Marval & Vincent: 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.
Marval & Vincent
Largest movements
- Cash +€83,744
up €83,744 (+124%), from €67,580 to €151,324
mainly Accrued charges and deferred income (+€100,000) and Depreciation (+€32,826)
- Tangible fixed assets -€32,022
down €32,022 (-18.5%), from €172,848 to €140,826
of which Furniture and vehicles: -€23,154
- Receivables within one year -€19,876
down €19,876 (-11.3%), from €176,038 to €156,162
of which Trade receivables: -€23,029
- Stocks and contracts -€14,389
down €14,389 (-9.3%), from €153,974 to €139,585
- Accrued charges and deferred income +€100,000
new in 2025: €100,000
- Trade debts -€37,799
down €37,799 (-39.2%), from €96,347 to €58,548
- Debts after one year -€36,813
down €36,813 (-49.1%), from €74,917 to €38,103
- Current portion of long-term debt -€8,601
down €8,601 (-39.6%), from €21,725 to €13,124
- Staff costs +€7,038
up €7,038 (+8.2%), from €85,603 to €92,642
- Financial charges -€6,221
down €6,221 (-34.6%), from €17,992 to €11,772
- Financial income -€3,027
down €3,027 (-35.4%), from €8,541 to €5,514
- Depreciation -€1,599
down €1,599 (-4.6%), from €34,425 to €32,826
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 | €571,598 | €588,251 | +€16,653 | +2.9% |
| Fixed assets | 21/28 | €174,006 | €141,179 | -€32,826 | -18.9% |
| Intangible fixed assets | 21 | €1,158 | €354 | -€804 | -69.5% |
| Tangible fixed assets | 22/27 | €172,848 | €140,826 | -€32,022 | -18.5% |
| Land and buildings | 22 | €125,231 | €119,825 | -€5,406 | -4.3% |
| Plant, machinery and equipment | 23 | €8,661 | €5,199 | -€3,462 | -40.0% |
| Furniture and vehicles | 24 | €38,956 | €15,802 | -€23,154 | -59.4% |
| Current assets | 29/58 | €397,592 | €447,072 | +€49,479 | +12.4% |
| Stocks and contracts in progress | 3 | €153,974 | €139,585 | -€14,389 | -9.3% |
| Stocks | 30/36 | €153,974 | €139,585 | -€14,389 | -9.3% |
| Amounts receivable within one year | 40/41 | €176,038 | €156,162 | -€19,876 | -11.3% |
| Trade receivables | 40 | €97,987 | €74,958 | -€23,029 | -23.5% |
| Other amounts receivable | 41 | €78,051 | €81,204 | +€3,153 | +4.0% |
| Cash at bank and in hand | 54/58 | €67,580 | €151,324 | +€83,744 | +124% |
| Total equity and liabilities | 10/49 | €571,598 | €588,251 | +€16,653 | +2.9% |
| Equity | 10/15 | €210,718 | €215,758 | +€5,041 | +2.4% |
| Contributions | 10/11 | €95,000 | €95,000 | = | 0.0% |
| Reserves | 13 | €95,378 | €95,378 | = | 0.0% |
| Non-distributable reserves | 130/1 | €9,500 | €9,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €9,500 | €9,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,917 | €3,917 | = | 0.0% |
| Distributable reserves | 133 | €81,962 | €81,962 | = | 0.0% |
| Profit (loss) carried forward | 14 | €20,339 | €25,380 | +€5,041 | +24.8% |
| Amounts payable | 17/49 | €360,881 | €372,493 | +€11,612 | +3.2% |
| Amounts payable after more than one year | 17 | €74,917 | €38,103 | -€36,813 | -49.1% |
| Financial debts | 170/4 | €74,917 | €38,103 | -€36,813 | -49.1% |
| Amounts payable within one year | 42/48 | €285,964 | €234,389 | -€51,575 | -18.0% |
| Current portion of amounts payable after more than one year | 42 | €21,725 | €13,124 | -€8,601 | -39.6% |
| Financial debts | 43 | €152,973 | €148,509 | -€4,464 | -2.9% |
| Credit institutions | 430/8 | €152,973 | €148,509 | -€4,464 | -2.9% |
| Trade debts | 44 | €96,347 | €58,548 | -€37,799 | -39.2% |
| Suppliers | 440/4 | €96,347 | €58,548 | -€37,799 | -39.2% |
| Taxes, remuneration and social security | 45 | €14,919 | €14,208 | -€710 | -4.8% |
| Taxes | 450/3 | €11,243 | €7,552 | -€3,690 | -32.8% |
| Remuneration and social security | 454/9 | €3,676 | €6,656 | +€2,980 | +81.1% |
| Accrued charges and deferred income | 492/3 | - | €100,000 | +€100,000 | |
| Non-recurring operating income | 76A | €345 | €66,835 | +€66,490 | +19,274% |
| Remuneration, social security and pensions | 62 | €85,603 | €92,642 | +€7,038 | +8.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,425 | €32,826 | -€1,599 | -4.6% |
| Other operating charges | 640/8 | €718 | €420 | -€298 | -41.5% |
| Gross operating margin | 9900 | €139,763 | €138,611 | -€1,152 | -0.8% |
| Operating profit (loss) | 9901 | €19,017 | €12,723 | -€6,294 | -33.1% |
| Financial income | 75/76B | €8,541 | €5,514 | -€3,027 | -35.4% |
| Recurring financial income | 75 | €8,541 | €5,514 | -€3,027 | -35.4% |
| Financial charges | 65/66B | €17,992 | €11,772 | -€6,221 | -34.6% |
| Recurring financial charges | 65 | €17,992 | €11,772 | -€6,221 | -34.6% |
| Profit (loss) for the period before taxes | 9903 | €9,565 | €6,465 | -€3,100 | -32.4% |
| Income taxes | 67/77 | €140 | €1,425 | +€1,285 | +921% |
| Profit (loss) for the period | 9904 | €9,426 | €5,041 | -€4,385 | -46.5% |
| Profit (loss) for the period to be appropriated | 9905 | €9,426 | €5,041 | -€4,385 | -46.5% |
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 22 October 2026 via checked.be.