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
- Current investments -€66,429
down €66,429 (-27.1%), from €244,904 to €178,474
- Cash -€30,714
down €30,714 (-65.1%), from €47,205 to €16,492
mainly Net result for the year (-€101,145) and Investment in fixed assets (net) (-€23,787)
- Intangible fixed assets +€16,516
up €16,516 (+183.8%), from €8,987 to €25,502
- Stocks and contracts +€14,781
up €14,781 (+419.1%), from €3,527 to €18,308
- Tangible fixed assets -€12,800
down €12,800 (-34.9%), from €36,657 to €23,856
of which Furniture and vehicles: -€8,935
- Profit (loss) carried forward -€101,145
down €101,145, from €0 to -€101,145
- Other debts +€56,656
up €56,656 (+416.6%), from €13,598 to €70,254
- Reserves -€14,992
down €14,992 (-3.4%), from €446,516 to €431,524
- Current portion of long-term debt -€9,830
down €9,830 (-100.0%), from €9,830 to €0
- Gross operating margin -€447,825
down €447,825, from €367,570 to -€80,255
- Taxes -€103,521
down €103,521 (-99.9%), from €103,676 to €155
- Financial income -€17,912
down €17,912 (-85.9%), from €20,862 to €2,949
- Depreciation -€16,063
down €16,063 (-44.5%), from €36,134 to €20,071
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 | €491,715 | €424,280 | -€67,435 | -13.7% |
| Fixed assets | 21/28 | €45,643 | €49,359 | +€3,715 | +8.1% |
| Intangible fixed assets | 21 | €8,987 | €25,502 | +€16,516 | +183.8% |
| Tangible fixed assets | 22/27 | €36,657 | €23,856 | -€12,800 | -34.9% |
| Land and buildings | 22 | €10,922 | €9,072 | -€1,850 | -16.9% |
| Plant, machinery and equipment | 23 | €16,800 | €14,785 | -€2,015 | -12.0% |
| Furniture and vehicles | 24 | €8,935 | €0 | -€8,935 | -100.0% |
| Current assets | 29/58 | €446,072 | €374,921 | -€71,150 | -16.0% |
| Stocks and contracts in progress | 3 | €3,527 | €18,308 | +€14,781 | +419.1% |
| Stocks | 30/36 | €3,527 | €18,308 | +€14,781 | +419.1% |
| Amounts receivable within one year | 40/41 | €149,189 | €160,172 | +€10,983 | +7.4% |
| Trade receivables | 40 | €22 | €13,758 | +€13,736 | +62350.4% |
| Other amounts receivable | 41 | €149,167 | €146,414 | -€2,753 | -1.8% |
| Current investments | 50/53 | €244,904 | €178,474 | -€66,429 | -27.1% |
| Cash at bank and in hand | 54/58 | €47,205 | €16,492 | -€30,714 | -65.1% |
| Deferred charges and accrued income | 490/1 | €1,247 | €1,476 | +€229 | +18.4% |
| Total equity and liabilities | 10/49 | €491,715 | €424,280 | -€67,435 | -13.7% |
| Equity | 10/15 | €458,916 | €342,780 | -€116,137 | -25.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €446,516 | €431,524 | -€14,992 | -3.4% |
| Distributable reserves | 133 | €446,516 | €431,524 | -€14,992 | -3.4% |
| Profit (loss) carried forward | 14 | €0 | -€101,145 | -€101,145 | |
| Amounts payable | 17/49 | €32,799 | €81,500 | +€48,702 | +148.5% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €31,660 | €79,115 | +€47,455 | +149.9% |
| Current portion of amounts payable after more than one year | 42 | €9,830 | €0 | -€9,830 | -100.0% |
| Trade debts | 44 | €5,274 | €5,367 | +€93 | +1.8% |
| Suppliers | 440/4 | €5,274 | €5,367 | +€93 | +1.8% |
| Taxes, remuneration and social security | 45 | €2,958 | €3,494 | +€536 | +18.1% |
| Taxes | 450/3 | €2,958 | €869 | -€2,089 | -70.6% |
| Remuneration and social security | 454/9 | - | €2,625 | +€2,625 | |
| Other amounts payable | 47/48 | €13,598 | €70,254 | +€56,656 | +416.6% |
| Accrued charges and deferred income | 492/3 | €1,138 | €2,385 | +€1,246 | +109.5% |
| Remuneration, social security and pensions | 62 | €130 | €0 | -€130 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,134 | €20,071 | -€16,063 | -44.5% |
| Other operating charges | 640/8 | €1,194 | €144 | -€1,050 | -87.9% |
| Gross operating margin | 9900 | €367,570 | -€80,255 | -€447,825 | |
| Operating profit (loss) | 9901 | €330,112 | -€100,470 | -€430,582 | |
| Financial income | 75/76B | €20,862 | €2,949 | -€17,912 | -85.9% |
| Recurring financial income | 75 | €20,862 | €2,949 | -€17,912 | -85.9% |
| Financial charges | 65/66B | €3,234 | €3,469 | +€235 | +7.3% |
| Recurring financial charges | 65 | €3,234 | €3,469 | +€235 | +7.3% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €347,739 | -€100,989 | -€448,729 | |
| Income taxes | 67/77 | €103,676 | €155 | -€103,521 | -99.9% |
| Profit (loss) for the period | 9904 | €244,063 | -€101,145 | -€345,207 | |
| Profit (loss) for the period to be appropriated | 9905 | €244,063 | -€101,145 | -€345,207 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.