MARIMAN HANS: 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.
MARIMAN HANS
Largest movements
- Cash +€277,872
up €277,872 (+54.5%), from €510,140 to €788,012
mainly Net result for the year (+€191,999) and Stocks and contracts (+€190,597)
- Stocks and contracts -€190,597
down €190,597 (-26.9%), from €708,597 to €518,000
- Deferred charges and accrued income -€32,847
down €32,847 (-19.9%), from €164,664 to €131,817
- Receivables within one year +€30,597
up €30,597 (+40.1%), from €76,285 to €106,883
of which Trade receivables: +€25,975
- Tangible fixed assets -€27,362
down €27,362 (-7.8%), from €349,785 to €322,423
- Debts after one year -€156,337
down €156,337 (-79.3%), from €197,207 to €40,870
- Reserves +€141,999
up €141,999 (+15.2%), from €936,678 to €1.1m
of which Distributable reserves: +€141,999
- Trade debts +€69,787
up €69,787 (+74.6%), from €93,550 to €163,338
- Current portion of long-term debt -€18,869
down €18,869 (-10.8%), from €175,206 to €156,337
- Gross operating margin +€112,621
up €112,621 (+15.1%), from €747,786 to €860,406
- Staff costs +€28,852
up €28,852 (+6.1%), from €474,763 to €503,615
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 | €1,809,526 | €1,867,189 | +€57,663 | +3.2% |
| Fixed assets | 21/28 | €349,840 | €322,478 | -€27,362 | -7.8% |
| Tangible fixed assets | 22/27 | €349,785 | €322,423 | -€27,362 | -7.8% |
| Land and buildings | 22 | €20,185 | €17,575 | -€2,610 | -12.9% |
| Plant, machinery and equipment | 23 | €37,066 | €32,816 | -€4,250 | -11.5% |
| Furniture and vehicles | 24 | €149,809 | €136,601 | -€13,208 | -8.8% |
| Other tangible fixed assets | 26 | €142,725 | €135,431 | -€7,294 | -5.1% |
| Financial fixed assets | 28 | €55 | €55 | = | 0.0% |
| Current assets | 29/58 | €1,459,686 | €1,544,711 | +€85,025 | +5.8% |
| Stocks and contracts in progress | 3 | €708,597 | €518,000 | -€190,597 | -26.9% |
| Stocks | 30/36 | €708,597 | €518,000 | -€190,597 | -26.9% |
| Amounts receivable within one year | 40/41 | €76,285 | €106,883 | +€30,597 | +40.1% |
| Trade receivables | 40 | €71,810 | €97,784 | +€25,975 | +36.2% |
| Other amounts receivable | 41 | €4,476 | €9,099 | +€4,623 | +103% |
| Cash at bank and in hand | 54/58 | €510,140 | €788,012 | +€277,872 | +54.5% |
| Deferred charges and accrued income | 490/1 | €164,664 | €131,817 | -€32,847 | -19.9% |
| Total equity and liabilities | 10/49 | €1,809,526 | €1,867,189 | +€57,663 | +3.2% |
| Equity | 10/15 | €1,080,761 | €1,222,759 | +€141,999 | +13.1% |
| Contributions | 10/11 | €144,082 | €144,082 | = | 0.0% |
| Reserves | 13 | €936,678 | €1,078,677 | +€141,999 | +15.2% |
| Tax-exempt reserves | 132 | €14,562 | €14,562 | = | 0.0% |
| Distributable reserves | 133 | €922,116 | €1,064,115 | +€141,999 | +15.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €728,765 | €644,430 | -€84,335 | -11.6% |
| Amounts payable after more than one year | 17 | €197,207 | €40,870 | -€156,337 | -79.3% |
| Financial debts | 170/4 | €197,207 | €40,870 | -€156,337 | -79.3% |
| Amounts payable within one year | 42/48 | €524,249 | €587,674 | +€63,426 | +12.1% |
| Current portion of amounts payable after more than one year | 42 | €175,206 | €156,337 | -€18,869 | -10.8% |
| Financial debts | 43 | €0 | €8,477 | +€8,477 | |
| Credit institutions | 430/8 | €0 | €8,477 | +€8,477 | |
| Trade debts | 44 | €93,550 | €163,338 | +€69,787 | +74.6% |
| Suppliers | 440/4 | €93,550 | €163,338 | +€69,787 | +74.6% |
| Advances received on contracts in progress | 46 | €38,575 | €40,912 | +€2,337 | +6.1% |
| Taxes, remuneration and social security | 45 | €110,144 | €93,753 | -€16,392 | -14.9% |
| Taxes | 450/3 | €52,193 | €46,429 | -€5,764 | -11.0% |
| Remuneration and social security | 454/9 | €57,951 | €47,323 | -€10,628 | -18.3% |
| Other amounts payable | 47/48 | €106,773 | €124,858 | +€18,084 | +16.9% |
| Accrued charges and deferred income | 492/3 | €7,310 | €15,886 | +€8,577 | +117% |
| Non-recurring operating income | 76A | - | €2,066 | +€2,066 | |
| Remuneration, social security and pensions | 62 | €474,763 | €503,615 | +€28,852 | +6.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €84,505 | €92,640 | +€8,135 | +9.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €141 | +€141 | |
| Other operating charges | 640/8 | €4,603 | €3,932 | -€671 | -14.6% |
| Gross operating margin | 9900 | €747,786 | €860,406 | +€112,621 | +15.1% |
| Operating profit (loss) | 9901 | €183,914 | €260,078 | +€76,163 | +41.4% |
| Financial income | 75/76B | €40,298 | €40,519 | +€221 | +0.5% |
| Recurring financial income | 75 | €40,298 | €40,519 | +€221 | +0.5% |
| Financial charges | 65/66B | €36,213 | €39,436 | +€3,223 | +8.9% |
| Recurring financial charges | 65 | €36,213 | €39,436 | +€3,223 | +8.9% |
| Profit (loss) for the period before taxes | 9903 | €187,999 | €261,160 | +€73,161 | +38.9% |
| Income taxes | 67/77 | €62,931 | €69,162 | +€6,231 | +9.9% |
| Profit (loss) for the period | 9904 | €125,069 | €191,999 | +€66,930 | +53.5% |
| Profit (loss) for the period to be appropriated | 9905 | €125,069 | €191,999 | +€66,930 | +53.5% |
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 22 October 2026 via checked.be.