MARVA: 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.
MARVA
Largest movements
- Stocks and contracts -€39,384
down €39,384 (-49.4%), from €79,740 to €40,356
- Cash +€33,343
up €33,343 (+223%), from €14,953 to €48,296
mainly Stocks and contracts (+€39,384) and Tax, wage and social debts (+€3,043)
- Trade debts -€6,447
down €6,447 (-39.7%), from €16,223 to €9,775
- Tax, wage and social debts +€3,043
up €3,043 (+10.1%), from €29,981 to €33,023
of which Remuneration and social security: +€2,801
- Profit (loss) carried forward -€2,769
down €2,769 (-6.3%), from €44,112 to €41,343
- Purchases and services -€37,245
down €37,245 (-12.5%), from €297,424 to €260,179
- Turnover -€34,007
down €34,007 (-10.8%), from €315,875 to €281,867
- Gross operating margin -€21,857
down €21,857 (-37.6%), from €58,058 to €36,201
- Taxes -€10,479
down €10,479, from €10,396 to -€83
- Staff costs +€5,386
up €5,386 (+16.4%), from €32,777 to €38,163
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 | €110,767 | €104,594 | -€6,173 | -5.6% |
| Fixed assets | 21/28 | €7,722 | €7,722 | = | 0.0% |
| Financial fixed assets | 28 | €7,722 | €7,722 | = | 0.0% |
| Current assets | 29/58 | €103,045 | €96,872 | -€6,173 | -6.0% |
| Stocks and contracts in progress | 3 | €79,740 | €40,356 | -€39,384 | -49.4% |
| Stocks | 30/36 | €79,740 | €40,356 | -€39,384 | -49.4% |
| Amounts receivable within one year | 40/41 | €8,352 | €8,220 | -€133 | -1.6% |
| Other amounts receivable | 41 | €8,352 | €8,220 | -€133 | -1.6% |
| Cash at bank and in hand | 54/58 | €14,953 | €48,296 | +€33,343 | +223% |
| Total equity and liabilities | 10/49 | €110,767 | €104,594 | -€6,173 | -5.6% |
| Equity | 10/15 | €64,564 | €61,795 | -€2,769 | -4.3% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 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% |
| Profit (loss) carried forward | 14 | €44,112 | €41,343 | -€2,769 | -6.3% |
| Amounts payable | 17/49 | €46,203 | €42,799 | -€3,405 | -7.4% |
| Amounts payable within one year | 42/48 | €46,203 | €42,799 | -€3,405 | -7.4% |
| Trade debts | 44 | €16,223 | €9,775 | -€6,447 | -39.7% |
| Suppliers | 440/4 | €16,223 | €9,775 | -€6,447 | -39.7% |
| Taxes, remuneration and social security | 45 | €29,981 | €33,023 | +€3,043 | +10.1% |
| Taxes | 450/3 | €22,823 | €23,065 | +€242 | +1.1% |
| Remuneration and social security | 454/9 | €7,158 | €9,959 | +€2,801 | +39.1% |
| Turnover | 70 | €315,875 | €281,867 | -€34,007 | -10.8% |
| Goods, raw materials, services and sundry goods | 60/61 | €297,424 | €260,179 | -€37,245 | -12.5% |
| Remuneration, social security and pensions | 62 | €32,777 | €38,163 | +€5,386 | +16.4% |
| Other operating charges | 640/8 | €875 | €707 | -€168 | -19.2% |
| Gross operating margin | 9900 | €58,058 | €36,201 | -€21,857 | -37.6% |
| Operating profit (loss) | 9901 | €24,405 | -€2,669 | -€27,075 | |
| Financial income | 75/76B | €829 | - | -€829 | |
| Recurring financial income | 75 | €829 | - | -€829 | |
| Financial charges | 65/66B | €1,651 | €183 | -€1,468 | -88.9% |
| Recurring financial charges | 65 | €1,651 | €183 | -€1,468 | -88.9% |
| Profit (loss) for the period before taxes | 9903 | €23,583 | -€2,852 | -€26,435 | |
| Income taxes | 67/77 | €10,396 | -€83 | -€10,479 | |
| Profit (loss) for the period | 9904 | €13,187 | -€2,769 | -€15,956 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,187 | -€2,769 | -€15,956 |
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 16 October 2026 via checked.be.