MARKER: 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.
What changed
MARKER
NACE 73.110, Advertising agencies
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€105,684
2024 · €195,962-€90,278
Equity
€1.4m
2024 · €1.4m-€5,316
Cash
€88,392
2024 · €86,795+€1,598
Balance sheet total
€5.4m
2024 · €5.8m-€333,728
Largest movements
Assets
- Tangible fixed assets -€242,308
down €242,308 (-5.7%), from €4.3m to €4.0m
of which Land and buildings: -€173,125
Equity and liabilities
- Debts after one year -€314,344
down €314,344 (-10.7%), from €2.9m to €2.6m
of which Financial debts: -€314,344
- Short-term financial debts +€160,074
up €160,074, from €0 to €160,074
of which Other loans: +€107,075
- Current portion of long-term debt -€84,989
down €84,989 (-20.6%), from €412,463 to €327,474
- Tax, wage and social debts -€60,331
down €60,331 (-12.6%), from €480,254 to €419,923
of which Taxes: -€64,955
Income statement
- Staff costs +€171,241
up €171,241 (+13.6%), from €1.3m to €1.4m
- Depreciation -€110,674
down €110,674 (-29.3%), from €377,964 to €267,290
- Gross operating margin -€77,954
down €77,954 (-3.8%), from €2.0m to €2.0m
- Taxes -€45,984
down €45,984 (-53.5%), from €85,984 to €40,000
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.
Result 2024
€195,962
Gross operating margin
-€77,954
Staff costs
-€171,241
Depreciation
+€110,674
Write-downs
-€7,257
Other operating charges
-€2,153
Financial income
-€745
Financial charges
+€12,416
Taxes
+€45,984
Result 2025
€105,684
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.
From operations
+€349,709
Investment
+€2,147
Financing
-€350,258
Cash 2024
€86,795
From operations (derived)
+€349,709
Net result for the year
+€105,684
Depreciation
+€267,290
Stocks and contracts
-€12,214
Receivables within one year
+€47,145
Deferred charges and accrued income
+€30,959
Trade debts
-€28,823
Tax, wage and social debts
-€60,331
Investment (derived)
+€2,147
Investment in fixed assets (net)
+€2,149
Current investments
-€3
Financing
-€350,258
Debts after one year
-€314,344
Current portion of long-term debt
-€84,989
Short-term financial debts
+€160,074
Contributions, distributions and other
-€111,000
Cash 2025
€88,392
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,778,904 | €5,445,176 | -€333,728 | -5.8% |
| Fixed assets | 21/28 | €4,495,004 | €4,225,564 | -€269,439 | -6.0% |
| Intangible fixed assets | 21 | €198,210 | €173,434 | -€24,776 | -12.5% |
| Tangible fixed assets | 22/27 | €4,283,164 | €4,040,856 | -€242,308 | -5.7% |
| Land and buildings | 22 | €4,117,731 | €3,944,606 | -€173,125 | -4.2% |
| Plant, machinery and equipment | 23 | €72,771 | €54,346 | -€18,425 | -25.3% |
| Furniture and vehicles | 24 | €57,340 | €33,422 | -€23,919 | -41.7% |
| Leasing and similar rights | 25 | €35,322 | €8,482 | -€26,840 | -76.0% |
| Financial fixed assets | 28 | €13,630 | €11,275 | -€2,355 | -17.3% |
| Current assets | 29/58 | €1,283,900 | €1,219,611 | -€64,289 | -5.0% |
| Stocks and contracts in progress | 3 | €165,946 | €178,160 | +€12,214 | +7.4% |
| Stocks | 30/36 | €165,946 | €178,160 | +€12,214 | +7.4% |
| Amounts receivable within one year | 40/41 | €994,502 | €947,358 | -€47,145 | -4.7% |
| Trade receivables | 40 | €954,484 | €909,520 | -€44,964 | -4.7% |
| Other amounts receivable | 41 | €40,019 | €37,838 | -€2,180 | -5.4% |
| Current investments | 50/53 | €118 | €120 | +€3 | +2.1% |
| Cash at bank and in hand | 54/58 | €86,795 | €88,392 | +€1,598 | +1.8% |
| Deferred charges and accrued income | 490/1 | €36,540 | €5,581 | -€30,959 | -84.7% |
| Total equity and liabilities | 10/49 | €5,778,904 | €5,445,176 | -€333,728 | -5.8% |
| Equity | 10/15 | €1,361,956 | €1,356,639 | -€5,316 | -0.4% |
| Contributions | 10/11 | €52,000 | €52,000 | = | 0.0% |
| Reserves | 13 | €1,309,637 | €1,299,517 | -€10,120 | -0.8% |
| Distributable reserves | 133 | €1,309,637 | €1,299,517 | -€10,120 | -0.8% |
| Profit (loss) carried forward | 14 | €319 | €5,122 | +€4,804 | +1507.5% |
| Amounts payable | 17/49 | €4,416,949 | €4,088,536 | -€328,412 | -7.4% |
| Amounts payable after more than one year | 17 | €2,942,934 | €2,628,591 | -€314,344 | -10.7% |
| Financial debts | 170/4 | €2,942,934 | €2,628,591 | -€314,344 | -10.7% |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €1,442,820 | €1,428,751 | -€14,068 | -1.0% |
| Current portion of amounts payable after more than one year | 42 | €412,463 | €327,474 | -€84,989 | -20.6% |
| Financial debts | 43 | €0 | €160,074 | +€160,074 | |
| Credit institutions | 430/8 | - | €52,999 | +€52,999 | |
| Other loans | 439 | €0 | €107,075 | +€107,075 | |
| Trade debts | 44 | €499,679 | €470,856 | -€28,823 | -5.8% |
| Suppliers | 440/4 | €499,679 | €470,856 | -€28,823 | -5.8% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €480,254 | €419,923 | -€60,331 | -12.6% |
| Taxes | 450/3 | €289,023 | €224,068 | -€64,955 | -22.5% |
| Remuneration and social security | 454/9 | €191,232 | €195,855 | +€4,623 | +2.4% |
| Other amounts payable | 47/48 | €50,424 | €50,424 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €31,194 | €31,194 | = | 0.0% |
| Non-recurring operating income | 76A | €17,719 | €3,742 | -€13,977 | -78.9% |
| Remuneration, social security and pensions | 62 | €1,261,021 | €1,432,262 | +€171,241 | +13.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €377,964 | €267,290 | -€110,674 | -29.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €7,257 | +€7,257 | |
| Other operating charges | 640/8 | €21,540 | €23,693 | +€2,153 | +10.0% |
| Gross operating margin | 9900 | €2,039,036 | €1,961,081 | -€77,954 | -3.8% |
| Operating profit (loss) | 9901 | €378,510 | €230,578 | -€147,932 | -39.1% |
| Financial income | 75/76B | €990 | €245 | -€745 | -75.3% |
| Recurring financial income | 75 | €990 | €245 | -€745 | -75.3% |
| Financial charges | 65/66B | €97,555 | €85,139 | -€12,416 | -12.7% |
| Recurring financial charges | 65 | €97,515 | €85,139 | -€12,376 | -12.7% |
| Non-recurring financial charges | 66B | €40 | €0 | -€40 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | €281,945 | €145,684 | -€136,261 | -48.3% |
| Income taxes | 67/77 | €85,984 | €40,000 | -€45,984 | -53.5% |
| Profit (loss) for the period | 9904 | €195,962 | €105,684 | -€90,278 | -46.1% |
| Profit (loss) for the period to be appropriated | 9905 | €195,962 | €105,684 | -€90,278 | -46.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.