Marie Navez: 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.
Marie Navez
Largest movements
- Cash +€154,282
up €154,282 (+446%), from €34,586 to €188,868
mainly Net result for the year (+€136,745) and Depreciation (+€55,049)
- Tangible fixed assets -€47,071
down €47,071 (-4.3%), from €1.1m to €1.0m
of which Land and buildings: -€47,568
- Receivables within one year -€15,261
down €15,261 (-39.9%), from €38,291 to €23,030
of which Other amounts receivable: -€24,500
- Financial fixed assets -€15,000
no longer reported in 2025 (was €15,000)
- Profit (loss) carried forward +€77,921
up €77,921 (+32.8%), from €237,736 to €315,657
- Other debts +€44,341
up €44,341 (+82.7%), from €53,589 to €97,930
- Provisions -€40,863
down €40,863 (-8.2%), from €501,080 to €460,217
- Debts after one year -€18,962
down €18,962 (-5.3%), from €354,564 to €335,602
- Gross operating margin +€195,859
up €195,859 (+552%), from €35,504 to €231,363
- Provisions -€25,671
down €25,671 (-154%), from -€16,655 to -€42,326
- Financial charges +€22,939
up €22,939 (+83.0%), from €27,651 to €50,590
- Taxes +€13,813
up €13,813 (+86.7%), from €15,924 to €29,737
- Depreciation +€10,651
up €10,651 (+24.0%), from €44,398 to €55,049
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 | €1,187,316 | €1,261,918 | +€74,602 | +6.3% |
| Fixed assets | 21/28 | €1,110,564 | €1,048,493 | -€62,071 | -5.6% |
| Tangible fixed assets | 22/27 | €1,095,564 | €1,048,493 | -€47,071 | -4.3% |
| Land and buildings | 22 | €997,367 | €949,799 | -€47,568 | -4.8% |
| Plant, machinery and equipment | 23 | €91,596 | €93,486 | +€1,890 | +2.1% |
| Furniture and vehicles | 24 | €6,601 | €5,208 | -€1,393 | -21.1% |
| Financial fixed assets | 28 | €15,000 | - | -€15,000 | |
| Current assets | 29/58 | €76,752 | €213,425 | +€136,673 | +178% |
| Amounts receivable within one year | 40/41 | €38,291 | €23,030 | -€15,261 | -39.9% |
| Trade receivables | 40 | €13,791 | €23,030 | +€9,239 | +67.0% |
| Other amounts receivable | 41 | €24,500 | - | -€24,500 | |
| Cash at bank and in hand | 54/58 | €34,586 | €188,868 | +€154,282 | +446% |
| Deferred charges and accrued income | 490/1 | €3,875 | €1,527 | -€2,348 | -60.6% |
| Total equity and liabilities | 10/49 | €1,187,316 | €1,261,918 | +€74,602 | +6.3% |
| Equity | 10/15 | €247,736 | €325,657 | +€77,921 | +31.5% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €237,736 | €315,657 | +€77,921 | +32.8% |
| Provisions and deferred taxes | 16 | €501,080 | €460,217 | -€40,863 | -8.2% |
| Provisions for liabilities and charges | 160/5 | €501,080 | €460,217 | -€40,863 | -8.2% |
| Other liabilities and charges | 164/5 | €501,080 | €460,217 | -€40,863 | -8.2% |
| Amounts payable | 17/49 | €438,500 | €476,044 | +€37,544 | +8.6% |
| Amounts payable after more than one year | 17 | €354,564 | €335,602 | -€18,962 | -5.3% |
| Financial debts | 170/4 | €354,564 | €335,602 | -€18,962 | -5.3% |
| Amounts payable within one year | 42/48 | €81,862 | €138,371 | +€56,509 | +69.0% |
| Current portion of amounts payable after more than one year | 42 | €28,229 | €31,137 | +€2,908 | +10.3% |
| Trade debts | 44 | €44 | €480 | +€436 | +991% |
| Suppliers | 440/4 | €44 | €480 | +€436 | +991% |
| Taxes, remuneration and social security | 45 | - | €8,824 | +€8,824 | |
| Taxes | 450/3 | - | €8,824 | +€8,824 | |
| Other amounts payable | 47/48 | €53,589 | €97,930 | +€44,341 | +82.7% |
| Accrued charges and deferred income | 492/3 | €2,074 | €2,071 | -€3 | -0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,398 | €55,049 | +€10,651 | +24.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€16,655 | -€42,326 | -€25,671 | -154% |
| Other operating charges | 640/8 | €3,230 | €4,769 | +€1,539 | +47.6% |
| Gross operating margin | 9900 | €35,504 | €231,363 | +€195,859 | +552% |
| Operating profit (loss) | 9901 | €4,531 | €213,871 | +€209,340 | +4,620% |
| Financial income | 75/76B | €3,640 | €3,201 | -€439 | -12.1% |
| Recurring financial income | 75 | €3,640 | €3,201 | -€439 | -12.1% |
| Financial charges | 65/66B | €27,651 | €50,590 | +€22,939 | +83.0% |
| Recurring financial charges | 65 | €27,651 | €50,590 | +€22,939 | +83.0% |
| Profit (loss) for the period before taxes | 9903 | -€19,480 | €166,482 | +€185,962 | |
| Income taxes | 67/77 | €15,924 | €29,737 | +€13,813 | +86.7% |
| Profit (loss) for the period | 9904 | -€35,404 | €136,745 | +€172,149 | |
| Profit (loss) for the period to be appropriated | 9905 | -€35,404 | €136,745 | +€172,149 |
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.