MARNA: 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.
MARNA
Largest movements
- Tangible fixed assets -€4,302
down €4,302 (-1.9%), from €225,759 to €221,457
of which Plant, machinery and equipment: -€4,302
- Receivables within one year -€3,542
down €3,542 (-5.0%), from €70,375 to €66,833
of which Trade receivables: -€2,279
- Profit (loss) carried forward -€39,171
down €39,171 (-12.3%), from -€319,610 to -€358,781
- Other debts +€32,514
up €32,514 (+16.0%), from €202,961 to €235,475
- Staff costs -€12,478
down €12,478 (-97.9%), from €12,746 to €268
- Other operating charges -€2,406
down €2,406 (-59.3%), from €4,055 to €1,649
- Depreciation -€852
down €852 (-16.5%), from €5,155 to €4,302
- Gross operating margin +€617
up €617 (+2.0%), from -€31,491 to -€30,874
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 | €301,966 | €296,761 | -€5,205 | -1.7% |
| Fixed assets | 21/28 | €226,173 | €221,681 | -€4,492 | -2.0% |
| Tangible fixed assets | 22/27 | €225,759 | €221,457 | -€4,302 | -1.9% |
| Land and buildings | 22 | €117,465 | €117,465 | = | 0.0% |
| Plant, machinery and equipment | 23 | €19,374 | €15,071 | -€4,302 | -22.2% |
| Assets under construction and advance payments | 27 | €88,921 | €88,921 | = | 0.0% |
| Financial fixed assets | 28 | €414 | €224 | -€190 | -45.9% |
| Current assets | 29/58 | €75,793 | €75,080 | -€713 | -0.9% |
| Amounts receivable within one year | 40/41 | €70,375 | €66,833 | -€3,542 | -5.0% |
| Trade receivables | 40 | €68,669 | €66,390 | -€2,279 | -3.3% |
| Other amounts receivable | 41 | €1,706 | €444 | -€1,263 | -74.0% |
| Cash at bank and in hand | 54/58 | €3,452 | €6,117 | +€2,665 | +77.2% |
| Deferred charges and accrued income | 490/1 | €1,965 | €2,129 | +€164 | +8.4% |
| Total equity and liabilities | 10/49 | €301,966 | €296,761 | -€5,205 | -1.7% |
| Equity | 10/15 | €86,331 | €47,160 | -€39,171 | -45.4% |
| Contributions | 10/11 | €245,000 | €245,000 | = | 0.0% |
| Reserves | 13 | €160,941 | €160,941 | = | 0.0% |
| Non-distributable reserves | 130/1 | €24,500 | €24,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €24,500 | €24,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €36,441 | €36,441 | = | 0.0% |
| Distributable reserves | 133 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€319,610 | -€358,781 | -€39,171 | -12.3% |
| Amounts payable | 17/49 | €215,635 | €249,601 | +€33,966 | +15.8% |
| Amounts payable within one year | 42/48 | €215,635 | €249,601 | +€33,966 | +15.8% |
| Trade debts | 44 | €1,604 | €3,023 | +€1,419 | +88.4% |
| Suppliers | 440/4 | €1,604 | €3,023 | +€1,419 | +88.4% |
| Taxes, remuneration and social security | 45 | €11,069 | €11,103 | +€33 | +0.3% |
| Taxes | 450/3 | €11,069 | €11,103 | +€33 | +0.3% |
| Other amounts payable | 47/48 | €202,961 | €235,475 | +€32,514 | +16.0% |
| Non-recurring operating income | 76A | - | €7 | +€7 | |
| Remuneration, social security and pensions | 62 | €12,746 | €268 | -€12,478 | -97.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,155 | €4,302 | -€852 | -16.5% |
| Other operating charges | 640/8 | €4,055 | €1,649 | -€2,406 | -59.3% |
| Gross operating margin | 9900 | -€31,491 | -€30,874 | +€617 | +2.0% |
| Operating profit (loss) | 9901 | -€53,446 | -€37,094 | +€16,353 | +30.6% |
| Financial income | 75/76B | €4 | €2 | -€2 | -54.9% |
| Recurring financial income | 75 | €4 | €2 | -€2 | -54.9% |
| Financial charges | 65/66B | €1,560 | €1,448 | -€112 | -7.1% |
| Recurring financial charges | 65 | €1,560 | €1,448 | -€112 | -7.1% |
| Profit (loss) for the period before taxes | 9903 | -€55,002 | -€38,540 | +€16,462 | +29.9% |
| Income taxes | 67/77 | €498 | €631 | +€133 | +26.7% |
| Profit (loss) for the period | 9904 | -€55,500 | -€39,171 | +€16,329 | +29.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€55,500 | -€39,171 | +€16,329 | +29.4% |
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 20 October 2026 via checked.be.