MARFA FIREWORKS: 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.
MARFA FIREWORKS
Largest movements
- Cash +€528,205
up €528,205 (+72.1%), from €732,770 to €1.3m
mainly Receivables within one year (+€276,141) and Net result for the year (+€137,020)
- Receivables within one year -€276,141
down €276,141 (-67.8%), from €407,479 to €131,338
of which Other amounts receivable: -€277,050
- Profit (loss) carried forward +€137,020
up €137,020 (+17.3%), from €791,569 to €928,589
- Tax, wage and social debts +€67,077
up €67,077 (+86.6%), from €77,472 to €144,549
- Trade debts +€47,920
up €47,920 (+9.4%), from €508,480 to €556,400
- Debts after one year -€23,642
down €23,642 (-24.8%), from €95,219 to €71,577
- Gross operating margin +€22,202
up €22,202 (+11.3%), from €196,845 to €219,048
- Taxes +€4,783
up €4,783 (+10.6%), from €45,096 to €49,878
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 | €1,627,793 | €1,864,763 | +€236,970 | +14.6% |
| Fixed assets | 21/28 | €486,267 | €471,124 | -€15,143 | -3.1% |
| Tangible fixed assets | 22/27 | €192,467 | €177,324 | -€15,143 | -7.9% |
| Land and buildings | 22 | €192,467 | €177,324 | -€15,143 | -7.9% |
| Financial fixed assets | 28 | €293,800 | €293,800 | = | 0.0% |
| Current assets | 29/58 | €1,141,526 | €1,393,639 | +€252,112 | +22.1% |
| Amounts receivable within one year | 40/41 | €407,479 | €131,338 | -€276,141 | -67.8% |
| Trade receivables | 40 | €130,429 | €131,338 | +€909 | +0.7% |
| Other amounts receivable | 41 | €277,050 | €0 | -€277,050 | -100% |
| Cash at bank and in hand | 54/58 | €732,770 | €1,260,975 | +€528,205 | +72.1% |
| Deferred charges and accrued income | 490/1 | €1,277 | €1,326 | +€49 | +3.8% |
| Total equity and liabilities | 10/49 | €1,627,793 | €1,864,763 | +€236,970 | +14.6% |
| Equity | 10/15 | €923,637 | €1,060,657 | +€137,020 | +14.8% |
| Contributions | 10/11 | €120,000 | €120,000 | = | 0.0% |
| Reserves | 13 | €12,068 | €12,068 | = | 0.0% |
| Tax-exempt reserves | 132 | €68 | €68 | = | 0.0% |
| Distributable reserves | 133 | €12,000 | €12,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €791,569 | €928,589 | +€137,020 | +17.3% |
| Amounts payable | 17/49 | €704,157 | €804,106 | +€99,950 | +14.2% |
| Amounts payable after more than one year | 17 | €95,219 | €71,577 | -€23,642 | -24.8% |
| Financial debts | 170/4 | €95,219 | €71,577 | -€23,642 | -24.8% |
| Amounts payable within one year | 42/48 | €608,421 | €732,111 | +€123,690 | +20.3% |
| Current portion of amounts payable after more than one year | 42 | €22,469 | €23,642 | +€1,173 | +5.2% |
| Trade debts | 44 | €508,480 | €556,400 | +€47,920 | +9.4% |
| Suppliers | 440/4 | €508,480 | €556,400 | +€47,920 | +9.4% |
| Taxes, remuneration and social security | 45 | €77,472 | €144,549 | +€67,077 | +86.6% |
| Taxes | 450/3 | €77,472 | €144,549 | +€67,077 | +86.6% |
| Other amounts payable | 47/48 | - | €7,520 | +€7,520 | |
| Accrued charges and deferred income | 492/3 | €517 | €418 | -€99 | -19.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,143 | €15,143 | = | 0.0% |
| Other operating charges | 640/8 | €4,966 | €4,981 | +€15 | +0.3% |
| Gross operating margin | 9900 | €196,845 | €219,048 | +€22,202 | +11.3% |
| Operating profit (loss) | 9901 | €176,737 | €198,924 | +€22,187 | +12.6% |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €11,248 | €12,026 | +€778 | +6.9% |
| Recurring financial charges | 65 | €11,248 | €12,026 | +€778 | +6.9% |
| Profit (loss) for the period before taxes | 9903 | €165,489 | €186,898 | +€21,409 | +12.9% |
| Income taxes | 67/77 | €45,096 | €49,878 | +€4,783 | +10.6% |
| Profit (loss) for the period | 9904 | €120,393 | €137,020 | +€16,627 | +13.8% |
| Profit (loss) for the period to be appropriated | 9905 | €120,393 | €137,020 | +€16,627 | +13.8% |
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 20 October 2026 via checked.be.