MARKA
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 29-06-2026 at the NBB all 38 filings
Every figure per financial year
The operating result for 2025 is 12% higher than in 2024 and the highest since 2021. It is the third rise in a row, after the fall in 2022.
The turnover shown is an estimate from the gross margin.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Other operating charges640/8 | - | - | - | €5,684 | €5,785 | €953 | €524 | €607 | ▲ 16.0% |
| Gross operating margin9900 | €11,712 | €12,112 | €12,599 | €11,966 | €11,361 | €10,449 | €11,904 | €13,376 | ▲ 12.4% |
| Operating profit (loss)9901 | €6,523 | €6,778 | €6,955 | €6,283 | €5,577 | €9,497 | €11,381 | €12,768 | ▲ 12.2% |
| Financial income75/76B | - | - | - | €843 | €896 | €1,014 | €1,204 | €1,405 | ▲ 16.7% |
| Recurring financial income75 | €1,224 | €1,501 | €740 | €843 | €896 | €1,014 | €1,204 | €1,405 | ▲ 16.7% |
| Financial charges65/66B | - | - | - | €0 | - | - | - | €7 | - |
| Recurring financial charges65 | €15 | €20 | €3 | €0 | - | - | - | €7 | - |
| Profit (loss) for the period before taxes9903 | €7,732 | €8,259 | €7,692 | €7,126 | €6,472 | €10,511 | €12,585 | €14,166 | ▲ 12.6% |
| Income taxes67/77 | €2,305 | €2,549 | €2,035 | €1,897 | €1,533 | €2,628 | €3,189 | €3,556 | ▲ 11.5% |
| Profit (loss) for the period9904 | €5,427 | €5,710 | €5,657 | €5,229 | €4,939 | €7,883 | €9,395 | €10,611 | ▲ 12.9% |
| Profit (loss) for the period to be appropriated9905 | €5,427 | €5,710 | €5,657 | €5,229 | €4,939 | €7,883 | €9,395 | €10,611 | ▲ 12.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €78,961 | €84,968 | €92,411 | €94,965 | €97,857 | €106,952 | €116,324 | €126,954 | ▲ 9.1% |
| Fixed assets21/28 | €50,641 | €50,641 | €50,641 | €50,641 | €50,641 | €50,641 | €50,641 | €50,641 | = |
| Tangible fixed assets22/27 | €50,641 | €50,641 | €50,641 | €50,641 | €50,641 | €50,641 | €50,641 | €50,641 | = |
| Land and buildings22 | - | - | - | €50,641 | €50,641 | €50,641 | €50,641 | €50,641 | = |
| Current assets29/58 | €28,320 | €34,327 | €41,770 | €44,324 | €47,216 | €56,311 | €65,683 | €76,313 | ▲ 16.2% |
| Amounts receivable within one year40/41 | €28,302 | €34,279 | €41,725 | €44,280 | €47,171 | €56,266 | €65,639 | €76,268 | ▲ 16.2% |
| Other amounts receivable41 | - | - | - | €44,280 | €47,171 | €56,266 | €65,639 | €76,268 | ▲ 16.2% |
| Cash at bank and in hand54/58 | €18 | €48 | €45 | €45 | €45 | €45 | €45 | €45 | = |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €78,961 | €84,968 | €92,411 | €94,965 | €97,857 | €106,952 | €116,324 | €126,954 | ▲ 9.1% |
| Equity10/15 | €76,322 | €82,032 | €87,689 | €92,918 | €97,857 | €105,740 | €115,135 | €125,746 | ▲ 9.2% |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Capital10 | - | - | - | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Issued capital100 | - | - | - | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Reserves13 | €3,098 | €3,098 | €25,689 | €30,918 | €35,857 | €43,740 | €53,135 | €63,746 | ▲ 20.0% |
| Non-distributable reserves130/1 | - | - | - | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Legal reserve130 | - | - | - | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Distributable reserves133 | - | - | - | €24,718 | €29,657 | €37,540 | €46,935 | €57,546 | ▲ 22.6% |
| Profit (loss) carried forward14 | €11,223 | €16,934 | €0 | - | - | - | - | - | - |
| Amounts payable17/49 | €2,639 | €2,936 | €4,722 | €2,047 | €0 | €1,212 | €1,189 | €1,208 | ▲ 1.6% |
| Amounts payable within one year42/48 | €2,639 | €2,936 | €4,722 | €2,047 | €0 | €827 | €1,189 | €1,208 | ▲ 1.6% |
| Trade debts44 | - | €387 | €138 | €151 | €0 | €200 | €0 | €152 | - |
| Suppliers440/4 | - | - | - | €151 | €0 | €200 | €0 | €152 | - |
| Taxes, remuneration and social security45 | - | - | - | €1,897 | €0 | €628 | €1,189 | €1,056 | ▼ 11.2% |
| Taxes450/3 | - | - | - | €1,897 | €0 | €628 | €1,189 | €1,056 | ▼ 11.2% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | €384 | €0 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €5,427 | €5,710 | €5,657 | €5,229 | €4,939 | €7,883 | €9,395 | €10,611 | ▲ 12.9% |
| Operating cash flow (approximation) | €5,427 | €5,710 | €5,657 | €5,229 | €4,939 | €7,883 | €9,395 | €10,611 | ▲ 12.9% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €30 | -€3 | €0 | €0 | €0 | €0 | €0 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 31,368 companies had the same profile as MARKA has now. Two years later, 93.5% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of MARKA itself: 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 31,368 companies, not a prediction for MARKA. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 38 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 29-06-2026 | 2026-00210948 | |
| 31-12-2024 | abbreviated format | 14-08-2025 | 2025-00374862 | |
| 31-12-2023 | abbreviated format | 27-08-2024 | 2024-00373583 | |
| 31-12-2022 | abbreviated format | 27-07-2023 | 2023-00276604 | |
| 31-12-2021 | abbreviated format | 23-08-2022 | 2022-20304389 | |
| 31-12-2020 | abbreviated format | 17-06-2021 | 2021-21000073 | |
| 31-12-2019 | abbreviated format | 11-06-2020 | 2020-15600328 | |
| 31-12-2018 | abbreviated format | 11-07-2019 | 2019-31100170 | |
| 31-12-2017 | abbreviated format | 28-05-2018 | 2018-14000012 | |
| 31-12-2016 | abbreviated format | 26-06-2017 | 2017-20400475 |