MARKUS FORT: 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.
MARKUS FORT
Largest movements
- Tangible fixed assets +€206,927
up €206,927 (+1825.9%), from €11,333 to €218,259
of which Land and buildings: +€211,739
- Cash +€20,614
up €20,614 (+144.2%), from €14,300 to €34,913
mainly Debts after one year (+€172,736) and Other debts (+€117,760)
- Receivables within one year +€4,994
up €4,994 (+39.5%), from €12,656 to €17,650
- Debts after one year +€172,736
up €172,736 (+5646.2%), from €3,059 to €175,795
- Other debts +€117,760
new in 2025: €117,760
- Reserves -€59,975
down €59,975 (-60.1%), from €99,874 to €39,899
- Current portion of long-term debt +€5,643
up €5,643 (+155.8%), from €3,621 to €9,264
- Financial income +€13,192
up €13,192 (+1312.1%), from €1,005 to €14,198
- Gross operating margin +€12,327
up €12,327 (+20.5%), from €60,136 to €72,464
- Financial charges +€1,554
up €1,554 (+1351.2%), from €115 to €1,669
- Depreciation +€786
up €786 (+16.3%), from €4,812 to €5,598
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 | €129,713 | €365,506 | +€235,794 | +181.8% |
| Fixed assets | 21/28 | €11,333 | €218,259 | +€206,927 | +1825.9% |
| Tangible fixed assets | 22/27 | €11,333 | €218,259 | +€206,927 | +1825.9% |
| Land and buildings | 22 | - | €211,739 | +€211,739 | |
| Furniture and vehicles | 24 | €11,333 | €6,520 | -€4,812 | -42.5% |
| Current assets | 29/58 | €118,380 | €147,247 | +€28,867 | +24.4% |
| Amounts receivable within one year | 40/41 | €12,656 | €17,650 | +€4,994 | +39.5% |
| Other amounts receivable | 41 | €12,656 | €17,650 | +€4,994 | +39.5% |
| Current investments | 50/53 | €90,487 | €93,747 | +€3,260 | +3.6% |
| Cash at bank and in hand | 54/58 | €14,300 | €34,913 | +€20,614 | +144.2% |
| Deferred charges and accrued income | 490/1 | €937 | €937 | = | 0.0% |
| Total equity and liabilities | 10/49 | €129,713 | €365,506 | +€235,794 | +181.8% |
| Equity | 10/15 | €101,374 | €41,399 | -€59,975 | -59.2% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €99,874 | €39,899 | -€59,975 | -60.1% |
| Distributable reserves | 133 | €99,874 | €39,899 | -€59,975 | -60.1% |
| Amounts payable | 17/49 | €28,338 | €324,107 | +€295,769 | +1043.7% |
| Amounts payable after more than one year | 17 | €3,059 | €175,795 | +€172,736 | +5646.2% |
| Financial debts | 170/4 | €3,059 | €175,795 | +€172,736 | +5646.2% |
| Amounts payable within one year | 42/48 | €25,279 | €148,312 | +€123,033 | +486.7% |
| Current portion of amounts payable after more than one year | 42 | €3,621 | €9,264 | +€5,643 | +155.8% |
| Trade debts | 44 | €1,304 | €295 | -€1,009 | -77.4% |
| Suppliers | 440/4 | €1,304 | €295 | -€1,009 | -77.4% |
| Taxes, remuneration and social security | 45 | €20,354 | €20,993 | +€639 | +3.1% |
| Taxes | 450/3 | €20,354 | €20,993 | +€639 | +3.1% |
| Other amounts payable | 47/48 | - | €117,760 | +€117,760 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,812 | €5,598 | +€786 | +16.3% |
| Other operating charges | 640/8 | €747 | €479 | -€268 | -35.9% |
| Non-recurring operating charges | 66A | - | €8,772 | +€8,772 | |
| Gross operating margin | 9900 | €60,136 | €72,464 | +€12,327 | +20.5% |
| Operating profit (loss) | 9901 | €54,577 | €57,614 | +€3,037 | +5.6% |
| Financial income | 75/76B | €1,005 | €14,198 | +€13,192 | +1312.1% |
| Recurring financial income | 75 | €1,005 | €14,198 | +€13,192 | +1312.1% |
| Financial charges | 65/66B | €115 | €1,669 | +€1,554 | +1351.2% |
| Recurring financial charges | 65 | €115 | €1,669 | +€1,554 | +1351.2% |
| Profit (loss) for the period before taxes | 9903 | €55,467 | €70,143 | +€14,676 | +26.5% |
| Income taxes | 67/77 | €11,798 | €12,468 | +€670 | +5.7% |
| Profit (loss) for the period | 9904 | €43,669 | €57,675 | +€14,006 | +32.1% |
| Profit (loss) for the period to be appropriated | 9905 | €43,669 | €57,675 | +€14,006 | +32.1% |
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 5 October 2026 via checked.be.