MARBAYA: 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.
MARBAYA
Largest movements
- Financial fixed assets -€28,125
down €28,125 (-6.5%), from €432,635 to €404,510
- Current assets +€20,448
up €20,448 (+50.0%), from €40,906 to €61,353
of which Receivables within one year: +€25,823
- Debts after one year -€9,083
down €9,083 (-2.8%), from €324,746 to €315,663
- Debts within one year -€8,151
down €8,151 (-19.3%), from €42,238 to €34,086
- Equity +€7,824
up €7,824 (+6.7%), from €117,473 to €125,297
of which Reserves: +€7,824
- Gross operating margin -€26,650
down €26,650 (-33.5%), from €79,645 to €52,996
- Taxes -€5,189
down €5,189 (-79.9%), from €6,496 to €1,306
From the 2019 result to the 2020 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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2019 | 2020 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €484,457 | €475,240 | -€9,217 | -1.9% |
| Fixed assets | 21/28 | €443,551 | €413,887 | -€29,664 | -6.7% |
| Tangible fixed assets | 22/27 | €10,916 | €9,377 | -€1,539 | -14.1% |
| Financial fixed assets | 28 | €432,635 | €404,510 | -€28,125 | -6.5% |
| Current assets | 29/58 | €40,906 | €61,353 | +€20,448 | +50.0% |
| Amounts receivable within one year | 40/41 | €7,527 | €33,350 | +€25,823 | +343.1% |
| Cash at bank and in hand | 54/58 | €29,682 | €23,753 | -€5,929 | -20.0% |
| Total equity and liabilities | 10/49 | €484,457 | €475,240 | -€9,217 | -1.9% |
| Equity | 10/15 | €117,473 | €125,297 | +€7,824 | +6.7% |
| Contributions | 10/11 | €6,200 | - | -€6,200 | |
| Reserves | 13 | €111,273 | €119,097 | +€7,824 | +7.0% |
| Amounts payable | 17/49 | €366,984 | €349,943 | -€17,041 | -4.6% |
| Amounts payable after more than one year | 17 | €324,746 | €315,663 | -€9,083 | -2.8% |
| Amounts payable within one year | 42/48 | €42,238 | €34,086 | -€8,151 | -19.3% |
| Trade debts | 44 | €987 | €7,215 | +€6,227 | +630.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,116 | €3,289 | +€173 | +5.5% |
| Gross operating margin | 9900 | €79,645 | €52,996 | -€26,650 | -33.5% |
| Operating profit (loss) | 9901 | €74,762 | €48,270 | -€26,493 | -35.4% |
| Recurring financial income | 75 | €10,355 | €14,278 | +€3,923 | +37.9% |
| Recurring financial charges | 65 | €65,896 | €53,417 | -€12,479 | -18.9% |
| Profit (loss) for the period before taxes | 9903 | €19,222 | €9,131 | -€10,091 | -52.5% |
| Income taxes | 67/77 | €6,496 | €1,306 | -€5,189 | -79.9% |
| Profit (loss) for the period | 9904 | €12,726 | €7,824 | -€4,902 | -38.5% |
| Profit (loss) for the period to be appropriated | 9905 | €22,026 | €7,824 | -€14,202 | -64.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2019 and 31 March 2020. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.