Marsim Beheer: what changed
What changed
Marsim Beheer
filed annual accounts (NBB)
Net result for the year
-€180,582
2024 · -€172,817-€7,765
Equity
€1.1m
2024 · €976,187+€119,418
Cash
€131
2024 · €3,991-€3,860
Balance sheet total
€2.2m
2024 · €1.7m+€414,582
Largest movements
Assets
- Receivables within one year +€524,867
up €524,867 (+510%), from €102,983 to €627,850
of which Other amounts receivable: +€627,850
- Financial fixed assets -€50,823
down €50,823 (-6.5%), from €784,452 to €733,629
- Stocks and contracts -€42,684
down €42,684 (-87.1%), from €48,980 to €6,297
Equity and liabilities
- Current portion of long-term debt +€525,000
up €525,000 (+131%), from €400,000 to €925,000
- Other debts -€293,387
down €293,387 (-97.8%), from €300,000 to €6,613
- Profit (loss) carried forward +€119,418
up €119,418 (+22.3%), from €534,427 to €653,845
- Trade debts +€51,659
up €51,659 (+81.1%), from €63,670 to €115,329
Income statement
- Financial income -€20,994
down €20,994 (-27.2%), from €77,049 to €56,055
- Other operating charges -€10,675
down €10,675 (-12.3%), from €86,519 to €75,845
- Financial charges -€5,315
down €5,315 (-9.6%), from €55,224 to €49,909
- Gross operating margin -€2,761
down €2,761 (-3.1%), from -€89,851 to -€92,612
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€172,817
Gross operating margin
-€2,761
Other operating charges
+€10,675
Financial income
-€20,994
Financial charges
+€5,315
Result 2025
-€180,582
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€886,222
Investment
+€45,470
Financing
+€836,893
Cash 2024
€3,991
From operations (derived)
-€886,222
Net result for the year
-€180,582
Depreciation
+€18,272
Stocks and contracts
+€42,684
Receivables within one year
-€524,867
Trade debts
+€51,659
Other debts
-€293,387
Investment (derived)
+€45,470
Investment in fixed assets (net)
+€45,470
Financing
+€836,893
Current portion of long-term debt
+€525,000
Short-term financial debts
+€11,893
Contributions, distributions and other
+€300,000
Cash 2025
€131
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,739,857 | €2,154,439 | +€414,582 | +23.8% |
| Fixed assets | 21/28 | €1,583,903 | €1,520,162 | -€63,741 | -4.0% |
| Tangible fixed assets | 22/27 | €799,451 | €786,533 | -€12,918 | -1.6% |
| Land and buildings | 22 | €799,451 | €786,533 | -€12,918 | -1.6% |
| Financial fixed assets | 28 | €784,452 | €733,629 | -€50,823 | -6.5% |
| Current assets | 29/58 | €155,954 | €634,277 | +€478,324 | +307% |
| Stocks and contracts in progress | 3 | €48,980 | €6,297 | -€42,684 | -87.1% |
| Stocks | 30/36 | €48,980 | €6,297 | -€42,684 | -87.1% |
| Amounts receivable within one year | 40/41 | €102,983 | €627,850 | +€524,867 | +510% |
| Trade receivables | 40 | €102,983 | €0 | -€102,983 | -100% |
| Other amounts receivable | 41 | - | €627,850 | +€627,850 | |
| Cash at bank and in hand | 54/58 | €3,991 | €131 | -€3,860 | -96.7% |
| Total equity and liabilities | 10/49 | €1,739,857 | €2,154,439 | +€414,582 | +23.8% |
| Equity | 10/15 | €976,187 | €1,095,605 | +€119,418 | +12.2% |
| Contributions | 10/11 | €401,600 | €401,600 | = | 0.0% |
| Capital | 10 | €401,600 | €401,600 | = | 0.0% |
| Issued capital | 100 | €401,600 | €401,600 | = | 0.0% |
| Reserves | 13 | €40,160 | €40,160 | = | 0.0% |
| Non-distributable reserves | 130/1 | €40,160 | €40,160 | = | 0.0% |
| Legal reserve | 130 | €40,160 | €40,160 | = | 0.0% |
| Profit (loss) carried forward | 14 | €534,427 | €653,845 | +€119,418 | +22.3% |
| Amounts payable | 17/49 | €763,670 | €1,058,834 | +€295,164 | +38.7% |
| Amounts payable within one year | 42/48 | €763,670 | €1,058,834 | +€295,164 | +38.7% |
| Current portion of amounts payable after more than one year | 42 | €400,000 | €925,000 | +€525,000 | +131% |
| Financial debts | 43 | - | €11,893 | +€11,893 | |
| Credit institutions | 430/8 | - | €11,893 | +€11,893 | |
| Trade debts | 44 | €63,670 | €115,329 | +€51,659 | +81.1% |
| Suppliers | 440/4 | €63,670 | €115,329 | +€51,659 | +81.1% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €300,000 | €6,613 | -€293,387 | -97.8% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | - | €5,354 | +€5,354 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,272 | €18,272 | = | 0.0% |
| Other operating charges | 640/8 | €86,519 | €75,845 | -€10,675 | -12.3% |
| Gross operating margin | 9900 | -€89,851 | -€92,612 | -€2,761 | -3.1% |
| Operating profit (loss) | 9901 | -€194,642 | -€186,728 | +€7,914 | +4.1% |
| Financial income | 75/76B | €77,049 | €56,055 | -€20,994 | -27.2% |
| Recurring financial income | 75 | €77,049 | €56,055 | -€20,994 | -27.2% |
| Financial charges | 65/66B | €55,224 | €49,909 | -€5,315 | -9.6% |
| Recurring financial charges | 65 | €55,224 | €49,909 | -€5,315 | -9.6% |
| Profit (loss) for the period before taxes | 9903 | -€172,817 | -€180,582 | -€7,765 | -4.5% |
| Profit (loss) for the period | 9904 | -€172,817 | -€180,582 | -€7,765 | -4.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€172,817 | -€180,582 | -€7,765 | -4.5% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.