MARLIES: 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.
What changed
MARLIES
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€55,028
2024 · €180,403-€125,375
Equity
€5.1m
2024 · €5.0m+€55,028
Cash
€777,249
2024 · €832,011-€54,763
Balance sheet total
€9.3m
2024 · €9.5m-€173,636
Largest movements
Assets
- Tangible fixed assets -€120,784
down €120,784 (-1.8%), from €6.7m to €6.6m
of which Land and buildings: -€108,988
Equity and liabilities
- Debts after one year -€122,810
down €122,810 (-3.6%), from €3.4m to €3.3m
Income statement
- Financial charges +€141,913
up €141,913 (+236.5%), from €60,016 to €201,929
- Taxes -€45,505
down €45,505 (-64.2%), from €70,870 to €25,365
- Financial income -€33,649
down €33,649 (-66.7%), from €50,434 to €16,785
- Depreciation -€20,248
down €20,248 (-14.2%), from €142,131 to €121,883
- Other operating charges +€8,199
up €8,199 (+14.4%), from €56,891 to €65,090
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.
Result 2024
€180,403
Gross operating margin
-€7,366
Depreciation
+€20,248
Other operating charges
-€8,199
Financial income
-€33,649
Financial charges
-€141,913
Taxes
+€45,505
Result 2025
€55,028
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.
From operations
+€76,023
Investment
-€8,631
Financing
-€122,155
Cash 2024
€832,011
From operations (derived)
+€76,023
Net result for the year
+€55,028
Depreciation
+€121,883
Receivables within one year
+€5,621
Provisions
-€8,361
Trade debts
+€894
Tax, wage and social debts
-€55,740
Other debts
-€43,302
Investment (derived)
-€8,631
Investment in fixed assets (net)
-€1,099
Current investments
-€7,532
Financing
-€122,155
Debts after one year
-€122,810
Current portion of long-term debt
+€655
Cash 2025
€777,249
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,458,891 | €9,285,255 | -€173,636 | -1.8% |
| Fixed assets | 21/28 | €6,722,436 | €6,601,652 | -€120,784 | -1.8% |
| Tangible fixed assets | 22/27 | €6,722,436 | €6,601,652 | -€120,784 | -1.8% |
| Land and buildings | 22 | €6,410,017 | €6,301,029 | -€108,988 | -1.7% |
| Plant, machinery and equipment | 23 | €247,171 | €235,587 | -€11,584 | -4.7% |
| Furniture and vehicles | 24 | €63,464 | €63,691 | +€227 | +0.4% |
| Other tangible fixed assets | 26 | €1,784 | €1,344 | -€440 | -24.7% |
| Current assets | 29/58 | €2,736,455 | €2,683,604 | -€52,852 | -1.9% |
| Amounts receivable after more than one year | 29 | €186,072 | €186,072 | = | 0.0% |
| Other amounts receivable | 291 | €186,072 | €186,072 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €223,684 | €218,063 | -€5,621 | -2.5% |
| Trade receivables | 40 | €35,217 | - | -€35,217 | |
| Other amounts receivable | 41 | €188,466 | €218,063 | +€29,596 | +15.7% |
| Current investments | 50/53 | €1,494,688 | €1,502,220 | +€7,532 | +0.5% |
| Cash at bank and in hand | 54/58 | €832,011 | €777,249 | -€54,763 | -6.6% |
| Total equity and liabilities | 10/49 | €9,458,891 | €9,285,255 | -€173,636 | -1.8% |
| Equity | 10/15 | €5,039,866 | €5,094,894 | +€55,028 | +1.1% |
| Contributions | 10/11 | €349,998 | €349,998 | = | 0.0% |
| Capital | 10 | €250,923 | €250,923 | = | 0.0% |
| Issued capital | 100 | €250,923 | €250,923 | = | 0.0% |
| Outside capital | 11 | €99,075 | €99,075 | = | 0.0% |
| Share premium | 1100/10 | €99,075 | €99,075 | = | 0.0% |
| Reserves | 13 | €4,015,656 | €4,070,684 | +€55,028 | +1.4% |
| Non-distributable reserves | 130/1 | €25,092 | €25,092 | = | 0.0% |
| Legal reserve | 130 | €25,092 | €25,092 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,191,384 | €1,175,239 | -€16,145 | -1.4% |
| Distributable reserves | 133 | €2,799,179 | €2,870,352 | +€71,173 | +2.5% |
| Profit (loss) carried forward | 14 | €674,212 | €674,212 | = | 0.0% |
| Provisions and deferred taxes | 16 | €472,918 | €464,557 | -€8,361 | -1.8% |
| Deferred taxes | 168 | €472,918 | €464,557 | -€8,361 | -1.8% |
| Amounts payable | 17/49 | €3,946,107 | €3,725,804 | -€220,303 | -5.6% |
| Amounts payable after more than one year | 17 | €3,434,308 | €3,311,498 | -€122,810 | -3.6% |
| Financial debts | 170/4 | €3,434,308 | €3,311,498 | -€122,810 | -3.6% |
| Amounts payable within one year | 42/48 | €511,800 | €414,307 | -€97,493 | -19.0% |
| Current portion of amounts payable after more than one year | 42 | €122,155 | €122,810 | +€655 | +0.5% |
| Trade debts | 44 | €4,999 | €5,893 | +€894 | +17.9% |
| Suppliers | 440/4 | €4,999 | €5,893 | +€894 | +17.9% |
| Taxes, remuneration and social security | 45 | €55,740 | - | -€55,740 | |
| Taxes | 450/3 | €55,740 | - | -€55,740 | |
| Other amounts payable | 47/48 | €328,905 | €285,603 | -€43,302 | -13.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €142,131 | €121,883 | -€20,248 | -14.2% |
| Other operating charges | 640/8 | €56,891 | €65,090 | +€8,199 | +14.4% |
| Gross operating margin | 9900 | €451,517 | €444,150 | -€7,366 | -1.6% |
| Operating profit (loss) | 9901 | €252,495 | €257,177 | +€4,682 | +1.9% |
| Financial income | 75/76B | €50,434 | €16,785 | -€33,649 | -66.7% |
| Recurring financial income | 75 | €50,434 | €16,785 | -€33,649 | -66.7% |
| Financial charges | 65/66B | €60,016 | €201,929 | +€141,913 | +236.5% |
| Recurring financial charges | 65 | €60,016 | €201,929 | +€141,913 | +236.5% |
| Profit (loss) for the period before taxes | 9903 | €242,913 | €72,032 | -€170,881 | -70.3% |
| Transfer from deferred taxes | 780 | €8,361 | €8,361 | = | 0.0% |
| Income taxes | 67/77 | €70,870 | €25,365 | -€45,505 | -64.2% |
| Profit (loss) for the period | 9904 | €180,403 | €55,028 | -€125,375 | -69.5% |
| Transfer from tax-exempt reserves | 789 | €16,145 | €16,145 | -€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €196,548 | €71,173 | -€125,375 | -63.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.