MARNIC REYNDERS: 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 REYNDERS
Largest movements
- Cash +€355,115
up €355,115 (+167%), from €213,037 to €568,152
mainly Net result for the year (+€668,684) and Tax, wage and social debts (+€67,814)
- Current investments +€300,000
up €300,000 (+100.0%), from €300,000 to €600,000
- Receivables within one year +€68,477
up €68,477 (+78.9%), from €86,759 to €155,236
of which Trade receivables: +€84,221
- Reserves +€668,684
up €668,684 (+99.8%), from €669,730 to €1.3m
- Tax, wage and social debts +€67,814
up €67,814 (+83.8%), from €80,899 to €148,712
of which Taxes: +€60,331
- Debts after one year -€34,052
down €34,052 (-70.0%), from €48,620 to €14,568
- Advances received +€29,277
new in 2025: €29,277
- Gross operating margin +€505,056
up €505,056 (+65.7%), from €768,826 to €1.3m
- Taxes +€136,729
up €136,729 (+76.7%), from €178,294 to €315,023
- Staff costs +€77,415
up €77,415 (+47.0%), from €164,588 to €242,002
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 | €899,852 | €1,635,294 | +€735,442 | +81.7% |
| Fixed assets | 21/28 | €297,982 | €304,933 | +€6,951 | +2.3% |
| Intangible fixed assets | 21 | €4,230 | €4,438 | +€209 | +4.9% |
| Tangible fixed assets | 22/27 | €293,752 | €300,495 | +€6,743 | +2.3% |
| Land and buildings | 22 | €196,927 | €190,685 | -€6,243 | -3.2% |
| Plant, machinery and equipment | 23 | €7,398 | €5,572 | -€1,826 | -24.7% |
| Furniture and vehicles | 24 | €89,426 | €104,238 | +€14,811 | +16.6% |
| Current assets | 29/58 | €601,870 | €1,330,361 | +€728,491 | +121% |
| Amounts receivable within one year | 40/41 | €86,759 | €155,236 | +€68,477 | +78.9% |
| Trade receivables | 40 | €58,750 | €142,970 | +€84,221 | +143% |
| Other amounts receivable | 41 | €28,009 | €12,266 | -€15,744 | -56.2% |
| Current investments | 50/53 | €300,000 | €600,000 | +€300,000 | +100.0% |
| Cash at bank and in hand | 54/58 | €213,037 | €568,152 | +€355,115 | +167% |
| Deferred charges and accrued income | 490/1 | €2,073 | €6,972 | +€4,900 | +236% |
| Total equity and liabilities | 10/49 | €899,852 | €1,635,294 | +€735,442 | +81.7% |
| Equity | 10/15 | €672,730 | €1,341,414 | +€668,684 | +99.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €669,730 | €1,338,414 | +€668,684 | +99.8% |
| Distributable reserves | 133 | €669,730 | €1,338,414 | +€668,684 | +99.8% |
| Amounts payable | 17/49 | €227,122 | €293,880 | +€66,759 | +29.4% |
| Amounts payable after more than one year | 17 | €48,620 | €14,568 | -€34,052 | -70.0% |
| Financial debts | 170/4 | €48,620 | €14,568 | -€34,052 | -70.0% |
| Amounts payable within one year | 42/48 | €157,846 | €253,505 | +€95,659 | +60.6% |
| Current portion of amounts payable after more than one year | 42 | €42,807 | €34,052 | -€8,756 | -20.5% |
| Trade debts | 44 | €32,455 | €40,070 | +€7,615 | +23.5% |
| Suppliers | 440/4 | €32,455 | €40,070 | +€7,615 | +23.5% |
| Advances received on contracts in progress | 46 | - | €29,277 | +€29,277 | |
| Taxes, remuneration and social security | 45 | €80,899 | €148,712 | +€67,814 | +83.8% |
| Taxes | 450/3 | €60,098 | €120,429 | +€60,331 | +100% |
| Remuneration and social security | 454/9 | €20,801 | €28,284 | +€7,483 | +36.0% |
| Other amounts payable | 47/48 | €1,684 | €1,394 | -€291 | -17.3% |
| Accrued charges and deferred income | 492/3 | €20,656 | €25,807 | +€5,151 | +24.9% |
| Remuneration, social security and pensions | 62 | €164,588 | €242,002 | +€77,415 | +47.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,665 | €26,617 | -€11,048 | -29.3% |
| Other operating charges | 640/8 | €7,748 | €4,466 | -€3,282 | -42.4% |
| Non-recurring operating charges | 66A | - | €22,497 | +€22,497 | |
| Gross operating margin | 9900 | €768,826 | €1,273,883 | +€505,056 | +65.7% |
| Operating profit (loss) | 9901 | €558,826 | €978,300 | +€419,474 | +75.1% |
| Financial income | 75/76B | €1,751 | €9,477 | +€7,726 | +441% |
| Recurring financial income | 75 | €1,751 | €9,477 | +€7,726 | +441% |
| Financial charges | 65/66B | €3,812 | €4,070 | +€258 | +6.8% |
| Recurring financial charges | 65 | €3,812 | €4,070 | +€258 | +6.8% |
| Profit (loss) for the period before taxes | 9903 | €556,765 | €983,707 | +€426,942 | +76.7% |
| Income taxes | 67/77 | €178,294 | €315,023 | +€136,729 | +76.7% |
| Profit (loss) for the period | 9904 | €378,471 | €668,684 | +€290,213 | +76.7% |
| Profit (loss) for the period to be appropriated | 9905 | €378,471 | €668,684 | +€290,213 | +76.7% |
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 14 October 2026 via checked.be.