ANKARA MARKET: what changed
ANKARA MARKET
Largest movements
- Stocks and contracts +€82,230
up €82,230 (+237%), from €34,639 to €116,869
- Receivables within one year -€7,227
no longer reported in 2025 (was €7,227)
- Cash +€6,411
up €6,411 (+24.7%), from €25,998 to €32,409
mainly Trade debts (+€31,035) and Tax, wage and social debts (+€25,541)
- Tangible fixed assets -€2,893
down €2,893 (-51.2%), from €5,647 to €2,754
of which Furniture and vehicles: -€1,667
- Trade debts +€31,035
up €31,035 (+97.6%), from €31,813 to €62,848
- Tax, wage and social debts +€25,541
up €25,541 (+217%), from €11,797 to €37,338
of which Remuneration and social security: +€19,792
- Profit (loss) carried forward +€12,772
up €12,772 (+98.8%), from €12,927 to €25,700
- Other debts +€9,264
up €9,264 (+87.9%), from €10,538 to €19,802
- Gross operating margin +€57,431
up €57,431 (+163%), from €35,167 to €92,598
- Staff costs +€46,842
up €46,842 (+229%), from €20,413 to €67,255
- Taxes +€1,365
up €1,365 (+64.5%), from €2,115 to €3,480
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €73,575 | €152,187 | +€78,612 | +107% |
| Fixed assets | 21/28 | €5,647 | €2,754 | -€2,893 | -51.2% |
| Tangible fixed assets | 22/27 | €5,647 | €2,754 | -€2,893 | -51.2% |
| Plant, machinery and equipment | 23 | €819 | €135 | -€684 | -83.5% |
| Furniture and vehicles | 24 | €2,571 | €905 | -€1,667 | -64.8% |
| Other tangible fixed assets | 26 | €2,257 | €1,715 | -€542 | -24.0% |
| Current assets | 29/58 | €67,928 | €149,433 | +€81,505 | +120% |
| Stocks and contracts in progress | 3 | €34,639 | €116,869 | +€82,230 | +237% |
| Stocks | 30/36 | €34,639 | €116,869 | +€82,230 | +237% |
| Amounts receivable within one year | 40/41 | €7,227 | - | -€7,227 | |
| Other amounts receivable | 41 | €7,227 | - | -€7,227 | |
| Cash at bank and in hand | 54/58 | €25,998 | €32,409 | +€6,411 | +24.7% |
| Deferred charges and accrued income | 490/1 | €64 | €155 | +€91 | +143% |
| Total equity and liabilities | 10/49 | €73,575 | €152,187 | +€78,612 | +107% |
| Equity | 10/15 | €19,427 | €32,200 | +€12,772 | +65.7% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €4,000 | €4,000 | = | 0.0% |
| Distributable reserves | 133 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €12,927 | €25,700 | +€12,772 | +98.8% |
| Amounts payable | 17/49 | €54,148 | €119,988 | +€65,840 | +122% |
| Amounts payable within one year | 42/48 | €54,148 | €119,988 | +€65,840 | +122% |
| Trade debts | 44 | €31,813 | €62,848 | +€31,035 | +97.6% |
| Suppliers | 440/4 | €31,813 | €62,848 | +€31,035 | +97.6% |
| Taxes, remuneration and social security | 45 | €11,797 | €37,338 | +€25,541 | +217% |
| Taxes | 450/3 | €11,236 | €16,985 | +€5,749 | +51.2% |
| Remuneration and social security | 454/9 | €561 | €20,353 | +€19,792 | +3,530% |
| Other amounts payable | 47/48 | €10,538 | €19,802 | +€9,264 | +87.9% |
| Remuneration, social security and pensions | 62 | €20,413 | €67,255 | +€46,842 | +229% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,802 | €2,893 | +€91 | +3.3% |
| Other operating charges | 640/8 | €3,083 | €3,498 | +€415 | +13.5% |
| Gross operating margin | 9900 | €35,167 | €92,598 | +€57,431 | +163% |
| Operating profit (loss) | 9901 | €8,869 | €18,952 | +€10,083 | +114% |
| Financial income | 75/76B | - | €203 | +€203 | |
| Recurring financial income | 75 | - | €203 | +€203 | |
| Financial charges | 65/66B | €2,066 | €2,902 | +€836 | +40.5% |
| Recurring financial charges | 65 | €2,066 | €2,902 | +€836 | +40.5% |
| Profit (loss) for the period before taxes | 9903 | €6,803 | €16,252 | +€9,450 | +139% |
| Income taxes | 67/77 | €2,115 | €3,480 | +€1,365 | +64.5% |
| Profit (loss) for the period | 9904 | €4,687 | €12,772 | +€8,085 | +172% |
| Profit (loss) for the period to be appropriated | 9905 | €4,687 | €12,772 | +€8,085 | +172% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.