MARKARIAN LAW: 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.
MARKARIAN LAW
Largest movements
- Cash -€6,397
down €6,397 (-18.8%), from €33,940 to €27,543
mainly Receivables within one year (-€4,515) and Deferred charges and accrued income (-€1,100)
- Receivables within one year +€4,515
up €4,515 (+224%), from €2,012 to €6,527
of which Trade receivables: +€4,269
- Deferred charges and accrued income +€1,100
new in 2025: €1,100
- Profit (loss) carried forward -€888
down €888 (-6.6%), from €13,483 to €12,595
- Tax, wage and social debts +€543
up €543 (+10.5%), from €5,166 to €5,709
of which Taxes: +€543
- Gross operating margin -€18,132
down €18,132 (-92.6%), from €19,581 to €1,450
- Taxes -€3,317
down €3,317 (-98.4%), from €3,371 to €54
- Financial charges -€408
down €408 (-22.2%), from €1,836 to €1,428
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 | €35,952 | €35,170 | -€782 | -2.2% |
| Current assets | 29/58 | €35,952 | €35,170 | -€782 | -2.2% |
| Amounts receivable within one year | 40/41 | €2,012 | €6,527 | +€4,515 | +224% |
| Trade receivables | 40 | €2,012 | €6,281 | +€4,269 | +212% |
| Other amounts receivable | 41 | - | €246 | +€246 | |
| Cash at bank and in hand | 54/58 | €33,940 | €27,543 | -€6,397 | -18.8% |
| Deferred charges and accrued income | 490/1 | - | €1,100 | +€1,100 | |
| Total equity and liabilities | 10/49 | €35,952 | €35,170 | -€782 | -2.2% |
| Equity | 10/15 | €16,483 | €15,595 | -€888 | -5.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,483 | €12,595 | -€888 | -6.6% |
| Amounts payable | 17/49 | €19,469 | €19,575 | +€105 | +0.5% |
| Amounts payable within one year | 42/48 | €19,469 | €19,575 | +€105 | +0.5% |
| Trade debts | 44 | €3,476 | €3,236 | -€240 | -6.9% |
| Suppliers | 440/4 | €3,476 | €3,236 | -€240 | -6.9% |
| Taxes, remuneration and social security | 45 | €5,166 | €5,709 | +€543 | +10.5% |
| Taxes | 450/3 | €5,144 | €5,687 | +€543 | +10.6% |
| Remuneration and social security | 454/9 | €22 | €22 | = | 0.0% |
| Other amounts payable | 47/48 | €10,827 | €10,630 | -€198 | -1.8% |
| Other operating charges | 640/8 | €892 | €855 | -€37 | -4.1% |
| Gross operating margin | 9900 | €19,581 | €1,450 | -€18,132 | -92.6% |
| Operating profit (loss) | 9901 | €18,689 | €594 | -€18,095 | -96.8% |
| Financial charges | 65/66B | €1,836 | €1,428 | -€408 | -22.2% |
| Recurring financial charges | 65 | €1,836 | €1,428 | -€408 | -22.2% |
| Profit (loss) for the period before taxes | 9903 | €16,853 | -€834 | -€17,687 | |
| Income taxes | 67/77 | €3,371 | €54 | -€3,317 | -98.4% |
| Profit (loss) for the period | 9904 | €13,483 | -€888 | -€14,370 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,483 | -€888 | -€14,370 |
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 25 October 2026 via checked.be.