DR. MARIEN: 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.
DR. MARIEN
Largest movements
- Cash -€282,118
down €282,118 (-89.6%), from €314,849 to €32,730
mainly Current investments (-€195,000) and Contributions, distributions and other (-€79,590)
- Current investments +€195,000
new in 2025: €195,000
- Tangible fixed assets -€23,599
down €23,599 (-9.9%), from €237,488 to €213,888
of which Furniture and vehicles: -€16,309
- Receivables within one year +€16,328
up €16,328 (+45.7%), from €35,766 to €52,094
of which Other amounts receivable: +€14,033
- Debts after one year -€73,636
no longer reported in 2025 (was €73,636)
- Reserves -€32,450
down €32,450 (-6.8%), from €474,537 to €442,087
of which Distributable reserves: -€32,450
- Other debts +€15,328
up €15,328 (+76.2%), from €20,103 to €35,431
- Financial charges +€40,911
up €40,911 (+1,108%), from €3,691 to €44,602
- Staff costs -€16,245
down €16,245 (-24.2%), from €67,053 to €50,808
- Gross operating margin -€15,025
down €15,025 (-6.5%), from €230,407 to €215,382
- Taxes -€12,174
down €12,174 (-36.7%), from €33,169 to €20,995
- Other operating charges +€3,660
up €3,660 (+292%), from €1,255 to €4,915
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 | €588,103 | €493,713 | -€94,390 | -16.0% |
| Fixed assets | 21/28 | €237,488 | €213,888 | -€23,599 | -9.9% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €237,488 | €213,888 | -€23,599 | -9.9% |
| Land and buildings | 22 | €166,499 | €158,173 | -€8,327 | -5.0% |
| Plant, machinery and equipment | 23 | €14,816 | €15,852 | +€1,036 | +7.0% |
| Furniture and vehicles | 24 | €56,173 | €39,864 | -€16,309 | -29.0% |
| Current assets | 29/58 | €350,615 | €279,824 | -€70,791 | -20.2% |
| Amounts receivable within one year | 40/41 | €35,766 | €52,094 | +€16,328 | +45.7% |
| Trade receivables | 40 | €8,189 | €10,483 | +€2,294 | +28.0% |
| Other amounts receivable | 41 | €27,578 | €41,611 | +€14,033 | +50.9% |
| Current investments | 50/53 | - | €195,000 | +€195,000 | |
| Cash at bank and in hand | 54/58 | €314,849 | €32,730 | -€282,118 | -89.6% |
| Total equity and liabilities | 10/49 | €588,103 | €493,713 | -€94,390 | -16.0% |
| Equity | 10/15 | €474,537 | €442,087 | -€32,450 | -6.8% |
| Reserves | 13 | €474,537 | €442,087 | -€32,450 | -6.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €472,677 | €440,227 | -€32,450 | -6.9% |
| Amounts payable | 17/49 | €113,565 | €51,625 | -€61,940 | -54.5% |
| Amounts payable after more than one year | 17 | €73,636 | - | -€73,636 | |
| Financial debts | 170/4 | €73,636 | - | -€73,636 | |
| Amounts payable within one year | 42/48 | €39,930 | €51,625 | +€11,695 | +29.3% |
| Trade debts | 44 | €1,777 | €1,334 | -€443 | -24.9% |
| Suppliers | 440/4 | €1,777 | €1,334 | -€443 | -24.9% |
| Taxes, remuneration and social security | 45 | €18,050 | €14,860 | -€3,190 | -17.7% |
| Taxes | 450/3 | €3,169 | - | -€3,169 | |
| Remuneration and social security | 454/9 | €14,881 | €14,860 | -€21 | -0.1% |
| Other amounts payable | 47/48 | €20,103 | €35,431 | +€15,328 | +76.2% |
| Remuneration, social security and pensions | 62 | €67,053 | €50,808 | -€16,245 | -24.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,926 | €41,639 | -€287 | -0.7% |
| Other operating charges | 640/8 | €1,255 | €4,915 | +€3,660 | +292% |
| Non-recurring operating charges | 66A | €1,452 | €5,282 | +€3,830 | +264% |
| Gross operating margin | 9900 | €230,407 | €215,382 | -€15,025 | -6.5% |
| Operating profit (loss) | 9901 | €118,720 | €112,737 | -€5,983 | -5.0% |
| Financial charges | 65/66B | €3,691 | €44,602 | +€40,911 | +1,108% |
| Recurring financial charges | 65 | €3,691 | €44,602 | +€40,911 | +1,108% |
| Profit (loss) for the period before taxes | 9903 | €115,029 | €68,135 | -€46,894 | -40.8% |
| Income taxes | 67/77 | €33,169 | €20,995 | -€12,174 | -36.7% |
| Profit (loss) for the period | 9904 | €81,860 | €47,140 | -€34,721 | -42.4% |
| Profit (loss) for the period to be appropriated | 9905 | €81,860 | €47,140 | -€34,721 | -42.4% |
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 14 October 2026 via checked.be.