MARIEN-BOUWENS: 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.
MARIEN-BOUWENS
Largest movements
- Stocks and contracts +€41,479
up €41,479 (+6.8%), from €607,306 to €648,785
- Tangible fixed assets +€22,448
up €22,448 (+39.5%), from €56,901 to €79,349
of which Furniture and vehicles: +€24,113
- Other debts +€81,007
up €81,007 (+27.3%), from €296,832 to €377,839
- Current portion of long-term debt -€32,583
down €32,583 (-13.4%), from €242,864 to €210,280
- Debts after one year +€32,250
up €32,250 (+47.2%), from €68,255 to €100,505
- Trade debts -€15,153
down €15,153 (-10.8%), from €140,909 to €125,756
- Financial charges -€65,365
down €65,365 (-75.8%), from €86,247 to €20,881
of which Non-recurring financial charges: -€56,772
- Staff costs +€39,403
up €39,403 (+48.9%), from €80,584 to €119,986
- Gross operating margin -€15,061
down €15,061 (-8.3%), from €182,399 to €167,338
- Taxes +€10,154
up €10,154 (+488%), from €2,081 to €12,236
- Other operating charges +€6,514
up €6,514 (+205%), from €3,178 to €9,692
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €825,885 | €898,107 | +€72,222 | +8.7% |
| Fixed assets | 21/28 | €59,300 | €81,748 | +€22,448 | +37.9% |
| Tangible fixed assets | 22/27 | €56,901 | €79,349 | +€22,448 | +39.5% |
| Land and buildings | 22 | €46,668 | €46,668 | = | 0.0% |
| Plant, machinery and equipment | 23 | €9,094 | €7,429 | -€1,665 | -18.3% |
| Furniture and vehicles | 24 | €1,138 | €25,251 | +€24,113 | +2,118% |
| Financial fixed assets | 28 | €2,399 | €2,399 | = | 0.0% |
| Current assets | 29/58 | €766,585 | €816,359 | +€49,774 | +6.5% |
| Stocks and contracts in progress | 3 | €607,306 | €648,785 | +€41,479 | +6.8% |
| Stocks | 30/36 | €607,306 | €648,785 | +€41,479 | +6.8% |
| Amounts receivable within one year | 40/41 | €102,293 | €104,011 | +€1,718 | +1.7% |
| Trade receivables | 40 | €44,217 | €45,935 | +€1,718 | +3.9% |
| Other amounts receivable | 41 | €58,076 | €58,076 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €55,059 | €63,563 | +€8,504 | +15.4% |
| Deferred charges and accrued income | 490/1 | €1,927 | - | -€1,927 | |
| Total equity and liabilities | 10/49 | €825,885 | €898,107 | +€72,222 | +8.7% |
| Equity | 10/15 | €75,462 | €77,471 | +€2,009 | +2.7% |
| Contributions | 10/11 | €37,200 | €37,200 | = | 0.0% |
| Capital | 10 | €37,200 | €37,200 | = | 0.0% |
| Issued capital | 100 | €37,200 | €37,200 | = | 0.0% |
| Reserves | 13 | €11,720 | €11,720 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,720 | €3,720 | = | 0.0% |
| Legal reserve | 130 | €3,720 | €3,720 | = | 0.0% |
| Distributable reserves | 133 | €8,000 | €8,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €26,542 | €28,551 | +€2,009 | +7.6% |
| Amounts payable | 17/49 | €750,423 | €820,635 | +€70,212 | +9.4% |
| Amounts payable after more than one year | 17 | €68,255 | €100,505 | +€32,250 | +47.2% |
| Financial debts | 170/4 | €68,255 | €100,505 | +€32,250 | +47.2% |
| Amounts payable within one year | 42/48 | €682,167 | €720,130 | +€37,962 | +5.6% |
| Current portion of amounts payable after more than one year | 42 | €242,864 | €210,280 | -€32,583 | -13.4% |
| Trade debts | 44 | €140,909 | €125,756 | -€15,153 | -10.8% |
| Suppliers | 440/4 | €140,909 | €125,756 | -€15,153 | -10.8% |
| Taxes, remuneration and social security | 45 | €1,562 | €6,255 | +€4,692 | +300% |
| Taxes | 450/3 | €1,562 | €6,255 | +€4,692 | +300% |
| Other amounts payable | 47/48 | €296,832 | €377,839 | +€81,007 | +27.3% |
| Remuneration, social security and pensions | 62 | €80,584 | €119,986 | +€39,403 | +48.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,288 | €8,916 | +€3,628 | +68.6% |
| Other operating charges | 640/8 | €3,178 | €9,692 | +€6,514 | +205% |
| Gross operating margin | 9900 | €182,399 | €167,338 | -€15,061 | -8.3% |
| Operating profit (loss) | 9901 | €93,350 | €28,744 | -€64,606 | -69.2% |
| Financial income | 75/76B | €3,141 | €6,382 | +€3,241 | +103% |
| Recurring financial income | 75 | €1,573 | €6,382 | +€4,809 | +306% |
| Non-recurring financial income | 76B | €1,568 | - | -€1,568 | |
| Financial charges | 65/66B | €86,247 | €20,881 | -€65,365 | -75.8% |
| Recurring financial charges | 65 | €29,475 | €20,881 | -€8,594 | -29.2% |
| Non-recurring financial charges | 66B | €56,772 | - | -€56,772 | |
| Profit (loss) for the period before taxes | 9903 | €10,244 | €14,245 | +€4,001 | +39.1% |
| Income taxes | 67/77 | €2,081 | €12,236 | +€10,154 | +488% |
| Profit (loss) for the period | 9904 | €8,163 | €2,009 | -€6,153 | -75.4% |
| Profit (loss) for the period to be appropriated | 9905 | €8,163 | €2,009 | -€6,153 | -75.4% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.