MARFIL: 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.
What changed
MARFIL
NACE 71.121, Engineering and related technical consultancy, excluding land surveyors
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€5,809
2024 · €346-€6,155
Equity
€564,176
2024 · €569,985-€5,809
Cash
€184,669
2024 · €183,913+€756
Balance sheet total
€1.0m
2024 · €1.0m-€22,706
Largest movements
Assets
- Tangible fixed assets -€20,885
down €20,885 (-2.5%), from €836,115 to €815,230
Equity and liabilities
- Reserves -€12,279
down €12,279 (-2.6%), from €463,856 to €451,577
of which Tax-exempt reserves: -€12,279
- Other debts -€10,284
down €10,284 (-6.2%), from €166,571 to €156,287
Income statement
- Financial charges +€6,845
up €6,845 (+342%), from €2,003 to €8,848
- Taxes -€1,927
down €1,927 (-45.8%), from €4,208 to €2,281
- Gross operating margin -€881
down €881 (-2.9%), from €30,300 to €29,419
- Depreciation +€873
up €873 (+3.4%), from €25,329 to €26,202
- Financial income +€660
up €660 (+31.7%), from €2,077 to €2,737
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.
Result 2024
€346
Gross operating margin
-€881
Depreciation
-€873
Other operating charges
-€143
Financial income
+€660
Financial charges
-€6,845
Taxes
+€1,927
Result 2025
-€5,809
raises the resultlowers the result
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.
From operations
+€12,926
Investment
-€5,317
Financing
-€6,854
Cash 2024
€183,913
From operations (derived)
+€12,926
Net result for the year
-€5,809
Depreciation
+€26,202
Receivables within one year
+€4,030
Deferred charges and accrued income
-€1,453
Provisions
-€4,093
Trade debts
-€323
Tax, wage and social debts
+€1,378
Other debts
-€10,284
Accrued charges and deferred income
+€3,279
Investment (derived)
-€5,317
Investment in fixed assets (net)
-€5,317
Financing
-€6,854
Debts after one year
-€7,835
Current portion of long-term debt
+€981
Contributions, distributions and other
-€0
Cash 2025
€184,669
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,024,585 | €1,001,879 | -€22,706 | -2.2% |
| Fixed assets | 21/28 | €836,215 | €815,330 | -€20,885 | -2.5% |
| Tangible fixed assets | 22/27 | €836,115 | €815,230 | -€20,885 | -2.5% |
| Land and buildings | 22 | €836,115 | €815,230 | -€20,885 | -2.5% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €188,370 | €186,549 | -€1,821 | -1.0% |
| Amounts receivable within one year | 40/41 | €4,030 | - | -€4,030 | |
| Trade receivables | 40 | €177 | - | -€177 | |
| Other amounts receivable | 41 | €3,852 | - | -€3,852 | |
| Cash at bank and in hand | 54/58 | €183,913 | €184,669 | +€756 | +0.4% |
| Deferred charges and accrued income | 490/1 | €427 | €1,880 | +€1,453 | +340% |
| Total equity and liabilities | 10/49 | €1,024,585 | €1,001,879 | -€22,706 | -2.2% |
| Equity | 10/15 | €569,985 | €564,176 | -€5,809 | -1.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €24,524 | €24,524 | -€0 | 0.0% |
| Reserves | 13 | €463,856 | €451,577 | -€12,279 | -2.6% |
| Tax-exempt reserves | 132 | €442,963 | €430,684 | -€12,279 | -2.8% |
| Distributable reserves | 133 | €20,893 | €20,893 | +€0 | 0.0% |
| Profit (loss) carried forward | 14 | €63,005 | €69,475 | +€6,470 | +10.3% |
| Provisions and deferred taxes | 16 | €147,654 | €143,561 | -€4,093 | -2.8% |
| Deferred taxes | 168 | €147,654 | €143,561 | -€4,093 | -2.8% |
| Amounts payable | 17/49 | €306,946 | €294,142 | -€12,804 | -4.2% |
| Amounts payable after more than one year | 17 | €131,032 | €123,197 | -€7,835 | -6.0% |
| Financial debts | 170/4 | €131,032 | €123,197 | -€7,835 | -6.0% |
| Amounts payable within one year | 42/48 | €173,833 | €165,585 | -€8,248 | -4.7% |
| Current portion of amounts payable after more than one year | 42 | €6,854 | €7,835 | +€981 | +14.3% |
| Trade debts | 44 | €323 | - | -€323 | |
| Suppliers | 440/4 | €323 | - | -€323 | |
| Taxes, remuneration and social security | 45 | €85 | €1,463 | +€1,378 | +1,615% |
| Taxes | 450/3 | €85 | €1,463 | +€1,378 | +1,615% |
| Other amounts payable | 47/48 | €166,571 | €156,287 | -€10,284 | -6.2% |
| Accrued charges and deferred income | 492/3 | €2,081 | €5,360 | +€3,279 | +158% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,329 | €26,202 | +€873 | +3.4% |
| Other operating charges | 640/8 | €4,584 | €4,727 | +€143 | +3.1% |
| Gross operating margin | 9900 | €30,300 | €29,419 | -€881 | -2.9% |
| Operating profit (loss) | 9901 | €388 | -€1,510 | -€1,898 | |
| Financial income | 75/76B | €2,077 | €2,737 | +€660 | +31.7% |
| Recurring financial income | 75 | €2,077 | €2,737 | +€660 | +31.7% |
| Financial charges | 65/66B | €2,003 | €8,848 | +€6,845 | +342% |
| Recurring financial charges | 65 | €2,003 | €8,848 | +€6,845 | +342% |
| Profit (loss) for the period before taxes | 9903 | €462 | -€7,621 | -€8,083 | |
| Transfer from deferred taxes | 780 | €4,093 | €4,093 | +€0 | 0.0% |
| Income taxes | 67/77 | €4,208 | €2,281 | -€1,927 | -45.8% |
| Profit (loss) for the period | 9904 | €346 | -€5,809 | -€6,155 | |
| Transfer from tax-exempt reserves | 789 | €12,279 | €12,279 | +€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €12,625 | €6,470 | -€6,155 | -48.8% |
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 15 October 2026 via checked.be.