Marko Saric: 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.
Marko Saric
Largest movements
- Receivables after one year -€320,000
no longer reported in 2025 (was €320,000)
- Deferred charges and accrued income -€196,167
down €196,167 (-99.5%), from €197,153 to €986
- Receivables within one year +€110,365
up €110,365 (+22584.8%), from €489 to €110,854
of which Trade receivables: +€74,955
- Current investments +€42,823
up €42,823 (+8.5%), from €501,177 to €544,000
- Cash +€41,754
up €41,754 (+91.9%), from €45,415 to €87,169
mainly Other debts (+€607,738) and Receivables after one year (+€320,000)
- Reserves -€944,753
down €944,753 (-89.9%), from €1.1m to €106,360
- Other debts +€607,738
up €607,738 (+110628.7%), from €549 to €608,288
- Current portion of long-term debt +€31,538
new in 2025: €31,538
- Tax, wage and social debts -€15,502
no longer reported in 2025 (was €15,502)
of which Taxes: -€14,002
- Gross operating margin -€92,975
down €92,975 (-19.9%), from €467,750 to €374,775
- Taxes -€25,881
down €25,881 (-22.2%), from €116,767 to €90,885
- Financial income +€8,264
up €8,264 (+41.7%), from €19,807 to €28,071
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 | €1,071,543 | €750,737 | -€320,807 | -29.9% |
| Fixed assets | 21/28 | €7,310 | €7,728 | +€418 | +5.7% |
| Tangible fixed assets | 22/27 | €7,310 | €7,728 | +€418 | +5.7% |
| Furniture and vehicles | 24 | €5,842 | €6,436 | +€594 | +10.2% |
| Other tangible fixed assets | 26 | €1,468 | €1,292 | -€175 | -11.9% |
| Current assets | 29/58 | €1,064,234 | €743,009 | -€321,225 | -30.2% |
| Amounts receivable after more than one year | 29 | €320,000 | - | -€320,000 | |
| Other amounts receivable | 291 | €320,000 | - | -€320,000 | |
| Amounts receivable within one year | 40/41 | €489 | €110,854 | +€110,365 | +22584.8% |
| Trade receivables | 40 | - | €74,955 | +€74,955 | |
| Other amounts receivable | 41 | €489 | €35,899 | +€35,410 | +7246.2% |
| Current investments | 50/53 | €501,177 | €544,000 | +€42,823 | +8.5% |
| Cash at bank and in hand | 54/58 | €45,415 | €87,169 | +€41,754 | +91.9% |
| Deferred charges and accrued income | 490/1 | €197,153 | €986 | -€196,167 | -99.5% |
| Total equity and liabilities | 10/49 | €1,071,543 | €750,737 | -€320,807 | -29.9% |
| Equity | 10/15 | €1,054,112 | €109,360 | -€944,753 | -89.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €1,051,112 | €106,360 | -€944,753 | -89.9% |
| Distributable reserves | 133 | €1,051,112 | €106,360 | -€944,753 | -89.9% |
| Amounts payable | 17/49 | €17,431 | €641,377 | +€623,946 | +3579.5% |
| Amounts payable within one year | 42/48 | €17,431 | €641,377 | +€623,946 | +3579.5% |
| Current portion of amounts payable after more than one year | 42 | - | €31,538 | +€31,538 | |
| Trade debts | 44 | €1,379 | €1,551 | +€172 | +12.5% |
| Suppliers | 440/4 | €1,379 | €1,551 | +€172 | +12.5% |
| Taxes, remuneration and social security | 45 | €15,502 | - | -€15,502 | |
| Taxes | 450/3 | €14,002 | - | -€14,002 | |
| Remuneration and social security | 454/9 | €1,500 | - | -€1,500 | |
| Other amounts payable | 47/48 | €549 | €608,288 | +€607,738 | +110628.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,655 | €2,428 | -€227 | -8.6% |
| Other operating charges | 640/8 | €202 | - | -€202 | |
| Non-recurring operating charges | 66A | - | €895 | +€895 | |
| Gross operating margin | 9900 | €467,750 | €374,775 | -€92,975 | -19.9% |
| Operating profit (loss) | 9901 | €464,893 | €371,452 | -€93,441 | -20.1% |
| Financial income | 75/76B | €19,807 | €28,071 | +€8,264 | +41.7% |
| Recurring financial income | 75 | €19,807 | €28,071 | +€8,264 | +41.7% |
| Financial charges | 65/66B | €856 | €2,278 | +€1,422 | +166.1% |
| Recurring financial charges | 65 | €856 | €2,278 | +€1,422 | +166.1% |
| Profit (loss) for the period before taxes | 9903 | €483,844 | €397,245 | -€86,598 | -17.9% |
| Income taxes | 67/77 | €116,767 | €90,885 | -€25,881 | -22.2% |
| Profit (loss) for the period | 9904 | €367,077 | €306,360 | -€60,717 | -16.5% |
| Profit (loss) for the period to be appropriated | 9905 | €367,077 | €306,360 | -€60,717 | -16.5% |
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 5 October 2026 via checked.be.