MARI: 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.
MARI
Largest movements
- Cash +€138,223
up €138,223 (+150.5%), from €91,841 to €230,064
mainly Accrued charges and deferred income (+€176,435) and Depreciation (+€57,968)
- Tangible fixed assets +€96,133
up €96,133 (+23.1%), from €415,930 to €512,063
of which Land and buildings: +€129,074
- Receivables within one year +€37,423
up €37,423 (+460.1%), from €8,134 to €45,557
of which Trade receivables: +€37,425
- Deferred charges and accrued income +€16,519
up €16,519 (+140.7%), from €11,741 to €28,260
- Accrued charges and deferred income +€176,435
up €176,435 (+225.5%), from €78,225 to €254,660
- Debts after one year +€57,153
up €57,153 (+21.2%), from €268,998 to €326,151
- Contributions +€30,013
up €30,013 (+96.9%), from €30,987 to €61,000
- Reserves +€18,841
up €18,841 (+5.7%), from €332,277 to €351,118
of which Distributable reserves: +€38,578
- Tax, wage and social debts +€14,753
up €14,753 (+74.5%), from €19,797 to €34,549
- Gross operating margin +€78,434
up €78,434 (+104.0%), from €75,436 to €153,870
- Taxes +€17,085
up €17,085 (+198.6%), from €8,604 to €25,689
- Financial charges +€10,214
up €10,214 (+97.7%), from €10,457 to €20,671
- Depreciation +€6,139
up €6,139 (+11.8%), from €51,829 to €57,968
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,023,146 | €1,311,444 | +€288,298 | +28.2% |
| Fixed assets | 21/28 | €911,430 | €1,007,563 | +€96,133 | +10.5% |
| Tangible fixed assets | 22/27 | €415,930 | €512,063 | +€96,133 | +23.1% |
| Land and buildings | 22 | €160,035 | €289,109 | +€129,074 | +80.7% |
| Plant, machinery and equipment | 23 | €255,895 | €222,954 | -€32,942 | -12.9% |
| Financial fixed assets | 28 | €495,500 | €495,500 | = | 0.0% |
| Current assets | 29/58 | €111,716 | €303,881 | +€192,165 | +172.0% |
| Amounts receivable within one year | 40/41 | €8,134 | €45,557 | +€37,423 | +460.1% |
| Trade receivables | 40 | €3,205 | €40,630 | +€37,425 | +1167.9% |
| Other amounts receivable | 41 | €4,929 | €4,927 | -€2 | 0.0% |
| Cash at bank and in hand | 54/58 | €91,841 | €230,064 | +€138,223 | +150.5% |
| Deferred charges and accrued income | 490/1 | €11,741 | €28,260 | +€16,519 | +140.7% |
| Total equity and liabilities | 10/49 | €1,023,146 | €1,311,444 | +€288,298 | +28.2% |
| Equity | 10/15 | €363,263 | €412,118 | +€48,854 | +13.4% |
| Contributions | 10/11 | €30,987 | €61,000 | +€30,013 | +96.9% |
| Capital | 10 | €30,987 | €61,000 | +€30,013 | +96.9% |
| Issued capital | 100 | €30,987 | €61,000 | +€30,013 | +96.9% |
| Reserves | 13 | €332,277 | €351,118 | +€18,841 | +5.7% |
| Non-distributable reserves | 130/1 | €3,757 | €3,757 | = | 0.0% |
| Legal reserve | 130 | €3,757 | €3,757 | = | 0.0% |
| Tax-exempt reserves | 132 | €88,805 | €69,068 | -€19,737 | -22.2% |
| Distributable reserves | 133 | €239,715 | €278,293 | +€38,578 | +16.1% |
| Provisions and deferred taxes | 16 | €116,727 | €106,564 | -€10,163 | -8.7% |
| Provisions for liabilities and charges | 160/5 | €71,000 | €71,000 | = | 0.0% |
| Major repairs and maintenance | 162 | €71,000 | €71,000 | = | 0.0% |
| Deferred taxes | 168 | €45,727 | €35,564 | -€10,163 | -22.2% |
| Amounts payable | 17/49 | €543,155 | €792,762 | +€249,607 | +46.0% |
| Amounts payable after more than one year | 17 | €268,998 | €326,151 | +€57,153 | +21.2% |
| Financial debts | 170/4 | €268,998 | €326,151 | +€57,153 | +21.2% |
| Amounts payable within one year | 42/48 | €195,932 | €211,951 | +€16,019 | +8.2% |
| Current portion of amounts payable after more than one year | 42 | €53,065 | €55,618 | +€2,553 | +4.8% |
| Trade debts | 44 | €52,454 | €63,296 | +€10,843 | +20.7% |
| Suppliers | 440/4 | €52,454 | €63,296 | +€10,843 | +20.7% |
| Taxes, remuneration and social security | 45 | €19,797 | €34,549 | +€14,753 | +74.5% |
| Taxes | 450/3 | €19,797 | €34,549 | +€14,753 | +74.5% |
| Other amounts payable | 47/48 | €70,617 | €58,487 | -€12,130 | -17.2% |
| Accrued charges and deferred income | 492/3 | €78,225 | €254,660 | +€176,435 | +225.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,829 | €57,968 | +€6,139 | +11.8% |
| Other operating charges | 640/8 | €11,141 | €11,583 | +€441 | +4.0% |
| Gross operating margin | 9900 | €75,436 | €153,870 | +€78,434 | +104.0% |
| Operating profit (loss) | 9901 | €12,466 | €84,319 | +€71,853 | +576.4% |
| Financial income | 75/76B | €10 | €732 | +€723 | +7472.4% |
| Recurring financial income | 75 | €10 | €732 | +€723 | +7472.4% |
| Financial charges | 65/66B | €10,457 | €20,671 | +€10,214 | +97.7% |
| Recurring financial charges | 65 | €10,457 | €20,671 | +€10,214 | +97.7% |
| Profit (loss) for the period before taxes | 9903 | €2,018 | €64,380 | +€62,362 | +3089.5% |
| Transfer from deferred taxes | 780 | €10,163 | €10,163 | = | 0.0% |
| Income taxes | 67/77 | €8,604 | €25,689 | +€17,085 | +198.6% |
| Profit (loss) for the period | 9904 | €3,578 | €48,854 | +€45,277 | +1265.6% |
| Transfer from tax-exempt reserves | 789 | €19,737 | €19,737 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €23,315 | €68,591 | +€45,277 | +194.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.