MARNATRANS: 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.
MARNATRANS
Largest movements
- Tangible fixed assets -€73,130
down €73,130 (-27.6%), from €265,196 to €192,066
of which Leasing and similar rights: -€59,649
- Cash +€68,644
up €68,644 (+21.0%), from €326,743 to €395,387
mainly Depreciation (+€80,820) and Net result for the year (+€60,847)
- Reserves +€60,500
up €60,500 (+16.4%), from €369,957 to €430,457
of which Distributable reserves: +€60,500
- Debts after one year -€46,690
down €46,690 (-33.8%), from €138,037 to €91,347
- Current portion of long-term debt -€11,543
down €11,543 (-19.8%), from €58,233 to €46,690
- Gross operating margin +€14,010
up €14,010 (+5.5%), from €254,353 to €268,363
- Depreciation -€10,587
down €10,587 (-11.6%), from €91,408 to €80,820
- Taxes +€6,707
up €6,707 (+34.2%), from €19,636 to €26,343
- Staff costs +€4,101
up €4,101 (+5.2%), from €78,451 to €82,552
- Other operating charges -€3,335
down €3,335 (-30.8%), from €10,832 to €7,497
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 | €681,299 | €673,862 | -€7,437 | -1.1% |
| Fixed assets | 21/28 | €265,196 | €192,066 | -€73,130 | -27.6% |
| Tangible fixed assets | 22/27 | €265,196 | €192,066 | -€73,130 | -27.6% |
| Land and buildings | 22 | €85,846 | €78,111 | -€7,735 | -9.0% |
| Plant, machinery and equipment | 23 | €3,212 | €2,035 | -€1,176 | -36.6% |
| Furniture and vehicles | 24 | €36,765 | €32,195 | -€4,570 | -12.4% |
| Leasing and similar rights | 25 | €139,374 | €79,725 | -€59,649 | -42.8% |
| Current assets | 29/58 | €416,103 | €481,796 | +€65,693 | +15.8% |
| Amounts receivable within one year | 40/41 | €70,611 | €69,273 | -€1,338 | -1.9% |
| Trade receivables | 40 | €61,626 | €59,512 | -€2,114 | -3.4% |
| Other amounts receivable | 41 | €8,985 | €9,761 | +€776 | +8.6% |
| Cash at bank and in hand | 54/58 | €326,743 | €395,387 | +€68,644 | +21.0% |
| Deferred charges and accrued income | 490/1 | €18,749 | €17,136 | -€1,613 | -8.6% |
| Total equity and liabilities | 10/49 | €681,299 | €673,862 | -€7,437 | -1.1% |
| Equity | 10/15 | €390,068 | €450,082 | +€60,014 | +15.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €369,957 | €430,457 | +€60,500 | +16.4% |
| Tax-exempt reserves | 132 | €81,397 | €81,397 | = | 0.0% |
| Distributable reserves | 133 | €288,560 | €349,060 | +€60,500 | +21.0% |
| Profit (loss) carried forward | 14 | €1,520 | €1,034 | -€486 | -32.0% |
| Amounts payable | 17/49 | €291,231 | €223,780 | -€67,451 | -23.2% |
| Amounts payable after more than one year | 17 | €138,037 | €91,347 | -€46,690 | -33.8% |
| Financial debts | 170/4 | €138,037 | €91,347 | -€46,690 | -33.8% |
| Amounts payable within one year | 42/48 | €152,804 | €131,138 | -€21,666 | -14.2% |
| Current portion of amounts payable after more than one year | 42 | €58,233 | €46,690 | -€11,543 | -19.8% |
| Financial debts | 43 | €1,695 | €0 | -€1,695 | -100% |
| Credit institutions | 430/8 | €1,695 | €0 | -€1,695 | -100% |
| Trade debts | 44 | €24,185 | €21,036 | -€3,149 | -13.0% |
| Suppliers | 440/4 | €24,185 | €21,036 | -€3,149 | -13.0% |
| Taxes, remuneration and social security | 45 | €38,339 | €33,514 | -€4,825 | -12.6% |
| Taxes | 450/3 | €31,508 | €30,780 | -€728 | -2.3% |
| Remuneration and social security | 454/9 | €6,830 | €2,734 | -€4,096 | -60.0% |
| Other amounts payable | 47/48 | €30,353 | €29,898 | -€455 | -1.5% |
| Accrued charges and deferred income | 492/3 | €390 | €1,295 | +€905 | +232% |
| Non-recurring operating income | 76A | €2,272 | €0 | -€2,272 | -100% |
| Remuneration, social security and pensions | 62 | €78,451 | €82,552 | +€4,101 | +5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €91,408 | €80,820 | -€10,587 | -11.6% |
| Other operating charges | 640/8 | €10,832 | €7,497 | -€3,335 | -30.8% |
| Gross operating margin | 9900 | €254,353 | €268,363 | +€14,010 | +5.5% |
| Operating profit (loss) | 9901 | €73,663 | €97,494 | +€23,831 | +32.4% |
| Financial income | 75/76B | €849 | €759 | -€90 | -10.6% |
| Recurring financial income | 75 | €849 | €759 | -€90 | -10.6% |
| Financial charges | 65/66B | €11,946 | €11,063 | -€884 | -7.4% |
| Recurring financial charges | 65 | €11,946 | €11,063 | -€884 | -7.4% |
| Profit (loss) for the period before taxes | 9903 | €62,565 | €87,190 | +€24,625 | +39.4% |
| Income taxes | 67/77 | €19,636 | €26,343 | +€6,707 | +34.2% |
| Profit (loss) for the period | 9904 | €42,929 | €60,847 | +€17,917 | +41.7% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €42,929 | €60,847 | +€17,917 | +41.7% |
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 21 October 2026 via checked.be.