MAREK: 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.
MAREK
Largest movements
- Current investments +€100,000
new in 2025: €100,000
- Cash -€74,427
down €74,427 (-61.3%), from €121,330 to €46,903
mainly Current investments (-€100,000) and Contributions, distributions and other (-€26,634)
- Tangible fixed assets -€17,231
down €17,231 (-24.4%), from €70,721 to €53,491
of which Furniture and vehicles: -€16,151
- Deferred charges and accrued income +€3,023
up €3,023 (+267.6%), from €1,129 to €4,152
- Reserves +€13,494
up €13,494 (+8.2%), from €164,711 to €178,206
of which Distributable reserves: +€13,494
- Financial income +€2,314
up €2,314 (+795.1%), from €291 to €2,604
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 | €224,313 | €237,606 | +€13,293 | +5.9% |
| Fixed assets | 21/28 | €70,721 | €53,491 | -€17,231 | -24.4% |
| Tangible fixed assets | 22/27 | €70,721 | €53,491 | -€17,231 | -24.4% |
| Plant, machinery and equipment | 23 | €8,045 | €6,964 | -€1,080 | -13.4% |
| Furniture and vehicles | 24 | €62,677 | €46,526 | -€16,151 | -25.8% |
| Current assets | 29/58 | €153,592 | €184,115 | +€30,523 | +19.9% |
| Amounts receivable within one year | 40/41 | €31,132 | €33,060 | +€1,928 | +6.2% |
| Trade receivables | 40 | €12,575 | €28,296 | +€15,722 | +125.0% |
| Other amounts receivable | 41 | €18,557 | €4,764 | -€13,793 | -74.3% |
| Current investments | 50/53 | - | €100,000 | +€100,000 | |
| Cash at bank and in hand | 54/58 | €121,330 | €46,903 | -€74,427 | -61.3% |
| Deferred charges and accrued income | 490/1 | €1,129 | €4,152 | +€3,023 | +267.6% |
| Total equity and liabilities | 10/49 | €224,313 | €237,606 | +€13,293 | +5.9% |
| Equity | 10/15 | €209,711 | €223,206 | +€13,494 | +6.4% |
| Contributions | 10/11 | €45,000 | €45,000 | = | 0.0% |
| Reserves | 13 | €164,711 | €178,206 | +€13,494 | +8.2% |
| Non-distributable reserves | 130/1 | €4,500 | €4,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,500 | €4,500 | = | 0.0% |
| Distributable reserves | 133 | €160,211 | €173,706 | +€13,494 | +8.4% |
| Amounts payable | 17/49 | €14,602 | €14,400 | -€202 | -1.4% |
| Amounts payable within one year | 42/48 | €14,602 | €14,400 | -€202 | -1.4% |
| Trade debts | 44 | €1,223 | €2,741 | +€1,517 | +124.0% |
| Suppliers | 440/4 | €1,223 | €2,741 | +€1,517 | +124.0% |
| Taxes, remuneration and social security | 45 | €12,579 | €10,549 | -€2,030 | -16.1% |
| Taxes | 450/3 | €12,579 | €10,549 | -€2,030 | -16.1% |
| Other amounts payable | 47/48 | €800 | €1,111 | +€311 | +38.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,569 | €22,219 | +€650 | +3.0% |
| Other operating charges | 640/8 | €963 | €1,282 | +€319 | +33.1% |
| Gross operating margin | 9900 | €81,733 | €82,540 | +€806 | +1.0% |
| Operating profit (loss) | 9901 | €59,202 | €59,039 | -€163 | -0.3% |
| Financial income | 75/76B | €291 | €2,604 | +€2,314 | +795.1% |
| Recurring financial income | 75 | €291 | €2,604 | +€2,314 | +795.1% |
| Financial charges | 65/66B | €1,281 | €1,443 | +€162 | +12.7% |
| Recurring financial charges | 65 | €1,281 | €1,443 | +€162 | +12.7% |
| Profit (loss) for the period before taxes | 9903 | €58,212 | €60,201 | +€1,988 | +3.4% |
| Income taxes | 67/77 | €20,201 | €20,072 | -€128 | -0.6% |
| Profit (loss) for the period | 9904 | €38,011 | €40,128 | +€2,117 | +5.6% |
| Profit (loss) for the period to be appropriated | 9905 | €38,011 | €40,128 | +€2,117 | +5.6% |
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 4 October 2026 via checked.be.