MARIBEN: 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.
MARIBEN
Largest movements
- Tangible fixed assets -€11,669
down €11,669 (-31.3%), from €37,312 to €25,643
of which Land and buildings: -€11,944
- Other debts -€59,935
down €59,935 (-41.3%), from €145,064 to €85,130
- Reserves +€55,593
up €55,593 (+7.5%), from €736,680 to €792,272
- Gross operating margin -€26,702
down €26,702 (-13.7%), from €194,872 to €168,171
- Taxes +€13,210
up €13,210 (+30.3%), from €43,566 to €56,776
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 | €971,808 | €963,402 | -€8,406 | -0.9% |
| Fixed assets | 21/28 | €37,312 | €25,643 | -€11,669 | -31.3% |
| Tangible fixed assets | 22/27 | €37,312 | €25,643 | -€11,669 | -31.3% |
| Land and buildings | 22 | €35,832 | €23,888 | -€11,944 | -33.3% |
| Furniture and vehicles | 24 | €1,479 | €1,754 | +€275 | +18.6% |
| Current assets | 29/58 | €934,496 | €937,759 | +€3,263 | +0.3% |
| Amounts receivable within one year | 40/41 | €103,213 | €110,167 | +€6,954 | +6.7% |
| Other amounts receivable | 41 | €103,213 | €110,167 | +€6,954 | +6.7% |
| Cash at bank and in hand | 54/58 | €824,898 | €821,522 | -€3,376 | -0.4% |
| Deferred charges and accrued income | 490/1 | €6,385 | €6,070 | -€315 | -4.9% |
| Total equity and liabilities | 10/49 | €971,808 | €963,402 | -€8,406 | -0.9% |
| Equity | 10/15 | €808,908 | €864,501 | +€55,593 | +6.9% |
| Contributions | 10/11 | €12,600 | €12,600 | = | 0.0% |
| Reserves | 13 | €736,680 | €792,272 | +€55,593 | +7.5% |
| Distributable reserves | 133 | €736,680 | €792,272 | +€55,593 | +7.5% |
| Profit (loss) carried forward | 14 | €59,628 | €59,628 | = | 0.0% |
| Amounts payable | 17/49 | €162,900 | €98,901 | -€63,998 | -39.3% |
| Amounts payable within one year | 42/48 | €162,900 | €98,461 | -€64,438 | -39.6% |
| Trade debts | 44 | €1,762 | €1,584 | -€178 | -10.1% |
| Suppliers | 440/4 | €1,762 | €1,584 | -€178 | -10.1% |
| Taxes, remuneration and social security | 45 | €16,073 | €11,747 | -€4,326 | -26.9% |
| Taxes | 450/3 | €16,073 | €11,747 | -€4,326 | -26.9% |
| Other amounts payable | 47/48 | €145,064 | €85,130 | -€59,935 | -41.3% |
| Accrued charges and deferred income | 492/3 | - | €440 | +€440 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,590 | €12,868 | +€278 | +2.2% |
| Other operating charges | 640/8 | €2,070 | €2,136 | +€66 | +3.2% |
| Gross operating margin | 9900 | €194,872 | €168,171 | -€26,702 | -13.7% |
| Operating profit (loss) | 9901 | €180,212 | €153,166 | -€27,046 | -15.0% |
| Financial income | 75/76B | €8,150 | €7,907 | -€243 | -3.0% |
| Recurring financial income | 75 | €8,150 | €7,907 | -€243 | -3.0% |
| Financial charges | 65/66B | €8,114 | €6,742 | -€1,372 | -16.9% |
| Recurring financial charges | 65 | €8,114 | €6,742 | -€1,372 | -16.9% |
| Profit (loss) for the period before taxes | 9903 | €180,248 | €154,332 | -€25,916 | -14.4% |
| Income taxes | 67/77 | €43,566 | €56,776 | +€13,210 | +30.3% |
| Profit (loss) for the period | 9904 | €136,682 | €97,555 | -€39,126 | -28.6% |
| Profit (loss) for the period to be appropriated | 9905 | €136,682 | €97,555 | -€39,126 | -28.6% |
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 30 September 2026 via checked.be.