Marval: what changed
Marval
Largest movements
- Cash -€5,497
down €5,497 (-45.7%), from €12,035 to €6,539
mainly Receivables within one year (-€4,049) and Accrued charges and deferred income (-€2,524)
- Receivables within one year +€4,049
up €4,049 (+6.6%), from €61,724 to €65,773
of which Other amounts receivable: +€2,343
- Tangible fixed assets -€1,851
down €1,851 (-8.1%), from €22,921 to €21,070
of which Plant, machinery and equipment: -€1,851
- Accrued charges and deferred income -€2,524
no longer reported in 2025 (was €2,524)
- Taxes +€2,536
no longer reported in 2025 (was -€2,536)
- Depreciation -€1,900
down €1,900 (-50.7%), from €3,751 to €1,851
- Gross operating margin +€1,390
up €1,390 (+102%), from €1,369 to €2,759
- Financial income -€173
down €173 (-5.9%), from €2,930 to €2,756
- Other operating charges +€117
up €117 (+3.1%), from €3,715 to €3,831
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €97,778 | €94,480 | -€3,298 | -3.4% |
| Fixed assets | 21/28 | €24,019 | €22,168 | -€1,851 | -7.7% |
| Tangible fixed assets | 22/27 | €22,921 | €21,070 | -€1,851 | -8.1% |
| Land and buildings | 22 | €18,151 | €18,151 | = | 0.0% |
| Plant, machinery and equipment | 23 | €4,770 | €2,919 | -€1,851 | -38.8% |
| Financial fixed assets | 28 | €1,098 | €1,098 | = | 0.0% |
| Current assets | 29/58 | €73,759 | €72,312 | -€1,447 | -2.0% |
| Amounts receivable within one year | 40/41 | €61,724 | €65,773 | +€4,049 | +6.6% |
| Trade receivables | 40 | €1,194 | €2,900 | +€1,706 | +143% |
| Other amounts receivable | 41 | €60,530 | €62,873 | +€2,343 | +3.9% |
| Cash at bank and in hand | 54/58 | €12,035 | €6,539 | -€5,497 | -45.7% |
| Total equity and liabilities | 10/49 | €97,778 | €94,480 | -€3,298 | -3.4% |
| Equity | 10/15 | €91,790 | €91,580 | -€210 | -0.2% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €23,550 | €23,550 | = | 0.0% |
| Non-distributable reserves | 130/1 | €23,550 | €23,550 | = | 0.0% |
| Legal reserve | 130 | €23,550 | €23,550 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,240 | €6,030 | -€210 | -3.4% |
| Amounts payable | 17/49 | €5,989 | €2,900 | -€3,089 | -51.6% |
| Amounts payable within one year | 42/48 | €3,464 | €2,900 | -€564 | -16.3% |
| Trade debts | 44 | €3,464 | €2,900 | -€564 | -16.3% |
| Suppliers | 440/4 | €3,464 | €2,900 | -€564 | -16.3% |
| Accrued charges and deferred income | 492/3 | €2,524 | - | -€2,524 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,751 | €1,851 | -€1,900 | -50.7% |
| Other operating charges | 640/8 | €3,715 | €3,831 | +€117 | +3.1% |
| Gross operating margin | 9900 | €1,369 | €2,759 | +€1,390 | +102% |
| Operating profit (loss) | 9901 | -€6,097 | -€2,924 | +€3,173 | +52.0% |
| Financial income | 75/76B | €2,930 | €2,756 | -€173 | -5.9% |
| Recurring financial income | 75 | €2,930 | €2,756 | -€173 | -5.9% |
| Financial charges | 65/66B | €38 | €42 | +€5 | +13.0% |
| Recurring financial charges | 65 | €38 | €42 | +€5 | +13.0% |
| Profit (loss) for the period before taxes | 9903 | -€3,205 | -€210 | +€2,995 | +93.5% |
| Income taxes | 67/77 | -€2,536 | - | +€2,536 | |
| Profit (loss) for the period | 9904 | -€669 | -€210 | +€459 | +68.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€669 | -€210 | +€459 | +68.6% |
Next steps
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 7 November 2026 via checked.be.