MARKETMAKER: 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.
MARKETMAKER
Largest movements
- Receivables within one year -€37,093
down €37,093 (-4.4%), from €852,585 to €815,492
of which Trade receivables: -€38,666
- Other debts -€70,020
down €70,020 (-16.1%), from €435,802 to €365,782
- Trade debts +€23,596
up €23,596 (+27.9%), from €84,557 to €108,153
- Reserves +€19,030
up €19,030 (+11.6%), from €163,476 to €182,506
of which Distributable reserves: +€19,030
- Tax, wage and social debts -€12,326
down €12,326 (-24.9%), from €49,570 to €37,244
- Taxes +€6,017
up €6,017 (+49.7%), from €12,114 to €18,130
- Financial charges +€3,262
up €3,262 (+97.0%), from €3,364 to €6,626
- Other operating charges +€2,129
up €2,129 (+61.9%), from €3,438 to €5,567
- Financial income -€660
no longer reported in 2025 (was €660)
- Gross operating margin -€565
down €565 (-1.1%), from €50,331 to €49,766
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 | €853,804 | €815,979 | -€37,826 | -4.4% |
| Fixed assets | 21/28 | €866 | €453 | -€413 | -47.7% |
| Tangible fixed assets | 22/27 | €866 | €453 | -€413 | -47.7% |
| Furniture and vehicles | 24 | €866 | €453 | -€413 | -47.7% |
| Current assets | 29/58 | €852,939 | €815,526 | -€37,413 | -4.4% |
| Amounts receivable within one year | 40/41 | €852,585 | €815,492 | -€37,093 | -4.4% |
| Trade receivables | 40 | €851,193 | €812,527 | -€38,666 | -4.5% |
| Other amounts receivable | 41 | €1,392 | €2,965 | +€1,573 | +113% |
| Cash at bank and in hand | 54/58 | €263 | €34 | -€229 | -87.1% |
| Deferred charges and accrued income | 490/1 | €92 | - | -€92 | |
| Total equity and liabilities | 10/49 | €853,804 | €815,979 | -€37,826 | -4.4% |
| Equity | 10/15 | €211,576 | €230,606 | +€19,030 | +9.0% |
| Contributions | 10/11 | €48,100 | €48,100 | = | 0.0% |
| Reserves | 13 | €163,476 | €182,506 | +€19,030 | +11.6% |
| Tax-exempt reserves | 132 | €24,946 | €24,946 | = | 0.0% |
| Distributable reserves | 133 | €138,530 | €157,560 | +€19,030 | +13.7% |
| Amounts payable | 17/49 | €642,229 | €585,373 | -€56,856 | -8.9% |
| Amounts payable after more than one year | 17 | €70,000 | €70,000 | = | 0.0% |
| Financial debts | 170/4 | €70,000 | €70,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €572,170 | €515,373 | -€56,797 | -9.9% |
| Financial debts | 43 | €2,241 | €4,194 | +€1,953 | +87.2% |
| Credit institutions | 430/8 | €2,241 | €4,194 | +€1,953 | +87.2% |
| Trade debts | 44 | €84,557 | €108,153 | +€23,596 | +27.9% |
| Suppliers | 440/4 | €84,557 | €108,153 | +€23,596 | +27.9% |
| Taxes, remuneration and social security | 45 | €49,570 | €37,244 | -€12,326 | -24.9% |
| Taxes | 450/3 | €49,570 | €37,244 | -€12,326 | -24.9% |
| Other amounts payable | 47/48 | €435,802 | €365,782 | -€70,020 | -16.1% |
| Accrued charges and deferred income | 492/3 | €59 | - | -€59 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €213 | €213 | -€0 | 0.0% |
| Other operating charges | 640/8 | €3,438 | €5,567 | +€2,129 | +61.9% |
| Non-recurring operating charges | 66A | - | €200 | +€200 | |
| Gross operating margin | 9900 | €50,331 | €49,766 | -€565 | -1.1% |
| Operating profit (loss) | 9901 | €46,680 | €43,787 | -€2,894 | -6.2% |
| Financial income | 75/76B | €660 | - | -€660 | |
| Recurring financial income | 75 | €660 | - | -€660 | |
| Financial charges | 65/66B | €3,364 | €6,626 | +€3,262 | +97.0% |
| Recurring financial charges | 65 | €3,364 | €6,626 | +€3,262 | +97.0% |
| Profit (loss) for the period before taxes | 9903 | €43,976 | €37,161 | -€6,815 | -15.5% |
| Income taxes | 67/77 | €12,114 | €18,130 | +€6,017 | +49.7% |
| Profit (loss) for the period | 9904 | €31,862 | €19,030 | -€12,832 | -40.3% |
| Profit (loss) for the period to be appropriated | 9905 | €31,862 | €19,030 | -€12,832 | -40.3% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.