MarVas: 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.
MarVas
Largest movements
- Receivables within one year +€57,958
up €57,958 (+322.4%), from €17,978 to €75,935
of which Trade receivables: +€57,952
- Cash +€14,327
up €14,327 (+19.7%), from €72,721 to €87,048
mainly Other debts (+€120,794) and Net result for the year (+€71,765)
- Other debts +€120,794
up €120,794 (+1306.7%), from €9,245 to €130,038
- Reserves -€68,235
down €68,235 (-39.2%), from €173,896 to €105,661
- Tax, wage and social debts +€22,832
up €22,832 (+125.8%), from €18,150 to €40,983
of which Taxes: +€22,332
- Trade debts -€3,900
down €3,900 (-46.0%), from €8,480 to €4,579
- Gross operating margin +€70,565
up €70,565 (+295.5%), from €23,879 to €94,444
- Taxes +€15,314
up €15,314 (+352.9%), from €4,340 to €19,654
- Other operating charges +€1,019
up €1,019 (+155.1%), from €657 to €1,676
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 | €211,631 | €283,193 | +€71,562 | +33.8% |
| Fixed assets | 21/28 | €20,510 | €20,000 | -€510 | -2.5% |
| Tangible fixed assets | 22/27 | €510 | - | -€510 | |
| Furniture and vehicles | 24 | €510 | - | -€510 | |
| Financial fixed assets | 28 | €20,000 | €20,000 | = | 0.0% |
| Current assets | 29/58 | €191,121 | €263,193 | +€72,072 | +37.7% |
| Amounts receivable within one year | 40/41 | €17,978 | €75,935 | +€57,958 | +322.4% |
| Trade receivables | 40 | €6,670 | €64,622 | +€57,952 | +868.8% |
| Other amounts receivable | 41 | €11,308 | €11,314 | +€6 | +0.1% |
| Current investments | 50/53 | €100,000 | €100,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €72,721 | €87,048 | +€14,327 | +19.7% |
| Deferred charges and accrued income | 490/1 | €422 | €210 | -€212 | -50.3% |
| Total equity and liabilities | 10/49 | €211,631 | €283,193 | +€71,562 | +33.8% |
| Equity | 10/15 | €175,756 | €107,521 | -€68,235 | -38.8% |
| Contributions | 10/11 | €1,860 | €1,860 | = | 0.0% |
| Reserves | 13 | €173,896 | €105,661 | -€68,235 | -39.2% |
| Distributable reserves | 133 | €173,896 | €105,661 | -€68,235 | -39.2% |
| Amounts payable | 17/49 | €35,875 | €175,672 | +€139,797 | +389.7% |
| Amounts payable within one year | 42/48 | €35,875 | €175,600 | +€139,725 | +389.5% |
| Trade debts | 44 | €8,480 | €4,579 | -€3,900 | -46.0% |
| Suppliers | 440/4 | €8,480 | €4,579 | -€3,900 | -46.0% |
| Taxes, remuneration and social security | 45 | €18,150 | €40,983 | +€22,832 | +125.8% |
| Taxes | 450/3 | €18,150 | €40,483 | +€22,332 | +123.0% |
| Remuneration and social security | 454/9 | - | €500 | +€500 | |
| Other amounts payable | 47/48 | €9,245 | €130,038 | +€120,794 | +1306.7% |
| Accrued charges and deferred income | 492/3 | - | €72 | +€72 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €629 | €510 | -€119 | -18.9% |
| Other operating charges | 640/8 | €657 | €1,676 | +€1,019 | +155.1% |
| Gross operating margin | 9900 | €23,879 | €94,444 | +€70,565 | +295.5% |
| Operating profit (loss) | 9901 | €22,593 | €92,258 | +€69,665 | +308.3% |
| Financial income | 75/76B | €2,116 | €1,916 | -€200 | -9.4% |
| Recurring financial income | 75 | €2,116 | €1,916 | -€200 | -9.4% |
| Financial charges | 65/66B | €2,753 | €2,755 | +€2 | +0.1% |
| Recurring financial charges | 65 | €2,753 | €2,755 | +€2 | +0.1% |
| Profit (loss) for the period before taxes | 9903 | €21,956 | €91,419 | +€69,463 | +316.4% |
| Income taxes | 67/77 | €4,340 | €19,654 | +€15,314 | +352.9% |
| Profit (loss) for the period | 9904 | €17,616 | €71,765 | +€54,149 | +307.4% |
| Profit (loss) for the period to be appropriated | 9905 | €17,616 | €71,765 | +€54,149 | +307.4% |
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 5 October 2026 via checked.be.