MARVI: 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.
MARVI
Largest movements
- Tangible fixed assets -€11,358
down €11,358 (-2.8%), from €407,833 to €396,475
- Cash +€6,716
up €6,716 (+18.0%), from €37,248 to €43,964
mainly Other debts (+€15,142) and Depreciation (+€11,358)
- Profit (loss) carried forward -€27,172
down €27,172 (-180%), from -€15,095 to -€42,267
- Other debts +€15,142
up €15,142 (+4.3%), from €353,586 to €368,728
- Tax, wage and social debts +€7,662
up €7,662 (+7,188%), from €107 to €7,769
- Gross operating margin +€2,662
up €2,662 (+25.3%), from €10,537 to €13,200
- Financial charges -€821
down €821 (-3.2%), from €25,927 to €25,106
- Other operating charges -€688
down €688 (-15.9%), from €4,338 to €3,650
- Taxes +€152
up €152 (+142%), from €107 to €258
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 | €448,102 | €444,052 | -€4,050 | -0.9% |
| Fixed assets | 21/28 | €408,633 | €397,276 | -€11,358 | -2.8% |
| Tangible fixed assets | 22/27 | €407,833 | €396,475 | -€11,358 | -2.8% |
| Land and buildings | 22 | €407,833 | €396,475 | -€11,358 | -2.8% |
| Financial fixed assets | 28 | €801 | €801 | = | 0.0% |
| Current assets | 29/58 | €39,469 | €46,776 | +€7,307 | +18.5% |
| Amounts receivable within one year | 40/41 | €2,221 | €2,813 | +€592 | +26.6% |
| Other amounts receivable | 41 | €2,221 | €2,813 | +€592 | +26.6% |
| Cash at bank and in hand | 54/58 | €37,248 | €43,964 | +€6,716 | +18.0% |
| Total equity and liabilities | 10/49 | €448,102 | €444,052 | -€4,050 | -0.9% |
| Equity | 10/15 | €93,519 | €66,347 | -€27,172 | -29.1% |
| Contributions | 10/11 | €98,740 | €98,740 | = | 0.0% |
| Reserves | 13 | €9,874 | €9,874 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €0 | - | = | |
| Distributable reserves | 133 | €9,874 | €9,874 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€15,095 | -€42,267 | -€27,172 | -180% |
| Amounts payable | 17/49 | €354,583 | €377,704 | +€23,122 | +6.5% |
| Amounts payable within one year | 42/48 | €354,583 | €377,704 | +€23,122 | +6.5% |
| Trade debts | 44 | €890 | €1,208 | +€318 | +35.7% |
| Suppliers | 440/4 | €890 | €1,208 | +€318 | +35.7% |
| Taxes, remuneration and social security | 45 | €107 | €7,769 | +€7,662 | +7,188% |
| Taxes | 450/3 | €107 | €7,769 | +€7,662 | +7,188% |
| Other amounts payable | 47/48 | €353,586 | €368,728 | +€15,142 | +4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,358 | €11,358 | +€0 | 0.0% |
| Other operating charges | 640/8 | €4,338 | €3,650 | -€688 | -15.9% |
| Gross operating margin | 9900 | €10,537 | €13,200 | +€2,662 | +25.3% |
| Operating profit (loss) | 9901 | -€5,159 | -€1,808 | +€3,351 | +65.0% |
| Financial charges | 65/66B | €25,927 | €25,106 | -€821 | -3.2% |
| Recurring financial charges | 65 | €25,927 | €25,106 | -€821 | -3.2% |
| Profit (loss) for the period before taxes | 9903 | -€31,085 | -€26,914 | +€4,172 | +13.4% |
| Income taxes | 67/77 | €107 | €258 | +€152 | +142% |
| Profit (loss) for the period | 9904 | -€31,192 | -€27,172 | +€4,020 | +12.9% |
| Transfer from tax-exempt reserves | 789 | €831 | €0 | -€831 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | -€30,361 | -€27,172 | +€3,189 | +10.5% |
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 13 October 2026 via checked.be.