Marnutec: what changed
Two fiscal 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.
Marnutec
Largest movements
- Cash +€60,826
up €60,826 (+7.8%), from €775,589 to €836,415
mainly Net result for the year (+€166,693)
- Reserves +€78,428
up €78,428 (+11.0%), from €714,861 to €793,289
of which Distributable reserves: +€86,773
- Tax, wage and social debts -€11,555
down €11,555 (-33.3%), from €34,664 to €23,108
- Gross operating margin -€64,322
down €64,322 (-21.5%), from €299,676 to €235,354
- Taxes -€28,392
down €28,392 (-30.1%), from €94,460 to €66,068
- Depreciation -€4,429
no longer reported in 2025 (was €4,429)
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 | €776,317 | €841,160 | +€64,844 | +8.4% |
| Current assets | 29/58 | €776,317 | €841,160 | +€64,844 | +8.4% |
| Amounts receivable within one year | 40/41 | - | €3,982 | +€3,982 | |
| Other amounts receivable | 41 | - | €3,982 | +€3,982 | |
| Cash at bank and in hand | 54/58 | €775,589 | €836,415 | +€60,826 | +7.8% |
| Deferred charges and accrued income | 490/1 | €728 | €763 | +€35 | +4.9% |
| Total equity and liabilities | 10/49 | €776,317 | €841,160 | +€64,844 | +8.4% |
| Equity | 10/15 | €733,411 | €811,839 | +€78,428 | +10.7% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €714,861 | €793,289 | +€78,428 | +11.0% |
| Non-distributable reserves | 130/1 | €10,200 | €1,855 | -€8,345 | -81.8% |
| Reserves not available under the articles | 1311 | €10,200 | €1,855 | -€8,345 | -81.8% |
| Distributable reserves | 133 | €704,661 | €791,434 | +€86,773 | +12.3% |
| Amounts payable | 17/49 | €42,906 | €29,322 | -€13,584 | -31.7% |
| Amounts payable within one year | 42/48 | €42,906 | €29,322 | -€13,584 | -31.7% |
| Trade debts | 44 | €208 | €142 | -€67 | -32.0% |
| Suppliers | 440/4 | €208 | €142 | -€67 | -32.0% |
| Taxes, remuneration and social security | 45 | €34,664 | €23,108 | -€11,555 | -33.3% |
| Taxes | 450/3 | €34,664 | €23,108 | -€11,555 | -33.3% |
| Other amounts payable | 47/48 | €8,034 | €6,072 | -€1,962 | -24.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,429 | - | -€4,429 | |
| Other operating charges | 640/8 | €1,854 | €2,521 | +€668 | +36.0% |
| Gross operating margin | 9900 | €299,676 | €235,354 | -€64,322 | -21.5% |
| Operating profit (loss) | 9901 | €293,393 | €232,832 | -€60,561 | -20.6% |
| Financial charges | 65/66B | €75 | €71 | -€4 | -5.8% |
| Recurring financial charges | 65 | €75 | €71 | -€4 | -5.8% |
| Profit (loss) for the period before taxes | 9903 | €293,318 | €232,761 | -€60,556 | -20.6% |
| Income taxes | 67/77 | €94,460 | €66,068 | -€28,392 | -30.1% |
| Profit (loss) for the period | 9904 | €198,857 | €166,693 | -€32,164 | -16.2% |
| Profit (loss) for the period to be appropriated | 9905 | €198,857 | €166,693 | -€32,164 | -16.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.