MARLINNE: 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.
MARLINNE
Largest movements
- Tangible fixed assets -€40,354
down €40,354 (-7.7%), from €523,679 to €483,326
of which Land and buildings: -€24,127
- Receivables within one year +€18,553
up €18,553 (+1550.1%), from €1,197 to €19,750
of which Trade receivables: +€13,162
- Deferred charges and accrued income +€12,321
up €12,321 (+678.8%), from €1,815 to €14,136
- Cash -€10,459
down €10,459 (-46.4%), from €22,524 to €12,065
mainly Debts after one year (-€34,098) and Receivables within one year (-€18,553)
- Debts after one year -€34,098
down €34,098 (-12.5%), from €273,138 to €239,040
- Profit (loss) carried forward -€17,458
down €17,458 (-11.7%), from -€148,751 to -€166,209
- Other debts +€13,123
up €13,123 (+3.8%), from €341,656 to €354,779
- Trade debts +€12,151
up €12,151 (+185.3%), from €6,559 to €18,710
- Current portion of long-term debt +€6,742
up €6,742 (+13.6%), from €49,586 to €56,329
- Gross operating margin -€7,183
down €7,183 (-11.5%), from €62,420 to €55,237
- Depreciation -€3,405
down €3,405 (-5.5%), from €61,700 to €58,295
- Financial charges -€1,456
down €1,456 (-19.0%), from €7,681 to €6,225
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 | €549,215 | €529,276 | -€19,939 | -3.6% |
| Fixed assets | 21/28 | €523,679 | €483,326 | -€40,354 | -7.7% |
| Tangible fixed assets | 22/27 | €523,679 | €483,326 | -€40,354 | -7.7% |
| Land and buildings | 22 | €390,304 | €366,177 | -€24,127 | -6.2% |
| Plant, machinery and equipment | 23 | €86,065 | €68,872 | -€17,193 | -20.0% |
| Furniture and vehicles | 24 | €13,733 | €24,621 | +€10,888 | +79.3% |
| Leasing and similar rights | 25 | €33,577 | €23,656 | -€9,921 | -29.5% |
| Current assets | 29/58 | €25,536 | €45,950 | +€20,414 | +79.9% |
| Amounts receivable within one year | 40/41 | €1,197 | €19,750 | +€18,553 | +1550.1% |
| Trade receivables | 40 | €761 | €13,923 | +€13,162 | +1729.6% |
| Other amounts receivable | 41 | €436 | €5,827 | +€5,391 | +1236.9% |
| Cash at bank and in hand | 54/58 | €22,524 | €12,065 | -€10,459 | -46.4% |
| Deferred charges and accrued income | 490/1 | €1,815 | €14,136 | +€12,321 | +678.8% |
| Total equity and liabilities | 10/49 | €549,215 | €529,276 | -€19,939 | -3.6% |
| Equity | 10/15 | -€138,751 | -€156,209 | -€17,458 | -12.6% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€148,751 | -€166,209 | -€17,458 | -11.7% |
| Amounts payable | 17/49 | €687,966 | €685,484 | -€2,482 | -0.4% |
| Amounts payable after more than one year | 17 | €273,138 | €239,040 | -€34,098 | -12.5% |
| Financial debts | 170/4 | €273,138 | €239,040 | -€34,098 | -12.5% |
| Amounts payable within one year | 42/48 | €397,961 | €432,233 | +€34,272 | +8.6% |
| Current portion of amounts payable after more than one year | 42 | €49,586 | €56,329 | +€6,742 | +13.6% |
| Trade debts | 44 | €6,559 | €18,710 | +€12,151 | +185.3% |
| Suppliers | 440/4 | €6,559 | €18,710 | +€12,151 | +185.3% |
| Advances received on contracts in progress | 46 | €21 | €1,743 | +€1,722 | +8367.9% |
| Taxes, remuneration and social security | 45 | €140 | €673 | +€534 | +382.5% |
| Taxes | 450/3 | €140 | €673 | +€534 | +382.5% |
| Other amounts payable | 47/48 | €341,656 | €354,779 | +€13,123 | +3.8% |
| Accrued charges and deferred income | 492/3 | €16,867 | €14,212 | -€2,655 | -15.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,700 | €58,295 | -€3,405 | -5.5% |
| Other operating charges | 640/8 | €2,187 | €1,897 | -€290 | -13.3% |
| Non-recurring operating charges | 66A | - | €6,172 | +€6,172 | |
| Gross operating margin | 9900 | €62,420 | €55,237 | -€7,183 | -11.5% |
| Operating profit (loss) | 9901 | -€1,467 | -€11,127 | -€9,659 | -658.3% |
| Financial income | 75/76B | €14 | €7 | -€7 | -49.2% |
| Recurring financial income | 75 | €14 | €7 | -€7 | -49.2% |
| Financial charges | 65/66B | €7,681 | €6,225 | -€1,456 | -19.0% |
| Recurring financial charges | 65 | €7,681 | €6,225 | -€1,456 | -19.0% |
| Profit (loss) for the period before taxes | 9903 | -€9,134 | -€17,345 | -€8,211 | -89.9% |
| Income taxes | 67/77 | €140 | €113 | -€27 | -19.2% |
| Profit (loss) for the period | 9904 | -€9,274 | -€17,458 | -€8,184 | -88.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,274 | -€17,458 | -€8,184 | -88.3% |
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 6 October 2026 via checked.be.