MarVik: 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.
MarVik
Largest movements
- Cash -€265,416
down €265,416 (-74.7%), from €355,422 to €90,006
mainly Debts after one year (-€168,500) and Net result for the year (-€87,887)
- Deferred charges and accrued income +€4,515
up €4,515 (+269.8%), from €1,674 to €6,188
- Debts after one year -€168,500
no longer reported in 2025 (was €168,500)
- Profit (loss) carried forward -€87,887
new in 2025: -€87,887
- Other debts -€4,375
no longer reported in 2025 (was €4,375)
- Gross operating margin -€112,999
down €112,999, from €26,488 to -€86,511
- Financial charges -€7,233
down €7,233 (-94.6%), from €7,648 to €414
- Taxes -€3,800
down €3,800 (-94.0%), from €4,044 to €244
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 | €360,560 | €99,393 | -€261,167 | -72.4% |
| Current assets | 29/58 | €360,560 | €99,393 | -€261,167 | -72.4% |
| Amounts receivable within one year | 40/41 | €3,465 | €3,199 | -€266 | -7.7% |
| Other amounts receivable | 41 | €3,465 | €3,199 | -€266 | -7.7% |
| Cash at bank and in hand | 54/58 | €355,422 | €90,006 | -€265,416 | -74.7% |
| Deferred charges and accrued income | 490/1 | €1,674 | €6,188 | +€4,515 | +269.8% |
| Total equity and liabilities | 10/49 | €360,560 | €99,393 | -€261,167 | -72.4% |
| Equity | 10/15 | €181,291 | €93,404 | -€87,887 | -48.5% |
| Reserves | 13 | €181,291 | €181,291 | = | 0.0% |
| Distributable reserves | 133 | €181,291 | €181,291 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€87,887 | -€87,887 | |
| Amounts payable | 17/49 | €179,269 | €5,990 | -€173,279 | -96.7% |
| Amounts payable after more than one year | 17 | €168,500 | - | -€168,500 | |
| Financial debts | 170/4 | €168,500 | - | -€168,500 | |
| Amounts payable within one year | 42/48 | €10,769 | €5,990 | -€4,779 | -44.4% |
| Trade debts | 44 | €3,211 | €4,569 | +€1,359 | +42.3% |
| Suppliers | 440/4 | €3,211 | €4,569 | +€1,359 | +42.3% |
| Taxes, remuneration and social security | 45 | €3,184 | €1,421 | -€1,763 | -55.4% |
| Taxes | 450/3 | €3,184 | €1,421 | -€1,763 | -55.4% |
| Other amounts payable | 47/48 | €4,375 | - | -€4,375 | |
| Other operating charges | 640/8 | €541 | €717 | +€177 | +32.7% |
| Non-recurring operating charges | 66A | €14,424 | - | -€14,424 | |
| Gross operating margin | 9900 | €26,488 | -€86,511 | -€112,999 | |
| Operating profit (loss) | 9901 | €11,522 | -€87,229 | -€98,751 | |
| Financial income | 75/76B | €672 | €0 | -€672 | -100.0% |
| Recurring financial income | 75 | €672 | €0 | -€672 | -100.0% |
| Financial charges | 65/66B | €7,648 | €414 | -€7,233 | -94.6% |
| Recurring financial charges | 65 | €7,648 | €414 | -€7,233 | -94.6% |
| Profit (loss) for the period before taxes | 9903 | €4,547 | -€87,643 | -€92,190 | |
| Income taxes | 67/77 | €4,044 | €244 | -€3,800 | -94.0% |
| Profit (loss) for the period | 9904 | €503 | -€87,887 | -€88,390 | |
| Profit (loss) for the period to be appropriated | 9905 | €503 | -€87,887 | -€88,390 |
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 11 October 2026 via checked.be.