MARVI: 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.
MARVI
Largest movements
- Receivables within one year -€30,478
down €30,478 (-41.9%), from €72,698 to €42,220
of which Trade receivables: -€44,139
- Cash +€28,942
up €28,942 (+114.3%), from €25,315 to €54,258
mainly Net result for the year (+€36,278) and Receivables within one year (+€30,478)
- Tangible fixed assets -€5,312
down €5,312 (-19.6%), from €27,171 to €21,858
of which Furniture and vehicles: -€3,513
- Deferred charges and accrued income +€1,401
up €1,401 (+718.1%), from €195 to €1,596
- Profit (loss) carried forward +€18,278
up €18,278 (+53.7%), from €34,055 to €52,333
- Other debts -€9,704
down €9,704 (-31.7%), from €30,637 to €20,932
- Trade debts -€7,623
down €7,623 (-32.7%), from €23,312 to €15,689
- Tax, wage and social debts -€6,807
down €6,807 (-40.4%), from €16,863 to €10,055
of which Remuneration and social security: -€6,163
- Staff costs -€2,971
down €2,971 (-4.0%), from €73,577 to €70,606
- Other operating charges +€1,955
up €1,955 (+25.3%), from €7,734 to €9,688
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 | €125,449 | €120,001 | -€5,448 | -4.3% |
| Fixed assets | 21/28 | €27,241 | €21,928 | -€5,312 | -19.5% |
| Tangible fixed assets | 22/27 | €27,171 | €21,858 | -€5,312 | -19.6% |
| Plant, machinery and equipment | 23 | €13,947 | €12,147 | -€1,800 | -12.9% |
| Furniture and vehicles | 24 | €13,224 | €9,711 | -€3,513 | -26.6% |
| Financial fixed assets | 28 | €70 | €70 | = | 0.0% |
| Current assets | 29/58 | €98,208 | €98,073 | -€136 | -0.1% |
| Amounts receivable within one year | 40/41 | €72,698 | €42,220 | -€30,478 | -41.9% |
| Trade receivables | 40 | €62,842 | €18,703 | -€44,139 | -70.2% |
| Other amounts receivable | 41 | €9,856 | €23,516 | +€13,661 | +138.6% |
| Cash at bank and in hand | 54/58 | €25,315 | €54,258 | +€28,942 | +114.3% |
| Deferred charges and accrued income | 490/1 | €195 | €1,596 | +€1,401 | +718.1% |
| Total equity and liabilities | 10/49 | €125,449 | €120,001 | -€5,448 | -4.3% |
| Equity | 10/15 | €54,635 | €72,913 | +€18,278 | +33.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,980 | €1,980 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,980 | €1,980 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,980 | €1,980 | = | 0.0% |
| Profit (loss) carried forward | 14 | €34,055 | €52,333 | +€18,278 | +53.7% |
| Amounts payable | 17/49 | €70,814 | €47,088 | -€23,726 | -33.5% |
| Amounts payable within one year | 42/48 | €70,814 | €46,676 | -€24,138 | -34.1% |
| Financial debts | 43 | €3 | - | -€3 | |
| Credit institutions | 430/8 | €3 | - | -€3 | |
| Trade debts | 44 | €23,312 | €15,689 | -€7,623 | -32.7% |
| Suppliers | 440/4 | €23,312 | €15,689 | -€7,623 | -32.7% |
| Taxes, remuneration and social security | 45 | €16,863 | €10,055 | -€6,807 | -40.4% |
| Taxes | 450/3 | €3,926 | €3,281 | -€645 | -16.4% |
| Remuneration and social security | 454/9 | €12,937 | €6,774 | -€6,163 | -47.6% |
| Other amounts payable | 47/48 | €30,637 | €20,932 | -€9,704 | -31.7% |
| Accrued charges and deferred income | 492/3 | - | €412 | +€412 | |
| Remuneration, social security and pensions | 62 | €73,577 | €70,606 | -€2,971 | -4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,688 | €5,415 | -€273 | -4.8% |
| Other operating charges | 640/8 | €7,734 | €9,688 | +€1,955 | +25.3% |
| Gross operating margin | 9900 | €136,752 | €135,987 | -€765 | -0.6% |
| Operating profit (loss) | 9901 | €49,754 | €50,278 | +€524 | +1.1% |
| Financial income | 75/76B | €200 | €4 | -€197 | -98.1% |
| Recurring financial income | 75 | €200 | €4 | -€197 | -98.1% |
| Financial charges | 65/66B | €421 | €165 | -€256 | -60.8% |
| Recurring financial charges | 65 | €421 | €165 | -€256 | -60.8% |
| Profit (loss) for the period before taxes | 9903 | €49,533 | €50,117 | +€584 | +1.2% |
| Income taxes | 67/77 | €13,340 | €13,839 | +€499 | +3.7% |
| Profit (loss) for the period | 9904 | €36,193 | €36,278 | +€85 | +0.2% |
| Profit (loss) for the period to be appropriated | 9905 | €36,193 | €36,278 | +€85 | +0.2% |
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.