MARIE-ART: 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.
MARIE-ART
Largest movements
- Tangible fixed assets -€462,422
down €462,422 (-30.5%), from €1.5m to €1.1m
of which Land and buildings: -€473,039
- Stocks and contracts +€73,769
new in 2025: €73,769
- Debts after one year -€410,398
down €410,398 (-32.3%), from €1.3m to €858,689
- Reserves +€51,512
up €51,512 (+132%), from €38,904 to €90,416
- Short-term financial debts +€22,719
new in 2025: €22,719
- Trade debts -€18,739
down €18,739 (-33.5%), from €55,996 to €37,257
- Gross operating margin +€40,439
up €40,439 (+32.9%), from €122,749 to €163,188
- Taxes +€13,897
up €13,897 (+301%), from €4,613 to €18,511
- Depreciation -€7,140
down €7,140 (-11.3%), from €63,372 to €56,232
- Financial charges -€2,011
down €2,011 (-7.5%), from €26,732 to €24,720
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 | €1,519,723 | €1,147,475 | -€372,248 | -24.5% |
| Fixed assets | 21/28 | €1,514,076 | €1,051,654 | -€462,422 | -30.5% |
| Tangible fixed assets | 22/27 | €1,514,076 | €1,051,654 | -€462,422 | -30.5% |
| Land and buildings | 22 | €1,468,519 | €995,480 | -€473,039 | -32.2% |
| Other tangible fixed assets | 26 | €45,557 | €56,173 | +€10,617 | +23.3% |
| Current assets | 29/58 | €5,648 | €95,822 | +€90,174 | +1,597% |
| Stocks and contracts in progress | 3 | - | €73,769 | +€73,769 | |
| Stocks | 30/36 | - | €73,769 | +€73,769 | |
| Amounts receivable within one year | 40/41 | €5,526 | €12,399 | +€6,872 | +124% |
| Other amounts receivable | 41 | €5,526 | €12,399 | +€6,872 | +124% |
| Cash at bank and in hand | 54/58 | €7 | €9,654 | +€9,646 | +129,135% |
| Deferred charges and accrued income | 490/1 | €114 | - | -€114 | |
| Total equity and liabilities | 10/49 | €1,519,723 | €1,147,475 | -€372,248 | -24.5% |
| Equity | 10/15 | €73,904 | €125,416 | +€51,512 | +69.7% |
| Contributions | 10/11 | €35,000 | €35,000 | = | 0.0% |
| Reserves | 13 | €38,904 | €90,416 | +€51,512 | +132% |
| Distributable reserves | 133 | €38,904 | €90,416 | +€51,512 | +132% |
| Amounts payable | 17/49 | €1,445,819 | €1,022,059 | -€423,760 | -29.3% |
| Amounts payable after more than one year | 17 | €1,269,087 | €858,689 | -€410,398 | -32.3% |
| Financial debts | 170/4 | €1,269,087 | €858,689 | -€410,398 | -32.3% |
| Amounts payable within one year | 42/48 | €175,795 | €163,277 | -€12,518 | -7.1% |
| Current portion of amounts payable after more than one year | 42 | €98,453 | €84,614 | -€13,839 | -14.1% |
| Financial debts | 43 | - | €22,719 | +€22,719 | |
| Credit institutions | 430/8 | - | €22,719 | +€22,719 | |
| Trade debts | 44 | €55,996 | €37,257 | -€18,739 | -33.5% |
| Suppliers | 440/4 | €55,996 | €37,257 | -€18,739 | -33.5% |
| Taxes, remuneration and social security | 45 | €21,346 | €18,687 | -€2,658 | -12.5% |
| Taxes | 450/3 | €21,346 | €18,687 | -€2,658 | -12.5% |
| Accrued charges and deferred income | 492/3 | €937 | €93 | -€844 | -90.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,372 | €56,232 | -€7,140 | -11.3% |
| Other operating charges | 640/8 | €12,044 | €12,213 | +€169 | +1.4% |
| Gross operating margin | 9900 | €122,749 | €163,188 | +€40,439 | +32.9% |
| Operating profit (loss) | 9901 | €47,333 | €94,743 | +€47,410 | +100% |
| Financial income | 75/76B | €742 | - | -€742 | |
| Recurring financial income | 75 | €742 | - | -€742 | |
| Financial charges | 65/66B | €26,732 | €24,720 | -€2,011 | -7.5% |
| Recurring financial charges | 65 | €26,732 | €24,720 | -€2,011 | -7.5% |
| Profit (loss) for the period before taxes | 9903 | €21,343 | €70,023 | +€48,680 | +228% |
| Income taxes | 67/77 | €4,613 | €18,511 | +€13,897 | +301% |
| Profit (loss) for the period | 9904 | €16,730 | €51,512 | +€34,782 | +208% |
| Profit (loss) for the period to be appropriated | 9905 | €16,730 | €51,512 | +€34,782 | +208% |
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 30 October 2026 via checked.be.