MARENI: 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.
MARENI
Largest movements
- Cash +€103,838
up €103,838 (+622.9%), from €16,670 to €120,509
mainly Receivables within one year (+€89,766) and Net result for the year (+€11,262)
- Receivables within one year -€89,766
down €89,766 (-19.0%), from €472,535 to €382,770
of which Other amounts receivable: -€89,766
- Tangible fixed assets -€10,015
down €10,015 (-9.9%), from €101,340 to €91,324
of which Land and buildings: -€9,761
- Reserves +€11,262
up €11,262 (+2.1%), from €530,530 to €541,792
of which Distributable reserves: +€11,262
- Gross operating margin -€256,831
down €256,831, from €255,758 to -€1,073
- Taxes -€91,504
down €91,504 (-99.1%), from €92,364 to €860
- Write-downs +€20,894
up €20,894, from -€20,894 to €0
- Other operating charges -€5,677
down €5,677 (-71.5%), from €7,941 to €2,264
- Financial income +€5,459
up €5,459 (+27.1%), from €20,142 to €25,601
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 | €591,748 | €595,873 | +€4,125 | +0.7% |
| Fixed assets | 21/28 | €101,340 | €91,324 | -€10,015 | -9.9% |
| Tangible fixed assets | 22/27 | €101,340 | €91,324 | -€10,015 | -9.9% |
| Land and buildings | 22 | €100,862 | €91,101 | -€9,761 | -9.7% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €477 | €223 | -€254 | -53.3% |
| Current assets | 29/58 | €490,409 | €504,549 | +€14,140 | +2.9% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €472,535 | €382,770 | -€89,766 | -19.0% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €472,535 | €382,770 | -€89,766 | -19.0% |
| Current investments | 50/53 | €750 | €751 | +€1 | +0.2% |
| Cash at bank and in hand | 54/58 | €16,670 | €120,509 | +€103,838 | +622.9% |
| Deferred charges and accrued income | 490/1 | €453 | €520 | +€67 | +14.7% |
| Total equity and liabilities | 10/49 | €591,748 | €595,873 | +€4,125 | +0.7% |
| Equity | 10/15 | €549,130 | €560,392 | +€11,262 | +2.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €530,530 | €541,792 | +€11,262 | +2.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €528,670 | €539,932 | +€11,262 | +2.1% |
| Amounts payable | 17/49 | €42,618 | €35,481 | -€7,136 | -16.7% |
| Amounts payable within one year | 42/48 | €41,182 | €33,918 | -€7,264 | -17.6% |
| Trade debts | 44 | €4,361 | €137 | -€4,224 | -96.9% |
| Suppliers | 440/4 | €4,361 | €137 | -€4,224 | -96.9% |
| Taxes, remuneration and social security | 45 | €36,822 | €33,781 | -€3,040 | -8.3% |
| Taxes | 450/3 | €36,822 | €33,781 | -€3,040 | -8.3% |
| Accrued charges and deferred income | 492/3 | €1,436 | €1,564 | +€128 | +8.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,015 | €10,015 | -€0 | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€20,894 | €0 | +€20,894 | |
| Other operating charges | 640/8 | €7,941 | €2,264 | -€5,677 | -71.5% |
| Gross operating margin | 9900 | €255,758 | -€1,073 | -€256,831 | |
| Operating profit (loss) | 9901 | €258,695 | -€13,352 | -€272,048 | |
| Financial income | 75/76B | €20,142 | €25,601 | +€5,459 | +27.1% |
| Recurring financial income | 75 | €20,142 | €25,601 | +€5,459 | +27.1% |
| Financial charges | 65/66B | €1,476 | €127 | -€1,349 | -91.4% |
| Recurring financial charges | 65 | €1,476 | €127 | -€1,349 | -91.4% |
| Profit (loss) for the period before taxes | 9903 | €277,362 | €12,122 | -€265,240 | -95.6% |
| Income taxes | 67/77 | €92,364 | €860 | -€91,504 | -99.1% |
| Profit (loss) for the period | 9904 | €184,997 | €11,262 | -€173,736 | -93.9% |
| Profit (loss) for the period to be appropriated | 9905 | €184,997 | €11,262 | -€173,736 | -93.9% |
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 6 October 2026 via checked.be.