MARES & C°: 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.
MARES & C°
Largest movements
- Cash -€140,607
down €140,607 (-72.5%), from €193,960 to €53,353
mainly Receivables within one year (-€133,823) and Deferred charges and accrued income (-€20,314)
- Receivables within one year +€133,823
up €133,823 (+77.9%), from €171,683 to €305,506
of which Other amounts receivable: +€133,823
No liability line moved by more than 1% of the balance sheet total.
- Financial income -€95,805
down €95,805 (-82.3%), from €116,369 to €20,564
- Depreciation +€6,632
up €6,632 (+500.0%), from €1,326 to €7,959
- Gross operating margin -€3,637
down €3,637 (-251.9%), from -€1,444 to -€5,081
- Other operating charges +€824
up €824 (+85.2%), from €968 to €1,792
- Financial charges -€740
down €740 (-71.3%), from €1,037 to €298
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 | €2,343,861 | €2,349,008 | +€5,147 | +0.2% |
| Fixed assets | 21/28 | €162,201 | €154,242 | -€7,959 | -4.9% |
| Tangible fixed assets | 22/27 | €162,200 | €154,241 | -€7,959 | -4.9% |
| Land and buildings | 22 | €144,311 | €138,835 | -€5,476 | -3.8% |
| Plant, machinery and equipment | 23 | €17,889 | €15,406 | -€2,483 | -13.9% |
| Financial fixed assets | 28 | €1 | €1 | = | 0.0% |
| Current assets | 29/58 | €2,181,660 | €2,194,766 | +€13,106 | +0.6% |
| Amounts receivable after more than one year | 29 | €1,801,552 | €1,801,127 | -€425 | 0.0% |
| Other amounts receivable | 291 | €1,801,552 | €1,801,127 | -€425 | 0.0% |
| Amounts receivable within one year | 40/41 | €171,683 | €305,506 | +€133,823 | +77.9% |
| Trade receivables | 40 | €12,705 | €12,705 | = | 0.0% |
| Other amounts receivable | 41 | €158,978 | €292,801 | +€133,823 | +84.2% |
| Cash at bank and in hand | 54/58 | €193,960 | €53,353 | -€140,607 | -72.5% |
| Deferred charges and accrued income | 490/1 | €14,466 | €34,780 | +€20,314 | +140.4% |
| Total equity and liabilities | 10/49 | €2,343,861 | €2,349,008 | +€5,147 | +0.2% |
| Equity | 10/15 | €2,343,301 | €2,348,242 | +€4,940 | +0.2% |
| Contributions | 10/11 | €2,320,000 | €2,320,000 | = | 0.0% |
| Reserves | 13 | - | €4,940 | +€4,940 | |
| Distributable reserves | 133 | - | €4,940 | +€4,940 | |
| Profit (loss) carried forward | 14 | €23,301 | €23,302 | +€0 | 0.0% |
| Amounts payable | 17/49 | €560 | €766 | +€206 | +36.9% |
| Amounts payable within one year | 42/48 | €560 | €766 | +€206 | +36.9% |
| Trade debts | 44 | €560 | €272 | -€288 | -51.4% |
| Suppliers | 440/4 | €560 | €272 | -€288 | -51.4% |
| Taxes, remuneration and social security | 45 | - | €494 | +€494 | |
| Taxes | 450/3 | - | €494 | +€494 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,326 | €7,959 | +€6,632 | +500.0% |
| Other operating charges | 640/8 | €968 | €1,792 | +€824 | +85.2% |
| Gross operating margin | 9900 | -€1,444 | -€5,081 | -€3,637 | -251.9% |
| Operating profit (loss) | 9901 | -€3,738 | -€14,832 | -€11,094 | -296.8% |
| Financial income | 75/76B | €116,369 | €20,564 | -€95,805 | -82.3% |
| Recurring financial income | 75 | €116,369 | €20,564 | -€95,805 | -82.3% |
| Financial charges | 65/66B | €1,037 | €298 | -€740 | -71.3% |
| Recurring financial charges | 65 | €1,037 | €298 | -€740 | -71.3% |
| Profit (loss) for the period before taxes | 9903 | €111,594 | €5,434 | -€106,159 | -95.1% |
| Income taxes | 67/77 | - | €494 | +€494 | |
| Profit (loss) for the period | 9904 | €111,594 | €4,940 | -€106,653 | -95.6% |
| Profit (loss) for the period to be appropriated | 9905 | €111,594 | €4,940 | -€106,653 | -95.6% |
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 2 October 2026 via checked.be.