MARIVER: 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.
MARIVER
Largest movements
- Receivables within one year +€34,450
up €34,450 (+7.8%), from €439,517 to €473,967
of which Other amounts receivable: +€24,175
- Cash +€8,641
up €8,641 (+140%), from €6,160 to €14,801
mainly Other debts (+€30,094) and Trade debts (+€16,921)
- Other debts +€30,094
up €30,094, from €0 to €30,094
- Trade debts +€16,921
up €16,921 (+20.6%), from €82,268 to €99,189
- Gross operating margin -€8,256
down €8,256 (-53.1%), from €15,555 to €7,298
- Taxes -€2,908
down €2,908 (-52.8%), from €5,508 to €2,600
- Other operating charges -€555
down €555 (-38.4%), from €1,445 to €889
- Depreciation +€510
up €510 (+5.6%), from €9,185 to €9,696
- Financial charges +€157
up €157 (+170%), from €92 to €249
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 | €731,318 | €775,718 | +€44,400 | +6.1% |
| Fixed assets | 21/28 | €269,214 | €275,259 | +€6,044 | +2.2% |
| Tangible fixed assets | 22/27 | €23,293 | €29,337 | +€6,044 | +25.9% |
| Land and buildings | 22 | - | €2,472 | +€2,472 | |
| Plant, machinery and equipment | 23 | €22,520 | €14,092 | -€8,428 | -37.4% |
| Furniture and vehicles | 24 | €773 | €12,772 | +€12,000 | +1,553% |
| Financial fixed assets | 28 | €245,922 | €245,922 | = | 0.0% |
| Current assets | 29/58 | €462,103 | €500,459 | +€38,356 | +8.3% |
| Stocks and contracts in progress | 3 | €12,960 | €7,430 | -€5,530 | -42.7% |
| Stocks | 30/36 | €12,960 | €7,430 | -€5,530 | -42.7% |
| Amounts receivable within one year | 40/41 | €439,517 | €473,967 | +€34,450 | +7.8% |
| Trade receivables | 40 | €49,648 | €59,922 | +€10,274 | +20.7% |
| Other amounts receivable | 41 | €389,869 | €414,044 | +€24,175 | +6.2% |
| Cash at bank and in hand | 54/58 | €6,160 | €14,801 | +€8,641 | +140% |
| Deferred charges and accrued income | 490/1 | €3,466 | €4,261 | +€795 | +22.9% |
| Total equity and liabilities | 10/49 | €731,318 | €775,718 | +€44,400 | +6.1% |
| Equity | 10/15 | €640,803 | €640,934 | +€131 | 0.0% |
| Contributions | 10/11 | €22,955 | €22,955 | = | 0.0% |
| Reserves | 13 | €549,758 | €549,889 | +€131 | 0.0% |
| Tax-exempt reserves | 132 | €35,400 | €35,400 | = | 0.0% |
| Distributable reserves | 133 | €514,358 | €514,489 | +€131 | 0.0% |
| Profit (loss) carried forward | 14 | €68,090 | €68,090 | = | 0.0% |
| Amounts payable | 17/49 | €90,515 | €134,784 | +€44,269 | +48.9% |
| Amounts payable within one year | 42/48 | €90,515 | €134,784 | +€44,269 | +48.9% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €82,268 | €99,189 | +€16,921 | +20.6% |
| Suppliers | 440/4 | €82,268 | €99,189 | +€16,921 | +20.6% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €8,247 | €5,501 | -€2,746 | -33.3% |
| Taxes | 450/3 | €8,247 | €5,501 | -€2,746 | -33.3% |
| Other amounts payable | 47/48 | €0 | €30,094 | +€30,094 | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,185 | €9,696 | +€510 | +5.6% |
| Other operating charges | 640/8 | €1,445 | €889 | -€555 | -38.4% |
| Gross operating margin | 9900 | €15,555 | €7,298 | -€8,256 | -53.1% |
| Operating profit (loss) | 9901 | €4,925 | -€3,287 | -€8,212 | |
| Financial income | 75/76B | €6,753 | €6,615 | -€138 | -2.0% |
| Recurring financial income | 75 | €6,753 | €6,615 | -€138 | -2.0% |
| Financial charges | 65/66B | €92 | €249 | +€157 | +170% |
| Recurring financial charges | 65 | €92 | €249 | +€157 | +170% |
| Profit (loss) for the period before taxes | 9903 | €11,586 | €3,079 | -€8,507 | -73.4% |
| Income taxes | 67/77 | €5,508 | €2,600 | -€2,908 | -52.8% |
| Profit (loss) for the period | 9904 | €6,078 | €479 | -€5,599 | -92.1% |
| Profit (loss) for the period to be appropriated | 9905 | €6,078 | €479 | -€5,599 | -92.1% |
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 13 October 2026 via checked.be.