MARIVAL: 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.
MARIVAL
Largest movements
- Cash -€2,283
down €2,283 (-96.3%), from €2,371 to €89
mainly Net result for the year (-€7,858) and Deferred charges and accrued income (-€268)
- Receivables within one year -€1,779
down €1,779 (-9.6%), from €18,454 to €16,676
of which Trade receivables: -€5,800
- Financial fixed assets -€1,000
down €1,000 (-16.3%), from €6,130 to €5,130
- Tangible fixed assets +€353
up €353 (+58.0%), from €609 to €962
- Profit (loss) carried forward -€7,858
down €7,858 (-45.7%), from €17,206 to €9,348
- Trade debts +€3,438
up €3,438 (+178%), from €1,933 to €5,371
- Gross operating margin -€12,240
down €12,240, from €6,337 to -€5,903
- Other operating charges -€461
down €461 (-38.3%), from €1,205 to €744
- Depreciation -€189
down €189 (-17.4%), from €1,084 to €895
- Financial charges -€115
no longer reported in 2025 (was €115)
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 | €28,208 | €23,767 | -€4,440 | -15.7% |
| Fixed assets | 21/28 | €6,739 | €6,091 | -€647 | -9.6% |
| Tangible fixed assets | 22/27 | €609 | €962 | +€353 | +58.0% |
| Furniture and vehicles | 24 | €609 | €962 | +€353 | +58.0% |
| Financial fixed assets | 28 | €6,130 | €5,130 | -€1,000 | -16.3% |
| Current assets | 29/58 | €21,469 | €17,676 | -€3,793 | -17.7% |
| Amounts receivable within one year | 40/41 | €18,454 | €16,676 | -€1,779 | -9.6% |
| Trade receivables | 40 | €13,981 | €8,181 | -€5,800 | -41.5% |
| Other amounts receivable | 41 | €4,473 | €8,494 | +€4,021 | +89.9% |
| Cash at bank and in hand | 54/58 | €2,371 | €89 | -€2,283 | -96.3% |
| Deferred charges and accrued income | 490/1 | €643 | €912 | +€268 | +41.7% |
| Total equity and liabilities | 10/49 | €28,208 | €23,767 | -€4,440 | -15.7% |
| Equity | 10/15 | €25,266 | €17,408 | -€7,858 | -31.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €17,206 | €9,348 | -€7,858 | -45.7% |
| Amounts payable | 17/49 | €2,941 | €6,359 | +€3,418 | +116% |
| Amounts payable within one year | 42/48 | €2,941 | €6,359 | +€3,418 | +116% |
| Trade debts | 44 | €1,933 | €5,371 | +€3,438 | +178% |
| Suppliers | 440/4 | €1,933 | €5,371 | +€3,438 | +178% |
| Taxes, remuneration and social security | 45 | €1,008 | €988 | -€20 | -2.0% |
| Taxes | 450/3 | €1,008 | €988 | -€20 | -2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,084 | €895 | -€189 | -17.4% |
| Other operating charges | 640/8 | €1,205 | €744 | -€461 | -38.3% |
| Gross operating margin | 9900 | €6,337 | -€5,903 | -€12,240 | |
| Operating profit (loss) | 9901 | €4,048 | -€7,542 | -€11,590 | |
| Financial income | 75/76B | €0 | €0 | = | 0.0% |
| Recurring financial income | 75 | €0 | €0 | = | 0.0% |
| Financial charges | 65/66B | €115 | - | -€115 | |
| Recurring financial charges | 65 | €115 | - | -€115 | |
| Profit (loss) for the period before taxes | 9903 | €3,933 | -€7,542 | -€11,475 | |
| Income taxes | 67/77 | €330 | €316 | -€14 | -4.3% |
| Profit (loss) for the period | 9904 | €3,603 | -€7,858 | -€11,461 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,603 | -€7,858 | -€11,461 |
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 16 October 2026 via checked.be.