MARISUGNY: 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.
MARISUGNY
Largest movements
- Cash -€579,749
down €579,749 (-60.3%), from €960,761 to €381,012
mainly Contributions, distributions and other (-€1.1m) and Current investments (-€500,000)
- Current investments +€500,000
new in 2025: €500,000
- Tangible fixed assets +€43,558
up €43,558 (+864.1%), from €5,041 to €48,598
of which Furniture and vehicles: +€43,337
- Reserves -€173,988
down €173,988 (-98.9%), from €175,848 to €1,860
of which Distributable reserves: -€173,988
- Other debts +€149,294
up €149,294 (+19.5%), from €764,863 to €914,157
- Gross operating margin +€181,446
up €181,446 (+18.2%), from €995,973 to €1.2m
- Taxes +€43,504
up €43,504 (+17.6%), from €247,301 to €290,805
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 | €1,018,593 | €985,583 | -€33,010 | -3.2% |
| Fixed assets | 21/28 | €5,133 | €48,690 | +€43,558 | +848.6% |
| Tangible fixed assets | 22/27 | €5,041 | €48,598 | +€43,558 | +864.1% |
| Plant, machinery and equipment | 23 | €833 | €1,053 | +€220 | +26.5% |
| Furniture and vehicles | 24 | €4,208 | €47,545 | +€43,337 | +1030.0% |
| Financial fixed assets | 28 | €92 | €92 | = | 0.0% |
| Current assets | 29/58 | €1,013,460 | €936,892 | -€76,568 | -7.6% |
| Amounts receivable within one year | 40/41 | €52,699 | €52,927 | +€227 | +0.4% |
| Other amounts receivable | 41 | €52,699 | €52,927 | +€227 | +0.4% |
| Current investments | 50/53 | - | €500,000 | +€500,000 | |
| Cash at bank and in hand | 54/58 | €960,761 | €381,012 | -€579,749 | -60.3% |
| Deferred charges and accrued income | 490/1 | - | €2,953 | +€2,953 | |
| Total equity and liabilities | 10/49 | €1,018,593 | €985,583 | -€33,010 | -3.2% |
| Equity | 10/15 | €194,448 | €20,460 | -€173,988 | -89.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €175,848 | €1,860 | -€173,988 | -98.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €173,988 | - | -€173,988 | |
| Amounts payable | 17/49 | €824,144 | €965,123 | +€140,978 | +17.1% |
| Amounts payable within one year | 42/48 | €824,144 | €965,123 | +€140,978 | +17.1% |
| Trade debts | 44 | €1,624 | €633 | -€990 | -61.0% |
| Suppliers | 440/4 | €1,624 | €633 | -€990 | -61.0% |
| Taxes, remuneration and social security | 45 | €57,658 | €50,332 | -€7,326 | -12.7% |
| Taxes | 450/3 | €57,658 | €50,332 | -€7,326 | -12.7% |
| Other amounts payable | 47/48 | €764,863 | €914,157 | +€149,294 | +19.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,565 | €2,643 | +€1,078 | +68.9% |
| Other operating charges | 640/8 | €712 | €1,044 | +€332 | +46.6% |
| Gross operating margin | 9900 | €995,973 | €1,177,418 | +€181,446 | +18.2% |
| Operating profit (loss) | 9901 | €993,696 | €1,173,732 | +€180,035 | +18.1% |
| Financial income | 75/76B | - | €4,278 | +€4,278 | |
| Recurring financial income | 75 | - | €4,278 | +€4,278 | |
| Financial charges | 65/66B | €228 | €255 | +€27 | +11.8% |
| Recurring financial charges | 65 | €228 | €255 | +€27 | +11.8% |
| Profit (loss) for the period before taxes | 9903 | €993,468 | €1,177,755 | +€184,287 | +18.5% |
| Income taxes | 67/77 | €247,301 | €290,805 | +€43,504 | +17.6% |
| Profit (loss) for the period | 9904 | €746,167 | €886,950 | +€140,783 | +18.9% |
| Profit (loss) for the period to be appropriated | 9905 | €746,167 | €886,950 | +€140,783 | +18.9% |
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.