MARK & SIGN: 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.
MARK & SIGN
Largest movements
- Cash -€152,539
down €152,539 (-88.4%), from €172,481 to €19,942
mainly Net result for the year (-€284,380) and Other debts (-€62,010)
- Receivables within one year -€118,953
down €118,953 (-51.2%), from €232,475 to €113,522
of which Trade receivables: -€168,629
- Tangible fixed assets -€103,751
down €103,751 (-6.5%), from €1.6m to €1.5m
of which Land and buildings: -€77,751
- Reserves -€284,380
down €284,380 (-38.7%), from €734,002 to €449,622
of which Distributable reserves: -€284,380
- Other debts -€62,010
down €62,010 (-7.6%), from €819,565 to €757,555
- Trade debts -€31,597
down €31,597 (-21.1%), from €149,572 to €117,975
- Write-downs +€561,565
new in 2025: €561,565
- Taxes -€54,477
down €54,477, from €53,523 to -€954
- Gross operating margin +€47,732
up €47,732 (+14.0%), from €342,161 to €389,893
- Financial charges -€13,905
down €13,905 (-60.9%), from €22,817 to €8,913
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 | €2,000,858 | €1,625,019 | -€375,839 | -18.8% |
| Fixed assets | 21/28 | €1,592,706 | €1,488,954 | -€103,751 | -6.5% |
| Tangible fixed assets | 22/27 | €1,592,706 | €1,488,954 | -€103,751 | -6.5% |
| Land and buildings | 22 | €1,285,136 | €1,207,384 | -€77,751 | -6.1% |
| Plant, machinery and equipment | 23 | €307,570 | €281,570 | -€26,000 | -8.5% |
| Current assets | 29/58 | €408,152 | €136,064 | -€272,088 | -66.7% |
| Amounts receivable within one year | 40/41 | €232,475 | €113,522 | -€118,953 | -51.2% |
| Trade receivables | 40 | €220,972 | €52,343 | -€168,629 | -76.3% |
| Other amounts receivable | 41 | €11,503 | €61,179 | +€49,676 | +432% |
| Cash at bank and in hand | 54/58 | €172,481 | €19,942 | -€152,539 | -88.4% |
| Deferred charges and accrued income | 490/1 | €3,196 | €2,600 | -€596 | -18.6% |
| Total equity and liabilities | 10/49 | €2,000,858 | €1,625,019 | -€375,839 | -18.8% |
| Equity | 10/15 | €919,002 | €634,622 | -€284,380 | -30.9% |
| Contributions | 10/11 | €185,000 | €185,000 | = | 0.0% |
| Capital | 10 | €185,000 | €185,000 | = | 0.0% |
| Issued capital | 100 | €185,000 | €185,000 | = | 0.0% |
| Reserves | 13 | €734,002 | €449,622 | -€284,380 | -38.7% |
| Non-distributable reserves | 130/1 | €18,500 | €18,500 | = | 0.0% |
| Legal reserve | 130 | €18,500 | €18,500 | = | 0.0% |
| Distributable reserves | 133 | €715,502 | €431,122 | -€284,380 | -39.7% |
| Amounts payable | 17/49 | €1,081,856 | €990,397 | -€91,459 | -8.5% |
| Amounts payable after more than one year | 17 | €84,719 | €86,866 | +€2,147 | +2.5% |
| Other amounts payable | 178/9 | €84,719 | €86,866 | +€2,147 | +2.5% |
| Amounts payable within one year | 42/48 | €969,137 | €875,530 | -€93,606 | -9.7% |
| Trade debts | 44 | €149,572 | €117,975 | -€31,597 | -21.1% |
| Suppliers | 440/4 | €149,572 | €117,975 | -€31,597 | -21.1% |
| Other amounts payable | 47/48 | €819,565 | €757,555 | -€62,010 | -7.6% |
| Accrued charges and deferred income | 492/3 | €28,001 | €28,001 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €101,268 | €103,751 | +€2,483 | +2.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €561,565 | +€561,565 | |
| Other operating charges | 640/8 | €968 | €998 | +€31 | +3.2% |
| Gross operating margin | 9900 | €342,161 | €389,893 | +€47,732 | +14.0% |
| Operating profit (loss) | 9901 | €239,926 | -€276,421 | -€516,347 | |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €22,817 | €8,913 | -€13,905 | -60.9% |
| Recurring financial charges | 65 | €22,817 | €8,913 | -€13,905 | -60.9% |
| Profit (loss) for the period before taxes | 9903 | €217,108 | -€285,334 | -€502,442 | |
| Income taxes | 67/77 | €53,523 | -€954 | -€54,477 | |
| Profit (loss) for the period | 9904 | €163,586 | -€284,380 | -€447,966 | |
| Profit (loss) for the period to be appropriated | 9905 | €163,586 | -€284,380 | -€447,966 |
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 17 October 2026 via checked.be.