CARL MARIEN: 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.
CARL MARIEN
Largest movements
- Current investments -€68,998
down €68,998 (-16.4%), from €420,643 to €351,645
- Tangible fixed assets -€56,933
down €56,933 (-16.9%), from €336,880 to €279,947
of which Land and buildings: -€34,959
- Cash +€23,175
up €23,175 (+14.5%), from €159,559 to €182,734
mainly Other debts (+€173,280) and Net result for the year (+€72,833)
- Reserves -€292,960
down €292,960 (-51.0%), from €574,863 to €281,903
- Other debts +€173,280
up €173,280 (+56.9%), from €304,694 to €477,974
- Tax, wage and social debts +€12,013
up €12,013 (+61.4%), from €19,567 to €31,579
of which Taxes: +€6,696
- Gross operating margin +€60,245
up €60,245 (+25.3%), from €238,501 to €298,746
- Taxes +€26,200
up €26,200 (+166.1%), from €15,772 to €41,972
- Staff costs -€14,017
down €14,017 (-11.8%), from €118,777 to €104,759
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 | €928,185 | €828,673 | -€99,512 | -10.7% |
| Fixed assets | 21/28 | €337,780 | €280,847 | -€56,933 | -16.9% |
| Tangible fixed assets | 22/27 | €336,880 | €279,947 | -€56,933 | -16.9% |
| Land and buildings | 22 | €291,330 | €256,371 | -€34,959 | -12.0% |
| Plant, machinery and equipment | 23 | €10,294 | €5,940 | -€4,354 | -42.3% |
| Furniture and vehicles | 24 | €35,256 | €17,636 | -€17,620 | -50.0% |
| Financial fixed assets | 28 | €900 | €900 | = | 0.0% |
| Current assets | 29/58 | €590,405 | €547,826 | -€42,579 | -7.2% |
| Amounts receivable within one year | 40/41 | €9,344 | €12,589 | +€3,245 | +34.7% |
| Trade receivables | 40 | €4,212 | €6,518 | +€2,306 | +54.7% |
| Other amounts receivable | 41 | €5,132 | €6,071 | +€939 | +18.3% |
| Current investments | 50/53 | €420,643 | €351,645 | -€68,998 | -16.4% |
| Cash at bank and in hand | 54/58 | €159,559 | €182,734 | +€23,175 | +14.5% |
| Deferred charges and accrued income | 490/1 | €858 | €858 | = | 0.0% |
| Total equity and liabilities | 10/49 | €928,185 | €828,673 | -€99,512 | -10.7% |
| Equity | 10/15 | €587,263 | €294,303 | -€292,960 | -49.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €574,863 | €281,903 | -€292,960 | -51.0% |
| Distributable reserves | 133 | €574,863 | €281,903 | -€292,960 | -51.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €340,922 | €534,370 | +€193,448 | +56.7% |
| Amounts payable within one year | 42/48 | €340,922 | €525,130 | +€184,208 | +54.0% |
| Financial debts | 43 | - | €44 | +€44 | |
| Credit institutions | 430/8 | - | €44 | +€44 | |
| Trade debts | 44 | €16,662 | €15,532 | -€1,129 | -6.8% |
| Suppliers | 440/4 | €16,662 | €15,532 | -€1,129 | -6.8% |
| Taxes, remuneration and social security | 45 | €19,567 | €31,579 | +€12,013 | +61.4% |
| Taxes | 450/3 | €7,615 | €14,312 | +€6,696 | +87.9% |
| Remuneration and social security | 454/9 | €11,951 | €17,268 | +€5,316 | +44.5% |
| Other amounts payable | 47/48 | €304,694 | €477,974 | +€173,280 | +56.9% |
| Accrued charges and deferred income | 492/3 | - | €9,240 | +€9,240 | |
| Remuneration, social security and pensions | 62 | €118,777 | €104,759 | -€14,017 | -11.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,704 | €58,350 | -€1,353 | -2.3% |
| Other operating charges | 640/8 | €12,065 | €12,680 | +€615 | +5.1% |
| Gross operating margin | 9900 | €238,501 | €298,746 | +€60,245 | +25.3% |
| Operating profit (loss) | 9901 | €47,956 | €122,956 | +€75,000 | +156.4% |
| Financial income | 75/76B | €3,988 | €3,580 | -€407 | -10.2% |
| Recurring financial income | 75 | €3,988 | €3,580 | -€407 | -10.2% |
| Financial charges | 65/66B | €13,795 | €11,731 | -€2,064 | -15.0% |
| Recurring financial charges | 65 | €13,795 | €11,731 | -€2,064 | -15.0% |
| Profit (loss) for the period before taxes | 9903 | €38,148 | €114,805 | +€76,657 | +200.9% |
| Income taxes | 67/77 | €15,772 | €41,972 | +€26,200 | +166.1% |
| Profit (loss) for the period | 9904 | €22,376 | €72,833 | +€50,457 | +225.5% |
| Profit (loss) for the period to be appropriated | 9905 | €22,376 | €72,833 | +€50,457 | +225.5% |
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.