the Markitects: 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.
the Markitects
Largest movements
- Cash -€29,491
down €29,491 (-85.3%), from €34,587 to €5,096
mainly Net result for the year (-€37,131) and Trade debts (-€3,568)
- Current investments -€8,233
down €8,233 (-5.9%), from €139,028 to €130,794
- Tangible fixed assets -€5,501
down €5,501 (-17.7%), from €31,071 to €25,571
of which Furniture and vehicles: -€6,717
- Receivables within one year -€2,976
down €2,976 (-24.3%), from €12,227 to €9,251
of which Other amounts receivable: -€2,092
- Profit (loss) carried forward -€37,131
down €37,131 (-65.7%), from -€56,517 to -€93,648
- Trade debts -€3,568
down €3,568 (-53.9%), from €6,619 to €3,051
- Tax, wage and social debts -€3,124
down €3,124 (-94.7%), from €3,300 to €176
- Accrued charges and deferred income -€2,794
no longer reported in 2025 (was €2,794)
- Gross operating margin +€26,175
up €26,175 (+48.4%), from -€54,061 to -€27,886
- Financial income -€1,290
down €1,290 (-98.5%), from €1,309 to €19
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 | €216,913 | €170,711 | -€46,201 | -21.3% |
| Fixed assets | 21/28 | €31,071 | €25,571 | -€5,501 | -17.7% |
| Tangible fixed assets | 22/27 | €31,071 | €25,571 | -€5,501 | -17.7% |
| Land and buildings | 22 | €8,631 | €9,847 | +€1,216 | +14.1% |
| Furniture and vehicles | 24 | €22,440 | €15,724 | -€6,717 | -29.9% |
| Current assets | 29/58 | €185,841 | €145,141 | -€40,701 | -21.9% |
| Amounts receivable within one year | 40/41 | €12,227 | €9,251 | -€2,976 | -24.3% |
| Trade receivables | 40 | €8,833 | €7,948 | -€885 | -10.0% |
| Other amounts receivable | 41 | €3,394 | €1,303 | -€2,092 | -61.6% |
| Current investments | 50/53 | €139,028 | €130,794 | -€8,233 | -5.9% |
| Cash at bank and in hand | 54/58 | €34,587 | €5,096 | -€29,491 | -85.3% |
| Total equity and liabilities | 10/49 | €216,913 | €170,711 | -€46,201 | -21.3% |
| Equity | 10/15 | €204,038 | €166,907 | -€37,131 | -18.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €254,355 | €254,355 | = | 0.0% |
| Distributable reserves | 133 | €254,355 | €254,355 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€56,517 | -€93,648 | -€37,131 | -65.7% |
| Amounts payable | 17/49 | €12,875 | €3,804 | -€9,070 | -70.5% |
| Amounts payable within one year | 42/48 | €10,081 | €3,804 | -€6,277 | -62.3% |
| Trade debts | 44 | €6,619 | €3,051 | -€3,568 | -53.9% |
| Suppliers | 440/4 | €6,619 | €3,051 | -€3,568 | -53.9% |
| Taxes, remuneration and social security | 45 | €3,300 | €176 | -€3,124 | -94.7% |
| Taxes | 450/3 | €3,300 | €176 | -€3,124 | -94.7% |
| Other amounts payable | 47/48 | €162 | €577 | +€415 | +255.7% |
| Accrued charges and deferred income | 492/3 | €2,794 | - | -€2,794 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,593 | €8,101 | +€507 | +6.7% |
| Other operating charges | 640/8 | €1,272 | €736 | -€536 | -42.1% |
| Gross operating margin | 9900 | -€54,061 | -€27,886 | +€26,175 | +48.4% |
| Operating profit (loss) | 9901 | -€62,926 | -€36,722 | +€26,204 | +41.6% |
| Financial income | 75/76B | €1,309 | €19 | -€1,290 | -98.5% |
| Recurring financial income | 75 | €1,309 | €19 | -€1,290 | -98.5% |
| Financial charges | 65/66B | €285 | €252 | -€33 | -11.6% |
| Recurring financial charges | 65 | €285 | €252 | -€33 | -11.6% |
| Profit (loss) for the period before taxes | 9903 | -€61,901 | -€36,955 | +€24,947 | +40.3% |
| Income taxes | 67/77 | €160 | €176 | +€16 | +10.1% |
| Profit (loss) for the period | 9904 | -€62,061 | -€37,131 | +€24,930 | +40.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€62,061 | -€37,131 | +€24,930 | +40.2% |
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 11 October 2026 via checked.be.