MARITHE: 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.
MARITHE
Largest movements
- Stocks and contracts +€9,550
up €9,550 (+233%), from €4,100 to €13,650
- Cash +€9,507
up €9,507 (+688%), from €1,383 to €10,890
mainly Other debts (+€17,812) and Trade debts (+€14,292)
- Deferred charges and accrued income +€1,244
new in 2025: €1,244
- Receivables within one year -€352
down €352 (-30.4%), from €1,156 to €804
of which Other amounts receivable: -€352
- Other debts +€17,812
up €17,812 (+88.9%), from €20,034 to €37,846
- Trade debts +€14,292
up €14,292 (+129%), from €11,118 to €25,410
- Profit (loss) carried forward -€12,529
down €12,529 (-35.5%), from -€35,261 to -€47,789
- Tax, wage and social debts +€1,121
new in 2025: €1,121
- Debts after one year -€747
no longer reported in 2025 (was €747)
- Write-downs +€4,100
new in 2025: €4,100
- Gross operating margin -€3,756
down €3,756 (-117%), from -€3,216 to -€6,972
- Other operating charges +€1,257
up €1,257 (+2,514%), from €50 to €1,307
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 | €6,639 | €26,588 | +€19,950 | +301% |
| Current assets | 29/58 | €6,639 | €26,588 | +€19,950 | +301% |
| Stocks and contracts in progress | 3 | €4,100 | €13,650 | +€9,550 | +233% |
| Stocks | 30/36 | €4,100 | €13,650 | +€9,550 | +233% |
| Amounts receivable within one year | 40/41 | €1,156 | €804 | -€352 | -30.4% |
| Trade receivables | 40 | €804 | €804 | = | 0.0% |
| Other amounts receivable | 41 | €352 | - | -€352 | |
| Cash at bank and in hand | 54/58 | €1,383 | €10,890 | +€9,507 | +688% |
| Deferred charges and accrued income | 490/1 | - | €1,244 | +€1,244 | |
| Total equity and liabilities | 10/49 | €6,639 | €26,588 | +€19,950 | +301% |
| Equity | 10/15 | -€25,261 | -€37,789 | -€12,529 | -49.6% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Capital | 10 | €10,000 | €10,000 | = | 0.0% |
| Issued capital | 100 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€35,261 | -€47,789 | -€12,529 | -35.5% |
| Amounts payable | 17/49 | €31,899 | €64,377 | +€32,478 | +102% |
| Amounts payable after more than one year | 17 | €747 | - | -€747 | |
| Financial debts | 170/4 | €747 | - | -€747 | |
| Amounts payable within one year | 42/48 | €31,152 | €64,377 | +€33,225 | +107% |
| Trade debts | 44 | €11,118 | €25,410 | +€14,292 | +129% |
| Suppliers | 440/4 | €11,118 | €25,410 | +€14,292 | +129% |
| Taxes, remuneration and social security | 45 | - | €1,121 | +€1,121 | |
| Taxes | 450/3 | - | €1,121 | +€1,121 | |
| Other amounts payable | 47/48 | €20,034 | €37,846 | +€17,812 | +88.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €4,100 | +€4,100 | |
| Other operating charges | 640/8 | €50 | €1,307 | +€1,257 | +2,514% |
| Gross operating margin | 9900 | -€3,216 | -€6,972 | -€3,756 | -117% |
| Operating profit (loss) | 9901 | -€3,266 | -€12,379 | -€9,113 | -279% |
| Financial charges | 65/66B | €211 | €150 | -€61 | -29.0% |
| Recurring financial charges | 65 | €211 | €150 | -€61 | -29.0% |
| Profit (loss) for the period before taxes | 9903 | -€3,477 | -€12,529 | -€9,052 | -260% |
| Profit (loss) for the period | 9904 | -€3,477 | -€12,529 | -€9,052 | -260% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,477 | -€12,529 | -€9,052 | -260% |
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 29 October 2026 via checked.be.