MARMAT: 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
MARMAT
NACE 47.713, Retail trade
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€230,863
2024 · €224,464+€6,398
Equity
€2.4m
2024 · €2.2m+€182,493
Cash
€2
2024 · €5-€3
Balance sheet total
€2.7m
2024 · €2.5m+€206,218
Largest movements
Assets
- Receivables within one year +€218,117
up €218,117 (+33.9%), from €643,055 to €861,173
of which Other amounts receivable: +€236,782
Equity and liabilities
- Reserves +€182,493
up €182,493 (+8.7%), from €2.1m to €2.3m
of which Distributable reserves: +€182,493
- Tax, wage and social debts +€94,639
up €94,639 (+1366.4%), from €6,926 to €101,566
of which Taxes: +€94,639
- Debts after one year -€32,144
down €32,144 (-27.5%), from €116,694 to €84,550
- Current portion of long-term debt -€27,344
down €27,344 (-26.5%), from €103,064 to €75,720
Income statement
- Financial income +€35,188
up €35,188 (+32.3%), from €108,887 to €144,075
- Taxes +€33,991
up €33,991 (+34.2%), from €99,376 to €133,367
- Gross operating margin +€4,128
up €4,128 (+1.7%), from €241,245 to €245,373
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
€224,464
Gross operating margin
+€4,128
Depreciation
-€50
Other operating charges
-€583
Financial income
+€35,188
Financial charges
+€1,706
Taxes
-€33,991
Result 2025
€230,863
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
+€97,587
Investment
-€4,765
Financing
-€92,825
Cash 2024
€5
From operations (derived)
+€97,587
Net result for the year
+€230,863
Depreciation
+€15,462
Receivables within one year
-€218,117
Deferred charges and accrued income
+€1,199
Trade debts
-€4,678
Tax, wage and social debts
+€94,639
Advances received
-€21,780
Investment (derived)
-€4,765
Current investments
-€4,765
Financing
-€92,825
Debts after one year
-€32,144
Current portion of long-term debt
-€27,344
Short-term financial debts
+€15,032
Contributions, distributions and other
-€48,370
Cash 2025
€2
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,500,376 | €2,706,595 | +€206,218 | +8.2% |
| Fixed assets | 21/28 | €270,409 | €254,947 | -€15,462 | -5.7% |
| Tangible fixed assets | 22/27 | €73,755 | €58,292 | -€15,462 | -21.0% |
| Furniture and vehicles | 24 | €31,105 | €27,055 | -€4,050 | -13.0% |
| Leasing and similar rights | 25 | €14,216 | €6,685 | -€7,531 | -53.0% |
| Other tangible fixed assets | 26 | €28,434 | €24,553 | -€3,881 | -13.6% |
| Financial fixed assets | 28 | €196,655 | €196,655 | = | 0.0% |
| Current assets | 29/58 | €2,229,967 | €2,451,647 | +€221,680 | +9.9% |
| Amounts receivable after more than one year | 29 | €188,775 | €188,775 | = | 0.0% |
| Other amounts receivable | 291 | €188,775 | €188,775 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €643,055 | €861,173 | +€218,117 | +33.9% |
| Trade receivables | 40 | €20,156 | €1,491 | -€18,665 | -92.6% |
| Other amounts receivable | 41 | €622,900 | €859,681 | +€236,782 | +38.0% |
| Current investments | 50/53 | €1,394,452 | €1,399,217 | +€4,765 | +0.3% |
| Cash at bank and in hand | 54/58 | €5 | €2 | -€3 | -60.1% |
| Deferred charges and accrued income | 490/1 | €3,679 | €2,480 | -€1,199 | -32.6% |
| Total equity and liabilities | 10/49 | €2,500,376 | €2,706,595 | +€206,218 | +8.2% |
| Equity | 10/15 | €2,237,403 | €2,419,896 | +€182,493 | +8.2% |
| Contributions | 10/11 | €14,725 | €14,725 | = | 0.0% |
| Reserves | 13 | €2,103,132 | €2,285,625 | +€182,493 | +8.7% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,092 | €1,092 | = | 0.0% |
| Distributable reserves | 133 | €2,100,181 | €2,282,674 | +€182,493 | +8.7% |
| Profit (loss) carried forward | 14 | €119,546 | €119,546 | = | 0.0% |
| Amounts payable | 17/49 | €262,974 | €286,699 | +€23,725 | +9.0% |
| Amounts payable after more than one year | 17 | €116,694 | €84,550 | -€32,144 | -27.5% |
| Financial debts | 170/4 | €116,694 | €84,550 | -€32,144 | -27.5% |
| Amounts payable within one year | 42/48 | €146,279 | €202,149 | +€55,869 | +38.2% |
| Current portion of amounts payable after more than one year | 42 | €103,064 | €75,720 | -€27,344 | -26.5% |
| Financial debts | 43 | €3,442 | €18,474 | +€15,032 | +436.7% |
| Credit institutions | 430/8 | €3,442 | €18,474 | +€15,032 | +436.7% |
| Trade debts | 44 | €11,067 | €6,389 | -€4,678 | -42.3% |
| Suppliers | 440/4 | €11,067 | €6,389 | -€4,678 | -42.3% |
| Advances received on contracts in progress | 46 | €21,780 | - | -€21,780 | |
| Taxes, remuneration and social security | 45 | €6,926 | €101,566 | +€94,639 | +1366.4% |
| Taxes | 450/3 | €4,576 | €99,216 | +€94,639 | +2068.0% |
| Remuneration and social security | 454/9 | €2,350 | €2,350 | = | 0.0% |
| Non-recurring operating income | 76A | €2,328 | - | -€2,328 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,412 | €15,462 | +€50 | +0.3% |
| Other operating charges | 640/8 | €526 | €1,109 | +€583 | +110.8% |
| Gross operating margin | 9900 | €241,245 | €245,373 | +€4,128 | +1.7% |
| Operating profit (loss) | 9901 | €225,307 | €228,802 | +€3,495 | +1.6% |
| Financial income | 75/76B | €108,887 | €144,075 | +€35,188 | +32.3% |
| Recurring financial income | 75 | €108,887 | €144,075 | +€35,188 | +32.3% |
| Financial charges | 65/66B | €10,354 | €8,648 | -€1,706 | -16.5% |
| Recurring financial charges | 65 | €10,354 | €7,813 | -€2,541 | -24.5% |
| Non-recurring financial charges | 66B | - | €835 | +€835 | |
| Profit (loss) for the period before taxes | 9903 | €323,840 | €364,229 | +€40,389 | +12.5% |
| Income taxes | 67/77 | €99,376 | €133,367 | +€33,991 | +34.2% |
| Profit (loss) for the period | 9904 | €224,464 | €230,863 | +€6,398 | +2.9% |
| Profit (loss) for the period to be appropriated | 9905 | €224,464 | €230,863 | +€6,398 | +2.9% |
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 7 October 2026 via checked.be.