MARJAN FISH: 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.
MARJAN FISH
Largest movements
- Receivables within one year +€4,198
up €4,198 (+12.0%), from €34,841 to €39,039
of which Trade receivables: +€4,224
- Cash -€3,692
down €3,692 (-15.0%), from €24,550 to €20,858
mainly Other debts (-€17,710) and Receivables within one year (-€4,198)
- Stocks and contracts +€2,757
up €2,757 (+4.4%), from €62,102 to €64,859
- Profit (loss) carried forward +€20,168
up €20,168 (+53.7%), from €37,566 to €57,734
- Other debts -€17,710
down €17,710 (-35.4%), from €50,000 to €32,290
- Trade debts -€2,663
down €2,663 (-30.7%), from €8,682 to €6,019
- Tax, wage and social debts +€2,395
up €2,395 (+31.0%), from €7,735 to €10,130
of which Taxes: +€2,395
- Other operating charges -€2,249
down €2,249 (-56.6%), from €3,971 to €1,722
- Financial charges -€996
down €996 (-18.4%), from €5,404 to €4,408
- Financial income +€980
up €980 (+9.3%), from €10,519 to €11,499
- Taxes +€794
up €794 (+16.5%), from €4,822 to €5,616
- Gross operating margin -€305
down €305 (-1.4%), from €21,794 to €21,489
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €123,409 | €125,599 | +€2,190 | +1.8% |
| Fixed assets | 21/28 | €1,916 | €843 | -€1,073 | -56.0% |
| Tangible fixed assets | 22/27 | €1,916 | €843 | -€1,073 | -56.0% |
| Plant, machinery and equipment | 23 | €441 | - | -€441 | |
| Furniture and vehicles | 24 | €1,476 | €843 | -€633 | -42.9% |
| Current assets | 29/58 | €121,492 | €124,756 | +€3,264 | +2.7% |
| Stocks and contracts in progress | 3 | €62,102 | €64,859 | +€2,757 | +4.4% |
| Stocks | 30/36 | €62,102 | €64,859 | +€2,757 | +4.4% |
| Amounts receivable within one year | 40/41 | €34,841 | €39,039 | +€4,198 | +12.0% |
| Trade receivables | 40 | €33,201 | €37,425 | +€4,224 | +12.7% |
| Other amounts receivable | 41 | €1,640 | €1,614 | -€26 | -1.6% |
| Cash at bank and in hand | 54/58 | €24,550 | €20,858 | -€3,692 | -15.0% |
| Total equity and liabilities | 10/49 | €123,409 | €125,599 | +€2,190 | +1.8% |
| Equity | 10/15 | €50,426 | €70,594 | +€20,168 | +40.0% |
| Contributions | 10/11 | €11,000 | €11,000 | = | 0.0% |
| Contributions outside capital | 11 | €11,000 | €11,000 | = | 0.0% |
| Other | 1109/19 | €11,000 | €11,000 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €37,566 | €57,734 | +€20,168 | +53.7% |
| Amounts payable | 17/49 | €72,983 | €55,005 | -€17,978 | -24.6% |
| Amounts payable within one year | 42/48 | €72,983 | €55,005 | -€17,978 | -24.6% |
| Current portion of amounts payable after more than one year | 42 | €6,566 | €6,566 | +€0 | 0.0% |
| Trade debts | 44 | €8,682 | €6,019 | -€2,663 | -30.7% |
| Suppliers | 440/4 | €8,682 | €6,019 | -€2,663 | -30.7% |
| Taxes, remuneration and social security | 45 | €7,735 | €10,130 | +€2,395 | +31.0% |
| Taxes | 450/3 | €4,679 | €7,074 | +€2,395 | +51.2% |
| Remuneration and social security | 454/9 | €3,056 | €3,056 | +€0 | 0.0% |
| Other amounts payable | 47/48 | €50,000 | €32,290 | -€17,710 | -35.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,074 | €1,074 | +€0 | 0.0% |
| Other operating charges | 640/8 | €3,971 | €1,722 | -€2,249 | -56.6% |
| Gross operating margin | 9900 | €21,794 | €21,489 | -€305 | -1.4% |
| Operating profit (loss) | 9901 | €16,749 | €18,693 | +€1,944 | +11.6% |
| Financial income | 75/76B | €10,519 | €11,499 | +€980 | +9.3% |
| Recurring financial income | 75 | €10,519 | €11,499 | +€980 | +9.3% |
| Financial charges | 65/66B | €5,404 | €4,408 | -€996 | -18.4% |
| Recurring financial charges | 65 | €5,404 | €4,408 | -€996 | -18.4% |
| Profit (loss) for the period before taxes | 9903 | €21,864 | €25,784 | +€3,920 | +17.9% |
| Income taxes | 67/77 | €4,822 | €5,616 | +€794 | +16.5% |
| Profit (loss) for the period | 9904 | €17,042 | €20,168 | +€3,126 | +18.3% |
| Profit (loss) for the period to be appropriated | 9905 | €17,042 | €20,168 | +€3,126 | +18.3% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.