MARMARIJ: 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.
MARMARIJ
Largest movements
- Receivables within one year -€1.2m
down €1.2m (-84.2%), from €1.4m to €222,976
of which Other amounts receivable: -€1.2m
- Financial fixed assets +€1.2m
up €1.2m (+43.1%), from €2.7m to €3.9m
- Receivables after one year +€1.0m
new in 2025: €1.0m
- Cash +€895,805
up €895,805 (+1773.9%), from €50,500 to €946,305
mainly Net result for the year (+€2.1m) and Receivables within one year (+€1.2m)
- Current investments +€351,339
up €351,339 (+9.6%), from €3.6m to €4.0m
- Reserves +€2.0m
up €2.0m (+26.1%), from €7.7m to €9.7m
of which Distributable reserves: +€2.0m
- Tax, wage and social debts +€243,069
up €243,069 (+44.0%), from €552,810 to €795,879
- Financial income -€3.9m
down €3.9m (-63.2%), from €6.2m to €2.3m
- Taxes -€283,381
down €283,381 (-51.3%), from €552,026 to €268,645
- Gross operating margin +€179,841
up €179,841, from -€48,592 to €131,248
- Financial charges -€44,185
down €44,185 (-49.9%), from €88,464 to €44,278
of which Non-recurring financial charges: -€57,697
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 | €8,710,368 | €11,004,161 | +€2.3m | +26.3% |
| Fixed assets | 21/28 | €3,607,457 | €4,728,936 | +€1.1m | +31.1% |
| Tangible fixed assets | 22/27 | €917,313 | €878,633 | -€38,680 | -4.2% |
| Furniture and vehicles | 24 | €10,946 | €8,266 | -€2,679 | -24.5% |
| Other tangible fixed assets | 26 | €906,368 | €870,367 | -€36,001 | -4.0% |
| Financial fixed assets | 28 | €2,690,143 | €3,850,303 | +€1.2m | +43.1% |
| Current assets | 29/58 | €5,102,911 | €6,275,225 | +€1.2m | +23.0% |
| Amounts receivable after more than one year | 29 | - | €1,034,792 | +€1.0m | |
| Other amounts receivable | 291 | - | €1,034,792 | +€1.0m | |
| Amounts receivable within one year | 40/41 | €1,407,635 | €222,976 | -€1.2m | -84.2% |
| Trade receivables | 40 | €26,501 | €19,372 | -€7,129 | -26.9% |
| Other amounts receivable | 41 | €1,381,134 | €203,603 | -€1.2m | -85.3% |
| Current investments | 50/53 | €3,643,384 | €3,994,723 | +€351,339 | +9.6% |
| Cash at bank and in hand | 54/58 | €50,500 | €946,305 | +€895,805 | +1773.9% |
| Deferred charges and accrued income | 490/1 | €1,392 | €76,430 | +€75,038 | +5389.7% |
| Total equity and liabilities | 10/49 | €8,710,368 | €11,004,161 | +€2.3m | +26.3% |
| Equity | 10/15 | €8,145,823 | €10,141,286 | +€2.0m | +24.5% |
| Contributions | 10/11 | €490,000 | €490,000 | = | 0.0% |
| Reserves | 13 | €7,655,823 | €9,651,286 | +€2.0m | +26.1% |
| Tax-exempt reserves | 132 | €153,365 | €153,365 | = | 0.0% |
| Distributable reserves | 133 | €7,502,458 | €9,497,921 | +€2.0m | +26.6% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €564,545 | €862,875 | +€298,330 | +52.8% |
| Amounts payable within one year | 42/48 | €564,545 | €861,430 | +€296,886 | +52.6% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €11,264 | €1,220 | -€10,044 | -89.2% |
| Suppliers | 440/4 | €11,264 | €1,220 | -€10,044 | -89.2% |
| Taxes, remuneration and social security | 45 | €552,810 | €795,879 | +€243,069 | +44.0% |
| Taxes | 450/3 | €552,810 | €795,879 | +€243,069 | +44.0% |
| Other amounts payable | 47/48 | €471 | €64,332 | +€63,861 | +13560.0% |
| Accrued charges and deferred income | 492/3 | €0 | €1,445 | +€1,445 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,805 | €38,680 | -€125 | -0.3% |
| Other operating charges | 640/8 | €7,963 | €8,741 | +€778 | +9.8% |
| Gross operating margin | 9900 | -€48,592 | €131,248 | +€179,841 | |
| Operating profit (loss) | 9901 | -€95,361 | €83,826 | +€179,187 | |
| Financial income | 75/76B | €6,221,256 | €2,288,421 | -€3.9m | -63.2% |
| Recurring financial income | 75 | €6,221,256 | €2,288,421 | -€3.9m | -63.2% |
| Financial charges | 65/66B | €88,464 | €44,278 | -€44,185 | -49.9% |
| Recurring financial charges | 65 | €1,870 | €15,383 | +€13,512 | +722.4% |
| Non-recurring financial charges | 66B | €86,593 | €28,896 | -€57,697 | -66.6% |
| Profit (loss) for the period before taxes | 9903 | €6,037,432 | €2,327,969 | -€3.7m | -61.4% |
| Income taxes | 67/77 | €552,026 | €268,645 | -€283,381 | -51.3% |
| Profit (loss) for the period | 9904 | €5,485,406 | €2,059,324 | -€3.4m | -62.5% |
| Profit (loss) for the period to be appropriated | 9905 | €5,485,406 | €2,059,324 | -€3.4m | -62.5% |
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 3 October 2026 via checked.be.