MARIT: 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.
MARIT
Largest movements
- Stocks and contracts +€20,618
up €20,618 (+30.4%), from €67,742 to €88,360
- Cash +€19,871
up €19,871 (+1044.1%), from €1,903 to €21,774
mainly Net result for the year (+€27,448) and Receivables within one year (+€15,278)
- Receivables within one year -€15,278
down €15,278 (-98.2%), from €15,557 to €279
of which Trade receivables: -€14,516
- Profit (loss) carried forward +€27,448
up €27,448 (+55.0%), from -€49,868 to -€22,420
- Trade debts -€8,156
down €8,156 (-71.5%), from €11,410 to €3,254
- Other debts +€3,455
up €3,455 (+224.8%), from €1,536 to €4,991
- Gross operating margin +€26,434
up €26,434 (+453.8%), from €5,825 to €32,259
- Depreciation -€414
down €414 (-13.6%), from €3,045 to €2,632
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 | €188,746 | €212,372 | +€23,626 | +12.5% |
| Fixed assets | 21/28 | €101,466 | €99,805 | -€1,661 | -1.6% |
| Tangible fixed assets | 22/27 | €101,466 | €99,805 | -€1,661 | -1.6% |
| Land and buildings | 22 | €100,254 | €98,121 | -€2,133 | -2.1% |
| Plant, machinery and equipment | 23 | €1,212 | €870 | -€342 | -28.2% |
| Furniture and vehicles | 24 | - | €813 | +€813 | |
| Current assets | 29/58 | €87,280 | €112,567 | +€25,287 | +29.0% |
| Stocks and contracts in progress | 3 | €67,742 | €88,360 | +€20,618 | +30.4% |
| Stocks | 30/36 | €67,742 | €88,360 | +€20,618 | +30.4% |
| Amounts receivable within one year | 40/41 | €15,557 | €279 | -€15,278 | -98.2% |
| Trade receivables | 40 | €14,516 | €0 | -€14,516 | -100.0% |
| Other amounts receivable | 41 | €1,040 | €279 | -€762 | -73.2% |
| Cash at bank and in hand | 54/58 | €1,903 | €21,774 | +€19,871 | +1044.1% |
| Deferred charges and accrued income | 490/1 | €2,078 | €2,154 | +€76 | +3.6% |
| Total equity and liabilities | 10/49 | €188,746 | €212,372 | +€23,626 | +12.5% |
| Equity | 10/15 | €174,802 | €202,250 | +€27,448 | +15.7% |
| Contributions | 10/11 | €223,104 | €223,104 | = | 0.0% |
| Reserves | 13 | €1,566 | €1,566 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,566 | €1,566 | = | 0.0% |
| Other | 1319 | €1,566 | €1,566 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€49,868 | -€22,420 | +€27,448 | +55.0% |
| Amounts payable | 17/49 | €13,944 | €10,122 | -€3,822 | -27.4% |
| Amounts payable within one year | 42/48 | €13,944 | €10,122 | -€3,822 | -27.4% |
| Trade debts | 44 | €11,410 | €3,254 | -€8,156 | -71.5% |
| Suppliers | 440/4 | €11,410 | €3,254 | -€8,156 | -71.5% |
| Advances received on contracts in progress | 46 | - | €925 | +€925 | |
| Taxes, remuneration and social security | 45 | €997 | €952 | -€45 | -4.5% |
| Taxes | 450/3 | €747 | €702 | -€45 | -6.1% |
| Remuneration and social security | 454/9 | €250 | €250 | = | 0.0% |
| Other amounts payable | 47/48 | €1,536 | €4,991 | +€3,455 | +224.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,045 | €2,632 | -€414 | -13.6% |
| Other operating charges | 640/8 | €2,222 | €1,930 | -€292 | -13.1% |
| Gross operating margin | 9900 | €5,825 | €32,259 | +€26,434 | +453.8% |
| Operating profit (loss) | 9901 | €557 | €27,697 | +€27,140 | +4870.1% |
| Financial income | 75/76B | €10 | €15 | +€4 | +42.3% |
| Recurring financial income | 75 | €10 | €15 | +€4 | +42.3% |
| Financial charges | 65/66B | €54 | €54 | = | 0.0% |
| Recurring financial charges | 65 | €54 | €54 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €514 | €27,658 | +€27,144 | +5285.5% |
| Income taxes | 67/77 | €275 | €210 | -€65 | -23.7% |
| Profit (loss) for the period | 9904 | €238 | €27,448 | +€27,209 | +11409.0% |
| Profit (loss) for the period to be appropriated | 9905 | €238 | €27,448 | +€27,209 | +11409.0% |
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.