MarmoT: 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.
MarmoT
Largest movements
- Cash +€42,606
up €42,606 (+91.9%), from €46,359 to €88,965
mainly Other debts (+€175,705) and Net result for the year (+€103,257)
- Current investments +€9,048
up €9,048 (+2.5%), from €368,154 to €377,202
- Other debts +€175,705
up €175,705 (+175582.6%), from €100 to €175,806
- Debts after one year -€175,000
no longer reported in 2025 (was €175,000)
- Profit (loss) carried forward +€87,118
new in 2025: €87,118
- Reserves -€43,861
down €43,861 (-17.7%), from €247,882 to €204,021
of which Distributable reserves: -€42,001
- Tax, wage and social debts +€5,163
up €5,163 (+37.9%), from €13,604 to €18,767
No income-statement line moved by more than 1% of the activity.
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 | €455,752 | €504,311 | +€48,560 | +10.7% |
| Fixed assets | 21/28 | €1,436 | €2,303 | +€867 | +60.4% |
| Tangible fixed assets | 22/27 | €1,436 | €2,303 | +€867 | +60.4% |
| Furniture and vehicles | 24 | €1,436 | €2,303 | +€867 | +60.4% |
| Current assets | 29/58 | €454,316 | €502,008 | +€47,692 | +10.5% |
| Amounts receivable within one year | 40/41 | €37,562 | €32,813 | -€4,749 | -12.6% |
| Trade receivables | 40 | €37,562 | €32,813 | -€4,749 | -12.6% |
| Current investments | 50/53 | €368,154 | €377,202 | +€9,048 | +2.5% |
| Cash at bank and in hand | 54/58 | €46,359 | €88,965 | +€42,606 | +91.9% |
| Deferred charges and accrued income | 490/1 | €2,240 | €3,027 | +€787 | +35.1% |
| Total equity and liabilities | 10/49 | €455,752 | €504,311 | +€48,560 | +10.7% |
| Equity | 10/15 | €266,482 | €309,739 | +€43,257 | +16.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €247,882 | €204,021 | -€43,861 | -17.7% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €246,022 | €204,021 | -€42,001 | -17.1% |
| Profit (loss) carried forward | 14 | - | €87,118 | +€87,118 | |
| Amounts payable | 17/49 | €189,270 | €194,572 | +€5,303 | +2.8% |
| Amounts payable after more than one year | 17 | €175,000 | - | -€175,000 | |
| Other amounts payable | 178/9 | €175,000 | - | -€175,000 | |
| Amounts payable within one year | 42/48 | €14,270 | €194,572 | +€180,303 | +1263.5% |
| Trade debts | 44 | €566 | - | -€566 | |
| Suppliers | 440/4 | €566 | - | -€566 | |
| Taxes, remuneration and social security | 45 | €13,604 | €18,767 | +€5,163 | +37.9% |
| Taxes | 450/3 | €13,604 | €18,767 | +€5,163 | +37.9% |
| Other amounts payable | 47/48 | €100 | €175,806 | +€175,705 | +175582.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €164 | €784 | +€621 | +379.4% |
| Other operating charges | 640/8 | €221 | €223 | +€2 | +0.9% |
| Gross operating margin | 9900 | €145,285 | €144,032 | -€1,253 | -0.9% |
| Operating profit (loss) | 9901 | €144,901 | €143,025 | -€1,876 | -1.3% |
| Financial income | 75/76B | €685 | €684 | -€2 | -0.2% |
| Recurring financial income | 75 | €685 | €684 | -€2 | -0.2% |
| Financial charges | 65/66B | €5,457 | €5,628 | +€171 | +3.1% |
| Recurring financial charges | 65 | €5,457 | €5,628 | +€171 | +3.1% |
| Profit (loss) for the period before taxes | 9903 | €140,129 | €138,081 | -€2,048 | -1.5% |
| Income taxes | 67/77 | €35,273 | €34,824 | -€449 | -1.3% |
| Profit (loss) for the period | 9904 | €104,856 | €103,257 | -€1,599 | -1.5% |
| Profit (loss) for the period to be appropriated | 9905 | €104,856 | €103,257 | -€1,599 | -1.5% |
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 6 October 2026 via checked.be.