MARIVE: 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.
MARIVE
Largest movements
- Cash +€112,723
up €112,723 (+280.5%), from €40,185 to €152,908
mainly Net result for the year (+€205,325) and Depreciation (+€17,710)
- Current investments +€30,000
up €30,000 (+33.3%), from €90,000 to €120,000
- Receivables within one year +€17,866
up €17,866 (+59.1%), from €30,236 to €48,102
of which Other amounts receivable: +€15,000
- Tangible fixed assets -€17,845
down €17,845 (-33.0%), from €54,045 to €36,201
of which Furniture and vehicles: -€16,841
- Deferred charges and accrued income -€3,857
down €3,857 (-68.9%), from €5,596 to €1,738
- Reserves +€130,477
new in 2025: €130,477
- Profit (loss) carried forward +€74,848
no longer reported in 2025 (was -€74,848)
- Other debts -€63,208
down €63,208 (-27.7%), from €228,043 to €164,835
- Tax, wage and social debts +€16,343
new in 2025: €16,343
- Debts after one year -€14,129
down €14,129 (-43.8%), from €32,242 to €18,113
- Financial charges -€163,807
down €163,807 (-93.0%), from €176,077 to €12,270
- Gross operating margin +€135,283
up €135,283 (+114.2%), from €118,499 to €253,781
- Taxes +€18,313
up €18,313 (+42381.8%), from €43 to €18,356
- Depreciation -€9,314
down €9,314 (-34.5%), from €27,024 to €17,710
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 | €220,062 | €358,950 | +€138,888 | +63.1% |
| Fixed assets | 21/28 | €54,045 | €36,201 | -€17,845 | -33.0% |
| Tangible fixed assets | 22/27 | €54,045 | €36,201 | -€17,845 | -33.0% |
| Furniture and vehicles | 24 | €51,982 | €35,142 | -€16,841 | -32.4% |
| Other tangible fixed assets | 26 | €2,063 | €1,059 | -€1,004 | -48.7% |
| Current assets | 29/58 | €166,017 | €322,749 | +€156,732 | +94.4% |
| Amounts receivable within one year | 40/41 | €30,236 | €48,102 | +€17,866 | +59.1% |
| Trade receivables | 40 | €26,736 | €29,602 | +€2,866 | +10.7% |
| Other amounts receivable | 41 | €3,500 | €18,500 | +€15,000 | +428.6% |
| Current investments | 50/53 | €90,000 | €120,000 | +€30,000 | +33.3% |
| Cash at bank and in hand | 54/58 | €40,185 | €152,908 | +€112,723 | +280.5% |
| Deferred charges and accrued income | 490/1 | €5,596 | €1,738 | -€3,857 | -68.9% |
| Total equity and liabilities | 10/49 | €220,062 | €358,950 | +€138,888 | +63.1% |
| Equity | 10/15 | -€61,478 | €143,847 | +€205,325 | |
| Contributions | 10/11 | €13,370 | €13,370 | = | 0.0% |
| Reserves | 13 | - | €130,477 | +€130,477 | |
| Distributable reserves | 133 | - | €130,477 | +€130,477 | |
| Profit (loss) carried forward | 14 | -€74,848 | - | +€74,848 | |
| Amounts payable | 17/49 | €281,540 | €215,103 | -€66,438 | -23.6% |
| Amounts payable after more than one year | 17 | €32,242 | €18,113 | -€14,129 | -43.8% |
| Financial debts | 170/4 | €32,242 | €18,113 | -€14,129 | -43.8% |
| Amounts payable within one year | 42/48 | €249,298 | €196,990 | -€52,308 | -21.0% |
| Current portion of amounts payable after more than one year | 42 | €17,902 | €14,068 | -€3,834 | -21.4% |
| Trade debts | 44 | €3,352 | €1,743 | -€1,609 | -48.0% |
| Suppliers | 440/4 | €3,352 | €1,743 | -€1,609 | -48.0% |
| Taxes, remuneration and social security | 45 | - | €16,343 | +€16,343 | |
| Taxes | 450/3 | - | €16,343 | +€16,343 | |
| Other amounts payable | 47/48 | €228,043 | €164,835 | -€63,208 | -27.7% |
| Accrued charges and deferred income | 492/3 | €0 | - | -€0 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,024 | €17,710 | -€9,314 | -34.5% |
| Other operating charges | 640/8 | €1,297 | €725 | -€571 | -44.1% |
| Gross operating margin | 9900 | €118,499 | €253,781 | +€135,283 | +114.2% |
| Operating profit (loss) | 9901 | €90,178 | €235,346 | +€145,168 | +161.0% |
| Financial income | 75/76B | €528 | €606 | +€78 | +14.9% |
| Recurring financial income | 75 | €528 | €606 | +€78 | +14.9% |
| Financial charges | 65/66B | €176,077 | €12,270 | -€163,807 | -93.0% |
| Recurring financial charges | 65 | €176,077 | €12,270 | -€163,807 | -93.0% |
| Profit (loss) for the period before taxes | 9903 | -€85,372 | €223,682 | +€309,053 | |
| Income taxes | 67/77 | €43 | €18,356 | +€18,313 | +42381.8% |
| Profit (loss) for the period | 9904 | -€85,415 | €205,325 | +€290,740 | |
| Profit (loss) for the period to be appropriated | 9905 | -€85,415 | €205,325 | +€290,740 |
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 3 October 2026 via checked.be.