MARINRAIL: 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.
MARINRAIL
Largest movements
- Cash -€223,036
down €223,036 (-97.4%), from €229,020 to €5,985
mainly Trade debts (-€233,272) and Accrued charges and deferred income (-€34,315)
- Receivables within one year -€24,934
down €24,934 (-40.8%), from €61,184 to €36,251
of which Other amounts receivable: -€12,509
- Trade debts -€233,272
no longer reported in 2025 (was €233,272)
- Accrued charges and deferred income -€34,315
no longer reported in 2025 (was €34,315)
- Profit (loss) carried forward +€19,507
up €19,507 (+2.1%), from -€949,613 to -€930,105
- Financial income +€6,945
up €6,945 (+556.2%), from €1,249 to €8,194
- Gross operating margin +€485
up €485 (+4.1%), from €11,803 to €12,288
- Depreciation -€315
down €315 (-83.8%), from €375 to €61
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.
Cash bridge derived
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 | €292,185 | €44,106 | -€248,079 | -84.9% |
| Fixed assets | 21/28 | €61 | - | -€61 | |
| Tangible fixed assets | 22/27 | €61 | - | -€61 | |
| Furniture and vehicles | 24 | €61 | - | -€61 | |
| Current assets | 29/58 | €292,124 | €44,106 | -€248,019 | -84.9% |
| Amounts receivable within one year | 40/41 | €61,184 | €36,251 | -€24,934 | -40.8% |
| Trade receivables | 40 | €33,381 | €20,956 | -€12,424 | -37.2% |
| Other amounts receivable | 41 | €27,804 | €15,294 | -€12,509 | -45.0% |
| Cash at bank and in hand | 54/58 | €229,020 | €5,985 | -€223,036 | -97.4% |
| Deferred charges and accrued income | 490/1 | €1,920 | €1,870 | -€50 | -2.6% |
| Total equity and liabilities | 10/49 | €292,185 | €44,106 | -€248,079 | -84.9% |
| Equity | 10/15 | €24,598 | €44,106 | +€19,507 | +79.3% |
| Contributions | 10/11 | €974,211 | €974,211 | = | 0.0% |
| Capital | 10 | €974,211 | €974,211 | = | 0.0% |
| Issued capital | 100 | €974,211 | €974,211 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€949,613 | -€930,105 | +€19,507 | +2.1% |
| Amounts payable | 17/49 | €267,587 | - | -€267,587 | |
| Amounts payable within one year | 42/48 | €233,272 | - | -€233,272 | |
| Trade debts | 44 | €233,272 | - | -€233,272 | |
| Suppliers | 440/4 | €233,272 | - | -€233,272 | |
| Accrued charges and deferred income | 492/3 | €34,315 | - | -€34,315 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €375 | €61 | -€315 | -83.8% |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | €11,803 | €12,288 | +€485 | +4.1% |
| Operating profit (loss) | 9901 | €10,922 | €11,708 | +€786 | +7.2% |
| Financial income | 75/76B | €1,249 | €8,194 | +€6,945 | +556.2% |
| Recurring financial income | 75 | €1,249 | €8,194 | +€6,945 | +556.2% |
| Financial charges | 65/66B | €309 | €394 | +€86 | +27.8% |
| Recurring financial charges | 65 | €309 | €394 | +€86 | +27.8% |
| Profit (loss) for the period before taxes | 9903 | €11,862 | €19,507 | +€7,645 | +64.4% |
| Profit (loss) for the period | 9904 | €11,862 | €19,507 | +€7,645 | +64.4% |
| Profit (loss) for the period to be appropriated | 9905 | €11,862 | €19,507 | +€7,645 | +64.4% |
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 12 October 2026 via checked.be.