MARNIX & ALLY: 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 & ALLY
Largest movements
- Receivables within one year +€48,661
up €48,661 (+28.6%), from €169,962 to €218,623
- Deferred charges and accrued income +€39,168
up €39,168 (+65.8%), from €59,543 to €98,711
- Stocks and contracts -€31,352
down €31,352 (-99.2%), from €31,602 to €250
of which Contracts in progress: -€31,052
- Cash -€13,789
down €13,789 (-33.1%), from €41,615 to €27,826
mainly Short-term financial debts (-€80,181) and Receivables within one year (-€48,661)
- Intangible fixed assets -€13,542
down €13,542 (-38.4%), from €35,299 to €21,757
- Trade debts +€82,946
up €82,946 (+76.1%), from €109,049 to €191,994
- Short-term financial debts -€80,181
down €80,181 (-55.2%), from €145,181 to €65,000
of which Other loans: -€80,181
- Profit (loss) carried forward +€53,007
up €53,007 (+28.4%), from -€186,353 to -€133,346
- Current portion of long-term debt -€25,993
down €25,993 (-59.2%), from €43,878 to €17,885
- Tax, wage and social debts +€16,176
up €16,176 (+23.3%), from €69,338 to €85,514
of which Taxes: +€14,828
- Gross operating margin +€63,183
up €63,183 (+15.2%), from €414,370 to €477,552
- Staff costs +€28,665
up €28,665 (+8.0%), from €357,989 to €386,654
- Financial charges -€6,283
down €6,283 (-38.5%), from €16,332 to €10,049
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 | €362,964 | €393,683 | +€30,719 | +8.5% |
| Fixed assets | 21/28 | €60,242 | €48,273 | -€11,969 | -19.9% |
| Intangible fixed assets | 21 | €35,299 | €21,757 | -€13,542 | -38.4% |
| Tangible fixed assets | 22/27 | €24,944 | €26,516 | +€1,573 | +6.3% |
| Plant, machinery and equipment | 23 | €8,239 | €5,414 | -€2,825 | -34.3% |
| Furniture and vehicles | 24 | €12,423 | €17,323 | +€4,900 | +39.4% |
| Other tangible fixed assets | 26 | €4,281 | €3,779 | -€503 | -11.7% |
| Current assets | 29/58 | €302,721 | €345,410 | +€42,688 | +14.1% |
| Stocks and contracts in progress | 3 | €31,602 | €250 | -€31,352 | -99.2% |
| Stocks | 30/36 | €550 | €250 | -€300 | -54.5% |
| Contracts in progress | 37 | €31,052 | €0 | -€31,052 | -100% |
| Amounts receivable within one year | 40/41 | €169,962 | €218,623 | +€48,661 | +28.6% |
| Trade receivables | 40 | €169,962 | €218,623 | +€48,661 | +28.6% |
| Cash at bank and in hand | 54/58 | €41,615 | €27,826 | -€13,789 | -33.1% |
| Deferred charges and accrued income | 490/1 | €59,543 | €98,711 | +€39,168 | +65.8% |
| Total equity and liabilities | 10/49 | €362,964 | €393,683 | +€30,719 | +8.5% |
| Equity | 10/15 | -€89,131 | -€36,123 | +€53,007 | +59.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €78,622 | €78,622 | = | 0.0% |
| Non-distributable reserves | 130/1 | €640 | €640 | = | 0.0% |
| Reserves not available under the articles | 1311 | €640 | €640 | = | 0.0% |
| Distributable reserves | 133 | €77,982 | €77,982 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€186,353 | -€133,346 | +€53,007 | +28.4% |
| Amounts payable | 17/49 | €452,094 | €429,806 | -€22,288 | -4.9% |
| Amounts payable after more than one year | 17 | €44,633 | €34,971 | -€9,662 | -21.6% |
| Financial debts | 170/4 | €44,633 | €34,971 | -€9,662 | -21.6% |
| Amounts payable within one year | 42/48 | €406,702 | €394,335 | -€12,367 | -3.0% |
| Current portion of amounts payable after more than one year | 42 | €43,878 | €17,885 | -€25,993 | -59.2% |
| Financial debts | 43 | €145,181 | €65,000 | -€80,181 | -55.2% |
| Credit institutions | 430/8 | €65,000 | €65,000 | = | 0.0% |
| Other loans | 439 | €80,181 | - | -€80,181 | |
| Trade debts | 44 | €109,049 | €191,994 | +€82,946 | +76.1% |
| Suppliers | 440/4 | €109,049 | €191,994 | +€82,946 | +76.1% |
| Taxes, remuneration and social security | 45 | €69,338 | €85,514 | +€16,176 | +23.3% |
| Taxes | 450/3 | €7,610 | €22,438 | +€14,828 | +195% |
| Remuneration and social security | 454/9 | €61,728 | €63,076 | +€1,348 | +2.2% |
| Other amounts payable | 47/48 | €39,258 | €33,942 | -€5,316 | -13.5% |
| Accrued charges and deferred income | 492/3 | €759 | €500 | -€259 | -34.1% |
| Remuneration, social security and pensions | 62 | €357,989 | €386,654 | +€28,665 | +8.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,589 | €21,630 | -€3,959 | -15.5% |
| Other operating charges | 640/8 | €3,424 | €6,142 | +€2,718 | +79.4% |
| Gross operating margin | 9900 | €414,370 | €477,552 | +€63,183 | +15.2% |
| Operating profit (loss) | 9901 | €27,367 | €63,126 | +€35,759 | +131% |
| Financial income | 75/76B | €7 | €74 | +€68 | +1,029% |
| Recurring financial income | 75 | €7 | €74 | +€68 | +1,029% |
| Financial charges | 65/66B | €16,332 | €10,049 | -€6,283 | -38.5% |
| Recurring financial charges | 65 | €16,332 | €10,049 | -€6,283 | -38.5% |
| Profit (loss) for the period before taxes | 9903 | €11,041 | €53,151 | +€42,109 | +381% |
| Income taxes | 67/77 | €295 | €144 | -€151 | -51.2% |
| Profit (loss) for the period | 9904 | €10,747 | €53,007 | +€42,260 | +393% |
| Profit (loss) for the period to be appropriated | 9905 | €10,747 | €53,007 | +€42,260 | +393% |
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.