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
- Tangible fixed assets -€9,956
down €9,956 (-24.9%), from €39,982 to €30,026
- Cash -€3,303
down €3,303 (-4.1%), from €80,170 to €76,868
mainly Contributions, distributions and other (-€35,294) and Debts after one year (-€9,535)
- Profit (loss) carried forward -€35,294
down €35,294 (-54.8%), from €64,398 to €29,104
- Other debts +€28,958
up €28,958 (+526.5%), from €5,500 to €34,458
- Debts after one year -€9,535
down €9,535 (-29.9%), from €31,925 to €22,390
- Reserves +€5,965
up €5,965 (+57.2%), from €10,420 to €16,385
- Tax, wage and social debts -€2,915
down €2,915 (-35.5%), from €8,209 to €5,294
- Gross operating margin -€6,468
down €6,468 (-22.9%), from €28,259 to €21,791
- Other operating charges -€1,636
down €1,636 (-61.7%), from €2,651 to €1,015
- Taxes -€1,340
down €1,340 (-31.9%), from €4,201 to €2,861
- Depreciation +€995
up €995 (+11.1%), from €8,960 to €9,956
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 | €134,685 | €121,838 | -€12,847 | -9.5% |
| Fixed assets | 21/28 | €39,982 | €30,026 | -€9,956 | -24.9% |
| Tangible fixed assets | 22/27 | €39,982 | €30,026 | -€9,956 | -24.9% |
| Furniture and vehicles | 24 | €39,982 | €30,026 | -€9,956 | -24.9% |
| Current assets | 29/58 | €94,703 | €91,812 | -€2,891 | -3.1% |
| Amounts receivable within one year | 40/41 | €8,043 | €8,547 | +€504 | +6.3% |
| Other amounts receivable | 41 | €8,043 | €8,547 | +€504 | +6.3% |
| Cash at bank and in hand | 54/58 | €80,170 | €76,868 | -€3,303 | -4.1% |
| Deferred charges and accrued income | 490/1 | €6,491 | €6,398 | -€93 | -1.4% |
| Total equity and liabilities | 10/49 | €134,685 | €121,838 | -€12,847 | -9.5% |
| Equity | 10/15 | €78,818 | €49,489 | -€29,329 | -37.2% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €10,420 | €16,385 | +€5,965 | +57.2% |
| Distributable reserves | 133 | €10,420 | €16,385 | +€5,965 | +57.2% |
| Profit (loss) carried forward | 14 | €64,398 | €29,104 | -€35,294 | -54.8% |
| Amounts payable | 17/49 | €55,867 | €72,350 | +€16,482 | +29.5% |
| Amounts payable after more than one year | 17 | €31,925 | €22,390 | -€9,535 | -29.9% |
| Financial debts | 170/4 | €31,925 | €22,390 | -€9,535 | -29.9% |
| Amounts payable within one year | 42/48 | €23,942 | €49,959 | +€26,017 | +108.7% |
| Current portion of amounts payable after more than one year | 42 | €9,064 | €9,535 | +€470 | +5.2% |
| Trade debts | 44 | €1,169 | €672 | -€497 | -42.5% |
| Suppliers | 440/4 | €1,169 | €672 | -€497 | -42.5% |
| Taxes, remuneration and social security | 45 | €8,209 | €5,294 | -€2,915 | -35.5% |
| Taxes | 450/3 | €8,209 | €5,294 | -€2,915 | -35.5% |
| Other amounts payable | 47/48 | €5,500 | €34,458 | +€28,958 | +526.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,960 | €9,956 | +€995 | +11.1% |
| Other operating charges | 640/8 | €2,651 | €1,015 | -€1,636 | -61.7% |
| Gross operating margin | 9900 | €28,259 | €21,791 | -€6,468 | -22.9% |
| Operating profit (loss) | 9901 | €16,648 | €10,820 | -€5,828 | -35.0% |
| Financial charges | 65/66B | €2,027 | €1,994 | -€34 | -1.7% |
| Recurring financial charges | 65 | €2,027 | €1,994 | -€34 | -1.7% |
| Profit (loss) for the period before taxes | 9903 | €14,621 | €8,826 | -€5,794 | -39.6% |
| Income taxes | 67/77 | €4,201 | €2,861 | -€1,340 | -31.9% |
| Profit (loss) for the period | 9904 | €10,420 | €5,965 | -€4,454 | -42.8% |
| Profit (loss) for the period to be appropriated | 9905 | €10,420 | €5,965 | -€4,454 | -42.8% |
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 11 October 2026 via checked.be.