Markand: 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.
Markand
Largest movements
- Cash -€2,749
down €2,749 (-23.0%), from €11,929 to €9,180
mainly Net result for the year (-€5,714)
- Tangible fixed assets -€2,443
down €2,443 (-25.8%), from €9,473 to €7,030
of which Furniture and vehicles: -€1,321
- Profit (loss) carried forward -€5,714
down €5,714 (-42.5%), from -€13,433 to -€19,148
- Other operating charges +€820
up €820 (+583%), from €141 to €960
- Gross operating margin -€416
down €416 (-23.5%), from -€1,770 to -€2,187
- Depreciation -€108
down €108 (-4.2%), from €2,551 to €2,443
- Financial charges -€30
down €30 (-19.4%), from €155 to €125
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 | €52,179 | €46,960 | -€5,219 | -10.0% |
| Fixed assets | 21/28 | €9,473 | €7,030 | -€2,443 | -25.8% |
| Tangible fixed assets | 22/27 | €9,473 | €7,030 | -€2,443 | -25.8% |
| Plant, machinery and equipment | 23 | €226 | €107 | -€119 | -52.5% |
| Furniture and vehicles | 24 | €3,073 | €1,753 | -€1,321 | -43.0% |
| Other tangible fixed assets | 26 | €6,174 | €5,170 | -€1,004 | -16.3% |
| Current assets | 29/58 | €42,706 | €39,930 | -€2,776 | -6.5% |
| Amounts receivable within one year | 40/41 | €26 | €0 | -€26 | -100% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €26 | €0 | -€26 | -100% |
| Current investments | 50/53 | €30,750 | €30,750 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €11,929 | €9,180 | -€2,749 | -23.0% |
| Total equity and liabilities | 10/49 | €52,179 | €46,960 | -€5,219 | -10.0% |
| Equity | 10/15 | €51,048 | €45,334 | -€5,714 | -11.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €61,481 | €61,481 | = | 0.0% |
| Distributable reserves | 133 | €61,481 | €61,481 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€13,433 | -€19,148 | -€5,714 | -42.5% |
| Amounts payable | 17/49 | €1,131 | €1,627 | +€496 | +43.8% |
| Amounts payable within one year | 42/48 | €1,131 | €1,627 | +€496 | +43.8% |
| Trade debts | 44 | - | €400 | +€400 | |
| Suppliers | 440/4 | - | €400 | +€400 | |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €1,131 | €1,227 | +€96 | +8.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,551 | €2,443 | -€108 | -4.2% |
| Other operating charges | 640/8 | €141 | €960 | +€820 | +583% |
| Gross operating margin | 9900 | -€1,770 | -€2,187 | -€416 | -23.5% |
| Operating profit (loss) | 9901 | -€4,462 | -€5,590 | -€1,128 | -25.3% |
| Financial charges | 65/66B | €155 | €125 | -€30 | -19.4% |
| Recurring financial charges | 65 | €155 | €125 | -€30 | -19.4% |
| Profit (loss) for the period before taxes | 9903 | -€4,617 | -€5,714 | -€1,098 | -23.8% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€4,617 | -€5,714 | -€1,098 | -23.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,617 | -€5,714 | -€1,098 | -23.8% |
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.