Mareterra: 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.
Mareterra
Largest movements
- Current investments -€150,000
down €150,000 (-27.3%), from €550,000 to €400,000
- Cash +€88,591
up €88,591 (+50.6%), from €175,199 to €263,791
mainly Current investments (+€150,000) and Net result for the year (+€59,060)
- Tangible fixed assets -€36,245
down €36,245 (-4.5%), from €798,610 to €762,365
of which Land and buildings: -€34,902
- Profit (loss) carried forward -€172,985
down €172,985 (-19.8%), from €873,669 to €700,684
- Reserves +€39,646
up €39,646 (+9.1%), from €434,342 to €473,987
of which Distributable reserves: +€40,000
- Other debts +€30,276
up €30,276 (+27.8%), from €108,880 to €139,156
- Gross operating margin -€8,814
down €8,814 (-7.1%), from €123,405 to €114,591
- Other operating charges -€5,423
down €5,423 (-29.7%), from €18,287 to €12,864
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 | €1,528,414 | €1,439,057 | -€89,357 | -5.8% |
| Fixed assets | 21/28 | €798,610 | €762,365 | -€36,245 | -4.5% |
| Tangible fixed assets | 22/27 | €798,610 | €762,365 | -€36,245 | -4.5% |
| Land and buildings | 22 | €706,969 | €672,068 | -€34,902 | -4.9% |
| Furniture and vehicles | 24 | €2,565 | €1,222 | -€1,344 | -52.4% |
| Other tangible fixed assets | 26 | €89,076 | €89,076 | = | 0.0% |
| Current assets | 29/58 | €729,804 | €676,692 | -€53,112 | -7.3% |
| Amounts receivable within one year | 40/41 | €394 | €4,252 | +€3,858 | +980.1% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €394 | €4,252 | +€3,858 | +980.1% |
| Current investments | 50/53 | €550,000 | €400,000 | -€150,000 | -27.3% |
| Cash at bank and in hand | 54/58 | €175,199 | €263,791 | +€88,591 | +50.6% |
| Deferred charges and accrued income | 490/1 | €4,211 | €8,650 | +€4,438 | +105.4% |
| Total equity and liabilities | 10/49 | €1,528,414 | €1,439,057 | -€89,357 | -5.8% |
| Equity | 10/15 | €1,374,011 | €1,240,671 | -€133,340 | -9.7% |
| Contributions | 10/11 | €66,000 | €66,000 | = | 0.0% |
| Capital | 10 | €66,000 | €66,000 | = | 0.0% |
| Issued capital | 100 | €66,000 | €66,000 | = | 0.0% |
| Reserves | 13 | €434,342 | €473,987 | +€39,646 | +9.1% |
| Non-distributable reserves | 130/1 | €15,161 | €15,161 | = | 0.0% |
| Legal reserve | 130 | €15,161 | €15,161 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,063 | €709 | -€354 | -33.3% |
| Distributable reserves | 133 | €418,117 | €458,117 | +€40,000 | +9.6% |
| Profit (loss) carried forward | 14 | €873,669 | €700,684 | -€172,985 | -19.8% |
| Provisions and deferred taxes | 16 | €354 | €236 | -€118 | -33.3% |
| Deferred taxes | 168 | €354 | €236 | -€118 | -33.3% |
| Amounts payable | 17/49 | €154,049 | €198,150 | +€44,101 | +28.6% |
| Amounts payable within one year | 42/48 | €154,049 | €198,150 | +€44,101 | +28.6% |
| Trade debts | 44 | €769 | €1,274 | +€505 | +65.6% |
| Suppliers | 440/4 | €769 | €1,274 | +€505 | +65.6% |
| Taxes, remuneration and social security | 45 | €44,400 | €57,720 | +€13,320 | +30.0% |
| Taxes | 450/3 | €44,400 | €57,720 | +€13,320 | +30.0% |
| Other amounts payable | 47/48 | €108,880 | €139,156 | +€30,276 | +27.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,064 | €35,882 | -€181 | -0.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€1,732 | -€1,738 | -€5 | -0.3% |
| Other operating charges | 640/8 | €18,287 | €12,864 | -€5,423 | -29.7% |
| Non-recurring operating charges | 66A | - | €363 | +€363 | |
| Gross operating margin | 9900 | €123,405 | €114,591 | -€8,814 | -7.1% |
| Operating profit (loss) | 9901 | €70,787 | €67,219 | -€3,567 | -5.0% |
| Financial income | 75/76B | €17,716 | €17,396 | -€319 | -1.8% |
| Recurring financial income | 75 | €17,716 | €17,396 | -€319 | -1.8% |
| Financial charges | 65/66B | €182 | €238 | +€57 | +31.1% |
| Recurring financial charges | 65 | €182 | €238 | +€57 | +31.1% |
| Profit (loss) for the period before taxes | 9903 | €88,321 | €84,377 | -€3,943 | -4.5% |
| Transfer from deferred taxes | 780 | €118 | €118 | = | 0.0% |
| Income taxes | 67/77 | €26,409 | €25,435 | -€974 | -3.7% |
| Profit (loss) for the period | 9904 | €62,030 | €59,060 | -€2,969 | -4.8% |
| Transfer from tax-exempt reserves | 789 | €354 | €354 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €62,384 | €59,415 | -€2,969 | -4.8% |
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 3 October 2026 via checked.be.