MAREL ADVIES: 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.
MAREL ADVIES
Largest movements
- Cash +€473,596
up €473,596 (+1,793%), from €26,411 to €500,007
mainly Investment in fixed assets (net) (+€235,233) and Net result for the year (+€233,999)
- Financial fixed assets -€235,233
down €235,233 (-100.0%), from €235,234 to €1
- Tangible fixed assets -€20,343
down €20,343 (-11.4%), from €178,583 to €158,239
of which Furniture and vehicles: -€12,389
- Reserves +€233,999
up €233,999 (+92.9%), from €251,947 to €485,946
- Debts after one year -€25,818
down €25,818 (-48.1%), from €53,716 to €27,898
- Other debts -€21,445
down €21,445 (-21.5%), from €99,971 to €78,526
- Tax, wage and social debts +€20,510
up €20,510 (+176%), from €11,630 to €32,140
of which Taxes: +€23,010
- Gross operating margin +€275,543
up €275,543 (+1,954%), from €14,102 to €289,645
- Taxes +€23,335
up €23,335 (+11,356%), from €205 to €23,540
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 | €455,114 | €669,365 | +€214,251 | +47.1% |
| Fixed assets | 21/28 | €413,817 | €158,240 | -€255,577 | -61.8% |
| Tangible fixed assets | 22/27 | €178,583 | €158,239 | -€20,343 | -11.4% |
| Land and buildings | 22 | €135,079 | €127,908 | -€7,171 | -5.3% |
| Plant, machinery and equipment | 23 | €3,323 | €2,538 | -€784 | -23.6% |
| Furniture and vehicles | 24 | €40,181 | €27,793 | -€12,389 | -30.8% |
| Financial fixed assets | 28 | €235,234 | €1 | -€235,233 | -100.0% |
| Current assets | 29/58 | €41,297 | €511,125 | +€469,827 | +1,138% |
| Amounts receivable within one year | 40/41 | €13,629 | €10,636 | -€2,993 | -22.0% |
| Trade receivables | 40 | €879 | €3,136 | +€2,257 | +257% |
| Other amounts receivable | 41 | €12,750 | €7,500 | -€5,250 | -41.2% |
| Cash at bank and in hand | 54/58 | €26,411 | €500,007 | +€473,596 | +1,793% |
| Deferred charges and accrued income | 490/1 | €1,257 | €482 | -€775 | -61.7% |
| Total equity and liabilities | 10/49 | €455,114 | €669,365 | +€214,251 | +47.1% |
| Equity | 10/15 | €264,347 | €498,346 | +€233,999 | +88.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €251,947 | €485,946 | +€233,999 | +92.9% |
| Distributable reserves | 133 | €251,947 | €485,946 | +€233,999 | +92.9% |
| Amounts payable | 17/49 | €190,767 | €171,019 | -€19,748 | -10.4% |
| Amounts payable after more than one year | 17 | €53,716 | €27,898 | -€25,818 | -48.1% |
| Financial debts | 170/4 | €53,716 | €27,898 | -€25,818 | -48.1% |
| Amounts payable within one year | 42/48 | €137,051 | €143,121 | +€6,070 | +4.4% |
| Current portion of amounts payable after more than one year | 42 | €25,312 | €25,818 | +€506 | +2.0% |
| Financial debts | 43 | - | €1,806 | +€1,806 | |
| Credit institutions | 430/8 | - | €1,806 | +€1,806 | |
| Trade debts | 44 | €138 | €4,831 | +€4,693 | +3,407% |
| Suppliers | 440/4 | €138 | €4,831 | +€4,693 | +3,407% |
| Taxes, remuneration and social security | 45 | €11,630 | €32,140 | +€20,510 | +176% |
| Taxes | 450/3 | €9,130 | €32,140 | +€23,010 | +252% |
| Remuneration and social security | 454/9 | €2,500 | €0 | -€2,500 | -100% |
| Other amounts payable | 47/48 | €99,971 | €78,526 | -€21,445 | -21.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,011 | €20,343 | -€668 | -3.2% |
| Other operating charges | 640/8 | €3,814 | €3,501 | -€312 | -8.2% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €14,102 | €289,645 | +€275,543 | +1,954% |
| Operating profit (loss) | 9901 | -€10,723 | €265,800 | +€276,523 | |
| Financial income | 75/76B | €0 | €0 | +€0 | +900% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +900% |
| Financial charges | 65/66B | €10,552 | €8,261 | -€2,290 | -21.7% |
| Recurring financial charges | 65 | €10,552 | €8,261 | -€2,290 | -21.7% |
| Profit (loss) for the period before taxes | 9903 | -€21,275 | €257,539 | +€278,814 | |
| Income taxes | 67/77 | €205 | €23,540 | +€23,335 | +11,356% |
| Profit (loss) for the period | 9904 | -€21,480 | €233,999 | +€255,479 | |
| Profit (loss) for the period to be appropriated | 9905 | -€21,480 | €233,999 | +€255,479 |
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 13 October 2026 via checked.be.