MARKENEERS: 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.
MARKENEERS
Largest movements
- Cash -€49,667
down €49,667 (-34.7%), from €143,161 to €93,494
mainly Contributions, distributions and other (-€227,402) and Deferred charges and accrued income (-€15,360)
- Current investments -€25,600
down €25,600 (-41.0%), from €62,438 to €36,838
- Deferred charges and accrued income +€15,360
up €15,360 (+1889.4%), from €813 to €16,172
- Receivables within one year +€14,871
up €14,871 (+83.3%), from €17,858 to €32,729
of which Trade receivables: +€14,641
- Tangible fixed assets -€5,347
down €5,347 (-21.7%), from €24,597 to €19,250
of which Furniture and vehicles: -€4,558
- Reserves -€142,884
down €142,884 (-96.9%), from €147,402 to €4,518
- Other debts +€83,815
up €83,815 (+123.1%), from €68,108 to €151,923
- Tax, wage and social debts +€6,557
up €6,557 (+49.9%), from €13,139 to €19,696
- Financial income +€5,883
up €5,883 (+922.3%), from €638 to €6,521
- Taxes +€5,049
up €5,049 (+20.3%), from €24,880 to €29,929
- Financial charges +€4,561
up €4,561 (+6197.5%), from €74 to €4,635
- Gross operating margin -€2,938
down €2,938 (-2.5%), from €119,746 to €116,808
- Depreciation -€2,138
down €2,138 (-39.6%), from €5,397 to €3,259
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 | €248,868 | €198,484 | -€50,384 | -20.2% |
| Fixed assets | 21/28 | €24,597 | €19,250 | -€5,347 | -21.7% |
| Tangible fixed assets | 22/27 | €24,597 | €19,250 | -€5,347 | -21.7% |
| Plant, machinery and equipment | 23 | - | €1,244 | +€1,244 | |
| Furniture and vehicles | 24 | €5,862 | €1,304 | -€4,558 | -77.8% |
| Other tangible fixed assets | 26 | €18,735 | €16,702 | -€2,033 | -10.9% |
| Current assets | 29/58 | €224,270 | €179,234 | -€45,036 | -20.1% |
| Amounts receivable within one year | 40/41 | €17,858 | €32,729 | +€14,871 | +83.3% |
| Trade receivables | 40 | €17,533 | €32,174 | +€14,641 | +83.5% |
| Other amounts receivable | 41 | €325 | €555 | +€230 | +70.8% |
| Current investments | 50/53 | €62,438 | €36,838 | -€25,600 | -41.0% |
| Cash at bank and in hand | 54/58 | €143,161 | €93,494 | -€49,667 | -34.7% |
| Deferred charges and accrued income | 490/1 | €813 | €16,172 | +€15,360 | +1889.4% |
| Total equity and liabilities | 10/49 | €248,868 | €198,484 | -€50,384 | -20.2% |
| Equity | 10/15 | €166,002 | €23,118 | -€142,884 | -86.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €147,402 | €4,518 | -€142,884 | -96.9% |
| Distributable reserves | 133 | €147,402 | €4,518 | -€142,884 | -96.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €82,866 | €175,366 | +€92,500 | +111.6% |
| Amounts payable within one year | 42/48 | €82,866 | €175,366 | +€92,500 | +111.6% |
| Current portion of amounts payable after more than one year | 42 | €557 | €394 | -€163 | -29.3% |
| Trade debts | 44 | €1,062 | €3,354 | +€2,292 | +215.9% |
| Suppliers | 440/4 | €1,062 | €3,354 | +€2,292 | +215.9% |
| Taxes, remuneration and social security | 45 | €13,139 | €19,696 | +€6,557 | +49.9% |
| Taxes | 450/3 | €13,139 | €19,696 | +€6,557 | +49.9% |
| Other amounts payable | 47/48 | €68,108 | €151,923 | +€83,815 | +123.1% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,397 | €3,259 | -€2,138 | -39.6% |
| Other operating charges | 640/8 | €963 | €988 | +€25 | +2.6% |
| Gross operating margin | 9900 | €119,746 | €116,808 | -€2,938 | -2.5% |
| Operating profit (loss) | 9901 | €113,386 | €112,561 | -€825 | -0.7% |
| Financial income | 75/76B | €638 | €6,521 | +€5,883 | +922.3% |
| Recurring financial income | 75 | €638 | €6,521 | +€5,883 | +922.3% |
| Financial charges | 65/66B | €74 | €4,635 | +€4,561 | +6197.5% |
| Recurring financial charges | 65 | €74 | €4,635 | +€4,561 | +6197.5% |
| Profit (loss) for the period before taxes | 9903 | €113,950 | €114,447 | +€497 | +0.4% |
| Income taxes | 67/77 | €24,880 | €29,929 | +€5,049 | +20.3% |
| Profit (loss) for the period | 9904 | €89,070 | €84,518 | -€4,552 | -5.1% |
| Profit (loss) for the period to be appropriated | 9905 | €89,070 | €84,518 | -€4,552 | -5.1% |
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 7 October 2026 via checked.be.