MARMEX: 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.
MARMEX
Largest movements
- Cash -€51,190
no longer reported in 2025 (was €51,190)
mainly Investment in fixed assets (net) (-€78,046) and Receivables within one year (-€28,118)
- Tangible fixed assets +€42,884
up €42,884 (+92.6%), from €46,323 to €89,207
of which Plant, machinery and equipment: +€43,599
- Receivables within one year +€28,118
up €28,118 (+22.2%), from €126,814 to €154,932
of which Trade receivables: +€32,104
- Stocks and contracts +€12,550
up €12,550 (+82.0%), from €15,301 to €27,851
- Trade debts +€33,414
up €33,414 (+108%), from €31,048 to €64,461
- Tax, wage and social debts -€19,789
down €19,789 (-65.9%), from €30,049 to €10,260
of which Remuneration and social security: -€12,613
- Profit (loss) carried forward +€9,510
up €9,510 (+7.1%), from €133,130 to €142,639
- Short-term financial debts +€6,264
new in 2025: €6,264
- Advances received +€5,708
up €5,708 (+114%), from €5,006 to €10,714
- Staff costs -€18,300
down €18,300 (-58.7%), from €31,155 to €12,855
- Gross operating margin -€13,970
down €13,970 (-16.6%), from €84,123 to €70,153
- Depreciation +€13,584
up €13,584 (+63.0%), from €21,578 to €35,162
- Other operating charges +€4,949
up €4,949 (+146%), from €3,386 to €8,335
- Taxes -€4,815
down €4,815 (-63.9%), from €7,537 to €2,722
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.
Derived cash bridge
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 | €242,671 | €277,426 | +€34,755 | +14.3% |
| Fixed assets | 21/28 | €46,323 | €89,207 | +€42,884 | +92.6% |
| Tangible fixed assets | 22/27 | €46,323 | €89,207 | +€42,884 | +92.6% |
| Plant, machinery and equipment | 23 | €32,941 | €76,540 | +€43,599 | +132% |
| Furniture and vehicles | 24 | €10,792 | €10,723 | -€68 | -0.6% |
| Other tangible fixed assets | 26 | €2,590 | €1,943 | -€647 | -25.0% |
| Current assets | 29/58 | €196,349 | €188,219 | -€8,129 | -4.1% |
| Stocks and contracts in progress | 3 | €15,301 | €27,851 | +€12,550 | +82.0% |
| Stocks | 30/36 | €15,301 | €27,851 | +€12,550 | +82.0% |
| Amounts receivable within one year | 40/41 | €126,814 | €154,932 | +€28,118 | +22.2% |
| Trade receivables | 40 | €122,207 | €154,310 | +€32,104 | +26.3% |
| Other amounts receivable | 41 | €4,607 | €621 | -€3,985 | -86.5% |
| Cash at bank and in hand | 54/58 | €51,190 | - | -€51,190 | |
| Deferred charges and accrued income | 490/1 | €3,045 | €5,437 | +€2,392 | +78.6% |
| Total equity and liabilities | 10/49 | €242,671 | €277,426 | +€34,755 | +14.3% |
| Equity | 10/15 | €164,590 | €174,099 | +€9,510 | +5.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €12,860 | €12,860 | = | 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% |
| Tax-exempt reserves | 132 | €11,000 | €11,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €133,130 | €142,639 | +€9,510 | +7.1% |
| Amounts payable | 17/49 | €78,081 | €103,327 | +€25,245 | +32.3% |
| Amounts payable within one year | 42/48 | €78,081 | €103,327 | +€25,245 | +32.3% |
| Financial debts | 43 | - | €6,264 | +€6,264 | |
| Credit institutions | 430/8 | - | €6,264 | +€6,264 | |
| Trade debts | 44 | €31,048 | €64,461 | +€33,414 | +108% |
| Suppliers | 440/4 | €31,048 | €64,461 | +€33,414 | +108% |
| Advances received on contracts in progress | 46 | €5,006 | €10,714 | +€5,708 | +114% |
| Taxes, remuneration and social security | 45 | €30,049 | €10,260 | -€19,789 | -65.9% |
| Taxes | 450/3 | €17,435 | €10,260 | -€7,176 | -41.2% |
| Remuneration and social security | 454/9 | €12,613 | - | -€12,613 | |
| Other amounts payable | 47/48 | €11,979 | €11,628 | -€351 | -2.9% |
| Remuneration, social security and pensions | 62 | €31,155 | €12,855 | -€18,300 | -58.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,578 | €35,162 | +€13,584 | +63.0% |
| Other operating charges | 640/8 | €3,386 | €8,335 | +€4,949 | +146% |
| Gross operating margin | 9900 | €84,123 | €70,153 | -€13,970 | -16.6% |
| Operating profit (loss) | 9901 | €28,005 | €13,802 | -€14,203 | -50.7% |
| Financial income | 75/76B | €38 | €16 | -€22 | -57.9% |
| Recurring financial income | 75 | €38 | €16 | -€22 | -57.9% |
| Financial charges | 65/66B | €1,708 | €1,586 | -€123 | -7.2% |
| Recurring financial charges | 65 | €1,708 | €1,586 | -€123 | -7.2% |
| Profit (loss) for the period before taxes | 9903 | €26,334 | €12,232 | -€14,102 | -53.6% |
| Income taxes | 67/77 | €7,537 | €2,722 | -€4,815 | -63.9% |
| Profit (loss) for the period | 9904 | €18,797 | €9,510 | -€9,287 | -49.4% |
| Profit (loss) for the period to be appropriated | 9905 | €18,797 | €9,510 | -€9,287 | -49.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.