MARVINCE & TEAM: 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 & TEAM
Largest movements
- Receivables within one year +€299,478
up €299,478 (+35.6%), from €841,433 to €1.1m
of which Trade receivables: +€270,929
- Cash +€34,103
up €34,103 (+15.2%), from €224,002 to €258,105
mainly Trade debts (+€152,513) and Accrued charges and deferred income (+€108,262)
- Trade debts +€152,513
up €152,513 (+13.9%), from €1.1m to €1.2m
- Accrued charges and deferred income +€108,262
new in 2025: €108,262
- Profit (loss) carried forward +€83,847
up €83,847 (+92.1%), from -€90,996 to -€7,149
- Taxes -€15,192
down €15,192, from €192 to -€15,000
- Gross operating margin +€13,637
up €13,637 (+23.1%), from €59,024 to €72,661
- Depreciation +€1,014
up €1,014 (+46.0%), from €2,203 to €3,216
- Financial income +€768
up €768 (+3,080%), from €25 to €793
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 | €1,074,846 | €1,411,228 | +€336,383 | +31.3% |
| Fixed assets | 21/28 | €9,410 | €11,639 | +€2,229 | +23.7% |
| Tangible fixed assets | 22/27 | €9,410 | €11,639 | +€2,229 | +23.7% |
| Furniture and vehicles | 24 | €9,410 | €11,639 | +€2,229 | +23.7% |
| Current assets | 29/58 | €1,065,436 | €1,399,590 | +€334,154 | +31.4% |
| Amounts receivable within one year | 40/41 | €841,433 | €1,140,912 | +€299,478 | +35.6% |
| Trade receivables | 40 | €826,258 | €1,097,187 | +€270,929 | +32.8% |
| Other amounts receivable | 41 | €15,175 | €43,724 | +€28,549 | +188% |
| Cash at bank and in hand | 54/58 | €224,002 | €258,105 | +€34,103 | +15.2% |
| Deferred charges and accrued income | 490/1 | - | €573 | +€573 | |
| Total equity and liabilities | 10/49 | €1,074,846 | €1,411,228 | +€336,383 | +31.3% |
| Equity | 10/15 | -€49,819 | €34,028 | +€83,847 | |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €36,177 | €36,177 | = | 0.0% |
| Distributable reserves | 133 | €36,177 | €36,177 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€90,996 | -€7,149 | +€83,847 | +92.1% |
| Amounts payable | 17/49 | €1,124,664 | €1,377,200 | +€252,536 | +22.5% |
| Amounts payable within one year | 42/48 | €1,124,664 | €1,268,938 | +€144,274 | +12.8% |
| Financial debts | 43 | €2,879 | €3,811 | +€932 | +32.4% |
| Credit institutions | 430/8 | €2,879 | €3,811 | +€932 | +32.4% |
| Trade debts | 44 | €1,094,419 | €1,246,933 | +€152,513 | +13.9% |
| Suppliers | 440/4 | €1,094,419 | €1,246,933 | +€152,513 | +13.9% |
| Taxes, remuneration and social security | 45 | €26,495 | €17,869 | -€8,626 | -32.6% |
| Taxes | 450/3 | €20,245 | €11,619 | -€8,626 | -42.6% |
| Remuneration and social security | 454/9 | €6,250 | €6,250 | = | 0.0% |
| Other amounts payable | 47/48 | €872 | €325 | -€547 | -62.7% |
| Accrued charges and deferred income | 492/3 | - | €108,262 | +€108,262 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,203 | €3,216 | +€1,014 | +46.0% |
| Other operating charges | 640/8 | €1,612 | €1,281 | -€330 | -20.5% |
| Gross operating margin | 9900 | €59,024 | €72,661 | +€13,637 | +23.1% |
| Operating profit (loss) | 9901 | €55,209 | €68,163 | +€12,954 | +23.5% |
| Financial income | 75/76B | €25 | €793 | +€768 | +3,080% |
| Recurring financial income | 75 | €25 | €793 | +€768 | +3,080% |
| Financial charges | 65/66B | €162 | €110 | -€53 | -32.5% |
| Recurring financial charges | 65 | €162 | €110 | -€53 | -32.5% |
| Profit (loss) for the period before taxes | 9903 | €55,072 | €68,847 | +€13,775 | +25.0% |
| Income taxes | 67/77 | €192 | -€15,000 | -€15,192 | |
| Profit (loss) for the period | 9904 | €54,880 | €83,847 | +€28,967 | +52.8% |
| Profit (loss) for the period to be appropriated | 9905 | €54,880 | €83,847 | +€28,967 | +52.8% |
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 1 November 2026 via checked.be.