MARKUS GLASS: 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.
MARKUS GLASS
Largest movements
- Cash -€47,021
down €47,021 (-25.1%), from €187,083 to €140,063
mainly Trade debts (-€49,938) and Tax, wage and social debts (-€12,488)
- Receivables within one year -€16,663
down €16,663 (-8.9%), from €186,330 to €169,667
of which Trade receivables: -€18,994
- Trade debts -€49,938
down €49,938 (-57.5%), from €86,901 to €36,962
- Tax, wage and social debts -€12,488
down €12,488 (-64.7%), from €19,309 to €6,821
of which Taxes: -€13,190
- Gross operating margin -€92,315
down €92,315 (-67.7%), from €136,316 to €44,000
- Other operating charges -€28,634
down €28,634 (-92.5%), from €30,947 to €2,314
- Taxes -€17,450
down €17,450 (-93.6%), from €18,653 to €1,203
- Financial income -€2,436
down €2,436 (-50.7%), from €4,808 to €2,372
- Depreciation -€2,014
down €2,014 (-28.1%), from €7,167 to €5,153
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 | €407,128 | €343,312 | -€63,816 | -15.7% |
| Fixed assets | 21/28 | €10,196 | €8,164 | -€2,031 | -19.9% |
| Tangible fixed assets | 22/27 | €10,008 | €7,977 | -€2,031 | -20.3% |
| Furniture and vehicles | 24 | €9,461 | €7,524 | -€1,937 | -20.5% |
| Other tangible fixed assets | 26 | €547 | €453 | -€94 | -17.2% |
| Financial fixed assets | 28 | €188 | €188 | = | 0.0% |
| Current assets | 29/58 | €396,932 | €335,147 | -€61,785 | -15.6% |
| Stocks and contracts in progress | 3 | €18,880 | €18,423 | -€458 | -2.4% |
| Stocks | 30/36 | €18,880 | €18,423 | -€458 | -2.4% |
| Amounts receivable within one year | 40/41 | €186,330 | €169,667 | -€16,663 | -8.9% |
| Trade receivables | 40 | €94,951 | €75,957 | -€18,994 | -20.0% |
| Other amounts receivable | 41 | €91,380 | €93,710 | +€2,331 | +2.6% |
| Cash at bank and in hand | 54/58 | €187,083 | €140,063 | -€47,021 | -25.1% |
| Deferred charges and accrued income | 490/1 | €4,639 | €6,995 | +€2,356 | +50.8% |
| Total equity and liabilities | 10/49 | €407,128 | €343,312 | -€63,816 | -15.7% |
| Equity | 10/15 | €297,733 | €295,881 | -€1,853 | -0.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,100 | €2,100 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,100 | €2,100 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,100 | €2,100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €277,033 | €275,181 | -€1,853 | -0.7% |
| Amounts payable | 17/49 | €109,395 | €47,431 | -€61,964 | -56.6% |
| Amounts payable within one year | 42/48 | €109,395 | €47,431 | -€61,964 | -56.6% |
| Trade debts | 44 | €86,901 | €36,962 | -€49,938 | -57.5% |
| Suppliers | 440/4 | €86,901 | €36,962 | -€49,938 | -57.5% |
| Taxes, remuneration and social security | 45 | €19,309 | €6,821 | -€12,488 | -64.7% |
| Taxes | 450/3 | €14,350 | €1,160 | -€13,190 | -91.9% |
| Remuneration and social security | 454/9 | €4,959 | €5,661 | +€702 | +14.2% |
| Other amounts payable | 47/48 | €3,185 | €3,648 | +€462 | +14.5% |
| Remuneration, social security and pensions | 62 | €38,403 | €38,560 | +€157 | +0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,167 | €5,153 | -€2,014 | -28.1% |
| Other operating charges | 640/8 | €30,947 | €2,314 | -€28,634 | -92.5% |
| Gross operating margin | 9900 | €136,316 | €44,000 | -€92,315 | -67.7% |
| Operating profit (loss) | 9901 | €59,798 | -€2,027 | -€61,826 | |
| Financial income | 75/76B | €4,808 | €2,372 | -€2,436 | -50.7% |
| Recurring financial income | 75 | €4,808 | €2,372 | -€2,436 | -50.7% |
| Financial charges | 65/66B | €762 | €994 | +€232 | +30.5% |
| Recurring financial charges | 65 | €762 | €994 | +€232 | +30.5% |
| Profit (loss) for the period before taxes | 9903 | €63,844 | -€650 | -€64,494 | |
| Income taxes | 67/77 | €18,653 | €1,203 | -€17,450 | -93.6% |
| Profit (loss) for the period | 9904 | €45,191 | -€1,853 | -€47,043 | |
| Profit (loss) for the period to be appropriated | 9905 | €45,191 | -€1,853 | -€47,043 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.