MARINUS: 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.
MARINUS
Largest movements
- Tangible fixed assets -€37,579
down €37,579 (-32.1%), from €116,988 to €79,409
of which Furniture and vehicles: -€39,139
- Receivables within one year +€19,262
up €19,262 (+46.8%), from €41,166 to €60,427
of which Trade receivables: +€24,390
- Cash -€4,917
down €4,917 (-8.3%), from €59,194 to €54,277
mainly Debts after one year (-€23,440) and Receivables within one year (-€19,262)
- Debts after one year -€23,440
down €23,440 (-26.2%), from €89,358 to €65,918
- Trade debts -€18,993
down €18,993 (-59.3%), from €32,018 to €13,025
- Tax, wage and social debts +€12,578
up €12,578 (+35.4%), from €35,556 to €48,134
of which Remuneration and social security: +€8,791
- Profit (loss) carried forward +€8,237
up €8,237 (+38.5%), from -€21,382 to -€13,145
- Current portion of long-term debt -€3,337
down €3,337 (-11.8%), from €28,196 to €24,860
- Gross operating margin +€29,875
up €29,875 (+86.3%), from €34,617 to €64,492
- Other operating charges +€1,583
up €1,583 (+36.6%), from €4,325 to €5,908
- Financial charges -€1,018
down €1,018 (-16.8%), from €6,045 to €5,027
- Staff costs -€824
down €824 (-17.4%), from €4,738 to €3,914
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 | €223,845 | €198,890 | -€24,955 | -11.1% |
| Fixed assets | 21/28 | €118,380 | €80,431 | -€37,949 | -32.1% |
| Intangible fixed assets | 21 | €1,110 | €740 | -€370 | -33.3% |
| Tangible fixed assets | 22/27 | €116,988 | €79,409 | -€37,579 | -32.1% |
| Land and buildings | 22 | €1,694 | €1,381 | -€313 | -18.5% |
| Plant, machinery and equipment | 23 | €2,108 | €3,981 | +€1,872 | +88.8% |
| Furniture and vehicles | 24 | €113,186 | €74,047 | -€39,139 | -34.6% |
| Financial fixed assets | 28 | €283 | €283 | = | 0.0% |
| Current assets | 29/58 | €105,464 | €118,459 | +€12,994 | +12.3% |
| Stocks and contracts in progress | 3 | €1,754 | €487 | -€1,267 | -72.2% |
| Stocks | 30/36 | €1,754 | €487 | -€1,267 | -72.2% |
| Amounts receivable within one year | 40/41 | €41,166 | €60,427 | +€19,262 | +46.8% |
| Trade receivables | 40 | €28,818 | €53,208 | +€24,390 | +84.6% |
| Other amounts receivable | 41 | €12,348 | €7,219 | -€5,128 | -41.5% |
| Cash at bank and in hand | 54/58 | €59,194 | €54,277 | -€4,917 | -8.3% |
| Deferred charges and accrued income | 490/1 | €3,350 | €3,267 | -€83 | -2.5% |
| Total equity and liabilities | 10/49 | €223,845 | €198,890 | -€24,955 | -11.1% |
| Equity | 10/15 | €38,716 | €46,953 | +€8,237 | +21.3% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €41,506 | €41,506 | = | 0.0% |
| Distributable reserves | 133 | €41,506 | €41,506 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€21,382 | -€13,145 | +€8,237 | +38.5% |
| Amounts payable | 17/49 | €185,128 | €151,937 | -€33,192 | -17.9% |
| Amounts payable after more than one year | 17 | €89,358 | €65,918 | -€23,440 | -26.2% |
| Financial debts | 170/4 | €89,358 | €65,918 | -€23,440 | -26.2% |
| Amounts payable within one year | 42/48 | €95,770 | €86,019 | -€9,751 | -10.2% |
| Current portion of amounts payable after more than one year | 42 | €28,196 | €24,860 | -€3,337 | -11.8% |
| Trade debts | 44 | €32,018 | €13,025 | -€18,993 | -59.3% |
| Suppliers | 440/4 | €32,018 | €13,025 | -€18,993 | -59.3% |
| Taxes, remuneration and social security | 45 | €35,556 | €48,134 | +€12,578 | +35.4% |
| Taxes | 450/3 | €3,947 | €7,734 | +€3,786 | +95.9% |
| Remuneration and social security | 454/9 | €31,609 | €40,400 | +€8,791 | +27.8% |
| Non-recurring operating income | 76A | - | €6 | +€6 | |
| Remuneration, social security and pensions | 62 | €4,738 | €3,914 | -€824 | -17.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,368 | €41,545 | +€177 | +0.4% |
| Other operating charges | 640/8 | €4,325 | €5,908 | +€1,583 | +36.6% |
| Gross operating margin | 9900 | €34,617 | €64,492 | +€29,875 | +86.3% |
| Operating profit (loss) | 9901 | -€15,815 | €13,125 | +€28,940 | |
| Financial income | 75/76B | €478 | €138 | -€339 | -71.0% |
| Recurring financial income | 75 | €478 | €138 | -€339 | -71.0% |
| Financial charges | 65/66B | €6,045 | €5,027 | -€1,018 | -16.8% |
| Recurring financial charges | 65 | €6,045 | €5,027 | -€1,018 | -16.8% |
| Profit (loss) for the period before taxes | 9903 | -€21,382 | €8,237 | +€29,619 | |
| Profit (loss) for the period | 9904 | -€21,382 | €8,237 | +€29,619 | |
| Profit (loss) for the period to be appropriated | 9905 | -€21,382 | €8,237 | +€29,619 |
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 7 October 2026 via checked.be.