MARREYT CLASSICS: 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.
MARREYT CLASSICS
Largest movements
- Stocks and contracts -€610,199
down €610,199 (-65.8%), from €927,088 to €316,889
- Tangible fixed assets +€465,151
up €465,151 (+153%), from €303,084 to €768,235
of which Other tangible fixed assets: +€686,735
- Receivables within one year -€245,463
down €245,463 (-71.7%), from €342,491 to €97,028
of which Other amounts receivable: -€133,952
- Cash +€140,458
up €140,458 (+91.4%), from €153,607 to €294,064
mainly Stocks and contracts (+€610,199) and Contributions, distributions and other (+€500,000)
- Deferred charges and accrued income +€48,023
up €48,023 (+192%), from €25,000 to €73,023
- Debts after one year -€1.0m
down €1.0m (-69.4%), from €1.5m to €450,000
of which Financial debts: -€754,394
- Contributions +€500,000
up €500,000 (+96.4%), from €518,592 to €1.0m
- Trade debts +€461,473
up €461,473 (+238%), from €194,250 to €655,722
- Short-term financial debts -€450,000
down €450,000 (-47.4%), from €950,000 to €500,000
- Profit (loss) carried forward +€323,762
up €323,762 (+19.0%), from -€1.7m to -€1.4m
- Gross operating margin +€824,416
up €824,416 (+440%), from €187,359 to €1.0m
- Staff costs +€19,841
up €19,841 (+4.7%), from €425,135 to €444,975
- Depreciation -€12,472
down €12,472 (-15.5%), from €80,630 to €68,159
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 | €1,767,307 | €1,555,606 | -€211,701 | -12.0% |
| Fixed assets | 21/28 | €319,122 | €774,603 | +€455,481 | +143% |
| Intangible fixed assets | 21 | €11,407 | €1,737 | -€9,670 | -84.8% |
| Tangible fixed assets | 22/27 | €303,084 | €768,235 | +€465,151 | +153% |
| Land and buildings | 22 | €216,395 | - | -€216,395 | |
| Plant, machinery and equipment | 23 | €4,818 | €2,188 | -€2,630 | -54.6% |
| Furniture and vehicles | 24 | €81,872 | €79,312 | -€2,560 | -3.1% |
| Other tangible fixed assets | 26 | - | €686,735 | +€686,735 | |
| Financial fixed assets | 28 | €4,631 | €4,631 | = | 0.0% |
| Current assets | 29/58 | €1,448,185 | €781,004 | -€667,182 | -46.1% |
| Stocks and contracts in progress | 3 | €927,088 | €316,889 | -€610,199 | -65.8% |
| Stocks | 30/36 | €927,088 | €316,889 | -€610,199 | -65.8% |
| Amounts receivable within one year | 40/41 | €342,491 | €97,028 | -€245,463 | -71.7% |
| Trade receivables | 40 | €199,504 | €87,993 | -€111,510 | -55.9% |
| Other amounts receivable | 41 | €142,987 | €9,035 | -€133,952 | -93.7% |
| Cash at bank and in hand | 54/58 | €153,607 | €294,064 | +€140,458 | +91.4% |
| Deferred charges and accrued income | 490/1 | €25,000 | €73,023 | +€48,023 | +192% |
| Total equity and liabilities | 10/49 | €1,767,307 | €1,555,606 | -€211,701 | -12.0% |
| Equity | 10/15 | -€1,089,317 | -€265,555 | +€823,762 | +75.6% |
| Contributions | 10/11 | €518,592 | €1,018,592 | +€500,000 | +96.4% |
| Reserves | 13 | €97,904 | €97,904 | = | 0.0% |
| Tax-exempt reserves | 132 | €40,036 | €40,036 | = | 0.0% |
| Distributable reserves | 133 | €57,868 | €57,868 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,705,813 | -€1,382,051 | +€323,762 | +19.0% |
| Amounts payable | 17/49 | €2,856,624 | €1,821,161 | -€1.0m | -36.2% |
| Amounts payable after more than one year | 17 | €1,469,394 | €450,000 | -€1.0m | -69.4% |
| Financial debts | 170/4 | €754,394 | - | -€754,394 | |
| Other amounts payable | 178/9 | €715,000 | €450,000 | -€265,000 | -37.1% |
| Amounts payable within one year | 42/48 | €1,331,055 | €1,216,796 | -€114,259 | -8.6% |
| Current portion of amounts payable after more than one year | 42 | €125,230 | - | -€125,230 | |
| Financial debts | 43 | €950,000 | €500,000 | -€450,000 | -47.4% |
| Credit institutions | 430/8 | €950,000 | €500,000 | -€450,000 | -47.4% |
| Trade debts | 44 | €194,250 | €655,722 | +€461,473 | +238% |
| Suppliers | 440/4 | €194,250 | €655,722 | +€461,473 | +238% |
| Taxes, remuneration and social security | 45 | €61,576 | €61,074 | -€502 | -0.8% |
| Taxes | 450/3 | €24,551 | €7,215 | -€17,336 | -70.6% |
| Remuneration and social security | 454/9 | €37,025 | €53,859 | +€16,834 | +45.5% |
| Other amounts payable | 47/48 | €0 | €0 | = | |
| Accrued charges and deferred income | 492/3 | €56,175 | €154,365 | +€98,190 | +175% |
| Non-recurring operating income | 76A | - | €1,191,231 | +€1.2m | |
| Remuneration, social security and pensions | 62 | €425,135 | €444,975 | +€19,841 | +4.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €80,630 | €68,159 | -€12,472 | -15.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €5,200 | - | -€5,200 | |
| Other operating charges | 640/8 | €29,086 | €29,009 | -€77 | -0.3% |
| Non-recurring operating charges | 66A | €194,286 | €98,800 | -€95,486 | -49.1% |
| Gross operating margin | 9900 | €187,359 | €1,011,776 | +€824,416 | +440% |
| Operating profit (loss) | 9901 | -€546,978 | €370,833 | +€917,811 | |
| Financial income | 75/76B | €410 | €89 | -€321 | -78.3% |
| Recurring financial income | 75 | €410 | €89 | -€321 | -78.3% |
| Financial charges | 65/66B | €56,336 | €47,160 | -€9,177 | -16.3% |
| Recurring financial charges | 65 | €56,336 | €47,160 | -€9,177 | -16.3% |
| Profit (loss) for the period before taxes | 9903 | -€602,905 | €323,762 | +€926,667 | |
| Profit (loss) for the period | 9904 | -€602,905 | €323,762 | +€926,667 | |
| Profit (loss) for the period to be appropriated | 9905 | -€602,905 | €323,762 | +€926,667 |
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 15 October 2026 via checked.be.