MARVADI: 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.
MARVADI
Largest movements
- Tangible fixed assets -€35,529
down €35,529 (-12.2%), from €290,570 to €255,041
of which Land and buildings: -€35,294
- Cash +€32,273
up €32,273 (+12.9%), from €250,213 to €282,486
mainly Depreciation (+€35,529) and Net result for the year (+€7,434)
- Reserves +€7,434
up €7,434 (+5.7%), from €130,958 to €138,392
of which Distributable reserves: +€7,434
- Gross operating margin +€24,428
up €24,428 (+101%), from €24,235 to €48,663
- Depreciation -€1,493
down €1,493 (-4.0%), from €37,022 to €35,529
- Financial income -€938
down €938 (-77.5%), from €1,211 to €273
- Other operating charges +€534
up €534 (+9.9%), from €5,394 to €5,928
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 | €544,335 | €544,283 | -€52 | 0.0% |
| Fixed assets | 21/28 | €290,570 | €255,041 | -€35,529 | -12.2% |
| Tangible fixed assets | 22/27 | €290,570 | €255,041 | -€35,529 | -12.2% |
| Land and buildings | 22 | €290,028 | €254,734 | -€35,294 | -12.2% |
| Plant, machinery and equipment | 23 | €542 | €307 | -€235 | -43.4% |
| Current assets | 29/58 | €253,765 | €289,242 | +€35,477 | +14.0% |
| Amounts receivable within one year | 40/41 | €1,273 | €4,362 | +€3,089 | +243% |
| Trade receivables | 40 | €648 | €3,580 | +€2,932 | +452% |
| Other amounts receivable | 41 | €625 | €782 | +€157 | +25.1% |
| Cash at bank and in hand | 54/58 | €250,213 | €282,486 | +€32,273 | +12.9% |
| Deferred charges and accrued income | 490/1 | €2,279 | €2,394 | +€115 | +5.0% |
| Total equity and liabilities | 10/49 | €544,335 | €544,283 | -€52 | 0.0% |
| Equity | 10/15 | €461,958 | €469,392 | +€7,434 | +1.6% |
| Contributions | 10/11 | €331,000 | €331,000 | = | 0.0% |
| Capital | 10 | €331,000 | €331,000 | = | 0.0% |
| Issued capital | 100 | €331,000 | €331,000 | = | 0.0% |
| Reserves | 13 | €130,958 | €138,392 | +€7,434 | +5.7% |
| Non-distributable reserves | 130/1 | €33,100 | €33,100 | = | 0.0% |
| Legal reserve | 130 | €33,100 | €33,100 | = | 0.0% |
| Distributable reserves | 133 | €97,858 | €105,292 | +€7,434 | +7.6% |
| Amounts payable | 17/49 | €82,377 | €74,891 | -€7,486 | -9.1% |
| Amounts payable within one year | 42/48 | €82,377 | €74,891 | -€7,486 | -9.1% |
| Trade debts | 44 | €4,962 | €117 | -€4,845 | -97.6% |
| Suppliers | 440/4 | €4,962 | €117 | -€4,845 | -97.6% |
| Taxes, remuneration and social security | 45 | €22,671 | €17,831 | -€4,840 | -21.3% |
| Taxes | 450/3 | €288 | €354 | +€66 | +22.9% |
| Remuneration and social security | 454/9 | €22,383 | €17,477 | -€4,906 | -21.9% |
| Other amounts payable | 47/48 | €54,744 | €56,943 | +€2,199 | +4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,022 | €35,529 | -€1,493 | -4.0% |
| Other operating charges | 640/8 | €5,394 | €5,928 | +€534 | +9.9% |
| Gross operating margin | 9900 | €24,235 | €48,663 | +€24,428 | +101% |
| Operating profit (loss) | 9901 | -€18,181 | €7,206 | +€25,387 | |
| Financial income | 75/76B | €1,211 | €273 | -€938 | -77.5% |
| Recurring financial income | 75 | €1,211 | €273 | -€938 | -77.5% |
| Financial charges | 65/66B | €44 | €45 | +€1 | +2.3% |
| Recurring financial charges | 65 | €44 | €45 | +€1 | +2.3% |
| Profit (loss) for the period before taxes | 9903 | -€17,014 | €7,434 | +€24,448 | |
| Profit (loss) for the period | 9904 | -€17,014 | €7,434 | +€24,448 | |
| Profit (loss) for the period to be appropriated | 9905 | -€17,014 | €7,434 | +€24,448 |
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 13 October 2026 via checked.be.