MARVAN: what changed
Two fiscal 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.
What changed
MARVAN
NACE 47.110, Non-specialised retail sale with food, beverages or tobacco predominating
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€189,433
2024 · -€37,930+€227,363
Equity
€628,025
2024 · €438,593+€189,433
Cash
€388,539
2024 · €312,814+€75,725
Balance sheet total
€9.5m
2024 · €9.6m-€119,350
Largest movements
Assets
- Receivables within one year -€174,972
down €174,972 (-14.5%), from €1.2m to €1.0m
of which Other amounts receivable: -€221,450
Equity and liabilities
- Debts after one year -€476,445
down €476,445 (-12.0%), from €4.0m to €3.5m
- Other debts +€273,251
up €273,251 (+23.0%), from €1.2m to €1.5m
- Trade debts -€194,686
down €194,686 (-8.3%), from €2.4m to €2.2m
- Profit (loss) carried forward +€189,433
up €189,433 (+39.6%), from -€478,651 to -€289,219
- Short-term financial debts +€125,000
up €125,000 (+12.5%), from €1.0m to €1.1m
Income statement
- Turnover +€451,758
up €451,758 (+3.1%), from €14.4m to €14.8m
- Services and other goods +€170,706
up €170,706 (+11.4%), from €1.5m to €1.7m
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.
Result 2024
-€37,930
Turnover
+€451,758
Other operating income
-€42,620
Goods and materials
-€105,542
Services and other goods
-€170,706
Staff costs
+€92,701
Depreciation
-€13,996
Other operating charges
-€629
Other operating items
+€18,747
Financial income
-€838
Financial charges
-€1,589
Taxes
+€76
Result 2025
€189,433
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.
From operations
+€945,462
Investment
-€481,838
Financing
-€387,900
Cash 2024
€312,814
From operations (derived)
+€945,462
Net result for the year
+€189,433
Depreciation
+€519,832
Stocks and contracts
-€15,139
Receivables within one year
+€174,972
Deferred charges and accrued income
-€2,753
Trade debts
-€194,686
Tax, wage and social debts
+€2,898
Other debts
+€273,251
Accrued charges and deferred income
-€2,346
Investment (derived)
-€481,838
Investment in fixed assets (net)
-€481,838
Financing
-€387,900
Debts after one year
-€476,445
Current portion of long-term debt
-€36,455
Short-term financial debts
+€125,000
Cash 2025
€388,539
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,635,442 | €9,516,092 | -€119,350 | -1.2% |
| Fixed assets | 21/28 | €7,370,348 | €7,332,354 | -€37,994 | -0.5% |
| Tangible fixed assets | 22/27 | €7,353,814 | €7,315,820 | -€37,994 | -0.5% |
| Land and buildings | 22 | €6,679,613 | €6,695,686 | +€16,073 | +0.2% |
| Plant, machinery and equipment | 23 | €552,165 | €490,343 | -€61,822 | -11.2% |
| Furniture and vehicles | 24 | €108,207 | €87,665 | -€20,542 | -19.0% |
| Leasing and similar rights | 25 | €4,166 | €32,804 | +€28,638 | +687.5% |
| Other tangible fixed assets | 26 | €9,663 | €9,322 | -€341 | -3.5% |
| Financial fixed assets | 28 | €16,534 | €16,534 | = | 0.0% |
| Other financial fixed assets | 284/8 | €16,534 | €16,534 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €16,534 | €16,534 | = | 0.0% |
| Current assets | 29/58 | €2,265,094 | €2,183,738 | -€81,356 | -3.6% |
| Stocks and contracts in progress | 3 | €737,306 | €752,445 | +€15,139 | +2.1% |
| Stocks | 30/36 | €737,306 | €752,445 | +€15,139 | +2.1% |
| Goods purchased for resale | 34 | €737,306 | €752,445 | +€15,139 | +2.1% |
| Amounts receivable within one year | 40/41 | €1,208,714 | €1,033,742 | -€174,972 | -14.5% |
| Trade receivables | 40 | €351,314 | €397,792 | +€46,477 | +13.2% |
| Other amounts receivable | 41 | €857,400 | €635,950 | -€221,450 | -25.8% |
| Cash at bank and in hand | 54/58 | €312,814 | €388,539 | +€75,725 | +24.2% |
| Deferred charges and accrued income | 490/1 | €6,259 | €9,012 | +€2,753 | +44.0% |
| Total equity and liabilities | 10/49 | €9,635,442 | €9,516,092 | -€119,350 | -1.2% |
| Equity | 10/15 | €438,593 | €628,025 | +€189,433 | +43.2% |
| Contributions | 10/11 | €833,704 | €833,704 | = | 0.0% |
| Capital | 10 | €833,704 | €833,704 | = | 0.0% |
| Issued capital | 100 | €833,704 | €833,704 | = | 0.0% |
| Reserves | 13 | €83,540 | €83,540 | = | 0.0% |
| Non-distributable reserves | 130/1 | €83,370 | €83,370 | = | 0.0% |
| Legal reserve | 130 | €83,370 | €83,370 | = | 0.0% |
| Distributable reserves | 133 | €170 | €170 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€478,651 | -€289,219 | +€189,433 | +39.6% |
| Amounts payable | 17/49 | €9,196,849 | €8,888,067 | -€308,783 | -3.4% |
| Amounts payable after more than one year | 17 | €3,975,860 | €3,499,415 | -€476,445 | -12.0% |
| Financial debts | 170/4 | €3,975,860 | €3,499,415 | -€476,445 | -12.0% |
| Leasing and similar obligations | 172 | €1,694 | €25,620 | +€23,926 | +1412.2% |
| Credit institutions | 173 | €3,974,165 | €3,473,795 | -€500,371 | -12.6% |
| Amounts payable within one year | 42/48 | €5,218,644 | €5,388,652 | +€170,008 | +3.3% |
| Current portion of amounts payable after more than one year | 42 | €515,172 | €478,717 | -€36,455 | -7.1% |
| Financial debts | 43 | €1,000,000 | €1,125,000 | +€125,000 | +12.5% |
| Credit institutions | 430/8 | €1,000,000 | €1,125,000 | +€125,000 | +12.5% |
| Trade debts | 44 | €2,352,393 | €2,157,706 | -€194,686 | -8.3% |
| Suppliers | 440/4 | €2,352,393 | €2,157,706 | -€194,686 | -8.3% |
| Taxes, remuneration and social security | 45 | €161,244 | €164,142 | +€2,898 | +1.8% |
| Taxes | 450/3 | €10,714 | €25,947 | +€15,233 | +142.2% |
| Remuneration and social security | 454/9 | €150,529 | €138,195 | -€12,335 | -8.2% |
| Other amounts payable | 47/48 | €1,189,836 | €1,463,086 | +€273,251 | +23.0% |
| Accrued charges and deferred income | 492/3 | €2,346 | €0 | -€2,346 | -100.0% |
| Operating income | 70/76A | €15,279,534 | €15,707,419 | +€427,885 | +2.8% |
| Turnover | 70 | €14,373,254 | €14,825,011 | +€451,758 | +3.1% |
| Other operating income | 74 | €905,591 | €862,971 | -€42,620 | -4.7% |
| Non-recurring operating income | 76A | €689 | €19,437 | +€18,747 | +2719.5% |
| Operating charges | 60/66A | €15,178,298 | €15,376,469 | +€198,172 | +1.3% |
| Goods for resale, raw materials and consumables | 60 | €12,062,770 | €12,168,312 | +€105,542 | +0.9% |
| Purchases | 600/8 | €11,956,793 | €12,183,451 | +€226,658 | +1.9% |
| Change in stocks: decrease (increase) | 609 | €105,977 | -€15,139 | -€121,116 | |
| Services and other goods | 61 | €1,493,854 | €1,664,560 | +€170,706 | +11.4% |
| Remuneration, social security and pensions | 62 | €1,074,123 | €981,422 | -€92,701 | -8.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €505,837 | €519,832 | +€13,996 | +2.8% |
| Other operating charges | 640/8 | €41,714 | €42,343 | +€629 | +1.5% |
| Operating profit (loss) | 9901 | €101,236 | €330,950 | +€229,714 | +226.9% |
| Financial income | 75/76B | €8,025 | €7,187 | -€838 | -10.4% |
| Recurring financial income | 75 | €8,025 | €7,187 | -€838 | -10.4% |
| Other financial income | 752/9 | €8,025 | €7,187 | -€838 | -10.4% |
| Financial charges | 65/66B | €146,416 | €148,006 | +€1,589 | +1.1% |
| Recurring financial charges | 65 | €146,416 | €148,006 | +€1,589 | +1.1% |
| Debt charges | 650 | €141,955 | €138,983 | -€2,973 | -2.1% |
| Other financial charges | 652/9 | €4,461 | €9,023 | +€4,562 | +102.3% |
| Profit (loss) for the period before taxes | 9903 | -€37,155 | €190,132 | +€227,287 | |
| Income taxes | 67/77 | €775 | €699 | -€76 | -9.8% |
| Taxes | 670/3 | €775 | €699 | -€76 | -9.8% |
| Profit (loss) for the period | 9904 | -€37,930 | €189,433 | +€227,363 | |
| Profit (loss) for the period to be appropriated | 9905 | -€37,930 | €189,433 | +€227,363 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.