MARB: 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.
MARB
Largest movements
- Cash +€9,219
up €9,219 (+48.0%), from €19,213 to €28,432
mainly Net result for the year (+€10,587) and Other debts (+€818)
- Tangible fixed assets +€1,441
new in 2025: €1,441
- Reserves +€10,587
up €10,587 (+31.4%), from €33,712 to €44,299
- Other debts +€818
up €818 (+34.3%), from €2,387 to €3,206
- Gross operating margin -€30,089
down €30,089 (-62.7%), from €48,009 to €17,920
- Taxes -€6,963
down €6,963 (-65.0%), from €10,720 to €3,757
- Financial charges +€1,214
up €1,214 (+81.4%), from €1,492 to €2,707
- Depreciation -€798
down €798 (-90.3%), from €884 to €86
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 | €47,173 | €58,296 | +€11,123 | +23.6% |
| Fixed assets | 21/28 | €15,000 | €16,441 | +€1,441 | +9.6% |
| Tangible fixed assets | 22/27 | - | €1,441 | +€1,441 | |
| Furniture and vehicles | 24 | - | €1,441 | +€1,441 | |
| Financial fixed assets | 28 | €15,000 | €15,000 | = | 0.0% |
| Current assets | 29/58 | €32,173 | €41,855 | +€9,682 | +30.1% |
| Amounts receivable within one year | 40/41 | €12,960 | €13,423 | +€463 | +3.6% |
| Trade receivables | 40 | €9,680 | €9,680 | = | 0.0% |
| Other amounts receivable | 41 | €3,280 | €3,743 | +€463 | +14.1% |
| Cash at bank and in hand | 54/58 | €19,213 | €28,432 | +€9,219 | +48.0% |
| Total equity and liabilities | 10/49 | €47,173 | €58,296 | +€11,123 | +23.6% |
| Equity | 10/15 | €38,712 | €49,299 | +€10,587 | +27.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €33,712 | €44,299 | +€10,587 | +31.4% |
| Distributable reserves | 133 | €33,712 | €44,299 | +€10,587 | +31.4% |
| Amounts payable | 17/49 | €8,461 | €8,997 | +€536 | +6.3% |
| Amounts payable within one year | 42/48 | €8,276 | €8,852 | +€576 | +7.0% |
| Trade debts | 44 | €1,366 | €1,217 | -€150 | -10.9% |
| Suppliers | 440/4 | €1,366 | €1,217 | -€150 | -10.9% |
| Taxes, remuneration and social security | 45 | €4,523 | €4,430 | -€93 | -2.0% |
| Taxes | 450/3 | €4,523 | €4,430 | -€93 | -2.0% |
| Other amounts payable | 47/48 | €2,387 | €3,206 | +€818 | +34.3% |
| Accrued charges and deferred income | 492/3 | €185 | €144 | -€41 | -22.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €884 | €86 | -€798 | -90.3% |
| Other operating charges | 640/8 | €1,204 | €784 | -€420 | -34.9% |
| Gross operating margin | 9900 | €48,009 | €17,920 | -€30,089 | -62.7% |
| Operating profit (loss) | 9901 | €45,922 | €17,051 | -€28,871 | -62.9% |
| Financial income | 75/76B | €3 | €0 | -€3 | -100.0% |
| Recurring financial income | 75 | €3 | €0 | -€3 | -100.0% |
| Financial charges | 65/66B | €1,492 | €2,707 | +€1,214 | +81.4% |
| Recurring financial charges | 65 | €1,492 | €2,707 | +€1,214 | +81.4% |
| Profit (loss) for the period before taxes | 9903 | €44,432 | €14,344 | -€30,088 | -67.7% |
| Income taxes | 67/77 | €10,720 | €3,757 | -€6,963 | -65.0% |
| Profit (loss) for the period | 9904 | €33,712 | €10,587 | -€23,126 | -68.6% |
| Profit (loss) for the period to be appropriated | 9905 | €33,712 | €10,587 | -€23,126 | -68.6% |
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 28 September 2026 via checked.be.