Marvex: 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.
Marvex
Largest movements
- Receivables within one year -€25,798
down €25,798 (-16.0%), from €161,654 to €135,856
of which Trade receivables: -€32,143
- Cash -€2,501
down €2,501 (-30.0%), from €8,347 to €5,846
mainly Tax, wage and social debts (-€30,385) and Accrued charges and deferred income (-€28,449)
- Tax, wage and social debts -€30,385
no longer reported in 2025 (was €30,385)
- Trade debts +€30,384
up €30,384 (+26.9%), from €112,806 to €143,190
- Accrued charges and deferred income -€28,449
no longer reported in 2025 (was €28,449)
- Other operating charges +€11,890
up €11,890 (+182%), from €6,538 to €18,428
- Gross operating margin +€10,626
up €10,626 (+114%), from €9,350 to €19,976
- Depreciation -€1,669
no longer reported in 2025 (was €1,669)
- Taxes +€275
up €275 (+25.5%), from €1,080 to €1,355
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 | €170,001 | €141,702 | -€28,299 | -16.6% |
| Current assets | 29/58 | €170,001 | €141,702 | -€28,299 | -16.6% |
| Amounts receivable within one year | 40/41 | €161,654 | €135,856 | -€25,798 | -16.0% |
| Trade receivables | 40 | €161,654 | €129,511 | -€32,143 | -19.9% |
| Other amounts receivable | 41 | - | €6,345 | +€6,345 | |
| Cash at bank and in hand | 54/58 | €8,347 | €5,846 | -€2,501 | -30.0% |
| Total equity and liabilities | 10/49 | €170,001 | €141,702 | -€28,299 | -16.6% |
| Equity | 10/15 | -€1,639 | -€1,488 | +€151 | +9.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €16,024 | €16,025 | +€1 | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €14,164 | €14,165 | +€1 | 0.0% |
| Profit (loss) carried forward | 14 | -€23,863 | -€23,713 | +€150 | +0.6% |
| Amounts payable | 17/49 | €171,640 | €143,190 | -€28,450 | -16.6% |
| Amounts payable within one year | 42/48 | €143,191 | €143,190 | -€1 | 0.0% |
| Trade debts | 44 | €112,806 | €143,190 | +€30,384 | +26.9% |
| Suppliers | 440/4 | €112,806 | €143,190 | +€30,384 | +26.9% |
| Taxes, remuneration and social security | 45 | €30,385 | - | -€30,385 | |
| Taxes | 450/3 | €30,385 | - | -€30,385 | |
| Accrued charges and deferred income | 492/3 | €28,449 | - | -€28,449 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,669 | - | -€1,669 | |
| Other operating charges | 640/8 | €6,538 | €18,428 | +€11,890 | +182% |
| Gross operating margin | 9900 | €9,350 | €19,976 | +€10,626 | +114% |
| Operating profit (loss) | 9901 | €1,143 | €1,548 | +€405 | +35.4% |
| Financial charges | 65/66B | €60 | €42 | -€18 | -30.0% |
| Recurring financial charges | 65 | €60 | €42 | -€18 | -30.0% |
| Profit (loss) for the period before taxes | 9903 | €1,083 | €1,506 | +€423 | +39.1% |
| Income taxes | 67/77 | €1,080 | €1,355 | +€275 | +25.5% |
| Profit (loss) for the period | 9904 | €3 | €151 | +€148 | +4,933% |
| Profit (loss) for the period to be appropriated | 9905 | €3 | €151 | +€148 | +4,933% |
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 17 October 2026 via checked.be.