MARNIX 20: 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.
MARNIX 20
Largest movements
- Tangible fixed assets +€678,578
up €678,578 (+7.8%), from €8.7m to €9.4m
of which Assets under construction and advance payments: +€728,570
- Receivables within one year -€618,615
down €618,615 (-95.1%), from €650,580 to €31,965
of which Other amounts receivable: -€387,357
- Cash -€278,578
down €278,578 (-64.4%), from €432,503 to €153,925
mainly Investment in fixed assets (net) (-€728,570) and Net result for the year (-€207,456)
- Profit (loss) carried forward -€207,456
down €207,456 (-22.0%), from -€941,242 to -€1.1m
- Financial income -€61,532
down €61,532 (-100%), from €61,532 to €0
- Gross operating margin -€59,835
down €59,835 (-68.8%), from -€87,024 to -€146,859
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 | €9,790,318 | €9,570,380 | -€219,938 | -2.2% |
| Fixed assets | 21/28 | €8,705,911 | €9,384,490 | +€678,578 | +7.8% |
| Tangible fixed assets | 22/27 | €8,703,811 | €9,382,390 | +€678,578 | +7.8% |
| Land and buildings | 22 | €1,523,147 | €1,473,155 | -€49,991 | -3.3% |
| Assets under construction and advance payments | 27 | €7,180,664 | €7,909,234 | +€728,570 | +10.1% |
| Financial fixed assets | 28 | €2,100 | €2,100 | = | 0.0% |
| Current assets | 29/58 | €1,084,407 | €185,890 | -€898,517 | -82.9% |
| Amounts receivable within one year | 40/41 | €650,580 | €31,965 | -€618,615 | -95.1% |
| Trade receivables | 40 | €231,258 | €0 | -€231,258 | -100% |
| Other amounts receivable | 41 | €419,322 | €31,965 | -€387,357 | -92.4% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €432,503 | €153,925 | -€278,578 | -64.4% |
| Deferred charges and accrued income | 490/1 | €1,324 | €0 | -€1,324 | -100% |
| Total equity and liabilities | 10/49 | €9,790,318 | €9,570,380 | -€219,938 | -2.2% |
| Equity | 10/15 | €9,748,758 | €9,541,302 | -€207,456 | -2.1% |
| Contributions | 10/11 | €10,690,000 | €10,690,000 | = | 0.0% |
| Capital | 10 | €10,690,000 | €10,690,000 | = | 0.0% |
| Issued capital | 100 | €10,690,000 | €10,690,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€941,242 | -€1,148,698 | -€207,456 | -22.0% |
| Amounts payable | 17/49 | €41,560 | €29,077 | -€12,482 | -30.0% |
| Amounts payable within one year | 42/48 | €41,560 | €29,077 | -€12,482 | -30.0% |
| Trade debts | 44 | €41,560 | €29,077 | -€12,482 | -30.0% |
| Suppliers | 440/4 | €41,560 | €29,077 | -€12,482 | -30.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,991 | €49,991 | = | 0.0% |
| Other operating charges | 640/8 | €9,866 | €10,193 | +€327 | +3.3% |
| Gross operating margin | 9900 | -€87,024 | -€146,859 | -€59,835 | -68.8% |
| Operating profit (loss) | 9901 | -€146,882 | -€207,043 | -€60,162 | -41.0% |
| Financial income | 75/76B | €61,532 | €0 | -€61,532 | -100% |
| Recurring financial income | 75 | €61,532 | €0 | -€61,532 | -100% |
| Financial charges | 65/66B | €391 | €413 | +€22 | +5.6% |
| Recurring financial charges | 65 | €391 | €413 | +€22 | +5.6% |
| Profit (loss) for the period before taxes | 9903 | -€85,740 | -€207,456 | -€121,716 | -142% |
| Profit (loss) for the period | 9904 | -€85,740 | -€207,456 | -€121,716 | -142% |
| Profit (loss) for the period to be appropriated | 9905 | -€85,740 | -€207,456 | -€121,716 | -142% |
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.