MARVELIXS: 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.
MARVELIXS
Largest movements
- Receivables within one year +€108,957
up €108,957 (+454.2%), from €23,987 to €132,944
of which Trade receivables: +€110,827
- Cash -€42,922
down €42,922 (-54.2%), from €79,149 to €36,227
mainly Contributions, distributions and other (-€210,584) and Receivables within one year (-€108,957)
- Other debts +€95,292
new in 2025: €95,292
- Reserves -€76,914
down €76,914 (-80.5%), from €95,584 to €18,670
- Tax, wage and social debts +€48,645
up €48,645 (+372.1%), from €13,072 to €61,717
- Gross operating margin +€82,860
up €82,860 (+88.1%), from €94,093 to €176,953
- Taxes +€22,269
up €22,269 (+117.0%), from €19,035 to €41,304
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 | €117,700 | €183,563 | +€65,863 | +56.0% |
| Fixed assets | 21/28 | €14,166 | €14,000 | -€166 | -1.2% |
| Tangible fixed assets | 22/27 | €166 | - | -€166 | |
| Furniture and vehicles | 24 | €166 | - | -€166 | |
| Financial fixed assets | 28 | €14,000 | €14,000 | = | 0.0% |
| Current assets | 29/58 | €103,534 | €169,563 | +€66,029 | +63.8% |
| Amounts receivable within one year | 40/41 | €23,987 | €132,944 | +€108,957 | +454.2% |
| Trade receivables | 40 | €22,117 | €132,944 | +€110,827 | +501.1% |
| Other amounts receivable | 41 | €1,870 | - | -€1,870 | |
| Cash at bank and in hand | 54/58 | €79,149 | €36,227 | -€42,922 | -54.2% |
| Deferred charges and accrued income | 490/1 | €399 | €392 | -€6 | -1.6% |
| Total equity and liabilities | 10/49 | €117,700 | €183,563 | +€65,863 | +56.0% |
| Equity | 10/15 | €98,084 | €21,170 | -€76,914 | -78.4% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €95,584 | €18,670 | -€76,914 | -80.5% |
| Distributable reserves | 133 | €95,584 | €18,670 | -€76,914 | -80.5% |
| Amounts payable | 17/49 | €19,616 | €162,393 | +€142,777 | +727.9% |
| Amounts payable within one year | 42/48 | €19,616 | €162,393 | +€142,777 | +727.9% |
| Trade debts | 44 | €6,544 | €5,384 | -€1,160 | -17.7% |
| Suppliers | 440/4 | €6,544 | €5,384 | -€1,160 | -17.7% |
| Taxes, remuneration and social security | 45 | €13,072 | €61,717 | +€48,645 | +372.1% |
| Taxes | 450/3 | €13,072 | €61,717 | +€48,645 | +372.1% |
| Other amounts payable | 47/48 | - | €95,292 | +€95,292 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €185 | €166 | -€19 | -10.3% |
| Other operating charges | 640/8 | €2,355 | €1,615 | -€739 | -31.4% |
| Gross operating margin | 9900 | €94,093 | €176,953 | +€82,860 | +88.1% |
| Operating profit (loss) | 9901 | €91,554 | €175,172 | +€83,618 | +91.3% |
| Financial charges | 65/66B | €69 | €198 | +€129 | +186.5% |
| Recurring financial charges | 65 | €69 | €198 | +€129 | +186.5% |
| Profit (loss) for the period before taxes | 9903 | €91,485 | €174,974 | +€83,489 | +91.3% |
| Income taxes | 67/77 | €19,035 | €41,304 | +€22,269 | +117.0% |
| Profit (loss) for the period | 9904 | €72,450 | €133,670 | +€61,220 | +84.5% |
| Profit (loss) for the period to be appropriated | 9905 | €72,450 | €133,670 | +€61,220 | +84.5% |
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 7 October 2026 via checked.be.