TER MARCKE: 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.
TER MARCKE
Largest movements
- Current investments -€100,000
no longer reported in 2025 (was €100,000)
- Cash +€77,062
up €77,062 (+964%), from €7,991 to €85,053
mainly Current investments (+€100,000) and Net result for the year (+€54,355)
- Receivables within one year -€19,005
down €19,005 (-66.8%), from €28,470 to €9,465
- Tangible fixed assets -€16,001
down €16,001 (-1.4%), from €1.2m to €1.1m
of which Land and buildings: -€14,419
- Debts after one year -€89,378
down €89,378 (-11.8%), from €755,232 to €665,854
of which Financial debts: -€92,378
- Reserves +€54,355
up €54,355 (+15.0%), from €362,628 to €416,983
of which Distributable reserves: +€54,355
- Other debts -€15,164
down €15,164 (-38.9%), from €39,005 to €23,841
- Write-downs +€9,205
new in 2025: €9,205
- Financial charges -€4,692
down €4,692 (-16.0%), from €29,315 to €24,623
- Taxes -€2,373
down €2,373 (-8.6%), from €27,739 to €25,366
- Gross operating margin -€2,239
down €2,239 (-1.4%), from €165,063 to €162,824
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 | €1,291,223 | €1,233,302 | -€57,921 | -4.5% |
| Fixed assets | 21/28 | €1,152,090 | €1,136,089 | -€16,001 | -1.4% |
| Tangible fixed assets | 22/27 | €1,152,090 | €1,136,089 | -€16,001 | -1.4% |
| Land and buildings | 22 | €1,148,926 | €1,134,507 | -€14,419 | -1.3% |
| Plant, machinery and equipment | 23 | €3,164 | €1,582 | -€1,582 | -50.0% |
| Current assets | 29/58 | €139,133 | €97,213 | -€41,920 | -30.1% |
| Amounts receivable within one year | 40/41 | €28,470 | €9,465 | -€19,005 | -66.8% |
| Trade receivables | 40 | €28,470 | €9,465 | -€19,005 | -66.8% |
| Current investments | 50/53 | €100,000 | - | -€100,000 | |
| Cash at bank and in hand | 54/58 | €7,991 | €85,053 | +€77,062 | +964% |
| Deferred charges and accrued income | 490/1 | €2,672 | €2,695 | +€23 | +0.9% |
| Total equity and liabilities | 10/49 | €1,291,223 | €1,233,302 | -€57,921 | -4.5% |
| Equity | 10/15 | €381,228 | €435,583 | +€54,355 | +14.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €362,628 | €416,983 | +€54,355 | +15.0% |
| Non-distributable reserves | 130/1 | €3,000 | €3,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,000 | €3,000 | = | 0.0% |
| Distributable reserves | 133 | €359,628 | €413,983 | +€54,355 | +15.1% |
| Amounts payable | 17/49 | €909,995 | €797,719 | -€112,276 | -12.3% |
| Amounts payable after more than one year | 17 | €755,232 | €665,854 | -€89,378 | -11.8% |
| Financial debts | 170/4 | €743,021 | €650,643 | -€92,378 | -12.4% |
| Other amounts payable | 178/9 | €12,211 | €15,211 | +€3,000 | +24.6% |
| Amounts payable within one year | 42/48 | €154,763 | €131,865 | -€22,898 | -14.8% |
| Current portion of amounts payable after more than one year | 42 | €101,651 | €92,378 | -€9,273 | -9.1% |
| Trade debts | 44 | €248 | - | -€248 | |
| Suppliers | 440/4 | €248 | - | -€248 | |
| Taxes, remuneration and social security | 45 | €13,859 | €15,646 | +€1,787 | +12.9% |
| Taxes | 450/3 | €13,859 | €15,646 | +€1,787 | +12.9% |
| Other amounts payable | 47/48 | €39,005 | €23,841 | -€15,164 | -38.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,856 | €35,261 | -€595 | -1.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €9,205 | +€9,205 | |
| Other operating charges | 640/8 | €15,176 | €15,073 | -€103 | -0.7% |
| Gross operating margin | 9900 | €165,063 | €162,824 | -€2,239 | -1.4% |
| Operating profit (loss) | 9901 | €114,031 | €103,285 | -€10,746 | -9.4% |
| Financial income | 75/76B | €2,464 | €1,059 | -€1,405 | -57.0% |
| Recurring financial income | 75 | €2,464 | €1,059 | -€1,405 | -57.0% |
| Financial charges | 65/66B | €29,315 | €24,623 | -€4,692 | -16.0% |
| Recurring financial charges | 65 | €29,315 | €24,623 | -€4,692 | -16.0% |
| Profit (loss) for the period before taxes | 9903 | €87,180 | €79,721 | -€7,459 | -8.6% |
| Income taxes | 67/77 | €27,739 | €25,366 | -€2,373 | -8.6% |
| Profit (loss) for the period | 9904 | €59,441 | €54,355 | -€5,086 | -8.6% |
| Profit (loss) for the period to be appropriated | 9905 | €59,441 | €54,355 | -€5,086 | -8.6% |
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 16 October 2026 via checked.be.