MARB-ORN: 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.
MARB-ORN
Largest movements
- Cash +€211,834
up €211,834 (+12,731%), from €1,664 to €213,498
mainly Net result for the year (+€296,033) and Investment in fixed assets (net) (+€202,326)
- Financial fixed assets -€203,600
no longer reported in 2025 (was €203,600)
- Receivables within one year +€135,528
up €135,528 (+57,525%), from €236 to €135,764
of which Trade receivables: +€135,700
- Profit (loss) carried forward +€296,033
up €296,033, from -€5,244 to €290,789
- Other debts -€204,733
down €204,733 (-99.6%), from €205,600 to €867
- Trade debts +€38,995
up €38,995 (+1,819%), from €2,143 to €41,138
- Tax, wage and social debts +€14,660
new in 2025: €14,660
- Gross operating margin +€316,424
up €316,424, from -€5,134 to €311,290
- Taxes +€14,723
up €14,723 (+21,033,414%), from €0 to €14,723
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 | €205,499 | €350,455 | +€144,955 | +70.5% |
| Fixed assets | 21/28 | €203,600 | €1,194 | -€202,406 | -99.4% |
| Tangible fixed assets | 22/27 | - | €1,194 | +€1,194 | |
| Plant, machinery and equipment | 23 | - | €1,194 | +€1,194 | |
| Financial fixed assets | 28 | €203,600 | - | -€203,600 | |
| Current assets | 29/58 | €1,899 | €349,261 | +€347,362 | +18,287% |
| Amounts receivable within one year | 40/41 | €236 | €135,764 | +€135,528 | +57,525% |
| Trade receivables | 40 | €0 | €135,700 | +€135,700 | |
| Other amounts receivable | 41 | €236 | €64 | -€172 | -72.9% |
| Cash at bank and in hand | 54/58 | €1,664 | €213,498 | +€211,834 | +12,731% |
| Total equity and liabilities | 10/49 | €205,499 | €350,455 | +€144,955 | +70.5% |
| Equity | 10/15 | -€2,244 | €293,789 | +€296,033 | |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,244 | €290,789 | +€296,033 | |
| Amounts payable | 17/49 | €207,743 | €56,666 | -€151,078 | -72.7% |
| Amounts payable within one year | 42/48 | €207,743 | €56,666 | -€151,078 | -72.7% |
| Trade debts | 44 | €2,143 | €41,138 | +€38,995 | +1,819% |
| Suppliers | 440/4 | €2,143 | €41,138 | +€38,995 | +1,819% |
| Taxes, remuneration and social security | 45 | - | €14,660 | +€14,660 | |
| Taxes | 450/3 | - | €14,660 | +€14,660 | |
| Other amounts payable | 47/48 | €205,600 | €867 | -€204,733 | -99.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €80 | +€80 | |
| Other operating charges | 640/8 | - | €551 | +€551 | |
| Gross operating margin | 9900 | -€5,134 | €311,290 | +€316,424 | |
| Operating profit (loss) | 9901 | -€5,134 | €310,659 | +€315,793 | |
| Financial income | 75/76B | €0 | €226 | +€226 | +107,486% |
| Recurring financial income | 75 | €0 | €226 | +€226 | +107,486% |
| Financial charges | 65/66B | €110 | €128 | +€18 | +16.6% |
| Recurring financial charges | 65 | €110 | €128 | +€18 | +16.6% |
| Profit (loss) for the period before taxes | 9903 | -€5,244 | €310,757 | +€316,001 | |
| Income taxes | 67/77 | €0 | €14,723 | +€14,723 | +21,033,414% |
| Profit (loss) for the period | 9904 | -€5,244 | €296,033 | +€301,277 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,244 | €296,033 | +€301,277 |
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.