MARBIM: 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.
MARBIM
Largest movements
- Tangible fixed assets -€38,237
down €38,237 (-5.3%), from €727,142 to €688,905
of which Land and buildings: -€33,670
- Profit (loss) carried forward -€39,226
down €39,226 (-6.2%), from -€634,838 to -€674,064
- Other operating charges +€3,501
up €3,501 (+125.2%), from €2,797 to €6,298
- Gross operating margin -€997
down €997 (-15.7%), from €6,336 to €5,339
- Depreciation -€76
down €76 (-0.2%), from €38,313 to €38,237
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 | €742,253 | €703,027 | -€39,226 | -5.3% |
| Fixed assets | 21/28 | €727,142 | €688,905 | -€38,237 | -5.3% |
| Tangible fixed assets | 22/27 | €727,142 | €688,905 | -€38,237 | -5.3% |
| Land and buildings | 22 | €705,572 | €671,902 | -€33,670 | -4.8% |
| Plant, machinery and equipment | 23 | €8,065 | €6,342 | -€1,724 | -21.4% |
| Other tangible fixed assets | 26 | €13,505 | €10,662 | -€2,843 | -21.1% |
| Current assets | 29/58 | €15,111 | €14,122 | -€989 | -6.5% |
| Amounts receivable within one year | 40/41 | €254 | €0 | -€254 | -100.0% |
| Trade receivables | 40 | €254 | €0 | -€254 | -100.0% |
| Cash at bank and in hand | 54/58 | €14,857 | €14,122 | -€735 | -4.9% |
| Total equity and liabilities | 10/49 | €742,253 | €703,027 | -€39,226 | -5.3% |
| Equity | 10/15 | €130,724 | €91,498 | -€39,226 | -30.0% |
| Contributions | 10/11 | €750,000 | €750,000 | = | 0.0% |
| Reserves | 13 | €15,562 | €15,562 | = | 0.0% |
| Tax-exempt reserves | 132 | €15,562 | €15,562 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€634,838 | -€674,064 | -€39,226 | -6.2% |
| Amounts payable | 17/49 | €611,529 | €611,529 | = | 0.0% |
| Amounts payable within one year | 42/48 | €611,529 | €611,529 | = | 0.0% |
| Other amounts payable | 47/48 | €611,529 | €611,529 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,313 | €38,237 | -€76 | -0.2% |
| Other operating charges | 640/8 | €2,797 | €6,298 | +€3,501 | +125.2% |
| Gross operating margin | 9900 | €6,336 | €5,339 | -€997 | -15.7% |
| Operating profit (loss) | 9901 | -€34,774 | -€39,196 | -€4,422 | -12.7% |
| Financial charges | 65/66B | €29 | €30 | +€2 | +5.3% |
| Recurring financial charges | 65 | €29 | €30 | +€2 | +5.3% |
| Profit (loss) for the period before taxes | 9903 | -€34,803 | -€39,226 | -€4,423 | -12.7% |
| Profit (loss) for the period | 9904 | -€34,803 | -€39,226 | -€4,423 | -12.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€34,803 | -€39,226 | -€4,423 | -12.7% |
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 29 September 2026 via checked.be.