MARIMA: 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.
What changed
MARIMA
NACE 61.200, Telecommunications resale and intermediation services
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€19,750
2024 · €74,020-€54,270
Equity
€643,185
2024 · €242,035+€401,150
Cash
€65,129
2024 · €52,170+€12,959
Balance sheet total
€2.9m
2024 · €2.8m+€120,958
Largest movements
Assets
- Tangible fixed assets +€105,007
up €105,007 (+4.0%), from €2.6m to €2.7m
of which Land and buildings: +€137,098
Equity and liabilities
- Contributions +€381,400
up €381,400 (+2050.5%), from €18,600 to €400,000
- Other debts -€326,948
down €326,948 (-33.8%), from €966,571 to €639,622
- Trade debts +€49,345
up €49,345 (+1178.0%), from €4,189 to €53,533
Income statement
- Gross operating margin -€81,178
down €81,178 (-20.9%), from €387,649 to €306,471
- Taxes -€24,131
down €24,131 (-52.8%), from €45,666 to €21,535
- Depreciation +€12,423
up €12,423 (+8.2%), from €151,677 to €164,101
- Financial charges -€11,299
down €11,299 (-10.4%), from €108,695 to €97,397
- Other operating charges -€3,901
down €3,901 (-49.3%), from €7,916 to €4,015
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.
Result 2024
€74,020
Gross operating margin
-€81,178
Depreciation
-€12,423
Other operating charges
+€3,901
Financial charges
+€11,299
Taxes
+€24,131
Result 2025
€19,750
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.
From operations
-€123,892
Investment
-€269,108
Financing
+€405,959
Cash 2024
€52,170
From operations (derived)
-€123,892
Net result for the year
+€19,750
Depreciation
+€164,101
Receivables within one year
-€8,228
Deferred charges and accrued income
+€5,236
Provisions
-€326
Trade debts
+€49,345
Tax, wage and social debts
-€15,885
Other debts
-€326,948
Accrued charges and deferred income
-€10,936
Investment (derived)
-€269,108
Investment in fixed assets (net)
-€269,108
Financing
+€405,959
Debts after one year
+€4,167
Current portion of long-term debt
+€20,392
Contributions, distributions and other
+€381,400
Cash 2025
€65,129
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,799,230 | €2,920,188 | +€120,958 | +4.3% |
| Fixed assets | 21/28 | €2,642,854 | €2,747,861 | +€105,007 | +4.0% |
| Tangible fixed assets | 22/27 | €2,642,854 | €2,747,861 | +€105,007 | +4.0% |
| Land and buildings | 22 | €2,569,863 | €2,706,960 | +€137,098 | +5.3% |
| Furniture and vehicles | 24 | €72,991 | €40,901 | -€32,091 | -44.0% |
| Current assets | 29/58 | €156,376 | €172,328 | +€15,951 | +10.2% |
| Amounts receivable within one year | 40/41 | €90,584 | €98,812 | +€8,228 | +9.1% |
| Trade receivables | 40 | €90,584 | €75,347 | -€15,237 | -16.8% |
| Other amounts receivable | 41 | €0 | €23,465 | +€23,465 | |
| Cash at bank and in hand | 54/58 | €52,170 | €65,129 | +€12,959 | +24.8% |
| Deferred charges and accrued income | 490/1 | €13,622 | €8,386 | -€5,236 | -38.4% |
| Total equity and liabilities | 10/49 | €2,799,230 | €2,920,188 | +€120,958 | +4.3% |
| Equity | 10/15 | €242,035 | €643,185 | +€401,150 | +165.7% |
| Contributions | 10/11 | €18,600 | €400,000 | +€381,400 | +2050.5% |
| Reserves | 13 | €340,752 | €360,502 | +€19,750 | +5.8% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €43,277 | €21,706 | -€21,571 | -49.8% |
| Distributable reserves | 133 | €297,475 | €338,796 | +€41,321 | +13.9% |
| Profit (loss) carried forward | 14 | -€117,317 | -€117,317 | = | 0.0% |
| Provisions and deferred taxes | 16 | €9,443 | €9,118 | -€326 | -3.4% |
| Deferred taxes | 168 | €9,443 | €9,118 | -€326 | -3.4% |
| Amounts payable | 17/49 | €2,547,752 | €2,267,886 | -€279,866 | -11.0% |
| Amounts payable after more than one year | 17 | €1,320,904 | €1,325,071 | +€4,167 | +0.3% |
| Financial debts | 170/4 | €1,320,904 | €1,325,071 | +€4,167 | +0.3% |
| Amounts payable within one year | 42/48 | €1,153,382 | €880,284 | -€273,097 | -23.7% |
| Current portion of amounts payable after more than one year | 42 | €143,162 | €163,554 | +€20,392 | +14.2% |
| Trade debts | 44 | €4,189 | €53,533 | +€49,345 | +1178.0% |
| Suppliers | 440/4 | €4,189 | €53,533 | +€49,345 | +1178.0% |
| Taxes, remuneration and social security | 45 | €39,460 | €23,575 | -€15,885 | -40.3% |
| Taxes | 450/3 | €39,460 | €23,575 | -€15,885 | -40.3% |
| Other amounts payable | 47/48 | €966,571 | €639,622 | -€326,948 | -33.8% |
| Accrued charges and deferred income | 492/3 | €73,467 | €62,530 | -€10,936 | -14.9% |
| Non-recurring operating income | 76A | €15,000 | €0 | -€15,000 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €151,677 | €164,101 | +€12,423 | +8.2% |
| Other operating charges | 640/8 | €7,916 | €4,015 | -€3,901 | -49.3% |
| Gross operating margin | 9900 | €387,649 | €306,471 | -€81,178 | -20.9% |
| Operating profit (loss) | 9901 | €228,055 | €138,356 | -€89,700 | -39.3% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €108,695 | €97,397 | -€11,299 | -10.4% |
| Recurring financial charges | 65 | €108,695 | €97,397 | -€11,299 | -10.4% |
| Profit (loss) for the period before taxes | 9903 | €119,360 | €40,959 | -€78,401 | -65.7% |
| Transfer from deferred taxes | 780 | €326 | €326 | = | 0.0% |
| Income taxes | 67/77 | €45,666 | €21,535 | -€24,131 | -52.8% |
| Profit (loss) for the period | 9904 | €74,020 | €19,750 | -€54,270 | -73.3% |
| Transfer from tax-exempt reserves | 789 | €775 | €21,571 | +€20,796 | +2682.7% |
| Profit (loss) for the period to be appropriated | 9905 | €74,795 | €41,321 | -€33,473 | -44.8% |
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 5 October 2026 via checked.be.