MARKA: 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.
MARKA
Largest movements
- Cash +€208,916
up €208,916 (+1712.0%), from €12,203 to €221,119
mainly Net result for the year (+€257,192) and Other debts (+€208,251)
- Tangible fixed assets +€32,682
up €32,682 (+6.5%), from €502,752 to €535,433
- Receivables within one year +€11,305
up €11,305, from €0 to €11,305
of which Other amounts receivable: +€10,605
- Profit (loss) carried forward +€257,192
up €257,192 (+56.9%), from -€451,924 to -€194,732
- Other debts +€208,251
up €208,251 (+180.4%), from €115,459 to €323,710
- Debts after one year -€200,000
down €200,000 (-100.0%), from €200,000 to €0
- Accrued charges and deferred income -€8,758
down €8,758 (-100.0%), from €8,758 to €0
- Gross operating margin +€270,790
up €270,790 (+2068.4%), from €13,091 to €283,882
- Depreciation -€15,652
down €15,652 (-53.8%), from €29,096 to €13,444
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.
Cash bridge derived
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 | €519,571 | €771,479 | +€251,908 | +48.5% |
| Fixed assets | 21/28 | €502,836 | €535,433 | +€32,597 | +6.5% |
| Tangible fixed assets | 22/27 | €502,752 | €535,433 | +€32,682 | +6.5% |
| Land and buildings | 22 | €502,752 | €535,433 | +€32,682 | +6.5% |
| Financial fixed assets | 28 | €84 | €0 | -€84 | -100.0% |
| Current assets | 29/58 | €16,735 | €236,046 | +€219,311 | +1310.5% |
| Amounts receivable within one year | 40/41 | €0 | €11,305 | +€11,305 | |
| Trade receivables | 40 | €0 | €700 | +€700 | |
| Other amounts receivable | 41 | €0 | €10,605 | +€10,605 | |
| Cash at bank and in hand | 54/58 | €12,203 | €221,119 | +€208,916 | +1712.0% |
| Deferred charges and accrued income | 490/1 | €4,532 | €3,623 | -€909 | -20.1% |
| Total equity and liabilities | 10/49 | €519,571 | €771,479 | +€251,908 | +48.5% |
| Equity | 10/15 | €183,761 | €440,953 | +€257,192 | +140.0% |
| Contributions | 10/11 | €610,191 | €610,191 | = | 0.0% |
| Capital | 10 | €610,191 | €610,191 | = | 0.0% |
| Issued capital | 100 | €610,191 | €610,191 | = | 0.0% |
| Reserves | 13 | €25,494 | €25,494 | = | 0.0% |
| Non-distributable reserves | 130/1 | €20,517 | €20,517 | = | 0.0% |
| Legal reserve | 130 | €20,517 | €20,517 | = | 0.0% |
| Distributable reserves | 133 | €4,977 | €4,977 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€451,924 | -€194,732 | +€257,192 | +56.9% |
| Amounts payable | 17/49 | €335,810 | €330,526 | -€5,284 | -1.6% |
| Amounts payable after more than one year | 17 | €200,000 | €0 | -€200,000 | -100.0% |
| Financial debts | 170/4 | €200,000 | €0 | -€200,000 | -100.0% |
| Amounts payable within one year | 42/48 | €127,052 | €330,526 | +€203,474 | +160.2% |
| Trade debts | 44 | €11,593 | €6,816 | -€4,777 | -41.2% |
| Suppliers | 440/4 | €11,593 | €6,816 | -€4,777 | -41.2% |
| Other amounts payable | 47/48 | €115,459 | €323,710 | +€208,251 | +180.4% |
| Accrued charges and deferred income | 492/3 | €8,758 | €0 | -€8,758 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,096 | €13,444 | -€15,652 | -53.8% |
| Other operating charges | 640/8 | €5,456 | €6,406 | +€950 | +17.4% |
| Gross operating margin | 9900 | €13,091 | €283,882 | +€270,790 | +2068.4% |
| Operating profit (loss) | 9901 | -€21,461 | €264,031 | +€285,492 | |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €9,020 | €6,839 | -€2,181 | -24.2% |
| Recurring financial charges | 65 | €9,020 | €6,839 | -€2,181 | -24.2% |
| Profit (loss) for the period before taxes | 9903 | -€30,481 | €257,192 | +€287,673 | |
| Profit (loss) for the period | 9904 | -€30,481 | €257,192 | +€287,673 | |
| Profit (loss) for the period to be appropriated | 9905 | -€30,481 | €257,192 | +€287,673 |
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 12 October 2026 via checked.be.