Marevan: 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.
Marevan
Largest movements
- Receivables within one year -€34,728
down €34,728 (-13.2%), from €264,026 to €229,298
of which Other amounts receivable: -€90,061
- Receivables after one year -€27,209
no longer reported in 2025 (was €27,209)
- Cash -€22,263
down €22,263 (-52.7%), from €42,271 to €20,008
mainly Tax, wage and social debts (-€76,765) and Contributions, distributions and other (-€29,919)
- Tangible fixed assets +€7,780
up €7,780 (+6.6%), from €117,193 to €124,973
of which Furniture and vehicles: +€10,500
- Tax, wage and social debts -€76,765
down €76,765 (-84.9%), from €90,430 to €13,665
- Reserves +€18,253
up €18,253 (+8.0%), from €228,429 to €246,683
- Debts after one year -€9,500
down €9,500 (-13.3%), from €71,500 to €62,000
- Trade debts -€9,056
down €9,056 (-89.7%), from €10,100 to €1,043
- Gross operating margin -€107,721
down €107,721 (-55.1%), from €195,439 to €87,718
- Taxes -€36,048
down €36,048 (-58.3%), from €61,844 to €25,796
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 | €453,925 | €377,298 | -€76,627 | -16.9% |
| Fixed assets | 21/28 | €117,193 | €124,973 | +€7,780 | +6.6% |
| Tangible fixed assets | 22/27 | €117,193 | €124,973 | +€7,780 | +6.6% |
| Land and buildings | 22 | €116,623 | €112,270 | -€4,353 | -3.7% |
| Plant, machinery and equipment | 23 | - | €1,633 | +€1,633 | |
| Furniture and vehicles | 24 | €570 | €11,070 | +€10,500 | +1841.6% |
| Current assets | 29/58 | €336,732 | €252,325 | -€84,407 | -25.1% |
| Amounts receivable after more than one year | 29 | €27,209 | - | -€27,209 | |
| Other amounts receivable | 291 | €27,209 | - | -€27,209 | |
| Amounts receivable within one year | 40/41 | €264,026 | €229,298 | -€34,728 | -13.2% |
| Trade receivables | 40 | €21,945 | €77,278 | +€55,334 | +252.2% |
| Other amounts receivable | 41 | €242,081 | €152,020 | -€90,061 | -37.2% |
| Cash at bank and in hand | 54/58 | €42,271 | €20,008 | -€22,263 | -52.7% |
| Deferred charges and accrued income | 490/1 | €3,226 | €3,019 | -€207 | -6.4% |
| Total equity and liabilities | 10/49 | €453,925 | €377,298 | -€76,627 | -16.9% |
| Equity | 10/15 | €272,395 | €290,648 | +€18,253 | +6.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €228,429 | €246,683 | +€18,253 | +8.0% |
| Distributable reserves | 133 | €228,429 | €246,683 | +€18,253 | +8.0% |
| Profit (loss) carried forward | 14 | €25,366 | €25,366 | = | 0.0% |
| Amounts payable | 17/49 | €181,530 | €86,650 | -€94,880 | -52.3% |
| Amounts payable after more than one year | 17 | €71,500 | €62,000 | -€9,500 | -13.3% |
| Financial debts | 170/4 | €71,500 | €62,000 | -€9,500 | -13.3% |
| Amounts payable within one year | 42/48 | €110,030 | €24,209 | -€85,821 | -78.0% |
| Current portion of amounts payable after more than one year | 42 | €9,500 | €9,500 | = | 0.0% |
| Trade debts | 44 | €10,100 | €1,043 | -€9,056 | -89.7% |
| Suppliers | 440/4 | €10,100 | €1,043 | -€9,056 | -89.7% |
| Taxes, remuneration and social security | 45 | €90,430 | €13,665 | -€76,765 | -84.9% |
| Taxes | 450/3 | €90,430 | €13,665 | -€76,765 | -84.9% |
| Accrued charges and deferred income | 492/3 | - | €441 | +€441 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,568 | €5,754 | +€1,186 | +26.0% |
| Other operating charges | 640/8 | €7,078 | €6,316 | -€762 | -10.8% |
| Gross operating margin | 9900 | €195,439 | €87,718 | -€107,721 | -55.1% |
| Operating profit (loss) | 9901 | €183,793 | €75,648 | -€108,145 | -58.8% |
| Financial income | 75/76B | €3,072 | €3,282 | +€210 | +6.8% |
| Recurring financial income | 75 | €3,072 | €3,282 | +€210 | +6.8% |
| Financial charges | 65/66B | €3,806 | €4,961 | +€1,156 | +30.4% |
| Recurring financial charges | 65 | €3,378 | €4,961 | +€1,584 | +46.9% |
| Non-recurring financial charges | 66B | €428 | - | -€428 | |
| Profit (loss) for the period before taxes | 9903 | €183,058 | €73,968 | -€109,090 | -59.6% |
| Income taxes | 67/77 | €61,844 | €25,796 | -€36,048 | -58.3% |
| Profit (loss) for the period | 9904 | €121,214 | €48,172 | -€73,042 | -60.3% |
| Profit (loss) for the period to be appropriated | 9905 | €121,214 | €48,172 | -€73,042 | -60.3% |
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 9 October 2026 via checked.be.