MARIB: 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.
MARIB
Largest movements
- Cash +€435,053
up €435,053 (+53.2%), from €817,516 to €1.3m
mainly Net result for the year (+€432,074) and Depreciation (+€98,679)
- Tangible fixed assets +€46,163
up €46,163 (+2.3%), from €2.0m to €2.1m
- Reserves +€432,074
up €432,074 (+19.1%), from €2.3m to €2.7m
of which Distributable reserves: +€432,074
- Gross operating margin +€94,146
up €94,146 (+13.2%), from €713,430 to €807,575
- Taxes +€21,367
up €21,367 (+17.9%), from €119,300 to €140,667
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 | €3,090,916 | €3,569,155 | +€478,239 | +15.5% |
| Fixed assets | 21/28 | €2,043,707 | €2,089,870 | +€46,163 | +2.3% |
| Tangible fixed assets | 22/27 | €2,043,707 | €2,089,870 | +€46,163 | +2.3% |
| Land and buildings | 22 | €2,043,707 | €2,089,870 | +€46,163 | +2.3% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €1,047,209 | €1,479,285 | +€432,076 | +41.3% |
| Amounts receivable within one year | 40/41 | €201,557 | €199,323 | -€2,234 | -1.1% |
| Trade receivables | 40 | €48,334 | €103,902 | +€55,568 | +115.0% |
| Other amounts receivable | 41 | €153,223 | €95,421 | -€57,802 | -37.7% |
| Cash at bank and in hand | 54/58 | €817,516 | €1,252,569 | +€435,053 | +53.2% |
| Deferred charges and accrued income | 490/1 | €28,136 | €27,393 | -€744 | -2.6% |
| Total equity and liabilities | 10/49 | €3,090,916 | €3,569,155 | +€478,239 | +15.5% |
| Equity | 10/15 | €2,506,825 | €2,938,899 | +€432,074 | +17.2% |
| Contributions | 10/11 | €240,000 | €240,000 | = | 0.0% |
| Capital | 10 | €240,000 | €240,000 | = | 0.0% |
| Issued capital | 100 | €240,000 | €240,000 | = | 0.0% |
| Reserves | 13 | €2,266,825 | €2,698,899 | +€432,074 | +19.1% |
| Non-distributable reserves | 130/1 | €24,000 | €24,000 | = | 0.0% |
| Legal reserve | 130 | €24,000 | €24,000 | = | 0.0% |
| Distributable reserves | 133 | €2,242,825 | €2,674,899 | +€432,074 | +19.3% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €584,091 | €630,256 | +€46,165 | +7.9% |
| Amounts payable after more than one year | 17 | €29,757 | €29,757 | = | 0.0% |
| Other amounts payable | 178/9 | €29,757 | €29,757 | = | 0.0% |
| Amounts payable within one year | 42/48 | €554,334 | €599,472 | +€45,138 | +8.1% |
| Trade debts | 44 | €36,982 | €59,456 | +€22,474 | +60.8% |
| Suppliers | 440/4 | €36,982 | €59,456 | +€22,474 | +60.8% |
| Taxes, remuneration and social security | 45 | €154,194 | €175,888 | +€21,694 | +14.1% |
| Taxes | 450/3 | €154,194 | €175,888 | +€21,694 | +14.1% |
| Other amounts payable | 47/48 | €363,157 | €364,128 | +€971 | +0.3% |
| Accrued charges and deferred income | 492/3 | - | €1,027 | +€1,027 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €96,397 | €98,679 | +€2,282 | +2.4% |
| Other operating charges | 640/8 | €133,650 | €134,323 | +€672 | +0.5% |
| Gross operating margin | 9900 | €713,430 | €807,575 | +€94,146 | +13.2% |
| Operating profit (loss) | 9901 | €483,382 | €574,574 | +€91,191 | +18.9% |
| Financial income | 75/76B | €25 | €10 | -€15 | -58.9% |
| Recurring financial income | 75 | €25 | €10 | -€15 | -58.9% |
| Financial charges | 65/66B | €3,086 | €1,843 | -€1,243 | -40.3% |
| Recurring financial charges | 65 | €3,086 | €1,843 | -€1,243 | -40.3% |
| Profit (loss) for the period before taxes | 9903 | €480,321 | €572,741 | +€92,420 | +19.2% |
| Income taxes | 67/77 | €119,300 | €140,667 | +€21,367 | +17.9% |
| Profit (loss) for the period | 9904 | €361,021 | €432,074 | +€71,052 | +19.7% |
| Profit (loss) for the period to be appropriated | 9905 | €361,021 | €432,074 | +€71,052 | +19.7% |
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 6 October 2026 via checked.be.