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 -€3,475
down €3,475 (-25.1%), from €13,829 to €10,355
mainly Other debts (-€6,894) and Investment in fixed assets (net) (-€2,628)
- Receivables within one year -€2,979
down €2,979 (-65.8%), from €4,530 to €1,551
of which Trade receivables: -€2,485
- Tangible fixed assets +€1,740
up €1,740 (+169%), from €1,030 to €2,770
- Stocks and contracts +€1,662
up €1,662 (+186%), from €896 to €2,558
- Other debts -€6,894
down €6,894 (-70.2%), from €9,819 to €2,925
- Reserves +€3,779
up €3,779 (+66.0%), from €5,723 to €9,503
- Accrued charges and deferred income +€600
new in 2025: €600
- Trade debts -€543
down €543 (-26.0%), from €2,093 to €1,550
- Gross operating margin +€29,950
up €29,950, from -€24,444 to €5,506
- Taxes +€378
new in 2025: €378
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 | €25,721 | €22,545 | -€3,177 | -12.3% |
| Fixed assets | 21/28 | €1,247 | €2,987 | +€1,740 | +140% |
| Tangible fixed assets | 22/27 | €1,030 | €2,770 | +€1,740 | +169% |
| Plant, machinery and equipment | 23 | €1,030 | €2,770 | +€1,740 | +169% |
| Financial fixed assets | 28 | €217 | €217 | = | 0.0% |
| Current assets | 29/58 | €24,474 | €19,558 | -€4,917 | -20.1% |
| Stocks and contracts in progress | 3 | €896 | €2,558 | +€1,662 | +186% |
| Stocks | 30/36 | €896 | €2,558 | +€1,662 | +186% |
| Amounts receivable within one year | 40/41 | €4,530 | €1,551 | -€2,979 | -65.8% |
| Trade receivables | 40 | €2,653 | €168 | -€2,485 | -93.7% |
| Other amounts receivable | 41 | €1,877 | €1,383 | -€494 | -26.3% |
| Current investments | 50/53 | €5,094 | €5,094 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €13,829 | €10,355 | -€3,475 | -25.1% |
| Deferred charges and accrued income | 490/1 | €125 | - | -€125 | |
| Total equity and liabilities | 10/49 | €25,721 | €22,545 | -€3,177 | -12.3% |
| Equity | 10/15 | €13,333 | €17,112 | +€3,779 | +28.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €5,723 | €9,503 | +€3,779 | +66.0% |
| Distributable reserves | 133 | €5,723 | €9,503 | +€3,779 | +66.0% |
| Profit (loss) carried forward | 14 | €1,409 | €1,409 | = | 0.0% |
| Amounts payable | 17/49 | €12,388 | €5,433 | -€6,956 | -56.1% |
| Amounts payable within one year | 42/48 | €12,388 | €4,833 | -€7,555 | -61.0% |
| Trade debts | 44 | €2,093 | €1,550 | -€543 | -26.0% |
| Suppliers | 440/4 | €2,093 | €1,550 | -€543 | -26.0% |
| Taxes, remuneration and social security | 45 | €476 | €358 | -€119 | -24.9% |
| Taxes | 450/3 | €476 | €358 | -€119 | -24.9% |
| Other amounts payable | 47/48 | €9,819 | €2,925 | -€6,894 | -70.2% |
| Accrued charges and deferred income | 492/3 | - | €600 | +€600 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €899 | €888 | -€11 | -1.2% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | -€24,444 | €5,506 | +€29,950 | |
| Operating profit (loss) | 9901 | -€25,730 | €4,218 | +€29,949 | |
| Financial income | 75/76B | €49 | €67 | +€18 | +35.8% |
| Recurring financial income | 75 | €49 | €67 | +€18 | +35.8% |
| Financial charges | 65/66B | €258 | €128 | -€130 | -50.3% |
| Recurring financial charges | 65 | €258 | €128 | -€130 | -50.3% |
| Profit (loss) for the period before taxes | 9903 | -€25,939 | €4,157 | +€30,097 | |
| Income taxes | 67/77 | - | €378 | +€378 | |
| Profit (loss) for the period | 9904 | -€25,939 | €3,779 | +€29,719 | |
| Profit (loss) for the period to be appropriated | 9905 | -€25,939 | €3,779 | +€29,719 |
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 27 October 2026 via checked.be.