MARKA: what changed
Two fiscal 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
- Tangible fixed assets -€23,373
down €23,373 (-44.3%), from €52,804 to €29,431
of which Furniture and vehicles: -€17,334
- Cash +€8,595
up €8,595 (+400.3%), from €2,147 to €10,742
mainly Depreciation (+€23,373) and Net result for the year (+€11,540)
- Receivables within one year +€3,358
up €3,358 (+3.0%), from €112,586 to €115,944
of which Trade receivables: +€3,158
- Debts after one year -€14,274
down €14,274 (-83.1%), from €17,177 to €2,903
- Reserves +€11,540
up €11,540 (+36.3%), from €31,760 to €43,300
- Short-term financial debts -€4,814
no longer reported in 2025 (was €4,814)
- Current portion of long-term debt -€2,134
down €2,134 (-13.0%), from €16,408 to €14,274
- Gross operating margin +€41,697
up €41,697, from -€4,139 to €37,558
- Financial charges +€4,247
up €4,247 (+218.8%), from €1,941 to €6,189
of which Non-recurring financial charges: +€5,000
- Taxes +€1,181
up €1,181 (+731.1%), from €161 to €1,342
- Other operating charges +€505
up €505 (+57.1%), from €884 to €1,390
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 | €196,259 | €184,287 | -€11,972 | -6.1% |
| Fixed assets | 21/28 | €52,804 | €29,431 | -€23,373 | -44.3% |
| Tangible fixed assets | 22/27 | €52,804 | €29,431 | -€23,373 | -44.3% |
| Furniture and vehicles | 24 | €39,949 | €22,614 | -€17,334 | -43.4% |
| Leasing and similar rights | 25 | €7,137 | €1,784 | -€5,353 | -75.0% |
| Other tangible fixed assets | 26 | €5,718 | €5,033 | -€686 | -12.0% |
| Current assets | 29/58 | €143,456 | €154,856 | +€11,401 | +7.9% |
| Stocks and contracts in progress | 3 | €25,000 | €25,000 | = | 0.0% |
| Stocks | 30/36 | €25,000 | €25,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €112,586 | €115,944 | +€3,358 | +3.0% |
| Trade receivables | 40 | €19,918 | €23,076 | +€3,158 | +15.9% |
| Other amounts receivable | 41 | €92,668 | €92,868 | +€200 | +0.2% |
| Cash at bank and in hand | 54/58 | €2,147 | €10,742 | +€8,595 | +400.3% |
| Deferred charges and accrued income | 490/1 | €3,723 | €3,171 | -€552 | -14.8% |
| Total equity and liabilities | 10/49 | €196,259 | €184,287 | -€11,972 | -6.1% |
| Equity | 10/15 | €153,906 | €165,447 | +€11,540 | +7.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €31,760 | €43,300 | +€11,540 | +36.3% |
| Distributable reserves | 133 | €31,760 | €43,300 | +€11,540 | +36.3% |
| Profit (loss) carried forward | 14 | €103,546 | €103,546 | = | 0.0% |
| Amounts payable | 17/49 | €42,353 | €18,841 | -€23,513 | -55.5% |
| Amounts payable after more than one year | 17 | €17,177 | €2,903 | -€14,274 | -83.1% |
| Financial debts | 170/4 | €17,177 | €2,903 | -€14,274 | -83.1% |
| Amounts payable within one year | 42/48 | €25,176 | €15,937 | -€9,239 | -36.7% |
| Current portion of amounts payable after more than one year | 42 | €16,408 | €14,274 | -€2,134 | -13.0% |
| Financial debts | 43 | €4,814 | - | -€4,814 | |
| Credit institutions | 430/8 | €4,814 | - | -€4,814 | |
| Trade debts | 44 | €2,755 | €1,664 | -€1,091 | -39.6% |
| Suppliers | 440/4 | €2,755 | €1,664 | -€1,091 | -39.6% |
| Taxes, remuneration and social security | 45 | €1,200 | - | -€1,200 | |
| Taxes | 450/3 | €1,200 | - | -€1,200 | |
| Remuneration, social security and pensions | 62 | €310 | €667 | +€357 | +115.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,004 | €23,373 | +€369 | +1.6% |
| Other operating charges | 640/8 | €884 | €1,390 | +€505 | +57.1% |
| Gross operating margin | 9900 | -€4,139 | €37,558 | +€41,697 | |
| Operating profit (loss) | 9901 | -€28,338 | €12,128 | +€40,466 | |
| Financial income | 75/76B | €6,971 | €6,943 | -€29 | -0.4% |
| Recurring financial income | 75 | €6,971 | €6,943 | -€29 | -0.4% |
| Financial charges | 65/66B | €1,941 | €6,189 | +€4,247 | +218.8% |
| Recurring financial charges | 65 | €1,941 | €1,189 | -€753 | -38.8% |
| Non-recurring financial charges | 66B | - | €5,000 | +€5,000 | |
| Profit (loss) for the period before taxes | 9903 | -€23,307 | €12,882 | +€36,190 | |
| Income taxes | 67/77 | €161 | €1,342 | +€1,181 | +731.1% |
| Profit (loss) for the period | 9904 | -€23,469 | €11,540 | +€35,009 | |
| Profit (loss) for the period to be appropriated | 9905 | -€23,469 | €11,540 | +€35,009 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.