MARS: 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.
MARS
Largest movements
- Tangible fixed assets -€33,999
down €33,999 (-62.4%), from €54,479 to €20,480
of which Furniture and vehicles: -€32,971
- Cash +€7,058
up €7,058 (+137%), from €5,135 to €12,193
mainly Investment in fixed assets (net) (+€27,993) and Depreciation (+€6,006)
- Receivables within one year -€4,723
no longer reported in 2025 (was €4,723)
- Profit (loss) carried forward -€13,142
down €13,142 (-141%), from -€9,345 to -€22,487
- Other debts -€11,315
down €11,315 (-52.0%), from €21,754 to €10,439
- Short-term financial debts -€10,000
down €10,000 (-26.5%), from €37,700 to €27,700
- Tax, wage and social debts +€3,894
up €3,894 (+2,791%), from €140 to €4,033
of which Remuneration and social security: +€2,622
- Staff costs +€5,364
new in 2025: €5,364
- Gross operating margin -€2,110
down €2,110 (-16.9%), from €12,484 to €10,375
- Other operating charges -€1,699
down €1,699 (-51.0%), from €3,332 to €1,633
- Depreciation +€1,608
up €1,608 (+36.6%), from €4,398 to €6,006
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 | €65,846 | €34,098 | -€31,748 | -48.2% |
| Fixed assets | 21/28 | €54,479 | €20,480 | -€33,999 | -62.4% |
| Tangible fixed assets | 22/27 | €54,479 | €20,480 | -€33,999 | -62.4% |
| Plant, machinery and equipment | 23 | €4,103 | €3,075 | -€1,028 | -25.0% |
| Furniture and vehicles | 24 | €50,375 | €17,404 | -€32,971 | -65.5% |
| Current assets | 29/58 | €11,367 | €13,618 | +€2,251 | +19.8% |
| Amounts receivable within one year | 40/41 | €4,723 | - | -€4,723 | |
| Other amounts receivable | 41 | €4,723 | - | -€4,723 | |
| Cash at bank and in hand | 54/58 | €5,135 | €12,193 | +€7,058 | +137% |
| Deferred charges and accrued income | 490/1 | €1,510 | €1,426 | -€84 | -5.6% |
| Total equity and liabilities | 10/49 | €65,846 | €34,098 | -€31,748 | -48.2% |
| Equity | 10/15 | €655 | -€12,487 | -€13,142 | |
| Reserves | 13 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€9,345 | -€22,487 | -€13,142 | -141% |
| Amounts payable | 17/49 | €65,191 | €46,585 | -€18,606 | -28.5% |
| Amounts payable within one year | 42/48 | €62,800 | €44,779 | -€18,021 | -28.7% |
| Financial debts | 43 | €37,700 | €27,700 | -€10,000 | -26.5% |
| Other loans | 439 | €37,700 | €27,700 | -€10,000 | -26.5% |
| Trade debts | 44 | €3,207 | €2,607 | -€600 | -18.7% |
| Suppliers | 440/4 | €3,207 | €2,607 | -€600 | -18.7% |
| Taxes, remuneration and social security | 45 | €140 | €4,033 | +€3,894 | +2,791% |
| Taxes | 450/3 | €140 | €1,411 | +€1,272 | +912% |
| Remuneration and social security | 454/9 | - | €2,622 | +€2,622 | |
| Other amounts payable | 47/48 | €21,754 | €10,439 | -€11,315 | -52.0% |
| Accrued charges and deferred income | 492/3 | €2,391 | €1,806 | -€585 | -24.5% |
| Non-recurring operating income | 76A | €662 | - | -€662 | |
| Remuneration, social security and pensions | 62 | - | €5,364 | +€5,364 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,398 | €6,006 | +€1,608 | +36.6% |
| Other operating charges | 640/8 | €3,332 | €1,633 | -€1,699 | -51.0% |
| Non-recurring operating charges | 66A | - | €10,184 | +€10,184 | |
| Gross operating margin | 9900 | €12,484 | €10,375 | -€2,110 | -16.9% |
| Operating profit (loss) | 9901 | €4,755 | -€12,813 | -€17,567 | |
| Financial charges | 65/66B | €111 | €192 | +€81 | +72.4% |
| Recurring financial charges | 65 | €111 | €192 | +€81 | +72.4% |
| Profit (loss) for the period before taxes | 9903 | €4,643 | -€13,005 | -€17,648 | |
| Income taxes | 67/77 | €140 | €137 | -€3 | -2.1% |
| Profit (loss) for the period | 9904 | €4,504 | -€13,142 | -€17,645 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,504 | -€13,142 | -€17,645 |
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 16 October 2026 via checked.be.