MARVENIC: 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.
MARVENIC
Largest movements
- Receivables within one year +€37,131
up €37,131 (+63.5%), from €58,463 to €95,593
of which Trade receivables: +€29,040
- Tangible fixed assets +€19,540
up €19,540 (+230%), from €8,493 to €28,033
- Cash -€10,098
down €10,098 (-3.0%), from €332,930 to €322,832
mainly Contributions, distributions and other (-€54,923) and Receivables within one year (-€37,131)
- Other debts +€25,623
up €25,623 (+77.8%), from €32,956 to €58,579
- Debts after one year +€23,012
up €23,012, from €0 to €23,012
of which Financial debts: +€23,012
- Reserves +€17,911
up €17,911 (+2.5%), from €723,205 to €741,116
- Tax, wage and social debts -€16,645
down €16,645 (-28.6%), from €58,203 to €41,559
- Financial income -€298,800
down €298,800 (-100.0%), from €298,800 to €0
- Gross operating margin -€48,407
down €48,407 (-29.7%), from €163,023 to €114,617
- Taxes -€40,913
down €40,913 (-58.2%), from €70,323 to €29,409
- Financial charges -€9,117
down €9,117 (-92.8%), from €9,822 to €705
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 | €849,720 | €898,546 | +€48,826 | +5.7% |
| Fixed assets | 21/28 | €456,693 | €476,233 | +€19,540 | +4.3% |
| Tangible fixed assets | 22/27 | €8,493 | €28,033 | +€19,540 | +230% |
| Furniture and vehicles | 24 | €8,493 | €28,033 | +€19,540 | +230% |
| Financial fixed assets | 28 | €448,200 | €448,200 | = | 0.0% |
| Current assets | 29/58 | €393,027 | €422,313 | +€29,287 | +7.5% |
| Amounts receivable within one year | 40/41 | €58,463 | €95,593 | +€37,131 | +63.5% |
| Trade receivables | 40 | €57,840 | €86,880 | +€29,040 | +50.2% |
| Other amounts receivable | 41 | €623 | €8,713 | +€8,091 | +1,299% |
| Cash at bank and in hand | 54/58 | €332,930 | €322,832 | -€10,098 | -3.0% |
| Deferred charges and accrued income | 490/1 | €1,635 | €3,888 | +€2,253 | +138% |
| Total equity and liabilities | 10/49 | €849,720 | €898,546 | +€48,826 | +5.7% |
| Equity | 10/15 | €742,805 | €760,716 | +€17,911 | +2.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €723,205 | €741,116 | +€17,911 | +2.5% |
| Distributable reserves | 133 | €723,205 | €741,116 | +€17,911 | +2.5% |
| Profit (loss) carried forward | 14 | €1,000 | €1,000 | = | 0.0% |
| Amounts payable | 17/49 | €106,914 | €137,830 | +€30,916 | +28.9% |
| Amounts payable after more than one year | 17 | €0 | €23,012 | +€23,012 | |
| Financial debts | 170/4 | €0 | €23,012 | +€23,012 | |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €106,914 | €114,818 | +€7,903 | +7.4% |
| Current portion of amounts payable after more than one year | 42 | €8,692 | €5,616 | -€3,076 | -35.4% |
| Trade debts | 44 | €7,064 | €9,064 | +€2,001 | +28.3% |
| Suppliers | 440/4 | €7,064 | €9,064 | +€2,001 | +28.3% |
| Taxes, remuneration and social security | 45 | €58,203 | €41,559 | -€16,645 | -28.6% |
| Taxes | 450/3 | €58,203 | €41,559 | -€16,645 | -28.6% |
| Other amounts payable | 47/48 | €32,956 | €58,579 | +€25,623 | +77.8% |
| Non-recurring operating income | 76A | - | €826 | +€826 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,493 | €10,010 | +€1,517 | +17.9% |
| Other operating charges | 640/8 | €623 | €1,660 | +€1,037 | +166% |
| Gross operating margin | 9900 | €163,023 | €114,617 | -€48,407 | -29.7% |
| Operating profit (loss) | 9901 | €153,907 | €102,947 | -€50,960 | -33.1% |
| Financial income | 75/76B | €298,800 | €0 | -€298,800 | -100.0% |
| Recurring financial income | 75 | €298,800 | €0 | -€298,800 | -100.0% |
| Financial charges | 65/66B | €9,822 | €705 | -€9,117 | -92.8% |
| Recurring financial charges | 65 | €9,822 | €705 | -€9,117 | -92.8% |
| Profit (loss) for the period before taxes | 9903 | €442,886 | €102,243 | -€340,643 | -76.9% |
| Income taxes | 67/77 | €70,323 | €29,409 | -€40,913 | -58.2% |
| Profit (loss) for the period | 9904 | €372,563 | €72,833 | -€299,730 | -80.5% |
| Profit (loss) for the period to be appropriated | 9905 | €372,563 | €72,833 | -€299,730 | -80.5% |
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 14 October 2026 via checked.be.