MARNILUX: 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.
MARNILUX
Largest movements
- Cash -€43,351
down €43,351 (-54.3%), from €79,908 to €36,557
mainly Net result for the year (-€38,810) and Other debts (-€13,790)
- Receivables within one year -€7,198
down €7,198 (-43.8%), from €16,438 to €9,241
of which Other amounts receivable: -€15,537
- Tangible fixed assets -€3,879
down €3,879 (-10.9%), from €35,727 to €31,848
of which Plant, machinery and equipment: -€3,201
- Profit (loss) carried forward -€38,810
down €38,810 (-68.3%), from -€56,801 to -€95,612
- Other debts -€13,790
down €13,790 (-9.9%), from €138,983 to €125,193
- Gross operating margin -€13,958
down €13,958 (-79.2%), from -€17,629 to -€31,587
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 | €380,141 | €325,713 | -€54,428 | -14.3% |
| Fixed assets | 21/28 | €281,833 | €277,954 | -€3,879 | -1.4% |
| Tangible fixed assets | 22/27 | €35,727 | €31,848 | -€3,879 | -10.9% |
| Land and buildings | 22 | €29,250 | €28,571 | -€679 | -2.3% |
| Plant, machinery and equipment | 23 | €6,477 | €3,277 | -€3,201 | -49.4% |
| Financial fixed assets | 28 | €246,107 | €246,107 | = | 0.0% |
| Current assets | 29/58 | €98,307 | €47,759 | -€50,549 | -51.4% |
| Amounts receivable within one year | 40/41 | €16,438 | €9,241 | -€7,198 | -43.8% |
| Trade receivables | 40 | €1 | €8,341 | +€8,339 | +694,942% |
| Other amounts receivable | 41 | €16,437 | €900 | -€15,537 | -94.5% |
| Cash at bank and in hand | 54/58 | €79,908 | €36,557 | -€43,351 | -54.3% |
| Deferred charges and accrued income | 490/1 | €1,961 | €1,961 | = | 0.0% |
| Total equity and liabilities | 10/49 | €380,141 | €325,713 | -€54,428 | -14.3% |
| Equity | 10/15 | €236,832 | €198,022 | -€38,810 | -16.4% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €231,660 | €231,660 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €225,460 | €225,460 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€56,801 | -€95,612 | -€38,810 | -68.3% |
| Amounts payable | 17/49 | €143,309 | €127,691 | -€15,618 | -10.9% |
| Amounts payable within one year | 42/48 | €143,309 | €127,046 | -€16,263 | -11.3% |
| Financial debts | 43 | €202 | €0 | -€202 | -100% |
| Credit institutions | 430/8 | €202 | €0 | -€202 | -100% |
| Trade debts | 44 | €1,317 | €1,686 | +€369 | +28.0% |
| Suppliers | 440/4 | €1,317 | €1,686 | +€369 | +28.0% |
| Taxes, remuneration and social security | 45 | €2,806 | €167 | -€2,640 | -94.1% |
| Taxes | 450/3 | €1,318 | €167 | -€1,152 | -87.4% |
| Remuneration and social security | 454/9 | €1,488 | €0 | -€1,488 | -100% |
| Other amounts payable | 47/48 | €138,983 | €125,193 | -€13,790 | -9.9% |
| Accrued charges and deferred income | 492/3 | €0 | €645 | +€645 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,879 | €3,879 | = | 0.0% |
| Other operating charges | 640/8 | €652 | €672 | +€20 | +3.0% |
| Non-recurring operating charges | 66A | €9,700 | €0 | -€9,700 | -100% |
| Gross operating margin | 9900 | -€17,629 | -€31,587 | -€13,958 | -79.2% |
| Operating profit (loss) | 9901 | -€31,860 | -€36,138 | -€4,277 | -13.4% |
| Financial income | 75/76B | €3 | €1 | -€2 | -67.3% |
| Recurring financial income | 75 | €3 | €1 | -€2 | -67.3% |
| Financial charges | 65/66B | €2,635 | €2,673 | +€38 | +1.4% |
| Recurring financial charges | 65 | €2,635 | €2,673 | +€38 | +1.4% |
| Profit (loss) for the period before taxes | 9903 | -€34,492 | -€38,810 | -€4,318 | -12.5% |
| Income taxes | 67/77 | €0 | €0 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€34,492 | -€38,810 | -€4,318 | -12.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€34,492 | -€38,810 | -€4,318 | -12.5% |
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 16 October 2026 via checked.be.