MARBEL: 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.
MARBEL
Largest movements
- Cash +€92,961
up €92,961 (+7.2%), from €1.3m to €1.4m
mainly Net result for the year (+€794,301) and Receivables within one year (+€60,955)
- Receivables within one year -€60,955
down €60,955 (-31.6%), from €192,706 to €131,751
of which Trade receivables: -€99,132
- Tangible fixed assets +€22,778
up €22,778 (+11.1%), from €204,603 to €227,381
of which Plant, machinery and equipment: +€12,727
- Profit (loss) carried forward +€294,301
up €294,301 (+48.7%), from €604,806 to €899,106
- Tax, wage and social debts -€123,626
down €123,626 (-67.7%), from €182,513 to €58,887
of which Remuneration and social security: -€75,372
- Trade debts -€76,506
down €76,506 (-21.6%), from €354,356 to €277,850
- Other debts -€37,428
down €37,428 (-6.5%), from €574,663 to €537,235
- Staff costs -€54,110
down €54,110 (-5.5%), from €977,813 to €923,703
- Gross operating margin +€42,724
up €42,724 (+2.1%), from €2.0m to €2.1m
- Taxes +€20,925
up €20,925 (+8.2%), from €255,771 to €276,696
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,764,079 | €1,820,818 | +€56,739 | +3.2% |
| Fixed assets | 21/28 | €279,343 | €302,272 | +€22,929 | +8.2% |
| Tangible fixed assets | 22/27 | €204,603 | €227,381 | +€22,778 | +11.1% |
| Land and buildings | 22 | €167,861 | €172,260 | +€4,399 | +2.6% |
| Plant, machinery and equipment | 23 | €35,024 | €47,751 | +€12,727 | +36.3% |
| Furniture and vehicles | 24 | €1,718 | €7,371 | +€5,652 | +329% |
| Financial fixed assets | 28 | €74,740 | €74,891 | +€152 | +0.2% |
| Current assets | 29/58 | €1,484,736 | €1,518,546 | +€33,810 | +2.3% |
| Amounts receivable within one year | 40/41 | €192,706 | €131,751 | -€60,955 | -31.6% |
| Trade receivables | 40 | €109,716 | €10,583 | -€99,132 | -90.4% |
| Other amounts receivable | 41 | €82,990 | €121,167 | +€38,177 | +46.0% |
| Cash at bank and in hand | 54/58 | €1,292,031 | €1,384,992 | +€92,961 | +7.2% |
| Deferred charges and accrued income | 490/1 | - | €1,804 | +€1,804 | |
| Total equity and liabilities | 10/49 | €1,764,079 | €1,820,818 | +€56,739 | +3.2% |
| Equity | 10/15 | €652,546 | €946,846 | +€294,301 | +45.1% |
| Contributions | 10/11 | €43,400 | €43,400 | = | 0.0% |
| Reserves | 13 | €4,340 | €4,340 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,340 | €0 | -€4,340 | -100% |
| Reserves not available under the articles | 1311 | €4,340 | €0 | -€4,340 | -100% |
| Distributable reserves | 133 | - | €4,340 | +€4,340 | |
| Profit (loss) carried forward | 14 | €604,806 | €899,106 | +€294,301 | +48.7% |
| Amounts payable | 17/49 | €1,111,534 | €873,972 | -€237,561 | -21.4% |
| Amounts payable within one year | 42/48 | €1,111,532 | €873,972 | -€237,560 | -21.4% |
| Current portion of amounts payable after more than one year | 42 | - | €0 | = | |
| Trade debts | 44 | €354,356 | €277,850 | -€76,506 | -21.6% |
| Suppliers | 440/4 | €354,356 | €277,850 | -€76,506 | -21.6% |
| Taxes, remuneration and social security | 45 | €182,513 | €58,887 | -€123,626 | -67.7% |
| Taxes | 450/3 | €48,254 | - | -€48,254 | |
| Remuneration and social security | 454/9 | €134,259 | €58,887 | -€75,372 | -56.1% |
| Other amounts payable | 47/48 | €574,663 | €537,235 | -€37,428 | -6.5% |
| Accrued charges and deferred income | 492/3 | €2 | €0 | -€2 | -100% |
| Remuneration, social security and pensions | 62 | €977,813 | €923,703 | -€54,110 | -5.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,677 | €42,701 | +€11,023 | +34.8% |
| Other operating charges | 640/8 | €7,255 | €14,558 | +€7,302 | +101% |
| Non-recurring operating charges | 66A | €19,000 | - | -€19,000 | |
| Gross operating margin | 9900 | €2,018,931 | €2,061,655 | +€42,724 | +2.1% |
| Operating profit (loss) | 9901 | €983,185 | €1,080,694 | +€97,509 | +9.9% |
| Financial income | 75/76B | €6,961 | €6,738 | -€223 | -3.2% |
| Recurring financial income | 75 | €6,961 | €6,738 | -€223 | -3.2% |
| Financial charges | 65/66B | €19,035 | €16,436 | -€2,599 | -13.7% |
| Recurring financial charges | 65 | €19,035 | €16,436 | -€2,599 | -13.7% |
| Profit (loss) for the period before taxes | 9903 | €971,111 | €1,070,996 | +€99,885 | +10.3% |
| Income taxes | 67/77 | €255,771 | €276,696 | +€20,925 | +8.2% |
| Profit (loss) for the period | 9904 | €715,341 | €794,301 | +€78,960 | +11.0% |
| Profit (loss) for the period to be appropriated | 9905 | €715,341 | €794,301 | +€78,960 | +11.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.