MARVIMMO: 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.
MARVIMMO
Largest movements
- Tangible fixed assets +€254,903
up €254,903 (+70.4%), from €362,291 to €617,194
of which Land and buildings: +€254,903
- Cash -€85,242
down €85,242 (-86.7%), from €98,280 to €13,038
mainly Investment in fixed assets (net) (-€277,083) and Current portion of long-term debt (-€69,623)
- Trade debts +€122,441
up €122,441 (+560%), from €21,854 to €144,295
- Other debts +€81,837
up €81,837 (+75.7%), from €108,038 to €189,875
- Current portion of long-term debt -€69,623
down €69,623 (-96.0%), from €72,528 to €2,905
- Profit (loss) carried forward +€41,969
up €41,969 (+147%), from €28,535 to €70,504
- Gross operating margin +€21,952
up €21,952 (+48.2%), from €45,505 to €67,457
- Financial income -€13,059
no longer reported in 2025 (was €13,059)
of which Financial income: -€13,059
- Other operating charges -€7,095
down €7,095 (-87.1%), from €8,144 to €1,049
- Depreciation +€5,001
up €5,001 (+29.1%), from €17,180 to €22,181
- Financial charges -€3,053
down €3,053 (-57.5%), from €5,312 to €2,259
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 | €491,495 | €662,356 | +€170,861 | +34.8% |
| Fixed assets | 21/28 | €362,291 | €617,194 | +€254,903 | +70.4% |
| Tangible fixed assets | 22/27 | €362,291 | €617,194 | +€254,903 | +70.4% |
| Land and buildings | 22 | €362,291 | €617,194 | +€254,903 | +70.4% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Current assets | 29/58 | €129,204 | €45,162 | -€84,042 | -65.0% |
| Amounts receivable within one year | 40/41 | €30,341 | €32,124 | +€1,783 | +5.9% |
| Trade receivables | 40 | €12,705 | €12,998 | +€293 | +2.3% |
| Other amounts receivable | 41 | €17,636 | €19,126 | +€1,490 | +8.4% |
| Cash at bank and in hand | 54/58 | €98,280 | €13,038 | -€85,242 | -86.7% |
| Deferred charges and accrued income | 490/1 | €583 | - | -€583 | |
| Total equity and liabilities | 10/49 | €491,495 | €662,356 | +€170,861 | +34.8% |
| Equity | 10/15 | €272,334 | €314,302 | +€41,969 | +15.4% |
| Contributions | 10/11 | €62,057 | €62,057 | = | 0.0% |
| Capital | 10 | €62,057 | €62,057 | = | 0.0% |
| Issued capital | 100 | €62,057 | €62,057 | = | 0.0% |
| Reserves | 13 | €181,741 | €181,741 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €175,541 | €175,541 | = | 0.0% |
| Profit (loss) carried forward | 14 | €28,535 | €70,504 | +€41,969 | +147% |
| Amounts payable | 17/49 | €219,161 | €348,053 | +€128,892 | +58.8% |
| Amounts payable after more than one year | 17 | €10,385 | €10,632 | +€247 | +2.4% |
| Financial debts | 170/4 | €10,385 | €10,632 | +€247 | +2.4% |
| Amounts payable within one year | 42/48 | €208,777 | €337,421 | +€128,645 | +61.6% |
| Current portion of amounts payable after more than one year | 42 | €72,528 | €2,905 | -€69,623 | -96.0% |
| Trade debts | 44 | €21,854 | €144,295 | +€122,441 | +560% |
| Suppliers | 440/4 | €21,854 | €144,295 | +€122,441 | +560% |
| Taxes, remuneration and social security | 45 | €6,357 | €347 | -€6,010 | -94.5% |
| Taxes | 450/3 | €6,357 | €347 | -€6,010 | -94.5% |
| Other amounts payable | 47/48 | €108,038 | €189,875 | +€81,837 | +75.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,180 | €22,181 | +€5,001 | +29.1% |
| Other operating charges | 640/8 | €8,144 | €1,049 | -€7,095 | -87.1% |
| Gross operating margin | 9900 | €45,505 | €67,457 | +€21,952 | +48.2% |
| Operating profit (loss) | 9901 | €20,181 | €44,228 | +€24,047 | +119% |
| Financial income | 75/76B | €13,059 | - | -€13,059 | |
| Recurring financial income | 75 | €13,059 | - | -€13,059 | |
| Non-recurring financial income | 76B | €13,059 | - | -€13,059 | |
| Financial charges | 65/66B | €5,312 | €2,259 | -€3,053 | -57.5% |
| Recurring financial charges | 65 | €5,312 | €2,259 | -€3,053 | -57.5% |
| Profit (loss) for the period before taxes | 9903 | €27,928 | €41,969 | +€14,041 | +50.3% |
| Profit (loss) for the period | 9904 | €27,928 | €41,969 | +€14,041 | +50.3% |
| Profit (loss) for the period to be appropriated | 9905 | €27,928 | €41,969 | +€14,041 | +50.3% |
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 19 October 2026 via checked.be.