MARIAN: 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.
MARIAN
Largest movements
- Tangible fixed assets -€180,855
down €180,855 (-4.7%), from €3.9m to €3.7m
of which Land and buildings: -€180,420
- Cash +€136,757
up €136,757 (+554%), from €24,668 to €161,425
mainly Net result for the year (+€371,110) and Other debts (+€226,105)
- Reserves -€326,796
down €326,796 (-16.1%), from €2.0m to €1.7m
of which Distributable reserves: -€326,796
- Other debts +€226,105
up €226,105 (+38.0%), from €595,683 to €821,788
- Financial income -€72,326
down €72,326 (-94.1%), from €76,838 to €4,513
- Gross operating margin +€29,973
up €29,973 (+3.8%), from €784,695 to €814,668
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 | €4,079,380 | €4,018,865 | -€60,514 | -1.5% |
| Fixed assets | 21/28 | €3,908,027 | €3,728,754 | -€179,273 | -4.6% |
| Tangible fixed assets | 22/27 | €3,875,666 | €3,694,811 | -€180,855 | -4.7% |
| Land and buildings | 22 | €3,873,233 | €3,692,814 | -€180,420 | -4.7% |
| Plant, machinery and equipment | 23 | €1,015 | €1,015 | = | 0.0% |
| Furniture and vehicles | 24 | €1,418 | €982 | -€436 | -30.7% |
| Financial fixed assets | 28 | €32,361 | €33,943 | +€1,583 | +4.9% |
| Current assets | 29/58 | €171,353 | €290,111 | +€118,758 | +69.3% |
| Amounts receivable within one year | 40/41 | €92,770 | €103,484 | +€10,714 | +11.5% |
| Trade receivables | 40 | €2,323 | €5,247 | +€2,923 | +126% |
| Other amounts receivable | 41 | €90,447 | €98,238 | +€7,791 | +8.6% |
| Cash at bank and in hand | 54/58 | €24,668 | €161,425 | +€136,757 | +554% |
| Deferred charges and accrued income | 490/1 | €53,915 | €25,202 | -€28,713 | -53.3% |
| Total equity and liabilities | 10/49 | €4,079,380 | €4,018,865 | -€60,514 | -1.5% |
| Equity | 10/15 | €3,454,706 | €3,127,910 | -€326,796 | -9.5% |
| Contributions | 10/11 | €1,405,000 | €1,405,000 | = | 0.0% |
| Capital | 10 | €1,405,000 | €1,405,000 | = | 0.0% |
| Issued capital | 100 | €1,405,000 | €1,405,000 | = | 0.0% |
| Reserves | 13 | €2,025,777 | €1,698,982 | -€326,796 | -16.1% |
| Non-distributable reserves | 130/1 | €211,368 | €211,368 | = | 0.0% |
| Legal reserve | 130 | €211,368 | €211,368 | = | 0.0% |
| Distributable reserves | 133 | €1,814,409 | €1,487,613 | -€326,796 | -18.0% |
| Profit (loss) carried forward | 14 | €23,929 | €23,929 | = | 0.0% |
| Amounts payable | 17/49 | €624,673 | €890,955 | +€266,282 | +42.6% |
| Amounts payable within one year | 42/48 | €624,673 | €890,955 | +€266,282 | +42.6% |
| Trade debts | 44 | €5,220 | €19,144 | +€13,923 | +267% |
| Suppliers | 440/4 | €5,220 | €19,144 | +€13,923 | +267% |
| Taxes, remuneration and social security | 45 | €23,770 | €50,023 | +€26,253 | +110% |
| Taxes | 450/3 | €23,770 | €47,384 | +€23,614 | +99.3% |
| Remuneration and social security | 454/9 | - | €2,640 | +€2,640 | |
| Other amounts payable | 47/48 | €595,683 | €821,788 | +€226,105 | +38.0% |
| Remuneration, social security and pensions | 62 | - | €8,034 | +€8,034 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €186,619 | €180,855 | -€5,764 | -3.1% |
| Other operating charges | 640/8 | €80,952 | €76,980 | -€3,973 | -4.9% |
| Gross operating margin | 9900 | €784,695 | €814,668 | +€29,973 | +3.8% |
| Operating profit (loss) | 9901 | €517,124 | €548,799 | +€31,675 | +6.1% |
| Financial income | 75/76B | €76,838 | €4,513 | -€72,326 | -94.1% |
| Recurring financial income | 75 | €76,838 | €4,513 | -€72,326 | -94.1% |
| Financial charges | 65/66B | €502 | €205 | -€298 | -59.2% |
| Recurring financial charges | 65 | €502 | €205 | -€298 | -59.2% |
| Profit (loss) for the period before taxes | 9903 | €593,460 | €553,107 | -€40,353 | -6.8% |
| Income taxes | 67/77 | €184,283 | €181,997 | -€2,286 | -1.2% |
| Profit (loss) for the period | 9904 | €409,177 | €371,110 | -€38,067 | -9.3% |
| Profit (loss) for the period to be appropriated | 9905 | €409,177 | €371,110 | -€38,067 | -9.3% |
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 14 October 2026 via checked.be.