MARCADO: 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.
MARCADO
Largest movements
- Receivables within one year +€19,023
up €19,023 (+153%), from €12,459 to €31,482
of which Other amounts receivable: +€17,445
- Cash +€8,369
up €8,369 (+32.4%), from €25,855 to €34,224
mainly Net result for the year (+€34,814) and Tax, wage and social debts (+€2,953)
- Stocks and contracts +€7,576
new in 2025: €7,576
- Tangible fixed assets +€2,515
up €2,515 (+34.8%), from €7,222 to €9,737
of which Plant, machinery and equipment: +€3,358
- Reserves +€34,814
up €34,814 (+140%), from €24,864 to €59,677
- Tax, wage and social debts +€2,953
up €2,953 (+18.7%), from €15,807 to €18,760
- Gross operating margin +€17,333
up €17,333 (+51.5%), from €33,639 to €50,972
- Other operating charges +€2,298
up €2,298 (+466%), from €493 to €2,791
- Taxes +€1,943
up €1,943 (+26.2%), from €7,431 to €9,374
- Depreciation +€1,794
up €1,794 (+421%), from €426 to €2,220
- Financial charges +€1,409
up €1,409 (+305%), from €461 to €1,871
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 | €45,784 | €83,593 | +€37,809 | +82.6% |
| Fixed assets | 21/28 | €7,222 | €9,737 | +€2,515 | +34.8% |
| Tangible fixed assets | 22/27 | €7,222 | €9,737 | +€2,515 | +34.8% |
| Plant, machinery and equipment | 23 | €4,551 | €7,909 | +€3,358 | +73.8% |
| Furniture and vehicles | 24 | €2,671 | €1,828 | -€843 | -31.6% |
| Current assets | 29/58 | €38,562 | €73,857 | +€35,295 | +91.5% |
| Stocks and contracts in progress | 3 | - | €7,576 | +€7,576 | |
| Stocks | 30/36 | - | €7,576 | +€7,576 | |
| Amounts receivable within one year | 40/41 | €12,459 | €31,482 | +€19,023 | +153% |
| Trade receivables | 40 | €11,708 | €13,286 | +€1,578 | +13.5% |
| Other amounts receivable | 41 | €751 | €18,196 | +€17,445 | +2,324% |
| Cash at bank and in hand | 54/58 | €25,855 | €34,224 | +€8,369 | +32.4% |
| Deferred charges and accrued income | 490/1 | €249 | €575 | +€326 | +131% |
| Total equity and liabilities | 10/49 | €45,784 | €83,593 | +€37,809 | +82.6% |
| Equity | 10/15 | €27,864 | €62,677 | +€34,814 | +125% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €24,864 | €59,677 | +€34,814 | +140% |
| Distributable reserves | 133 | €24,864 | €59,677 | +€34,814 | +140% |
| Amounts payable | 17/49 | €17,920 | €20,916 | +€2,995 | +16.7% |
| Amounts payable within one year | 42/48 | €17,920 | €20,916 | +€2,995 | +16.7% |
| Trade debts | 44 | €2,113 | €2,155 | +€42 | +2.0% |
| Suppliers | 440/4 | €2,113 | €2,155 | +€42 | +2.0% |
| Taxes, remuneration and social security | 45 | €15,807 | €18,760 | +€2,953 | +18.7% |
| Taxes | 450/3 | €15,807 | €18,760 | +€2,953 | +18.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €426 | €2,220 | +€1,794 | +421% |
| Other operating charges | 640/8 | €493 | €2,791 | +€2,298 | +466% |
| Gross operating margin | 9900 | €33,639 | €50,972 | +€17,333 | +51.5% |
| Operating profit (loss) | 9901 | €32,719 | €45,961 | +€13,242 | +40.5% |
| Financial income | 75/76B | €37 | €98 | +€61 | +165% |
| Recurring financial income | 75 | €37 | €98 | +€61 | +165% |
| Financial charges | 65/66B | €461 | €1,871 | +€1,409 | +305% |
| Recurring financial charges | 65 | €461 | €1,871 | +€1,409 | +305% |
| Profit (loss) for the period before taxes | 9903 | €32,295 | €44,188 | +€11,893 | +36.8% |
| Income taxes | 67/77 | €7,431 | €9,374 | +€1,943 | +26.2% |
| Profit (loss) for the period | 9904 | €24,864 | €34,814 | +€9,950 | +40.0% |
| Profit (loss) for the period to be appropriated | 9905 | €24,864 | €34,814 | +€9,950 | +40.0% |
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 14 October 2026 via checked.be.