Marwilco: 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.
Marwilco
Largest movements
- Tangible fixed assets -€24,176
down €24,176 (-7.9%), from €305,528 to €281,352
of which Leasing and similar rights: -€22,063
- Receivables within one year +€14,095
up €14,095 (+13.8%), from €102,471 to €116,566
of which Other amounts receivable: +€16,405
- Cash +€7,885
up €7,885 (+22.1%), from €35,650 to €43,535
mainly Other debts (+€138,423) and Net result for the year (+€41,003)
- Other debts +€138,423
up €138,423, from €0 to €138,423
- Reserves -€121,848
down €121,848 (-100.0%), from €121,848 to €0
- Debts after one year -€40,830
down €40,830 (-16.5%), from €246,941 to €206,111
- Tax, wage and social debts +€28,882
up €28,882 (+38509.6%), from €75 to €28,957
of which Taxes: +€27,182
- Trade debts -€7,823
down €7,823 (-35.7%), from €21,901 to €14,079
- Gross operating margin +€52,372
up €52,372 (+151.0%), from €34,673 to €87,046
- Depreciation +€3,999
up €3,999 (+12.5%), from €32,002 to €36,002
- Financial charges -€3,314
down €3,314 (-22.9%), from €14,456 to €11,142
- Taxes +€1,553
new in 2025: €1,553
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 | €449,636 | €447,927 | -€1,709 | -0.4% |
| Fixed assets | 21/28 | €305,528 | €281,352 | -€24,176 | -7.9% |
| Tangible fixed assets | 22/27 | €305,528 | €281,352 | -€24,176 | -7.9% |
| Land and buildings | 22 | €187,317 | €180,702 | -€6,615 | -3.5% |
| Plant, machinery and equipment | 23 | €14,368 | €8,959 | -€5,409 | -37.6% |
| Furniture and vehicles | 24 | €2,299 | €12,209 | +€9,911 | +431.1% |
| Leasing and similar rights | 25 | €101,545 | €79,482 | -€22,063 | -21.7% |
| Current assets | 29/58 | €144,108 | €166,575 | +€22,467 | +15.6% |
| Amounts receivable within one year | 40/41 | €102,471 | €116,566 | +€14,095 | +13.8% |
| Trade receivables | 40 | €34,264 | €31,955 | -€2,310 | -6.7% |
| Other amounts receivable | 41 | €68,207 | €84,612 | +€16,405 | +24.1% |
| Cash at bank and in hand | 54/58 | €35,650 | €43,535 | +€7,885 | +22.1% |
| Deferred charges and accrued income | 490/1 | €5,987 | €6,474 | +€487 | +8.1% |
| Total equity and liabilities | 10/49 | €449,636 | €447,927 | -€1,709 | -0.4% |
| Equity | 10/15 | €140,448 | €18,600 | -€121,848 | -86.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €121,848 | €0 | -€121,848 | -100.0% |
| Distributable reserves | 133 | €121,848 | €0 | -€121,848 | -100.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €309,188 | €429,327 | +€120,139 | +38.9% |
| Amounts payable after more than one year | 17 | €246,941 | €206,111 | -€40,830 | -16.5% |
| Financial debts | 170/4 | €246,941 | €206,111 | -€40,830 | -16.5% |
| Amounts payable within one year | 42/48 | €61,860 | €222,289 | +€160,430 | +259.3% |
| Current portion of amounts payable after more than one year | 42 | €39,883 | €40,830 | +€947 | +2.4% |
| Trade debts | 44 | €21,901 | €14,079 | -€7,823 | -35.7% |
| Suppliers | 440/4 | €21,901 | €14,079 | -€7,823 | -35.7% |
| Taxes, remuneration and social security | 45 | €75 | €28,957 | +€28,882 | +38509.6% |
| Taxes | 450/3 | €75 | €27,257 | +€27,182 | +36242.9% |
| Remuneration and social security | 454/9 | - | €1,700 | +€1,700 | |
| Other amounts payable | 47/48 | €0 | €138,423 | +€138,423 | |
| Accrued charges and deferred income | 492/3 | €387 | €927 | +€540 | +139.4% |
| Non-recurring operating income | 76A | - | €18,000 | +€18,000 | |
| Remuneration, social security and pensions | 62 | €184 | €0 | -€184 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,002 | €36,002 | +€3,999 | +12.5% |
| Other operating charges | 640/8 | €939 | €1,420 | +€481 | +51.2% |
| Gross operating margin | 9900 | €34,673 | €87,046 | +€52,372 | +151.0% |
| Operating profit (loss) | 9901 | €1,548 | €49,624 | +€48,076 | +3105.7% |
| Financial income | 75/76B | €3,978 | €4,074 | +€96 | +2.4% |
| Recurring financial income | 75 | €3,978 | €4,074 | +€96 | +2.4% |
| Financial charges | 65/66B | €14,456 | €11,142 | -€3,314 | -22.9% |
| Recurring financial charges | 65 | €14,456 | €11,142 | -€3,314 | -22.9% |
| Profit (loss) for the period before taxes | 9903 | -€8,930 | €42,556 | +€51,486 | |
| Income taxes | 67/77 | - | €1,553 | +€1,553 | |
| Profit (loss) for the period | 9904 | -€8,930 | €41,003 | +€49,933 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,930 | €41,003 | +€49,933 |
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 5 October 2026 via checked.be.