MARMIBO: 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.
MARMIBO
Largest movements
- Cash +€1.2m
up €1.2m (+402.4%), from €304,847 to €1.5m
mainly Current investments (+€965,000) and Net result for the year (+€291,390)
- Current investments -€965,000
down €965,000 (-100.0%), from €965,000 to €0
- Tangible fixed assets +€24,822
up €24,822 (+59.6%), from €41,677 to €66,499
of which Other tangible fixed assets: +€21,691
- Reserves +€291,390
up €291,390 (+23.2%), from €1.3m to €1.5m
- Gross operating margin -€98,874
down €98,874 (-39.1%), from €252,832 to €153,958
- Financial income +€91,751
up €91,751 (+73.1%), from €125,460 to €217,211
- Taxes -€25,378
down €25,378 (-28.5%), from €88,904 to €63,526
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 | €1,539,677 | €1,823,281 | +€283,604 | +18.4% |
| Fixed assets | 21/28 | €237,035 | €261,857 | +€24,822 | +10.5% |
| Tangible fixed assets | 22/27 | €41,677 | €66,499 | +€24,822 | +59.6% |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €17,263 | €20,715 | +€3,452 | +20.0% |
| Furniture and vehicles | 24 | €615 | €294 | -€321 | -52.2% |
| Other tangible fixed assets | 26 | €23,799 | €45,491 | +€21,691 | +91.1% |
| Financial fixed assets | 28 | €195,358 | €195,358 | = | 0.0% |
| Current assets | 29/58 | €1,302,643 | €1,561,425 | +€258,782 | +19.9% |
| Amounts receivable within one year | 40/41 | €30,733 | €27,901 | -€2,832 | -9.2% |
| Trade receivables | 40 | €21,175 | €21,175 | = | 0.0% |
| Other amounts receivable | 41 | €9,558 | €6,726 | -€2,832 | -29.6% |
| Current investments | 50/53 | €965,000 | €0 | -€965,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €304,847 | €1,531,484 | +€1.2m | +402.4% |
| Deferred charges and accrued income | 490/1 | €2,063 | €2,040 | -€23 | -1.1% |
| Total equity and liabilities | 10/49 | €1,539,677 | €1,823,281 | +€283,604 | +18.4% |
| Equity | 10/15 | €1,315,712 | €1,619,502 | +€303,790 | +23.1% |
| Contributions | 10/11 | €6,200 | €18,600 | +€12,400 | +200.0% |
| Reserves | 13 | €1,254,917 | €1,546,308 | +€291,390 | +23.2% |
| Distributable reserves | 133 | €1,254,917 | €1,546,308 | +€291,390 | +23.2% |
| Profit (loss) carried forward | 14 | €54,595 | €54,595 | = | 0.0% |
| Amounts payable | 17/49 | €223,965 | €203,779 | -€20,186 | -9.0% |
| Amounts payable within one year | 42/48 | €223,530 | €203,344 | -€20,187 | -9.0% |
| Trade debts | 44 | €1,236 | €1,365 | +€129 | +10.4% |
| Suppliers | 440/4 | €1,236 | €1,365 | +€129 | +10.4% |
| Taxes, remuneration and social security | 45 | €70,864 | €53,189 | -€17,675 | -24.9% |
| Taxes | 450/3 | €70,864 | €53,189 | -€17,675 | -24.9% |
| Other amounts payable | 47/48 | €151,431 | €148,790 | -€2,641 | -1.7% |
| Accrued charges and deferred income | 492/3 | €435 | €435 | +€0 | +0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,358 | €3,981 | +€623 | +18.5% |
| Other operating charges | 640/8 | €2,290 | €2,002 | -€288 | -12.6% |
| Gross operating margin | 9900 | €252,832 | €153,958 | -€98,874 | -39.1% |
| Operating profit (loss) | 9901 | €247,183 | €147,974 | -€99,209 | -40.1% |
| Financial income | 75/76B | €125,460 | €217,211 | +€91,751 | +73.1% |
| Recurring financial income | 75 | €125,460 | €217,211 | +€91,751 | +73.1% |
| Financial charges | 65/66B | €11,400 | €10,269 | -€1,131 | -9.9% |
| Recurring financial charges | 65 | €11,400 | €10,269 | -€1,131 | -9.9% |
| Profit (loss) for the period before taxes | 9903 | €361,243 | €354,916 | -€6,327 | -1.8% |
| Income taxes | 67/77 | €88,904 | €63,526 | -€25,378 | -28.5% |
| Profit (loss) for the period | 9904 | €272,339 | €291,390 | +€19,051 | +7.0% |
| Profit (loss) for the period to be appropriated | 9905 | €272,339 | €291,390 | +€19,051 | +7.0% |
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 10 October 2026 via checked.be.