MARKVALLEY: 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.
MARKVALLEY
Largest movements
- Cash -€37,264
down €37,264 (-59.0%), from €63,110 to €25,846
mainly Other debts (-€109,138) and Contributions, distributions and other (-€96,859)
- Tangible fixed assets -€31,387
down €31,387 (-4.0%), from €794,258 to €762,872
- Receivables within one year -€29,623
down €29,623 (-40.3%), from €73,465 to €43,841
of which Trade receivables: -€20,205
- Other debts -€109,138
down €109,138 (-36.7%), from €297,455 to €188,317
- Reserves +€22,557
up €22,557 (+5.8%), from €387,996 to €410,553
of which Distributable reserves: +€22,557
- Gross operating margin -€38,340
down €38,340 (-13.7%), from €278,932 to €240,592
- Financial charges -€7,771
down €7,771 (-33.1%), from €23,466 to €15,695
- Taxes -€5,582
down €5,582 (-9.1%), from €61,590 to €56,009
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €933,434 | €835,283 | -€98,151 | -10.5% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €794,258 | €762,872 | -€31,387 | -4.0% |
| Tangible fixed assets | 22/27 | €794,258 | €762,872 | -€31,387 | -4.0% |
| Land and buildings | 22 | €443,862 | €432,779 | -€11,083 | -2.5% |
| Plant, machinery and equipment | 23 | €2,079 | €1,497 | -€582 | -28.0% |
| Furniture and vehicles | 24 | €81,819 | €70,545 | -€11,274 | -13.8% |
| Leasing and similar rights | 25 | €266,498 | €258,051 | -€8,447 | -3.2% |
| Current assets | 29/58 | €139,175 | €72,411 | -€66,764 | -48.0% |
| Amounts receivable within one year | 40/41 | €73,465 | €43,841 | -€29,623 | -40.3% |
| Trade receivables | 40 | €62,555 | €42,350 | -€20,205 | -32.3% |
| Other amounts receivable | 41 | €10,910 | €1,491 | -€9,418 | -86.3% |
| Cash at bank and in hand | 54/58 | €63,110 | €25,846 | -€37,264 | -59.0% |
| Deferred charges and accrued income | 490/1 | €2,601 | €2,724 | +€123 | +4.7% |
| Total equity and liabilities | 10/49 | €933,434 | €835,283 | -€98,151 | -10.5% |
| Equity | 10/15 | €600,396 | €622,953 | +€22,557 | +3.8% |
| Contributions | 10/11 | €212,400 | €212,400 | = | 0.0% |
| Reserves | 13 | €387,996 | €410,553 | +€22,557 | +5.8% |
| Tax-exempt reserves | 132 | €9,357 | €9,357 | = | 0.0% |
| Distributable reserves | 133 | €378,639 | €401,196 | +€22,557 | +6.0% |
| Amounts payable | 17/49 | €333,038 | €212,330 | -€120,708 | -36.2% |
| Amounts payable within one year | 42/48 | €309,633 | €195,497 | -€114,136 | -36.9% |
| Trade debts | 44 | €2,893 | €497 | -€2,396 | -82.8% |
| Suppliers | 440/4 | €2,893 | €497 | -€2,396 | -82.8% |
| Taxes, remuneration and social security | 45 | €9,286 | €6,683 | -€2,602 | -28.0% |
| Taxes | 450/3 | €9,286 | €6,683 | -€2,602 | -28.0% |
| Other amounts payable | 47/48 | €297,455 | €188,317 | -€109,138 | -36.7% |
| Accrued charges and deferred income | 492/3 | €23,405 | €16,833 | -€6,572 | -28.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,867 | €46,137 | +€270 | +0.6% |
| Other operating charges | 640/8 | €2,964 | €3,336 | +€372 | +12.5% |
| Gross operating margin | 9900 | €278,932 | €240,592 | -€38,340 | -13.7% |
| Operating profit (loss) | 9901 | €230,101 | €191,120 | -€38,982 | -16.9% |
| Financial charges | 65/66B | €23,466 | €15,695 | -€7,771 | -33.1% |
| Recurring financial charges | 65 | €23,466 | €15,695 | -€7,771 | -33.1% |
| Profit (loss) for the period before taxes | 9903 | €206,635 | €175,425 | -€31,211 | -15.1% |
| Income taxes | 67/77 | €61,590 | €56,009 | -€5,582 | -9.1% |
| Profit (loss) for the period | 9904 | €145,045 | €119,416 | -€25,629 | -17.7% |
| Profit (loss) for the period to be appropriated | 9905 | €145,045 | €119,416 | -€25,629 | -17.7% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.