MARETI: what changed
Two financial 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.
MARETI
Largest movements
- Tangible fixed assets -€26,004
down €26,004 (-5.8%), from €444,910 to €418,906
- Current portion of long-term debt +€42,267
up €42,267 (+26.0%), from €162,611 to €204,879
- Profit (loss) carried forward -€35,877
down €35,877 (-109%), from -€33,063 to -€68,940
- Debts after one year -€31,144
down €31,144 (-32.2%), from €96,609 to €65,465
- Depreciation -€2,321
down €2,321 (-8.2%), from €28,325 to €26,004
- Gross operating margin -€827
down €827 (-173%), from -€477 to -€1,304
- Other operating charges -€525
down €525 (-21.5%), from €2,445 to €1,920
- Financial charges +€149
up €149 (+2.3%), from €6,499 to €6,648
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.
Derived cash bridge
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 | €447,602 | €423,020 | -€24,583 | -5.5% |
| Fixed assets | 21/28 | €444,910 | €418,906 | -€26,004 | -5.8% |
| Tangible fixed assets | 22/27 | €444,910 | €418,906 | -€26,004 | -5.8% |
| Land and buildings | 22 | €444,910 | €418,906 | -€26,004 | -5.8% |
| Current assets | 29/58 | €2,692 | €4,113 | +€1,421 | +52.8% |
| Cash at bank and in hand | 54/58 | €2,692 | €4,113 | +€1,421 | +52.8% |
| Total equity and liabilities | 10/49 | €447,602 | €423,020 | -€24,583 | -5.5% |
| Equity | 10/15 | €176,937 | €141,060 | -€35,877 | -20.3% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Revaluation surpluses | 12 | €0 | - | = | |
| Reserves | 13 | €110,000 | €110,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€33,063 | -€68,940 | -€35,877 | -109% |
| Amounts payable | 17/49 | €270,665 | €281,959 | +€11,294 | +4.2% |
| Amounts payable after more than one year | 17 | €96,609 | €65,465 | -€31,144 | -32.2% |
| Financial debts | 170/4 | €96,609 | €65,465 | -€31,144 | -32.2% |
| Amounts payable within one year | 42/48 | €173,243 | €215,747 | +€42,504 | +24.5% |
| Current portion of amounts payable after more than one year | 42 | €162,611 | €204,879 | +€42,267 | +26.0% |
| Trade debts | 44 | €333 | €0 | -€333 | -100% |
| Suppliers | 440/4 | €333 | €0 | -€333 | -100% |
| Other amounts payable | 47/48 | €10,299 | €10,868 | +€570 | +5.5% |
| Accrued charges and deferred income | 492/3 | €814 | €748 | -€66 | -8.1% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,325 | €26,004 | -€2,321 | -8.2% |
| Other operating charges | 640/8 | €2,445 | €1,920 | -€525 | -21.5% |
| Gross operating margin | 9900 | -€477 | -€1,304 | -€827 | -173% |
| Operating profit (loss) | 9901 | -€31,247 | -€29,228 | +€2,019 | +6.5% |
| Financial charges | 65/66B | €6,499 | €6,648 | +€149 | +2.3% |
| Recurring financial charges | 65 | €6,499 | €6,648 | +€149 | +2.3% |
| Profit (loss) for the period before taxes | 9903 | -€37,746 | -€35,877 | +€1,870 | +5.0% |
| Profit (loss) for the period | 9904 | -€37,746 | -€35,877 | +€1,870 | +5.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€37,746 | -€35,877 | +€1,870 | +5.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.