MARVINCE: 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.
MARVINCE
Largest movements
- Receivables within one year +€48,108
up €48,108 (+164.8%), from €29,183 to €77,291
of which Other amounts receivable: +€56,106
- Cash -€29,849
down €29,849 (-28.5%), from €104,828 to €74,979
mainly Contributions, distributions and other (-€55,000) and Receivables within one year (-€48,108)
- Tangible fixed assets -€9,457
down €9,457 (-29.8%), from €31,708 to €22,252
of which Furniture and vehicles: -€6,016
- Deferred charges and accrued income +€2,051
up €2,051 (+77.6%), from €2,645 to €4,696
- Other debts +€55,175
up €55,175 (+3471.7%), from €1,589 to €56,764
- Reserves -€45,756
down €45,756 (-47.7%), from €95,931 to €50,175
of which Distributable reserves: -€45,756
- Gross operating margin -€33,232
down €33,232 (-17.5%), from €189,775 to €156,543
- Taxes -€7,738
down €7,738 (-63.2%), from €12,238 to €4,500
- Financial charges -€2,304
down €2,304 (-33.3%), from €6,920 to €4,616
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 | €169,553 | €180,407 | +€10,853 | +6.4% |
| Fixed assets | 21/28 | €32,898 | €23,441 | -€9,457 | -28.7% |
| Tangible fixed assets | 22/27 | €31,708 | €22,252 | -€9,457 | -29.8% |
| Land and buildings | 22 | €5,914 | €5,033 | -€882 | -14.9% |
| Plant, machinery and equipment | 23 | €15,487 | €11,363 | -€4,125 | -26.6% |
| Furniture and vehicles | 24 | €10,307 | €4,290 | -€6,016 | -58.4% |
| Other tangible fixed assets | 26 | - | €1,566 | +€1,566 | |
| Financial fixed assets | 28 | €1,190 | €1,190 | = | 0.0% |
| Current assets | 29/58 | €136,655 | €156,965 | +€20,310 | +14.9% |
| Amounts receivable within one year | 40/41 | €29,183 | €77,291 | +€48,108 | +164.8% |
| Trade receivables | 40 | €14,977 | €6,979 | -€7,998 | -53.4% |
| Other amounts receivable | 41 | €14,206 | €70,312 | +€56,106 | +394.9% |
| Current investments | 50/53 | - | €0 | = | |
| Cash at bank and in hand | 54/58 | €104,828 | €74,979 | -€29,849 | -28.5% |
| Deferred charges and accrued income | 490/1 | €2,645 | €4,696 | +€2,051 | +77.6% |
| Total equity and liabilities | 10/49 | €169,553 | €180,407 | +€10,853 | +6.4% |
| Equity | 10/15 | €114,523 | €68,767 | -€45,756 | -40.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €95,931 | €50,175 | -€45,756 | -47.7% |
| Tax-exempt reserves | 132 | €3,845 | €3,845 | = | 0.0% |
| Distributable reserves | 133 | €92,086 | €46,330 | -€45,756 | -49.7% |
| Amounts payable | 17/49 | €55,030 | €111,640 | +€56,609 | +102.9% |
| Amounts payable within one year | 42/48 | €55,030 | €111,640 | +€56,609 | +102.9% |
| Trade debts | 44 | €36,013 | €37,436 | +€1,422 | +3.9% |
| Suppliers | 440/4 | €36,013 | €37,436 | +€1,422 | +3.9% |
| Taxes, remuneration and social security | 45 | €17,428 | €17,439 | +€12 | +0.1% |
| Taxes | 450/3 | €5,857 | €5,772 | -€85 | -1.5% |
| Remuneration and social security | 454/9 | €11,571 | €11,668 | +€97 | +0.8% |
| Other amounts payable | 47/48 | €1,589 | €56,764 | +€55,175 | +3471.7% |
| Remuneration, social security and pensions | 62 | €128,585 | €127,389 | -€1,196 | -0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,931 | €11,097 | +€1,165 | +11.7% |
| Other operating charges | 640/8 | €1,176 | €1,465 | +€289 | +24.6% |
| Gross operating margin | 9900 | €189,775 | €156,543 | -€33,232 | -17.5% |
| Operating profit (loss) | 9901 | €50,083 | €16,592 | -€33,490 | -66.9% |
| Financial income | 75/76B | €1,070 | €1,768 | +€698 | +65.3% |
| Recurring financial income | 75 | €1,070 | €1,768 | +€698 | +65.3% |
| Financial charges | 65/66B | €6,920 | €4,616 | -€2,304 | -33.3% |
| Recurring financial charges | 65 | €6,920 | €4,616 | -€2,304 | -33.3% |
| Profit (loss) for the period before taxes | 9903 | €44,233 | €13,744 | -€30,489 | -68.9% |
| Income taxes | 67/77 | €12,238 | €4,500 | -€7,738 | -63.2% |
| Profit (loss) for the period | 9904 | €31,995 | €9,244 | -€22,751 | -71.1% |
| Profit (loss) for the period to be appropriated | 9905 | €31,995 | €9,244 | -€22,751 | -71.1% |
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 10 October 2026 via checked.be.