MARLIBO: 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.
MARLIBO
Largest movements
- Cash -€873,138
down €873,138 (-87.8%), from €994,796 to €121,658
mainly Contributions, distributions and other (-€2.0m) and Receivables within one year (-€691,842)
- Receivables within one year +€691,842
up €691,842 (+169.5%), from €408,158 to €1.1m
of which Other amounts receivable: +€699,707
- Current investments -€302,800
down €302,800 (-46.2%), from €654,813 to €352,013
- Financial fixed assets -€220,006
down €220,006 (-10.9%), from €2.0m to €1.8m
- Reserves -€1.6m
down €1.6m (-38.5%), from €4.1m to €2.5m
of which Distributable reserves: -€1.6m
- Other debts +€1.2m
up €1.2m (+15516.8%), from €7,983 to €1.2m
- Debts after one year -€400,000
down €400,000 (-100.0%), from €400,000 to €0
- Financial income +€350,751
up €350,751 (+173.1%), from €202,681 to €553,433
- Financial charges +€29,757
up €29,757 (+53.9%), from €55,217 to €84,974
- Taxes +€26,099
up €26,099 (+167.5%), from €15,584 to €41,683
- Gross operating margin +€14,125
up €14,125 (+107.0%), from €13,195 to €27,321
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 | €4,558,707 | €3,853,540 | -€705,167 | -15.5% |
| Fixed assets | 21/28 | €2,500,941 | €2,242,639 | -€258,302 | -10.3% |
| Tangible fixed assets | 22/27 | €480,935 | €442,639 | -€38,296 | -8.0% |
| Land and buildings | 22 | €374,841 | €364,566 | -€10,275 | -2.7% |
| Plant, machinery and equipment | 23 | €408 | €0 | -€408 | -100.0% |
| Furniture and vehicles | 24 | €105,687 | €78,073 | -€27,613 | -26.1% |
| Financial fixed assets | 28 | €2,020,006 | €1,800,000 | -€220,006 | -10.9% |
| Current assets | 29/58 | €2,057,766 | €1,610,901 | -€446,865 | -21.7% |
| Amounts receivable within one year | 40/41 | €408,158 | €1,100,000 | +€691,842 | +169.5% |
| Trade receivables | 40 | €7,865 | €0 | -€7,865 | -100.0% |
| Other amounts receivable | 41 | €400,293 | €1,100,000 | +€699,707 | +174.8% |
| Current investments | 50/53 | €654,813 | €352,013 | -€302,800 | -46.2% |
| Cash at bank and in hand | 54/58 | €994,796 | €121,658 | -€873,138 | -87.8% |
| Deferred charges and accrued income | 490/1 | - | €37,230 | +€37,230 | |
| Total equity and liabilities | 10/49 | €4,558,707 | €3,853,540 | -€705,167 | -15.5% |
| Equity | 10/15 | €4,135,383 | €2,547,454 | -€1.6m | -38.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €4,122,983 | €2,535,054 | -€1.6m | -38.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €4,121,123 | €2,533,194 | -€1.6m | -38.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €423,324 | €1,306,086 | +€882,763 | +208.5% |
| Amounts payable after more than one year | 17 | €400,000 | €0 | -€400,000 | -100.0% |
| Financial debts | 170/4 | €400,000 | €0 | -€400,000 | -100.0% |
| Amounts payable within one year | 42/48 | €23,324 | €1,306,086 | +€1.3m | +5499.8% |
| Trade debts | 44 | €1,592 | €1,028 | -€564 | -35.4% |
| Suppliers | 440/4 | €1,592 | €1,028 | -€564 | -35.4% |
| Taxes, remuneration and social security | 45 | €13,749 | €58,421 | +€44,672 | +324.9% |
| Taxes | 450/3 | €13,749 | €58,421 | +€44,672 | +324.9% |
| Other amounts payable | 47/48 | €7,983 | €1,246,637 | +€1.2m | +15516.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,333 | €38,296 | -€37 | -0.1% |
| Other operating charges | 640/8 | €3,705 | €3,730 | +€25 | +0.7% |
| Gross operating margin | 9900 | €13,195 | €27,321 | +€14,125 | +107.0% |
| Operating profit (loss) | 9901 | -€28,843 | -€14,705 | +€14,138 | +49.0% |
| Financial income | 75/76B | €202,681 | €553,433 | +€350,751 | +173.1% |
| Recurring financial income | 75 | €202,681 | €553,433 | +€350,751 | +173.1% |
| Financial charges | 65/66B | €55,217 | €84,974 | +€29,757 | +53.9% |
| Recurring financial charges | 65 | €55,217 | €84,974 | +€29,757 | +53.9% |
| Profit (loss) for the period before taxes | 9903 | €118,621 | €453,753 | +€335,132 | +282.5% |
| Income taxes | 67/77 | €15,584 | €41,683 | +€26,099 | +167.5% |
| Profit (loss) for the period | 9904 | €103,037 | €412,070 | +€309,033 | +299.9% |
| Profit (loss) for the period to be appropriated | 9905 | €103,037 | €412,070 | +€309,033 | +299.9% |
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 7 October 2026 via checked.be.