MARBIA: 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.
MARBIA
Largest movements
- Cash +€57,635
up €57,635 (+22.7%), from €254,278 to €311,913
mainly Depreciation (+€29,795) and Net result for the year (+€18,463)
- Tangible fixed assets -€25,463
down €25,463 (-4.6%), from €553,163 to €527,701
- Profit (loss) carried forward +€33,123
up €33,123 (+14.4%), from -€230,311 to -€197,188
- Reserves -€14,660
down €14,660 (-100%), from €14,660 to €0
- Other debts +€8,840
up €8,840 (+2.8%), from €315,726 to €324,566
- Gross operating margin +€5,680
up €5,680 (+9.0%), from €62,870 to €68,549
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 | €807,885 | €839,865 | +€31,981 | +4.0% |
| Fixed assets | 21/28 | €553,163 | €527,701 | -€25,463 | -4.6% |
| Tangible fixed assets | 22/27 | €553,163 | €527,701 | -€25,463 | -4.6% |
| Land and buildings | 22 | €553,163 | €527,701 | -€25,463 | -4.6% |
| Current assets | 29/58 | €254,721 | €312,165 | +€57,443 | +22.6% |
| Amounts receivable within one year | 40/41 | €443 | €251 | -€192 | -43.3% |
| Other amounts receivable | 41 | €443 | €251 | -€192 | -43.3% |
| Cash at bank and in hand | 54/58 | €254,278 | €311,913 | +€57,635 | +22.7% |
| Total equity and liabilities | 10/49 | €807,885 | €839,865 | +€31,981 | +4.0% |
| Equity | 10/15 | €480,764 | €499,227 | +€18,463 | +3.8% |
| Contributions | 10/11 | €696,415 | €696,415 | = | 0.0% |
| Reserves | 13 | €14,660 | €0 | -€14,660 | -100% |
| Distributable reserves | 133 | €14,660 | €0 | -€14,660 | -100% |
| Profit (loss) carried forward | 14 | -€230,311 | -€197,188 | +€33,123 | +14.4% |
| Amounts payable | 17/49 | €327,121 | €340,639 | +€13,518 | +4.1% |
| Amounts payable within one year | 42/48 | €327,121 | €340,639 | +€13,518 | +4.1% |
| Trade debts | 44 | €7,710 | €12,284 | +€4,574 | +59.3% |
| Suppliers | 440/4 | €7,710 | €12,284 | +€4,574 | +59.3% |
| Taxes, remuneration and social security | 45 | €3,686 | €3,789 | +€103 | +2.8% |
| Taxes | 450/3 | €3,686 | €3,789 | +€103 | +2.8% |
| Other amounts payable | 47/48 | €315,726 | €324,566 | +€8,840 | +2.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,199 | €29,795 | +€596 | +2.0% |
| Other operating charges | 640/8 | €8,938 | €8,300 | -€638 | -7.1% |
| Gross operating margin | 9900 | €62,870 | €68,549 | +€5,680 | +9.0% |
| Operating profit (loss) | 9901 | €24,733 | €30,454 | +€5,721 | +23.1% |
| Financial income | 75/76B | €1,518 | €846 | -€672 | -44.2% |
| Recurring financial income | 75 | €1,518 | €846 | -€672 | -44.2% |
| Financial charges | 65/66B | €12,596 | €12,838 | +€241 | +1.9% |
| Recurring financial charges | 65 | €12,596 | €12,838 | +€241 | +1.9% |
| Profit (loss) for the period before taxes | 9903 | €13,655 | €18,463 | +€4,808 | +35.2% |
| Profit (loss) for the period | 9904 | €13,655 | €18,463 | +€4,808 | +35.2% |
| Profit (loss) for the period to be appropriated | 9905 | €13,655 | €18,463 | +€4,808 | +35.2% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.