MARENA: 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.
MARENA
Largest movements
- Cash -€85,934
down €85,934 (-87.2%), from €98,518 to €12,583
mainly Net result for the year (-€114,970) and Trade debts (-€94,841)
- Receivables within one year -€43,188
down €43,188 (-71.8%), from €60,183 to €16,995
of which Other amounts receivable: -€60,143
- Tangible fixed assets -€22,168
down €22,168 (-100.0%), from €22,168 to €0
- Stocks and contracts -€17,872
down €17,872 (-100.0%), from €17,872 to €0
- Profit (loss) carried forward -€114,970
down €114,970 (-284.0%), from -€40,489 to -€155,459
- Trade debts -€94,841
down €94,841 (-81.5%), from €116,375 to €21,534
of which Suppliers: -€95,668
- Other debts +€43,952
up €43,952 (+726.7%), from €6,048 to €50,000
- Tax, wage and social debts -€4,753
down €4,753 (-19.1%), from €24,879 to €20,127
of which Taxes: -€9,535
- Gross operating margin -€145,442
down €145,442 (-33.3%), from €437,326 to €291,884
- Staff costs -€71,677
down €71,677 (-16.1%), from €445,130 to €373,453
- Financial income -€40,256
down €40,256 (-94.0%), from €42,843 to €2,587
- Depreciation -€9,524
down €9,524 (-100.0%), from €9,524 to €0
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 | €200,413 | €29,801 | -€170,612 | -85.1% |
| Fixed assets | 21/28 | €22,168 | €0 | -€22,168 | -100.0% |
| Tangible fixed assets | 22/27 | €22,168 | €0 | -€22,168 | -100.0% |
| Plant, machinery and equipment | 23 | €4,353 | €0 | -€4,353 | -100.0% |
| Furniture and vehicles | 24 | €7,231 | €0 | -€7,231 | -100.0% |
| Other tangible fixed assets | 26 | €10,584 | €0 | -€10,584 | -100.0% |
| Current assets | 29/58 | €178,245 | €29,801 | -€148,444 | -83.3% |
| Stocks and contracts in progress | 3 | €17,872 | €0 | -€17,872 | -100.0% |
| Stocks | 30/36 | €17,872 | €0 | -€17,872 | -100.0% |
| Amounts receivable within one year | 40/41 | €60,183 | €16,995 | -€43,188 | -71.8% |
| Trade receivables | 40 | €0 | €16,955 | +€16,955 | |
| Other amounts receivable | 41 | €60,183 | €40 | -€60,143 | -99.9% |
| Cash at bank and in hand | 54/58 | €98,518 | €12,583 | -€85,934 | -87.2% |
| Deferred charges and accrued income | 490/1 | €1,673 | €223 | -€1,450 | -86.7% |
| Total equity and liabilities | 10/49 | €200,413 | €29,801 | -€170,612 | -85.1% |
| Equity | 10/15 | €53,111 | -€61,859 | -€114,970 | |
| Contributions | 10/11 | €93,600 | €93,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€40,489 | -€155,459 | -€114,970 | -284.0% |
| Amounts payable | 17/49 | €147,303 | €91,661 | -€55,642 | -37.8% |
| Amounts payable within one year | 42/48 | €147,303 | €91,661 | -€55,642 | -37.8% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €116,375 | €21,534 | -€94,841 | -81.5% |
| Suppliers | 440/4 | €116,375 | €20,708 | -€95,668 | -82.2% |
| Bills of exchange payable | 441 | - | €826 | +€826 | |
| Taxes, remuneration and social security | 45 | €24,879 | €20,127 | -€4,753 | -19.1% |
| Taxes | 450/3 | €10,928 | €1,393 | -€9,535 | -87.3% |
| Remuneration and social security | 454/9 | €13,951 | €18,733 | +€4,783 | +34.3% |
| Other amounts payable | 47/48 | €6,048 | €50,000 | +€43,952 | +726.7% |
| Remuneration, social security and pensions | 62 | €445,130 | €373,453 | -€71,677 | -16.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,524 | €0 | -€9,524 | -100.0% |
| Other operating charges | 640/8 | €18,612 | €18,495 | -€117 | -0.6% |
| Non-recurring operating charges | 66A | - | €3,577 | +€3,577 | |
| Gross operating margin | 9900 | €437,326 | €291,884 | -€145,442 | -33.3% |
| Operating profit (loss) | 9901 | -€35,940 | -€103,641 | -€67,701 | -188.4% |
| Financial income | 75/76B | €42,843 | €2,587 | -€40,256 | -94.0% |
| Recurring financial income | 75 | €42,843 | €2,587 | -€40,256 | -94.0% |
| Financial charges | 65/66B | €10,281 | €13,486 | +€3,204 | +31.2% |
| Recurring financial charges | 65 | €10,281 | €13,486 | +€3,204 | +31.2% |
| Profit (loss) for the period before taxes | 9903 | -€3,378 | -€114,540 | -€111,162 | -3290.4% |
| Income taxes | 67/77 | €47 | €430 | +€383 | +806.6% |
| Profit (loss) for the period | 9904 | -€3,426 | -€114,970 | -€111,544 | -3256.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,426 | -€114,970 | -€111,544 | -3256.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.