MARIUS 1948: 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.
MARIUS 1948
Largest movements
- Tangible fixed assets +€1.2m
up €1.2m (+28.0%), from €4.4m to €5.7m
of which Land and buildings: +€917,039
- Debts after one year +€852,085
up €852,085 (+29.8%), from €2.9m to €3.7m
of which Financial debts: +€852,204
- Other debts +€668,607
up €668,607 (+38.4%), from €1.7m to €2.4m
- Profit (loss) carried forward -€308,238
down €308,238 (-57.3%), from -€538,270 to -€846,508
- Financial charges +€72,112
up €72,112 (+39.4%), from €183,031 to €255,143
- Gross operating margin +€69,502
up €69,502 (+94.4%), from €73,652 to €143,153
- Depreciation +€66,996
up €66,996 (+59.4%), from €112,726 to €179,722
- Other operating charges +€5,320
up €5,320 (+47.0%), from €11,325 to €16,645
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 | €4,458,938 | €5,706,367 | +€1.2m | +28.0% |
| Fixed assets | 21/28 | €4,441,822 | €5,687,984 | +€1.2m | +28.1% |
| Tangible fixed assets | 22/27 | €4,441,822 | €5,687,531 | +€1.2m | +28.0% |
| Land and buildings | 22 | €3,095,047 | €4,012,086 | +€917,039 | +29.6% |
| Plant, machinery and equipment | 23 | €1,346,776 | €1,675,445 | +€328,670 | +24.4% |
| Financial fixed assets | 28 | - | €453 | +€453 | |
| Current assets | 29/58 | €17,115 | €18,383 | +€1,268 | +7.4% |
| Amounts receivable within one year | 40/41 | €5,350 | €10,040 | +€4,690 | +87.7% |
| Trade receivables | 40 | €4,043 | €4,094 | +€52 | +1.3% |
| Other amounts receivable | 41 | €1,308 | €5,946 | +€4,638 | +355% |
| Cash at bank and in hand | 54/58 | €11,765 | €7,261 | -€4,504 | -38.3% |
| Deferred charges and accrued income | 490/1 | - | €1,082 | +€1,082 | |
| Total equity and liabilities | 10/49 | €4,458,938 | €5,706,367 | +€1.2m | +28.0% |
| Equity | 10/15 | -€513,270 | -€821,508 | -€308,238 | -60.1% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€538,270 | -€846,508 | -€308,238 | -57.3% |
| Amounts payable | 17/49 | €4,972,208 | €6,527,875 | +€1.6m | +31.3% |
| Amounts payable after more than one year | 17 | €2,857,826 | €3,709,912 | +€852,085 | +29.8% |
| Financial debts | 170/4 | €2,857,707 | €3,709,912 | +€852,204 | +29.8% |
| Other amounts payable | 178/9 | €119 | - | -€119 | |
| Amounts payable within one year | 42/48 | €2,114,382 | €2,817,964 | +€703,582 | +33.3% |
| Current portion of amounts payable after more than one year | 42 | €111,113 | €140,385 | +€29,272 | +26.3% |
| Financial debts | 43 | €210,000 | €210,000 | = | 0.0% |
| Credit institutions | 430/8 | €210,000 | €210,000 | = | 0.0% |
| Trade debts | 44 | - | €7,786 | +€7,786 | |
| Suppliers | 440/4 | - | €7,786 | +€7,786 | |
| Advances received on contracts in progress | 46 | €51,500 | €51,500 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €2,083 | - | -€2,083 | |
| Taxes | 450/3 | €2,083 | - | -€2,083 | |
| Other amounts payable | 47/48 | €1,739,686 | €2,408,293 | +€668,607 | +38.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €112,726 | €179,722 | +€66,996 | +59.4% |
| Other operating charges | 640/8 | €11,325 | €16,645 | +€5,320 | +47.0% |
| Gross operating margin | 9900 | €73,652 | €143,153 | +€69,502 | +94.4% |
| Operating profit (loss) | 9901 | -€50,399 | -€53,214 | -€2,814 | -5.6% |
| Financial income | 75/76B | - | €119 | +€119 | |
| Recurring financial income | 75 | - | €119 | +€119 | |
| Non-recurring financial income | 76B | - | €119 | +€119 | |
| Financial charges | 65/66B | €183,031 | €255,143 | +€72,112 | +39.4% |
| Recurring financial charges | 65 | €183,031 | €255,143 | +€72,112 | +39.4% |
| Profit (loss) for the period before taxes | 9903 | -€233,431 | -€308,238 | -€74,807 | -32.0% |
| Profit (loss) for the period | 9904 | -€233,431 | -€308,238 | -€74,807 | -32.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€233,431 | -€308,238 | -€74,807 | -32.0% |
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 14 October 2026 via checked.be.