MARNIC: 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.
MARNIC
Largest movements
- Current investments -€480,000
no longer reported in 2025 (was €480,000)
- Cash +€449,888
up €449,888 (+13662.2%), from €3,293 to €453,181
mainly Current investments (+€480,000) and Receivables within one year (+€23,976)
- Tangible fixed assets +€56,785
up €56,785 (+40.5%), from €140,043 to €196,828
of which Assets under construction and advance payments: +€58,203
- Receivables within one year -€23,976
down €23,976 (-73.2%), from €32,740 to €8,763
of which Other amounts receivable: -€28,332
No liability line moved by more than 1% of the balance sheet total.
- Financial income -€14,152
down €14,152 (-91.9%), from €15,394 to €1,243
- Gross operating margin +€7,761
up €7,761 (+80.7%), from -€9,616 to -€1,855
- Depreciation -€1,087
down €1,087 (-30.3%), from €3,590 to €2,504
- Taxes +€1,067
no longer reported in 2025 (was -€1,067)
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 | €656,075 | €664,187 | +€8,112 | +1.2% |
| Fixed assets | 21/28 | €140,043 | €196,828 | +€56,785 | +40.5% |
| Tangible fixed assets | 22/27 | €140,043 | €196,828 | +€56,785 | +40.5% |
| Land and buildings | 22 | €139,841 | €138,465 | -€1,376 | -1.0% |
| Plant, machinery and equipment | 23 | €201 | €160 | -€41 | -20.5% |
| Assets under construction and advance payments | 27 | - | €58,203 | +€58,203 | |
| Current assets | 29/58 | €516,033 | €467,359 | -€48,673 | -9.4% |
| Amounts receivable within one year | 40/41 | €32,740 | €8,763 | -€23,976 | -73.2% |
| Trade receivables | 40 | - | €4,356 | +€4,356 | |
| Other amounts receivable | 41 | €32,740 | €4,407 | -€28,332 | -86.5% |
| Current investments | 50/53 | €480,000 | - | -€480,000 | |
| Cash at bank and in hand | 54/58 | €3,293 | €453,181 | +€449,888 | +13662.2% |
| Deferred charges and accrued income | 490/1 | - | €5,415 | +€5,415 | |
| Total equity and liabilities | 10/49 | €656,075 | €664,187 | +€8,112 | +1.2% |
| Equity | 10/15 | €656,075 | €652,366 | -€3,709 | -0.6% |
| Contributions | 10/11 | €417,546 | €417,546 | = | 0.0% |
| Capital | 10 | €417,546 | €417,546 | = | 0.0% |
| Issued capital | 100 | €417,546 | €417,546 | = | 0.0% |
| Reserves | 13 | €238,529 | €234,820 | -€3,709 | -1.6% |
| Non-distributable reserves | 130/1 | €20,923 | €20,923 | = | 0.0% |
| Legal reserve | 130 | €20,923 | €20,923 | = | 0.0% |
| Distributable reserves | 133 | €217,606 | €213,897 | -€3,709 | -1.7% |
| Amounts payable | 17/49 | - | €11,821 | +€11,821 | |
| Amounts payable within one year | 42/48 | - | €10,021 | +€10,021 | |
| Trade debts | 44 | - | €6,109 | +€6,109 | |
| Suppliers | 440/4 | - | €6,109 | +€6,109 | |
| Taxes, remuneration and social security | 45 | - | €3,912 | +€3,912 | |
| Taxes | 450/3 | - | €3,912 | +€3,912 | |
| Accrued charges and deferred income | 492/3 | - | €1,800 | +€1,800 | |
| Non-recurring operating income | 76A | - | €1,087 | +€1,087 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,590 | €2,504 | -€1,087 | -30.3% |
| Other operating charges | 640/8 | €513 | €540 | +€27 | +5.2% |
| Gross operating margin | 9900 | -€9,616 | -€1,855 | +€7,761 | +80.7% |
| Operating profit (loss) | 9901 | -€13,720 | -€4,898 | +€8,821 | +64.3% |
| Financial income | 75/76B | €15,394 | €1,243 | -€14,152 | -91.9% |
| Recurring financial income | 75 | €15,394 | €1,243 | -€14,152 | -91.9% |
| Financial charges | 65/66B | €107 | €53 | -€54 | -50.4% |
| Recurring financial charges | 65 | €107 | €53 | -€54 | -50.4% |
| Profit (loss) for the period before taxes | 9903 | €1,568 | -€3,709 | -€5,277 | |
| Income taxes | 67/77 | -€1,067 | - | +€1,067 | |
| Profit (loss) for the period | 9904 | €2,635 | -€3,709 | -€6,344 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,635 | -€3,709 | -€6,344 |
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 11 October 2026 via checked.be.