Marginis: 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.
Marginis
Largest movements
- Tangible fixed assets -€88,910
down €88,910 (-20.4%), from €436,157 to €347,247
of which Land and buildings: -€88,390
- Cash +€79,496
up €79,496 (+8.4%), from €943,595 to €1.0m
mainly Depreciation (+€90,919) and Net result for the year (+€35,966)
- Tax, wage and social debts -€41,176
down €41,176 (-67.4%), from €61,052 to €19,876
- Reserves +€35,966
up €35,966 (+8.4%), from €429,745 to €465,711
- Gross operating margin -€489,548
down €489,548 (-69.5%), from €704,679 to €215,132
- Taxes -€67,549
down €67,549 (-77.5%), from €87,108 to €19,559
- Depreciation -€17,369
down €17,369 (-16.0%), from €108,289 to €90,919
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 | €1,397,484 | €1,384,499 | -€12,984 | -0.9% |
| Fixed assets | 21/28 | €436,157 | €347,247 | -€88,910 | -20.4% |
| Tangible fixed assets | 22/27 | €436,157 | €347,247 | -€88,910 | -20.4% |
| Land and buildings | 22 | €434,823 | €346,434 | -€88,390 | -20.3% |
| Furniture and vehicles | 24 | €1,334 | €813 | -€521 | -39.0% |
| Current assets | 29/58 | €961,327 | €1,037,253 | +€75,926 | +7.9% |
| Amounts receivable within one year | 40/41 | €9,705 | €7,157 | -€2,548 | -26.3% |
| Trade receivables | 40 | €9,705 | €115 | -€9,590 | -98.8% |
| Other amounts receivable | 41 | - | €7,042 | +€7,042 | |
| Cash at bank and in hand | 54/58 | €943,595 | €1,023,091 | +€79,496 | +8.4% |
| Deferred charges and accrued income | 490/1 | €8,027 | €7,004 | -€1,023 | -12.7% |
| Total equity and liabilities | 10/49 | €1,397,484 | €1,384,499 | -€12,984 | -0.9% |
| Equity | 10/15 | €692,543 | €728,509 | +€35,966 | +5.2% |
| Contributions | 10/11 | €500,001 | €500,001 | = | 0.0% |
| Reserves | 13 | €429,745 | €465,711 | +€35,966 | +8.4% |
| Distributable reserves | 133 | €429,745 | €465,711 | +€35,966 | +8.4% |
| Profit (loss) carried forward | 14 | -€237,203 | -€237,203 | = | 0.0% |
| Amounts payable | 17/49 | €704,941 | €655,991 | -€48,950 | -6.9% |
| Amounts payable after more than one year | 17 | €500,000 | €500,000 | = | 0.0% |
| Financial debts | 170/4 | €500,000 | €500,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €199,443 | €150,172 | -€49,271 | -24.7% |
| Trade debts | 44 | €22,592 | €15,816 | -€6,776 | -30.0% |
| Suppliers | 440/4 | €22,592 | €15,816 | -€6,776 | -30.0% |
| Taxes, remuneration and social security | 45 | €61,052 | €19,876 | -€41,176 | -67.4% |
| Taxes | 450/3 | €61,052 | €19,876 | -€41,176 | -67.4% |
| Other amounts payable | 47/48 | €115,800 | €114,481 | -€1,319 | -1.1% |
| Accrued charges and deferred income | 492/3 | €5,498 | €5,818 | +€321 | +5.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €108,289 | €90,919 | -€17,369 | -16.0% |
| Other operating charges | 640/8 | €39,663 | €39,267 | -€396 | -1.0% |
| Gross operating margin | 9900 | €704,679 | €215,132 | -€489,548 | -69.5% |
| Operating profit (loss) | 9901 | €556,728 | €84,946 | -€471,782 | -84.7% |
| Financial income | 75/76B | €199 | €6,013 | +€5,814 | +2928.9% |
| Recurring financial income | 75 | €199 | €6,013 | +€5,814 | +2928.9% |
| Financial charges | 65/66B | €40,074 | €35,433 | -€4,641 | -11.6% |
| Recurring financial charges | 65 | €40,074 | €35,433 | -€4,641 | -11.6% |
| Profit (loss) for the period before taxes | 9903 | €516,852 | €55,526 | -€461,327 | -89.3% |
| Income taxes | 67/77 | €87,108 | €19,559 | -€67,549 | -77.5% |
| Profit (loss) for the period | 9904 | €429,745 | €35,966 | -€393,778 | -91.6% |
| Profit (loss) for the period to be appropriated | 9905 | €429,745 | €35,966 | -€393,778 | -91.6% |
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 3 October 2026 via checked.be.