MAKET: 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.
MAKET
Largest movements
- Cash +€27,648
up €27,648 (+73.2%), from €37,794 to €65,442
mainly Net result for the year (+€40,983) and Depreciation (+€4,858)
- Tangible fixed assets +€13,973
up €13,973 (+245%), from €5,712 to €19,685
of which Land and buildings: +€18,062
- Receivables within one year +€6,275
up €6,275 (+59.7%), from €10,512 to €16,787
of which Trade receivables: +€3,598
- Profit (loss) carried forward +€40,983
up €40,983 (+163%), from €25,093 to €66,076
- Trade debts +€4,819
up €4,819 (+370%), from €1,302 to €6,121
- Tax, wage and social debts +€2,627
up €2,627 (+40.3%), from €6,512 to €9,139
of which Remuneration and social security: +€2,136
- Gross operating margin +€30,031
up €30,031 (+104%), from €28,845 to €58,876
- Taxes +€6,080
up €6,080 (+128%), from €4,743 to €10,823
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 | €56,553 | €103,850 | +€47,297 | +83.6% |
| Fixed assets | 21/28 | €5,712 | €19,685 | +€13,973 | +245% |
| Tangible fixed assets | 22/27 | €5,712 | €19,685 | +€13,973 | +245% |
| Land and buildings | 22 | - | €18,062 | +€18,062 | |
| Furniture and vehicles | 24 | €2,996 | €1,622 | -€1,374 | -45.8% |
| Leasing and similar rights | 25 | €2,715 | - | -€2,715 | |
| Current assets | 29/58 | €50,842 | €84,165 | +€33,323 | +65.5% |
| Amounts receivable within one year | 40/41 | €10,512 | €16,787 | +€6,275 | +59.7% |
| Trade receivables | 40 | €9,255 | €12,853 | +€3,598 | +38.9% |
| Other amounts receivable | 41 | €1,257 | €3,934 | +€2,677 | +213% |
| Cash at bank and in hand | 54/58 | €37,794 | €65,442 | +€27,648 | +73.2% |
| Deferred charges and accrued income | 490/1 | €2,536 | €1,937 | -€599 | -23.6% |
| Total equity and liabilities | 10/49 | €56,553 | €103,850 | +€47,297 | +83.6% |
| Equity | 10/15 | €28,093 | €69,076 | +€40,983 | +146% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €25,093 | €66,076 | +€40,983 | +163% |
| Amounts payable | 17/49 | €28,460 | €34,774 | +€6,314 | +22.2% |
| Amounts payable after more than one year | 17 | €806 | - | -€806 | |
| Financial debts | 170/4 | €806 | - | -€806 | |
| Amounts payable within one year | 42/48 | €20,776 | €28,252 | +€7,476 | +36.0% |
| Current portion of amounts payable after more than one year | 42 | €1,164 | €806 | -€357 | -30.7% |
| Trade debts | 44 | €1,302 | €6,121 | +€4,819 | +370% |
| Suppliers | 440/4 | €1,302 | €6,121 | +€4,819 | +370% |
| Taxes, remuneration and social security | 45 | €6,512 | €9,139 | +€2,627 | +40.3% |
| Taxes | 450/3 | €6,512 | €7,003 | +€491 | +7.5% |
| Remuneration and social security | 454/9 | - | €2,136 | +€2,136 | |
| Other amounts payable | 47/48 | €11,798 | €12,185 | +€387 | +3.3% |
| Accrued charges and deferred income | 492/3 | €6,877 | €6,522 | -€356 | -5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,205 | €4,858 | -€347 | -6.7% |
| Other operating charges | 640/8 | €667 | €685 | +€18 | +2.7% |
| Gross operating margin | 9900 | €28,845 | €58,876 | +€30,031 | +104% |
| Operating profit (loss) | 9901 | €22,973 | €53,334 | +€30,361 | +132% |
| Financial income | 75/76B | €2 | - | -€2 | |
| Recurring financial income | 75 | €2 | - | -€2 | |
| Financial charges | 65/66B | €1,192 | €1,528 | +€336 | +28.2% |
| Recurring financial charges | 65 | €1,192 | €1,528 | +€336 | +28.2% |
| Profit (loss) for the period before taxes | 9903 | €21,783 | €51,806 | +€30,023 | +138% |
| Income taxes | 67/77 | €4,743 | €10,823 | +€6,080 | +128% |
| Profit (loss) for the period | 9904 | €17,040 | €40,983 | +€23,943 | +141% |
| Profit (loss) for the period to be appropriated | 9905 | €17,040 | €40,983 | +€23,943 | +141% |
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 15 October 2026 via checked.be.