MARKAT: 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.
MARKAT
Largest movements
- Deferred charges and accrued income -€8,546
down €8,546 (-93.0%), from €9,186 to €640
- Cash -€4,059
down €4,059 (-29.2%), from €13,884 to €9,825
mainly Net result for the year (-€11,792) and Other debts (-€2,970)
- Receivables within one year +€2,329
new in 2025: €2,329
of which Trade receivables: +€2,286
- Tangible fixed assets +€535
up €535 (+8.3%), from €6,427 to €6,962
of which Plant, machinery and equipment: +€1,179
- Profit (loss) carried forward -€11,792
down €11,792 (-189.4%), from -€6,227 to -€18,018
- Tax, wage and social debts +€7,299
up €7,299 (+318.3%), from €2,294 to €9,593
of which Taxes: +€5,821
- Other debts -€2,970
down €2,970 (-37.9%), from €7,838 to €4,868
- Accrued charges and deferred income -€1,991
down €1,991 (-61.4%), from €3,241 to €1,250
- Gross operating margin -€22,828
down €22,828, from €15,643 to -€7,184
- Staff costs -€1,920
no longer reported in 2025 (was €1,920)
- Other operating charges -€773
down €773 (-23.7%), from €3,265 to €2,492
- Financial charges +€352
up €352 (+185.7%), from €190 to €542
- Financial income +€183
up €183 (+6986.3%), from €3 to €186
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 | €46,506 | €37,195 | -€9,310 | -20.0% |
| Fixed assets | 21/28 | €15,922 | €16,456 | +€535 | +3.4% |
| Tangible fixed assets | 22/27 | €6,427 | €6,962 | +€535 | +8.3% |
| Land and buildings | 22 | €3,816 | €3,171 | -€645 | -16.9% |
| Plant, machinery and equipment | 23 | €2,611 | €3,790 | +€1,179 | +45.2% |
| Financial fixed assets | 28 | €9,495 | €9,495 | = | 0.0% |
| Current assets | 29/58 | €30,584 | €20,739 | -€9,845 | -32.2% |
| Stocks and contracts in progress | 3 | €7,513 | €7,944 | +€431 | +5.7% |
| Stocks | 30/36 | €7,513 | €7,944 | +€431 | +5.7% |
| Amounts receivable within one year | 40/41 | - | €2,329 | +€2,329 | |
| Trade receivables | 40 | - | €2,286 | +€2,286 | |
| Other amounts receivable | 41 | - | €43 | +€43 | |
| Cash at bank and in hand | 54/58 | €13,884 | €9,825 | -€4,059 | -29.2% |
| Deferred charges and accrued income | 490/1 | €9,186 | €640 | -€8,546 | -93.0% |
| Total equity and liabilities | 10/49 | €46,506 | €37,195 | -€9,310 | -20.0% |
| Equity | 10/15 | €29,543 | €17,752 | -€11,792 | -39.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €17,170 | €17,170 | = | 0.0% |
| Non-distributable reserves | 130/1 | €480 | €480 | = | 0.0% |
| Reserves not available under the articles | 1311 | €480 | €480 | = | 0.0% |
| Distributable reserves | 133 | €16,690 | €16,690 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,227 | -€18,018 | -€11,792 | -189.4% |
| Amounts payable | 17/49 | €16,962 | €19,444 | +€2,481 | +14.6% |
| Amounts payable within one year | 42/48 | €13,722 | €18,194 | +€4,472 | +32.6% |
| Trade debts | 44 | €3,590 | €3,733 | +€142 | +4.0% |
| Suppliers | 440/4 | €3,590 | €3,733 | +€142 | +4.0% |
| Taxes, remuneration and social security | 45 | €2,294 | €9,593 | +€7,299 | +318.3% |
| Taxes | 450/3 | €815 | €6,636 | +€5,821 | +714.0% |
| Remuneration and social security | 454/9 | €1,478 | €2,956 | +€1,478 | +100.0% |
| Other amounts payable | 47/48 | €7,838 | €4,868 | -€2,970 | -37.9% |
| Accrued charges and deferred income | 492/3 | €3,241 | €1,250 | -€1,991 | -61.4% |
| Remuneration, social security and pensions | 62 | €1,920 | - | -€1,920 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,650 | €1,759 | +€109 | +6.6% |
| Other operating charges | 640/8 | €3,265 | €2,492 | -€773 | -23.7% |
| Gross operating margin | 9900 | €15,643 | -€7,184 | -€22,828 | |
| Operating profit (loss) | 9901 | €8,808 | -€11,436 | -€20,243 | |
| Financial income | 75/76B | €3 | €186 | +€183 | +6986.3% |
| Recurring financial income | 75 | €3 | €186 | +€183 | +6986.3% |
| Financial charges | 65/66B | €190 | €542 | +€352 | +185.7% |
| Recurring financial charges | 65 | €190 | €542 | +€352 | +185.7% |
| Profit (loss) for the period before taxes | 9903 | €8,621 | -€11,792 | -€20,412 | |
| Profit (loss) for the period | 9904 | €8,621 | -€11,792 | -€20,412 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,621 | -€11,792 | -€20,412 |
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.