ANDRE MARTIN: 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.
ANDRE MARTIN
Largest movements
- Tangible fixed assets -€10,432
down €10,432 (-30.5%), from €34,242 to €23,810
of which Furniture and vehicles: -€8,491
- Receivables within one year +€1,754
up €1,754 (+87.6%), from €2,004 to €3,758
- Stocks and contracts +€1,617
up €1,617 (+28.9%), from €5,588 to €7,205
- Cash +€1,049
up €1,049 (+2.2%), from €48,291 to €49,340
mainly Depreciation (+€10,432) and Accrued charges and deferred income (+€1,947)
- Other debts -€5,047
down €5,047 (-31.6%), from €15,980 to €10,933
- Profit (loss) carried forward -€2,555
down €2,555 (-6.5%), from -€39,321 to -€41,875
- Accrued charges and deferred income +€1,947
up €1,947 (+503%), from €387 to €2,335
- Trade debts -€1,557
down €1,557 (-19.7%), from €7,889 to €6,332
- Depreciation +€3,252
up €3,252 (+45.3%), from €7,180 to €10,432
- Gross operating margin +€591
up €591 (+5.2%), from €11,369 to €11,960
- Financial charges -€194
down €194 (-19.0%), from €1,021 to €827
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 | €90,852 | €84,456 | -€6,397 | -7.0% |
| Fixed assets | 21/28 | €34,242 | €23,810 | -€10,432 | -30.5% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €34,242 | €23,810 | -€10,432 | -30.5% |
| Land and buildings | 22 | €16,914 | €14,973 | -€1,941 | -11.5% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €17,328 | €8,837 | -€8,491 | -49.0% |
| Current assets | 29/58 | €56,611 | €60,646 | +€4,035 | +7.1% |
| Stocks and contracts in progress | 3 | €5,588 | €7,205 | +€1,617 | +28.9% |
| Stocks | 30/36 | €5,588 | €7,205 | +€1,617 | +28.9% |
| Amounts receivable within one year | 40/41 | €2,004 | €3,758 | +€1,754 | +87.6% |
| Trade receivables | 40 | €2,004 | €3,758 | +€1,754 | +87.6% |
| Current investments | 50/53 | €0 | €0 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €48,291 | €49,340 | +€1,049 | +2.2% |
| Deferred charges and accrued income | 490/1 | €728 | €343 | -€385 | -52.9% |
| Total equity and liabilities | 10/49 | €90,852 | €84,456 | -€6,397 | -7.0% |
| Equity | 10/15 | €63,465 | €60,910 | -€2,555 | -4.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €84,186 | €84,186 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,326 | €2,326 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,326 | €2,326 | = | 0.0% |
| Distributable reserves | 133 | €81,860 | €81,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€39,321 | -€41,875 | -€2,555 | -6.5% |
| Amounts payable | 17/49 | €27,387 | €23,545 | -€3,842 | -14.0% |
| Amounts payable within one year | 42/48 | €27,000 | €21,211 | -€5,789 | -21.4% |
| Trade debts | 44 | €7,889 | €6,332 | -€1,557 | -19.7% |
| Suppliers | 440/4 | €7,889 | €6,332 | -€1,557 | -19.7% |
| Taxes, remuneration and social security | 45 | €3,131 | €3,946 | +€815 | +26.0% |
| Taxes | 450/3 | €3,131 | €3,946 | +€815 | +26.0% |
| Other amounts payable | 47/48 | €15,980 | €10,933 | -€5,047 | -31.6% |
| Accrued charges and deferred income | 492/3 | €387 | €2,335 | +€1,947 | +503% |
| Turnover | 70 | - | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,180 | €10,432 | +€3,252 | +45.3% |
| Other operating charges | 640/8 | €2,808 | €2,899 | +€91 | +3.2% |
| Gross operating margin | 9900 | €11,369 | €11,960 | +€591 | +5.2% |
| Operating profit (loss) | 9901 | €1,381 | -€1,371 | -€2,752 | |
| Financial income | 75/76B | €181 | €167 | -€14 | -7.6% |
| Recurring financial income | 75 | €181 | €167 | -€14 | -7.6% |
| Financial charges | 65/66B | €1,021 | €827 | -€194 | -19.0% |
| Recurring financial charges | 65 | €1,021 | €827 | -€194 | -19.0% |
| Profit (loss) for the period before taxes | 9903 | €542 | -€2,030 | -€2,572 | |
| Income taxes | 67/77 | €527 | €524 | -€3 | -0.5% |
| Profit (loss) for the period | 9904 | €15 | -€2,555 | -€2,569 | |
| Profit (loss) for the period to be appropriated | 9905 | €15 | -€2,555 | -€2,569 |
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 15 October 2026 via checked.be.