Marwan Connect: 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.
Marwan Connect
Largest movements
- Cash -€34,441
down €34,441 (-64.4%), from €53,461 to €19,020
mainly Tax, wage and social debts (-€24,604) and Receivables within one year (-€24,106)
- Receivables within one year +€24,106
up €24,106 (+25.0%), from €96,598 to €120,705
of which Other amounts receivable: +€43,337
- Tangible fixed assets -€7,408
down €7,408 (-24.3%), from €30,541 to €23,134
- Profit (loss) carried forward +€29,587
up €29,587 (+75.2%), from €39,348 to €68,935
- Tax, wage and social debts -€24,604
down €24,604 (-69.0%), from €35,633 to €11,030
of which Taxes: -€19,346
- Advances received -€21,526
down €21,526 (-100%), from €21,526 to €0
- Staff costs +€5,529
new in 2025: €5,529
- Gross operating margin -€4,785
down €4,785 (-8.7%), from €55,095 to €50,310
- Taxes -€2,399
down €2,399 (-18.3%), from €13,111 to €10,712
- Financial income +€1,698
up €1,698 (+57.4%), from €2,958 to €4,657
- Other operating charges -€1,582
down €1,582 (-94.8%), from €1,669 to €87
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 | €180,601 | €162,858 | -€17,743 | -9.8% |
| Fixed assets | 21/28 | €30,541 | €23,134 | -€7,408 | -24.3% |
| Tangible fixed assets | 22/27 | €30,541 | €23,134 | -€7,408 | -24.3% |
| Furniture and vehicles | 24 | €30,541 | €23,134 | -€7,408 | -24.3% |
| Current assets | 29/58 | €150,059 | €139,724 | -€10,335 | -6.9% |
| Amounts receivable within one year | 40/41 | €96,598 | €120,705 | +€24,106 | +25.0% |
| Trade receivables | 40 | €23,815 | €4,584 | -€19,231 | -80.8% |
| Other amounts receivable | 41 | €72,783 | €116,120 | +€43,337 | +59.5% |
| Cash at bank and in hand | 54/58 | €53,461 | €19,020 | -€34,441 | -64.4% |
| Total equity and liabilities | 10/49 | €180,601 | €162,858 | -€17,743 | -9.8% |
| Equity | 10/15 | €118,108 | €147,695 | +€29,587 | +25.1% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €77,760 | €77,760 | = | 0.0% |
| Distributable reserves | 133 | €77,760 | €77,760 | = | 0.0% |
| Profit (loss) carried forward | 14 | €39,348 | €68,935 | +€29,587 | +75.2% |
| Amounts payable | 17/49 | €62,493 | €15,164 | -€47,330 | -75.7% |
| Amounts payable within one year | 42/48 | €62,493 | €15,164 | -€47,330 | -75.7% |
| Trade debts | 44 | €5,333 | €4,134 | -€1,200 | -22.5% |
| Suppliers | 440/4 | €5,333 | €4,134 | -€1,200 | -22.5% |
| Advances received on contracts in progress | 46 | €21,526 | €0 | -€21,526 | -100% |
| Taxes, remuneration and social security | 45 | €35,633 | €11,030 | -€24,604 | -69.0% |
| Taxes | 450/3 | €30,133 | €10,787 | -€19,346 | -64.2% |
| Remuneration and social security | 454/9 | €5,500 | €242 | -€5,258 | -95.6% |
| Remuneration, social security and pensions | 62 | - | €5,529 | +€5,529 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,533 | €7,408 | +€875 | +13.4% |
| Other operating charges | 640/8 | €1,669 | €87 | -€1,582 | -94.8% |
| Gross operating margin | 9900 | €55,095 | €50,310 | -€4,785 | -8.7% |
| Operating profit (loss) | 9901 | €46,892 | €37,286 | -€9,606 | -20.5% |
| Financial income | 75/76B | €2,958 | €4,657 | +€1,698 | +57.4% |
| Recurring financial income | 75 | €2,958 | €4,657 | +€1,698 | +57.4% |
| Financial charges | 65/66B | €2,809 | €1,643 | -€1,165 | -41.5% |
| Recurring financial charges | 65 | €2,809 | €1,643 | -€1,165 | -41.5% |
| Profit (loss) for the period before taxes | 9903 | €47,042 | €40,300 | -€6,743 | -14.3% |
| Income taxes | 67/77 | €13,111 | €10,712 | -€2,399 | -18.3% |
| Profit (loss) for the period | 9904 | €33,931 | €29,587 | -€4,344 | -12.8% |
| Profit (loss) for the period to be appropriated | 9905 | €33,931 | €29,587 | -€4,344 | -12.8% |
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 20 October 2026 via checked.be.