Marvilde: 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.
Marvilde
Largest movements
- Tangible fixed assets -€21,228
down €21,228 (-3.7%), from €572,311 to €551,083
of which Land and buildings: -€20,711
- Current investments -€8,552
down €8,552 (-82.5%), from €10,365 to €1,813
- Reserves -€11,639
down €11,639 (-2.8%), from €422,885 to €411,245
of which Distributable reserves: -€9,355
- Debts after one year -€9,904
down €9,904 (-11.2%), from €88,569 to €78,666
- Other debts -€7,056
no longer reported in 2025 (was €7,056)
- Gross operating margin +€3,456
up €3,456 (+39.8%), from €8,681 to €12,136
- Depreciation +€293
up €293 (+1.4%), from €20,935 to €21,228
- Other operating charges +€182
up €182 (+10.2%), from €1,777 to €1,959
- Financial charges -€178
down €178 (-9.1%), from €1,967 to €1,788
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 | €585,329 | €557,326 | -€28,003 | -4.8% |
| Fixed assets | 21/28 | €572,341 | €551,113 | -€21,228 | -3.7% |
| Tangible fixed assets | 22/27 | €572,311 | €551,083 | -€21,228 | -3.7% |
| Land and buildings | 22 | €570,838 | €550,127 | -€20,711 | -3.6% |
| Plant, machinery and equipment | 23 | €1,473 | €956 | -€517 | -35.1% |
| Financial fixed assets | 28 | €30 | €30 | = | 0.0% |
| Current assets | 29/58 | €12,989 | €6,213 | -€6,775 | -52.2% |
| Amounts receivable within one year | 40/41 | €28 | €1,573 | +€1,546 | +5529.5% |
| Other amounts receivable | 41 | €28 | €1,573 | +€1,546 | +5529.5% |
| Current investments | 50/53 | €10,365 | €1,813 | -€8,552 | -82.5% |
| Cash at bank and in hand | 54/58 | €2,595 | €2,827 | +€231 | +8.9% |
| Total equity and liabilities | 10/49 | €585,329 | €557,326 | -€28,003 | -4.8% |
| Equity | 10/15 | €441,435 | €429,795 | -€11,639 | -2.6% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Outside capital | 11 | €18,550 | €18,550 | = | 0.0% |
| Other | 1109/19 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €422,885 | €411,245 | -€11,639 | -2.8% |
| Tax-exempt reserves | 132 | €72,047 | €69,763 | -€2,284 | -3.2% |
| Distributable reserves | 133 | €350,838 | €341,482 | -€9,355 | -2.7% |
| Provisions and deferred taxes | 16 | €37,089 | €35,913 | -€1,176 | -3.2% |
| Deferred taxes | 168 | €37,089 | €35,913 | -€1,176 | -3.2% |
| Amounts payable | 17/49 | €106,806 | €91,618 | -€15,188 | -14.2% |
| Amounts payable after more than one year | 17 | €88,569 | €78,666 | -€9,904 | -11.2% |
| Financial debts | 170/4 | €88,569 | €78,666 | -€9,904 | -11.2% |
| Amounts payable within one year | 42/48 | €16,773 | €10,303 | -€6,470 | -38.6% |
| Current portion of amounts payable after more than one year | 42 | €9,717 | €9,904 | +€186 | +1.9% |
| Trade debts | 44 | - | €400 | +€400 | |
| Suppliers | 440/4 | - | €400 | +€400 | |
| Other amounts payable | 47/48 | €7,056 | - | -€7,056 | |
| Accrued charges and deferred income | 492/3 | €1,464 | €2,649 | +€1,186 | +81.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,935 | €21,228 | +€293 | +1.4% |
| Other operating charges | 640/8 | €1,777 | €1,959 | +€182 | +10.2% |
| Gross operating margin | 9900 | €8,681 | €12,136 | +€3,456 | +39.8% |
| Operating profit (loss) | 9901 | -€14,031 | -€11,050 | +€2,981 | +21.2% |
| Financial income | 75/76B | €93 | €24 | -€70 | -74.8% |
| Recurring financial income | 75 | €93 | €24 | -€70 | -74.8% |
| Financial charges | 65/66B | €1,967 | €1,788 | -€178 | -9.1% |
| Recurring financial charges | 65 | €1,967 | €1,788 | -€178 | -9.1% |
| Profit (loss) for the period before taxes | 9903 | -€15,905 | -€12,815 | +€3,090 | +19.4% |
| Transfer from deferred taxes | 780 | €1,176 | €1,176 | = | 0.0% |
| Income taxes | 67/77 | -€23 | - | +€23 | |
| Profit (loss) for the period | 9904 | -€14,706 | -€11,639 | +€3,067 | +20.9% |
| Transfer from tax-exempt reserves | 789 | €2,284 | €2,284 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,422 | -€9,355 | +€3,067 | +24.7% |
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 3 October 2026 via checked.be.