MARINE TECHNICS: 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.
What changed
MARINE TECHNICS
NACE 33.150, Repair, maintenance and installation of machinery and equipment
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€122,292
2024 · €133,572-€11,280
Equity
€6.3m
2024 · €6.1m+€122,292
Cash
€3.1m
2024 · €5.5m-€2.3m
Balance sheet total
€8.6m
2024 · €8.4m+€204,054
Largest movements
Assets
- Cash -€2.3m
down €2.3m (-42.3%), from €5.5m to €3.1m
mainly Receivables after one year (-€1.5m) and Current investments (-€1.3m)
- Receivables after one year +€1.5m
new in 2025: €1.5m
- Current investments +€1.3m
new in 2025: €1.3m
- Receivables within one year -€618,407
down €618,407 (-43.7%), from €1.4m to €796,123
of which Other amounts receivable: -€1.0m
- Tangible fixed assets +€177,414
up €177,414 (+32.5%), from €546,285 to €723,699
of which Plant, machinery and equipment: +€159,230
Equity and liabilities
- Trade debts +€194,444
up €194,444 (+82.5%), from €235,605 to €430,049
- Profit (loss) carried forward +€137,963
up €137,963 (+6.4%), from €2.1m to €2.3m
Income statement
- Gross operating margin +€82,062
up €82,062 (+16.3%), from €504,410 to €586,472
- Staff costs +€73,518
up €73,518 (+23.5%), from €312,891 to €386,408
- Financial income -€52,385
down €52,385 (-48.6%), from €107,716 to €55,330
- Provisions -€52,100
down €52,100 (-69.5%), from €75,000 to €22,900
- Depreciation +€13,966
up €13,966 (+36.7%), from €38,075 to €52,041
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
€133,572
Gross operating margin
+€82,062
Staff costs
-€73,518
Depreciation
-€13,966
Write-downs
-€7,095
Provisions
+€52,100
Other operating charges
+€6,247
Financial income
-€52,385
Financial charges
-€597
Taxes
-€7,946
Deferred taxes and other
+€3,818
Result 2025
€122,292
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€737,448
Investment
-€1.5m
Financing
-€40,077
Cash 2024
€5.5m
From operations (derived)
-€737,448
Net result for the year
+€122,292
Depreciation
+€52,041
Receivables after one year
-€1.5m
Stocks and contracts
-€123,767
Receivables within one year
+€618,407
Deferred charges and accrued income
-€28,259
Provisions
+€17,677
Trade debts
+€194,444
Tax, wage and social debts
-€8,826
Advances received
-€9,856
Accrued charges and deferred income
-€71,600
Investment (derived)
-€1.5m
Investment in fixed assets (net)
-€229,455
Current investments
-€1.3m
Financing
-€40,077
Debts after one year
-€40,000
Current portion of long-term debt
-€77
Cash 2025
€3.1m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,408,082 | €8,612,136 | +€204,054 | +2.4% |
| Fixed assets | 21/28 | €547,385 | €724,799 | +€177,414 | +32.4% |
| Tangible fixed assets | 22/27 | €546,285 | €723,699 | +€177,414 | +32.5% |
| Land and buildings | 22 | €465,626 | €488,651 | +€23,026 | +4.9% |
| Plant, machinery and equipment | 23 | €68,614 | €227,844 | +€159,230 | +232% |
| Furniture and vehicles | 24 | €12,046 | €7,205 | -€4,841 | -40.2% |
| Financial fixed assets | 28 | €1,100 | €1,100 | = | 0.0% |
| Current assets | 29/58 | €7,860,697 | €7,887,337 | +€26,640 | +0.3% |
| Amounts receivable after more than one year | 29 | - | €1,500,000 | +€1.5m | |
| Other amounts receivable | 291 | - | €1,500,000 | +€1.5m | |
| Stocks and contracts in progress | 3 | €991,233 | €1,115,000 | +€123,767 | +12.5% |
| Stocks | 30/36 | €991,233 | €1,115,000 | +€123,767 | +12.5% |
| Amounts receivable within one year | 40/41 | €1,414,529 | €796,123 | -€618,407 | -43.7% |
| Trade receivables | 40 | €281,199 | €683,189 | +€401,990 | +143% |
| Other amounts receivable | 41 | €1,133,331 | €112,934 | -€1.0m | -90.0% |
| Current investments | 50/53 | - | €1,301,802 | +€1.3m | |
| Cash at bank and in hand | 54/58 | €5,454,934 | €3,146,153 | -€2.3m | -42.3% |
| Deferred charges and accrued income | 490/1 | - | €28,259 | +€28,259 | |
| Total equity and liabilities | 10/49 | €8,408,082 | €8,612,136 | +€204,054 | +2.4% |
| Equity | 10/15 | €6,132,770 | €6,255,063 | +€122,292 | +2.0% |
| Contributions | 10/11 | €235,500 | €235,500 | = | 0.0% |
| Capital | 10 | €235,500 | €235,500 | = | 0.0% |
| Issued capital | 100 | €235,500 | €235,500 | = | 0.0% |
| Reserves | 13 | €3,750,443 | €3,734,772 | -€15,670 | -0.4% |
| Non-distributable reserves | 130/1 | €23,550 | €2,720,570 | +€2.7m | +11,452% |
| Legal reserve | 130 | €23,550 | €23,550 | = | 0.0% |
| Own shares acquired | 1312 | - | €1,197,020 | +€1.2m | |
| Financial assistance | 1313 | - | €1,500,000 | +€1.5m | |
| Tax-exempt reserves | 132 | €2,926,395 | €213,705 | -€2.7m | -92.7% |
| Distributable reserves | 133 | €800,498 | €800,498 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,146,827 | €2,284,790 | +€137,963 | +6.4% |
| Provisions and deferred taxes | 16 | €1,172,965 | €1,190,642 | +€17,677 | +1.5% |
| Provisions for liabilities and charges | 160/5 | €197,500 | €220,400 | +€22,900 | +11.6% |
| Environmental obligations | 163 | €197,500 | €220,400 | +€22,900 | +11.6% |
| Deferred taxes | 168 | €975,465 | €970,242 | -€5,223 | -0.5% |
| Amounts payable | 17/49 | €1,102,347 | €1,166,432 | +€64,085 | +5.8% |
| Amounts payable after more than one year | 17 | €156,667 | €116,667 | -€40,000 | -25.5% |
| Financial debts | 170/4 | €156,667 | €116,667 | -€40,000 | -25.5% |
| Amounts payable within one year | 42/48 | €375,680 | €551,365 | +€175,685 | +46.8% |
| Current portion of amounts payable after more than one year | 42 | €50,233 | €50,155 | -€77 | -0.2% |
| Trade debts | 44 | €235,605 | €430,049 | +€194,444 | +82.5% |
| Suppliers | 440/4 | €235,605 | €430,049 | +€194,444 | +82.5% |
| Advances received on contracts in progress | 46 | €9,856 | - | -€9,856 | |
| Taxes, remuneration and social security | 45 | €79,987 | €71,161 | -€8,826 | -11.0% |
| Taxes | 450/3 | €37,791 | €21,931 | -€15,861 | -42.0% |
| Remuneration and social security | 454/9 | €42,195 | €49,230 | +€7,035 | +16.7% |
| Accrued charges and deferred income | 492/3 | €570,000 | €498,400 | -€71,600 | -12.6% |
| Remuneration, social security and pensions | 62 | €312,891 | €386,408 | +€73,518 | +23.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,075 | €52,041 | +€13,966 | +36.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€7,095 | - | +€7,095 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €75,000 | €22,900 | -€52,100 | -69.5% |
| Other operating charges | 640/8 | €11,146 | €4,899 | -€6,247 | -56.0% |
| Gross operating margin | 9900 | €504,410 | €586,472 | +€82,062 | +16.3% |
| Operating profit (loss) | 9901 | €74,393 | €120,224 | +€45,831 | +61.6% |
| Financial income | 75/76B | €107,716 | €55,330 | -€52,385 | -48.6% |
| Recurring financial income | 75 | €107,716 | €55,330 | -€52,385 | -48.6% |
| Financial charges | 65/66B | €9,555 | €10,152 | +€597 | +6.3% |
| Recurring financial charges | 65 | €9,555 | €10,152 | +€597 | +6.3% |
| Profit (loss) for the period before taxes | 9903 | €172,554 | €165,402 | -€7,152 | -4.1% |
| Transfer from deferred taxes | 780 | €1,406 | €5,223 | +€3,818 | +272% |
| Income taxes | 67/77 | €40,388 | €48,333 | +€7,946 | +19.7% |
| Profit (loss) for the period | 9904 | €133,572 | €122,292 | -€11,280 | -8.4% |
| Transfer from tax-exempt reserves | 789 | €4,217 | €15,670 | +€11,453 | +272% |
| Profit (loss) for the period to be appropriated | 9905 | €137,789 | €137,963 | +€173 | +0.1% |
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 20 October 2026 via checked.be.