MARKHOVE: 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.
MARKHOVE
Largest movements
- Cash -€4,893
down €4,893 (-19.6%), from €25,019 to €20,127
mainly Other debts (-€12,143) and Trade debts (-€0)
- Tangible fixed assets -€3,690
down €3,690 (-1.2%), from €304,494 to €300,804
of which Land and buildings: -€3,098
- Other debts -€12,143
down €12,143 (-5.2%), from €235,046 to €222,903
- Profit (loss) carried forward +€3,561
up €3,561 (+52.2%), from €6,819 to €10,380
- Financial charges +€1,679
up €1,679 (+34.8%), from €4,830 to €6,509
- Gross operating margin -€1,604
down €1,604 (-8.1%), from €19,851 to €18,248
- Depreciation +€230
up €230 (+6.7%), from €3,460 to €3,690
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 | €329,514 | €320,931 | -€8,582 | -2.6% |
| Fixed assets | 21/28 | €304,494 | €300,804 | -€3,690 | -1.2% |
| Tangible fixed assets | 22/27 | €304,494 | €300,804 | -€3,690 | -1.2% |
| Land and buildings | 22 | €301,898 | €298,800 | -€3,098 | -1.0% |
| Plant, machinery and equipment | 23 | €2,596 | €2,004 | -€591 | -22.8% |
| Current assets | 29/58 | €25,019 | €20,127 | -€4,893 | -19.6% |
| Cash at bank and in hand | 54/58 | €25,019 | €20,127 | -€4,893 | -19.6% |
| Total equity and liabilities | 10/49 | €329,514 | €320,931 | -€8,582 | -2.6% |
| Equity | 10/15 | €91,326 | €94,887 | +€3,561 | +3.9% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €23,007 | €23,007 | = | 0.0% |
| Non-distributable reserves | 130/1 | €23,007 | €23,007 | = | 0.0% |
| Legal reserve | 130 | €23,007 | €23,007 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,819 | €10,380 | +€3,561 | +52.2% |
| Amounts payable | 17/49 | €238,187 | €226,044 | -€12,143 | -5.1% |
| Amounts payable within one year | 42/48 | €237,587 | €225,444 | -€12,143 | -5.1% |
| Trade debts | 44 | €2,541 | €2,541 | -€0 | 0.0% |
| Suppliers | 440/4 | €2,541 | €2,541 | -€0 | 0.0% |
| Other amounts payable | 47/48 | €235,046 | €222,903 | -€12,143 | -5.2% |
| Accrued charges and deferred income | 492/3 | €600 | €600 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,460 | €3,690 | +€230 | +6.7% |
| Other operating charges | 640/8 | €4,299 | €4,495 | +€196 | +4.6% |
| Gross operating margin | 9900 | €19,851 | €18,248 | -€1,604 | -8.1% |
| Operating profit (loss) | 9901 | €12,093 | €10,063 | -€2,030 | -16.8% |
| Financial income | 75/76B | €3 | €7 | +€4 | +147.8% |
| Recurring financial income | 75 | €3 | €7 | +€4 | +147.8% |
| Financial charges | 65/66B | €4,830 | €6,509 | +€1,679 | +34.8% |
| Recurring financial charges | 65 | €4,830 | €6,509 | +€1,679 | +34.8% |
| Profit (loss) for the period before taxes | 9903 | €7,265 | €3,561 | -€3,704 | -51.0% |
| Profit (loss) for the period | 9904 | €7,265 | €3,561 | -€3,704 | -51.0% |
| Profit (loss) for the period to be appropriated | 9905 | €7,265 | €3,561 | -€3,704 | -51.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.