MARINEBLAUW: what changed
MARINEBLAUW
Largest movements
- Receivables within one year +€45,791
up €45,791 (+382%), from €12,000 to €57,791
- Cash -€18,036
down €18,036 (-93.5%), from €19,284 to €1,249
mainly Receivables within one year (-€45,791) and Other debts (-€27,285)
- Intangible fixed assets -€17,600
down €17,600 (-80.0%), from €22,000 to €4,400
- Tangible fixed assets +€12,881
up €12,881 (+1,362%), from €946 to €13,827
of which Other tangible fixed assets: +€12,913
- Deferred charges and accrued income +€1,172
new in 2025: €1,172
- Reserves +€44,827
up €44,827 (+254,700%), from €18 to €44,845
of which Distributable reserves: +€44,827
- Other debts -€27,285
down €27,285 (-100%), from €27,285 to €0
- Tax, wage and social debts +€11,944
up €11,944 (+407%), from €2,934 to €14,878
of which Taxes: +€11,863
- Trade debts -€7,515
down €7,515 (-98.5%), from €7,632 to €116
- Profit (loss) carried forward +€2,239
up €2,239, from -€2,239 to €0
- Gross operating margin -€22,069
down €22,069 (-16.0%), from €137,987 to €115,918
- Taxes +€11,863
new in 2025: €11,863
- Staff costs -€6,635
down €6,635 (-16.4%), from €40,557 to €33,922
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €54,230 | €78,439 | +€24,209 | +44.6% |
| Fixed assets | 21/28 | €22,946 | €18,227 | -€4,719 | -20.6% |
| Intangible fixed assets | 21 | €22,000 | €4,400 | -€17,600 | -80.0% |
| Tangible fixed assets | 22/27 | €946 | €13,827 | +€12,881 | +1,362% |
| Furniture and vehicles | 24 | €153 | €121 | -€32 | -20.7% |
| Other tangible fixed assets | 26 | €793 | €13,706 | +€12,913 | +1,628% |
| Current assets | 29/58 | €31,284 | €60,212 | +€28,928 | +92.5% |
| Amounts receivable within one year | 40/41 | €12,000 | €57,791 | +€45,791 | +382% |
| Other amounts receivable | 41 | €12,000 | €57,791 | +€45,791 | +382% |
| Cash at bank and in hand | 54/58 | €19,284 | €1,249 | -€18,036 | -93.5% |
| Deferred charges and accrued income | 490/1 | - | €1,172 | +€1,172 | |
| Total equity and liabilities | 10/49 | €54,230 | €78,439 | +€24,209 | +44.6% |
| Equity | 10/15 | €16,379 | €63,445 | +€47,066 | +287% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €18 | €44,845 | +€44,827 | +254,700% |
| Non-distributable reserves | 130/1 | €18 | €18 | = | 0.0% |
| Reserves not available under the articles | 1311 | €18 | €18 | = | 0.0% |
| Distributable reserves | 133 | - | €44,827 | +€44,827 | |
| Profit (loss) carried forward | 14 | -€2,239 | €0 | +€2,239 | |
| Amounts payable | 17/49 | €37,851 | €14,994 | -€22,857 | -60.4% |
| Amounts payable within one year | 42/48 | €37,851 | €14,994 | -€22,857 | -60.4% |
| Trade debts | 44 | €7,632 | €116 | -€7,515 | -98.5% |
| Suppliers | 440/4 | €7,632 | €116 | -€7,515 | -98.5% |
| Taxes, remuneration and social security | 45 | €2,934 | €14,878 | +€11,944 | +407% |
| Taxes | 450/3 | - | €11,863 | +€11,863 | |
| Remuneration and social security | 454/9 | €2,934 | €3,015 | +€81 | +2.8% |
| Other amounts payable | 47/48 | €27,285 | €0 | -€27,285 | -100% |
| Remuneration, social security and pensions | 62 | €40,557 | €33,922 | -€6,635 | -16.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,811 | €18,304 | +€493 | +2.8% |
| Other operating charges | 640/8 | €5,519 | €5,757 | +€238 | +4.3% |
| Gross operating margin | 9900 | €137,987 | €115,918 | -€22,069 | -16.0% |
| Operating profit (loss) | 9901 | €74,100 | €57,935 | -€16,165 | -21.8% |
| Financial income | 75/76B | - | €1,182 | +€1,182 | |
| Recurring financial income | 75 | - | €1,182 | +€1,182 | |
| Financial charges | 65/66B | €175 | €189 | +€14 | +7.8% |
| Recurring financial charges | 65 | €175 | €189 | +€14 | +7.8% |
| Profit (loss) for the period before taxes | 9903 | €73,925 | €58,929 | -€14,996 | -20.3% |
| Income taxes | 67/77 | - | €11,863 | +€11,863 | |
| Profit (loss) for the period | 9904 | €73,925 | €47,066 | -€26,859 | -36.3% |
| Profit (loss) for the period to be appropriated | 9905 | €73,925 | €47,066 | -€26,859 | -36.3% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.