Marmottex: 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.
Marmottex
Largest movements
- Financial fixed assets +€850,000
up €850,000 (+500%), from €169,990 to €1.0m
- Tangible fixed assets +€340,640
up €340,640 (+142%), from €240,550 to €581,190
of which Assets under construction and advance payments: +€343,765
- Cash -€237,532
down €237,532 (-79.9%), from €297,304 to €59,772
mainly Investment in fixed assets (net) (-€1.2m) and Contributions, distributions and other (-€220,000)
- Receivables within one year -€37,498
down €37,498 (-22.6%), from €165,670 to €128,172
of which Other amounts receivable: -€37,498
- Debts after one year +€794,226
up €794,226 (+379%), from €209,633 to €1.0m
- Current portion of long-term debt +€110,409
new in 2025: €110,409
- Profit (loss) carried forward -€99,369
down €99,369 (-7.8%), from €1.3m to €1.2m
- Other debts +€95,713
up €95,713 (+131%), from €72,804 to €168,518
- Gross operating margin -€187,691
down €187,691 (-57.9%), from €324,167 to €136,476
- Taxes -€64,642
down €64,642 (-80.9%), from €79,941 to €15,299
- Financial charges +€22,735
up €22,735 (+1,048%), from €2,169 to €24,904
- Financial income +€18,224
up €18,224 (+129%), from €14,131 to €32,355
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 | €1,629,720 | €2,550,825 | +€921,105 | +56.5% |
| Fixed assets | 21/28 | €410,540 | €1,601,180 | +€1.2m | +290% |
| Tangible fixed assets | 22/27 | €240,550 | €581,190 | +€340,640 | +142% |
| Land and buildings | 22 | €10,702 | €8,718 | -€1,984 | -18.5% |
| Furniture and vehicles | 24 | €12,091 | €10,950 | -€1,141 | -9.4% |
| Other tangible fixed assets | 26 | €5,580 | €5,580 | = | 0.0% |
| Assets under construction and advance payments | 27 | €212,177 | €555,942 | +€343,765 | +162% |
| Financial fixed assets | 28 | €169,990 | €1,019,990 | +€850,000 | +500% |
| Current assets | 29/58 | €1,219,181 | €949,646 | -€269,535 | -22.1% |
| Amounts receivable within one year | 40/41 | €165,670 | €128,172 | -€37,498 | -22.6% |
| Trade receivables | 40 | €119,520 | €119,520 | = | 0.0% |
| Other amounts receivable | 41 | €46,150 | €8,652 | -€37,498 | -81.3% |
| Current investments | 50/53 | €754,647 | €759,174 | +€4,527 | +0.6% |
| Cash at bank and in hand | 54/58 | €297,304 | €59,772 | -€237,532 | -79.9% |
| Deferred charges and accrued income | 490/1 | €1,560 | €2,528 | +€968 | +62.1% |
| Total equity and liabilities | 10/49 | €1,629,720 | €2,550,825 | +€921,105 | +56.5% |
| Equity | 10/15 | €1,289,883 | €1,190,514 | -€99,369 | -7.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 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% |
| Profit (loss) carried forward | 14 | €1,269,423 | €1,170,054 | -€99,369 | -7.8% |
| Amounts payable | 17/49 | €339,837 | €1,360,311 | +€1.0m | +300% |
| Amounts payable after more than one year | 17 | €209,633 | €1,003,859 | +€794,226 | +379% |
| Financial debts | 170/4 | €209,633 | €1,003,859 | +€794,226 | +379% |
| Amounts payable within one year | 42/48 | €130,204 | €356,453 | +€226,248 | +174% |
| Current portion of amounts payable after more than one year | 42 | - | €110,409 | +€110,409 | |
| Trade debts | 44 | €858 | €20,505 | +€19,647 | +2,289% |
| Suppliers | 440/4 | €858 | €20,505 | +€19,647 | +2,289% |
| Taxes, remuneration and social security | 45 | €56,542 | €57,021 | +€479 | +0.8% |
| Taxes | 450/3 | €54,460 | €54,925 | +€465 | +0.9% |
| Remuneration and social security | 454/9 | €2,081 | €2,096 | +€14 | +0.7% |
| Other amounts payable | 47/48 | €72,804 | €168,518 | +€95,713 | +131% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,621 | €5,360 | -€262 | -4.7% |
| Other operating charges | 640/8 | €1,471 | €2,638 | +€1,167 | +79.3% |
| Gross operating margin | 9900 | €324,167 | €136,476 | -€187,691 | -57.9% |
| Operating profit (loss) | 9901 | €317,075 | €128,478 | -€188,596 | -59.5% |
| Financial income | 75/76B | €14,131 | €32,355 | +€18,224 | +129% |
| Recurring financial income | 75 | €14,131 | €32,355 | +€18,224 | +129% |
| Financial charges | 65/66B | €2,169 | €24,904 | +€22,735 | +1,048% |
| Recurring financial charges | 65 | €2,169 | €24,904 | +€22,735 | +1,048% |
| Profit (loss) for the period before taxes | 9903 | €329,037 | €135,930 | -€193,107 | -58.7% |
| Income taxes | 67/77 | €79,941 | €15,299 | -€64,642 | -80.9% |
| Profit (loss) for the period | 9904 | €249,096 | €120,631 | -€128,466 | -51.6% |
| Profit (loss) for the period to be appropriated | 9905 | €249,096 | €120,631 | -€128,466 | -51.6% |
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 20 October 2026 via checked.be.