MARI-CHAUFFAGE: 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.
MARI-CHAUFFAGE
Largest movements
- Tangible fixed assets +€85,029
up €85,029 (+51.8%), from €164,237 to €249,266
of which Furniture and vehicles: +€110,243
- Cash +€27,471
up €27,471 (+206%), from €13,355 to €40,826
mainly Other debts (+€116,950) and Debts after one year (+€82,287)
- Receivables within one year +€11,082
up €11,082 (+20.0%), from €55,516 to €66,598
of which Trade receivables: +€14,812
- Stocks and contracts +€8,862
up €8,862 (+7.0%), from €127,082 to €135,944
of which Contracts in progress: +€6,551
- Other debts +€116,950
up €116,950 (+1,145%), from €10,218 to €127,168
- Debts after one year +€82,287
up €82,287 (+37.2%), from €221,370 to €303,657
- Profit (loss) carried forward -€46,258
down €46,258 (-127%), from -€36,507 to -€82,765
- Short-term financial debts -€33,251
no longer reported in 2025 (was €33,251)
- Current portion of long-term debt +€29,224
up €29,224 (+69.1%), from €42,281 to €71,505
- Gross operating margin -€64,906
down €64,906 (-38.3%), from €169,511 to €104,605
- Staff costs -€24,190
down €24,190 (-21.2%), from €114,217 to €90,026
- Depreciation +€10,571
up €10,571 (+38.4%), from €27,499 to €38,070
- Financial charges +€7,149
up €7,149 (+62.1%), from €11,515 to €18,664
- Taxes -€3,459
down €3,459 (-96.2%), from €3,595 to €135
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 | €367,580 | €498,118 | +€130,538 | +35.5% |
| Fixed assets | 21/28 | €164,287 | €249,316 | +€85,029 | +51.8% |
| Tangible fixed assets | 22/27 | €164,237 | €249,266 | +€85,029 | +51.8% |
| Land and buildings | 22 | €72,578 | €50,212 | -€22,367 | -30.8% |
| Plant, machinery and equipment | 23 | €25,280 | €22,433 | -€2,848 | -11.3% |
| Furniture and vehicles | 24 | €66,379 | €176,622 | +€110,243 | +166% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €203,293 | €248,802 | +€45,510 | +22.4% |
| Stocks and contracts in progress | 3 | €127,082 | €135,944 | +€8,862 | +7.0% |
| Stocks | 30/36 | €4,633 | €6,944 | +€2,311 | +49.9% |
| Contracts in progress | 37 | €122,449 | €129,000 | +€6,551 | +5.3% |
| Amounts receivable within one year | 40/41 | €55,516 | €66,598 | +€11,082 | +20.0% |
| Trade receivables | 40 | €36,823 | €51,635 | +€14,812 | +40.2% |
| Other amounts receivable | 41 | €18,693 | €14,963 | -€3,730 | -20.0% |
| Cash at bank and in hand | 54/58 | €13,355 | €40,826 | +€27,471 | +206% |
| Deferred charges and accrued income | 490/1 | €7,339 | €5,435 | -€1,905 | -26.0% |
| Total equity and liabilities | 10/49 | €367,580 | €498,118 | +€130,538 | +35.5% |
| Equity | 10/15 | €7,880 | -€38,379 | -€46,258 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €25,786 | €25,786 | = | 0.0% |
| Distributable reserves | 133 | €25,786 | €25,786 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€36,507 | -€82,765 | -€46,258 | -127% |
| Amounts payable | 17/49 | €359,701 | €536,497 | +€176,797 | +49.2% |
| Amounts payable after more than one year | 17 | €221,370 | €303,657 | +€82,287 | +37.2% |
| Financial debts | 170/4 | €221,370 | €303,657 | +€82,287 | +37.2% |
| Amounts payable within one year | 42/48 | €138,120 | €232,574 | +€94,454 | +68.4% |
| Current portion of amounts payable after more than one year | 42 | €42,281 | €71,505 | +€29,224 | +69.1% |
| Financial debts | 43 | €33,251 | - | -€33,251 | |
| Credit institutions | 430/8 | €33,251 | - | -€33,251 | |
| Trade debts | 44 | €46,276 | €26,934 | -€19,342 | -41.8% |
| Suppliers | 440/4 | €46,276 | €26,934 | -€19,342 | -41.8% |
| Taxes, remuneration and social security | 45 | €6,095 | €6,967 | +€873 | +14.3% |
| Taxes | 450/3 | €3,595 | €3,670 | +€75 | +2.1% |
| Remuneration and social security | 454/9 | €2,500 | €3,298 | +€798 | +31.9% |
| Other amounts payable | 47/48 | €10,218 | €127,168 | +€116,950 | +1,145% |
| Accrued charges and deferred income | 492/3 | €210 | €266 | +€56 | +26.8% |
| Remuneration, social security and pensions | 62 | €114,217 | €90,026 | -€24,190 | -21.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,499 | €38,070 | +€10,571 | +38.4% |
| Other operating charges | 640/8 | €6,093 | €4,210 | -€1,883 | -30.9% |
| Gross operating margin | 9900 | €169,511 | €104,605 | -€64,906 | -38.3% |
| Operating profit (loss) | 9901 | €21,702 | -€27,700 | -€49,403 | |
| Financial income | 75/76B | €393 | €241 | -€152 | -38.6% |
| Recurring financial income | 75 | €393 | €241 | -€152 | -38.6% |
| Financial charges | 65/66B | €11,515 | €18,664 | +€7,149 | +62.1% |
| Recurring financial charges | 65 | €11,515 | €18,664 | +€7,149 | +62.1% |
| Profit (loss) for the period before taxes | 9903 | €10,580 | -€46,123 | -€56,703 | |
| Income taxes | 67/77 | €3,595 | €135 | -€3,459 | -96.2% |
| Profit (loss) for the period | 9904 | €6,985 | -€46,258 | -€53,244 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,985 | -€46,258 | -€53,244 |
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 25 October 2026 via checked.be.