MARIFAX: 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.
MARIFAX
Largest movements
- Receivables within one year -€10,575
down €10,575 (-8.7%), from €121,211 to €110,636
of which Trade receivables: -€20,000
- Cash -€1,270
down €1,270 (-62.9%), from €2,018 to €748
mainly Other debts (-€19,258)
- Other debts -€19,258
down €19,258 (-5.3%), from €365,870 to €346,612
- Trade debts +€5,054
up €5,054 (+473.6%), from €1,067 to €6,122
- Profit (loss) carried forward +€2,095
up €2,095 (+0.7%), from -€311,432 to -€309,337
- Gross operating margin -€2,953
down €2,953 (-49.7%), from €5,937 to €2,984
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €123,705 | €111,597 | -€12,108 | -9.8% |
| Fixed assets | 21/28 | €477 | €213 | -€264 | -55.3% |
| Tangible fixed assets | 22/27 | €477 | €213 | -€264 | -55.3% |
| Plant, machinery and equipment | 23 | €436 | €187 | -€249 | -57.1% |
| Furniture and vehicles | 24 | €41 | €26 | -€15 | -36.4% |
| Current assets | 29/58 | €123,229 | €111,384 | -€11,844 | -9.6% |
| Amounts receivable within one year | 40/41 | €121,211 | €110,636 | -€10,575 | -8.7% |
| Trade receivables | 40 | €70,000 | €50,000 | -€20,000 | -28.6% |
| Other amounts receivable | 41 | €51,211 | €60,636 | +€9,425 | +18.4% |
| Cash at bank and in hand | 54/58 | €2,018 | €748 | -€1,270 | -62.9% |
| Total equity and liabilities | 10/49 | €123,705 | €111,597 | -€12,108 | -9.8% |
| Equity | 10/15 | -€243,232 | -€241,137 | +€2,095 | +0.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€311,432 | -€309,337 | +€2,095 | +0.7% |
| Amounts payable | 17/49 | €366,938 | €352,734 | -€14,204 | -3.9% |
| Amounts payable within one year | 42/48 | €366,938 | €352,734 | -€14,204 | -3.9% |
| Trade debts | 44 | €1,067 | €6,122 | +€5,054 | +473.6% |
| Suppliers | 440/4 | €1,067 | €6,122 | +€5,054 | +473.6% |
| Other amounts payable | 47/48 | €365,870 | €346,612 | -€19,258 | -5.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €264 | €264 | = | 0.0% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €5,937 | €2,984 | -€2,953 | -49.7% |
| Operating profit (loss) | 9901 | €5,286 | €2,320 | -€2,965 | -56.1% |
| Financial charges | 65/66B | €194 | €225 | +€32 | +16.3% |
| Recurring financial charges | 65 | €194 | €225 | +€32 | +16.3% |
| Profit (loss) for the period before taxes | 9903 | €5,092 | €2,095 | -€2,997 | -58.8% |
| Profit (loss) for the period | 9904 | €5,092 | €2,095 | -€2,997 | -58.8% |
| Profit (loss) for the period to be appropriated | 9905 | €5,092 | €2,095 | -€2,997 | -58.8% |
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 8 October 2026 via checked.be.