MARETMAT: 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.
MARETMAT
Largest movements
- Cash -€133,596
down €133,596 (-64.3%), from €207,872 to €74,276
mainly Contributions, distributions and other (-€530,000) and Other debts (-€50,298)
- Current investments +€48,773
up €48,773 (+75.9%), from €64,227 to €113,000
- Receivables within one year +€10,708
up €10,708 (+348.6%), from €3,072 to €13,780
- Tangible fixed assets -€3,800
down €3,800 (-56.2%), from €6,766 to €2,966
of which Furniture and vehicles: -€6,223
- Other debts -€50,298
down €50,298 (-20.1%), from €250,747 to €200,449
- Reserves -€26,128
down €26,128 (-76.3%), from €34,224 to €8,096
- Gross operating margin +€329,253
up €329,253 (+96.9%), from €339,867 to €669,119
- Taxes +€79,117
up €79,117 (+96.0%), from €82,435 to €161,552
- Financial income -€8,495
down €8,495 (-66.1%), from €12,853 to €4,358
- Depreciation -€7,941
down €7,941 (-53.8%), from €14,752 to €6,811
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €288,817 | €212,048 | -€76,769 | -26.6% |
| Fixed assets | 21/28 | €6,766 | €2,966 | -€3,800 | -56.2% |
| Tangible fixed assets | 22/27 | €6,766 | €2,966 | -€3,800 | -56.2% |
| Plant, machinery and equipment | 23 | €543 | €2,966 | +€2,423 | +446.2% |
| Furniture and vehicles | 24 | €6,223 | €0 | -€6,223 | -100.0% |
| Current assets | 29/58 | €282,051 | €209,082 | -€72,969 | -25.9% |
| Amounts receivable within one year | 40/41 | €3,072 | €13,780 | +€10,708 | +348.6% |
| Other amounts receivable | 41 | €3,072 | €13,780 | +€10,708 | +348.6% |
| Current investments | 50/53 | €64,227 | €113,000 | +€48,773 | +75.9% |
| Cash at bank and in hand | 54/58 | €207,872 | €74,276 | -€133,596 | -64.3% |
| Deferred charges and accrued income | 490/1 | €6,881 | €8,026 | +€1,145 | +16.6% |
| Total equity and liabilities | 10/49 | €288,817 | €212,048 | -€76,769 | -26.6% |
| Equity | 10/15 | €36,224 | €10,096 | -€26,128 | -72.1% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €34,224 | €8,096 | -€26,128 | -76.3% |
| Distributable reserves | 133 | €34,224 | €8,096 | -€26,128 | -76.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €252,594 | €201,953 | -€50,641 | -20.0% |
| Amounts payable within one year | 42/48 | €252,594 | €201,953 | -€50,641 | -20.0% |
| Trade debts | 44 | €1,846 | €1,504 | -€343 | -18.6% |
| Suppliers | 440/4 | €1,846 | €1,504 | -€343 | -18.6% |
| Other amounts payable | 47/48 | €250,747 | €200,449 | -€50,298 | -20.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,752 | €6,811 | -€7,941 | -53.8% |
| Other operating charges | 640/8 | €1,047 | €1,197 | +€151 | +14.4% |
| Gross operating margin | 9900 | €339,867 | €669,119 | +€329,253 | +96.9% |
| Operating profit (loss) | 9901 | €324,068 | €661,111 | +€337,043 | +104.0% |
| Financial income | 75/76B | €12,853 | €4,358 | -€8,495 | -66.1% |
| Recurring financial income | 75 | €12,853 | €4,358 | -€8,495 | -66.1% |
| Financial charges | 65/66B | €45 | €45 | -€0 | -0.3% |
| Recurring financial charges | 65 | €45 | €45 | -€0 | -0.3% |
| Profit (loss) for the period before taxes | 9903 | €336,875 | €665,424 | +€328,549 | +97.5% |
| Income taxes | 67/77 | €82,435 | €161,552 | +€79,117 | +96.0% |
| Profit (loss) for the period | 9904 | €254,440 | €503,872 | +€249,432 | +98.0% |
| Profit (loss) for the period to be appropriated | 9905 | €254,440 | €503,872 | +€249,432 | +98.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2025 and 30 June 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.