6% |
| Remuneration and social security | 454/9 | €5,264 | €5,556 | +€291 | +5.5% |
| Other amounts payable | 47/48 | €11,493 | €514,245 | +€502,752 | +4374.5% |
| Accrued charges and deferred income | 492/3 | €1,049 | €2,636 | +€1,587 | +151.3% |
| Remuneration, social security and pensions | 62 | €98,955 | €102,198 | +€3,243 | +3.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,395 | €52,606 | +€1,211 | +2.4% |
| Other operating charges | 640/8 | €13,736 | €13,651 | -€84 | -0.6% |
| Gross operating margin | 9900 | €301,121 | €279,170 | -€21,952 | -7.3% |
| Operating profit (loss) | 9901 | €137,037 | €110,714 | -€26,322 | -19.2% |
| Financial income | 75/76B | €4,108 | €197 | -€3,911 | -95.2% |
| Recurring financial income | 75 | €4,108 | €197 | -€3,911 | -95.2% |
| Financial charges | 65/66B | €32,839 | €11,268 | -€21,571 | -65.7% |
| Recurring financial charges | 65 | €32,839 | €11,268 | -€21,571 | -65.7% |
| Profit (loss) for the period before taxes | 9903 | €108,305 | €99,643 | -€8,662 | -8.0% |
| Income taxes | 67/77 | €29,263 | €25,205 | -€4,057 | -13.9% |
| Profit (loss) for the period | 9904 | €79,043 | €74,438 | -€4,604 | -5.8% |
| Profit (loss) for the period to be appropriated | 9905 | €79,043 | €74,438 | -€4,604 | -5.8% |
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 5 October 2026 via checked.be.