MARSYS: 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.
MARSYS
Largest movements
- Tangible fixed assets -€26,585
down €26,585 (-21.0%), from €126,454 to €99,869
of which Furniture and vehicles: -€22,282
- Current investments -€10,932
down €10,932 (-6.6%), from €164,477 to €153,545
- Receivables within one year +€5,984
up €5,984 (+29.5%), from €20,261 to €26,244
of which Trade receivables: +€3,712
- Cash +€4,670
up €4,670 (+38.0%), from €12,283 to €16,953
mainly Depreciation (+€27,614) and Net result for the year (+€19,192)
- Debts after one year -€19,372
down €19,372 (-32.9%), from €58,921 to €39,548
- Profit (loss) carried forward +€19,192
up €19,192 (+9.4%), from €203,640 to €222,833
- Other debts -€17,527
down €17,527 (-82.6%), from €21,230 to €3,703
- Tax, wage and social debts -€10,403
down €10,403 (-74.0%), from €14,055 to €3,651
- Gross operating margin -€9,383
down €9,383 (-15.8%), from €59,373 to €49,990
- Financial income +€5,528
up €5,528 (+2236.8%), from €247 to €5,775
- Taxes +€3,452
up €3,452 (+270.7%), from €1,276 to €4,728
- Financial charges -€721
down €721 (-17.7%), from €4,068 to €3,348
- Depreciation -€617
down €617 (-2.2%), from €28,231 to €27,614
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 | €328,318 | €303,609 | -€24,710 | -7.5% |
| Fixed assets | 21/28 | €126,504 | €99,919 | -€26,585 | -21.0% |
| Tangible fixed assets | 22/27 | €126,454 | €99,869 | -€26,585 | -21.0% |
| Plant, machinery and equipment | 23 | €19,474 | €17,240 | -€2,234 | -11.5% |
| Furniture and vehicles | 24 | €88,512 | €66,230 | -€22,282 | -25.2% |
| Other tangible fixed assets | 26 | €18,468 | €16,399 | -€2,069 | -11.2% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €201,815 | €203,690 | +€1,875 | +0.9% |
| Amounts receivable within one year | 40/41 | €20,261 | €26,244 | +€5,984 | +29.5% |
| Trade receivables | 40 | €16,482 | €20,193 | +€3,712 | +22.5% |
| Other amounts receivable | 41 | €3,779 | €6,051 | +€2,272 | +60.1% |
| Current investments | 50/53 | €164,477 | €153,545 | -€10,932 | -6.6% |
| Cash at bank and in hand | 54/58 | €12,283 | €16,953 | +€4,670 | +38.0% |
| Deferred charges and accrued income | 490/1 | €4,793 | €6,946 | +€2,153 | +44.9% |
| Total equity and liabilities | 10/49 | €328,318 | €303,609 | -€24,710 | -7.5% |
| Equity | 10/15 | €211,999 | €231,192 | +€19,192 | +9.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €2,159 | €2,159 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €299 | €299 | = | 0.0% |
| Profit (loss) carried forward | 14 | €203,640 | €222,833 | +€19,192 | +9.4% |
| Amounts payable | 17/49 | €116,319 | €72,417 | -€43,902 | -37.7% |
| Amounts payable after more than one year | 17 | €58,921 | €39,548 | -€19,372 | -32.9% |
| Financial debts | 170/4 | €58,921 | €39,548 | -€19,372 | -32.9% |
| Amounts payable within one year | 42/48 | €55,594 | €32,869 | -€22,725 | -40.9% |
| Current portion of amounts payable after more than one year | 42 | €18,555 | €21,174 | +€2,620 | +14.1% |
| Trade debts | 44 | €1,755 | €4,340 | +€2,585 | +147.3% |
| Suppliers | 440/4 | €1,755 | €4,340 | +€2,585 | +147.3% |
| Taxes, remuneration and social security | 45 | €14,055 | €3,651 | -€10,403 | -74.0% |
| Taxes | 450/3 | €14,055 | €3,651 | -€10,403 | -74.0% |
| Other amounts payable | 47/48 | €21,230 | €3,703 | -€17,527 | -82.6% |
| Accrued charges and deferred income | 492/3 | €1,804 | - | -€1,804 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,231 | €27,614 | -€617 | -2.2% |
| Other operating charges | 640/8 | €1,100 | €883 | -€217 | -19.7% |
| Gross operating margin | 9900 | €59,373 | €49,990 | -€9,383 | -15.8% |
| Operating profit (loss) | 9901 | €30,041 | €21,493 | -€8,548 | -28.5% |
| Financial income | 75/76B | €247 | €5,775 | +€5,528 | +2236.8% |
| Recurring financial income | 75 | €247 | €5,775 | +€5,528 | +2236.8% |
| Financial charges | 65/66B | €4,068 | €3,348 | -€721 | -17.7% |
| Recurring financial charges | 65 | €4,068 | €3,348 | -€721 | -17.7% |
| Profit (loss) for the period before taxes | 9903 | €26,220 | €23,920 | -€2,300 | -8.8% |
| Income taxes | 67/77 | €1,276 | €4,728 | +€3,452 | +270.7% |
| Profit (loss) for the period | 9904 | €24,945 | €19,192 | -€5,752 | -23.1% |
| Profit (loss) for the period to be appropriated | 9905 | €24,945 | €19,192 | -€5,752 | -23.1% |
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 3 October 2026 via checked.be.