DR. AN MARTENS: 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.
DR. AN MARTENS
Largest movements
- Cash -€90,880
down €90,880 (-43.1%), from €210,810 to €119,930
mainly Contributions, distributions and other (-€211,806) and Investment in fixed assets (net) (-€49,998)
- Tangible fixed assets +€46,459
up €46,459 (+415%), from €11,202 to €57,661
of which Furniture and vehicles: +€45,581
- Receivables after one year -€18,171
down €18,171 (-85.4%), from €21,275 to €3,105
- Deferred charges and accrued income -€6,528
down €6,528 (-17.5%), from €37,327 to €30,799
- Tax, wage and social debts -€35,641
down €35,641 (-90.3%), from €39,481 to €3,840
- Other debts -€34,568
down €34,568 (-14.0%), from €246,374 to €211,806
- Gross operating margin -€111,085
down €111,085 (-28.3%), from €392,262 to €281,176
- Taxes -€28,239
down €28,239 (-30.7%), from €92,079 to €63,840
- Depreciation -€5,313
down €5,313 (-60.0%), from €8,852 to €3,539
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 | €288,535 | €219,416 | -€69,119 | -24.0% |
| Fixed assets | 21/28 | €11,202 | €57,661 | +€46,459 | +415% |
| Tangible fixed assets | 22/27 | €11,202 | €57,661 | +€46,459 | +415% |
| Plant, machinery and equipment | 23 | €1,004 | €1,883 | +€879 | +87.5% |
| Furniture and vehicles | 24 | €10,198 | €55,778 | +€45,581 | +447% |
| Current assets | 29/58 | €277,333 | €161,755 | -€115,578 | -41.7% |
| Amounts receivable after more than one year | 29 | €21,275 | €3,105 | -€18,171 | -85.4% |
| Other amounts receivable | 291 | €21,275 | €3,105 | -€18,171 | -85.4% |
| Amounts receivable within one year | 40/41 | €7,921 | €7,921 | = | 0.0% |
| Other amounts receivable | 41 | €7,921 | €7,921 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €210,810 | €119,930 | -€90,880 | -43.1% |
| Deferred charges and accrued income | 490/1 | €37,327 | €30,799 | -€6,528 | -17.5% |
| Total equity and liabilities | 10/49 | €288,535 | €219,416 | -€69,119 | -24.0% |
| Equity | 10/15 | €2,500 | €2,500 | = | 0.0% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €286,035 | €216,916 | -€69,119 | -24.2% |
| Amounts payable within one year | 42/48 | €286,035 | €216,916 | -€69,119 | -24.2% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €180 | €1,270 | +€1,090 | +607% |
| Suppliers | 440/4 | €180 | €1,270 | +€1,090 | +607% |
| Taxes, remuneration and social security | 45 | €39,481 | €3,840 | -€35,641 | -90.3% |
| Taxes | 450/3 | €39,481 | €3,840 | -€35,641 | -90.3% |
| Other amounts payable | 47/48 | €246,374 | €211,806 | -€34,568 | -14.0% |
| Non-recurring operating income | 76A | - | €11,169 | +€11,169 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,852 | €3,539 | -€5,313 | -60.0% |
| Other operating charges | 640/8 | €1,798 | €1,919 | +€121 | +6.7% |
| Gross operating margin | 9900 | €392,262 | €281,176 | -€111,085 | -28.3% |
| Operating profit (loss) | 9901 | €381,612 | €275,718 | -€105,894 | -27.7% |
| Financial income | 75/76B | €537 | €78 | -€459 | -85.4% |
| Recurring financial income | 75 | €537 | €78 | -€459 | -85.4% |
| Financial charges | 65/66B | €218 | €150 | -€68 | -31.3% |
| Recurring financial charges | 65 | €218 | €150 | -€68 | -31.3% |
| Profit (loss) for the period before taxes | 9903 | €381,931 | €275,646 | -€106,284 | -27.8% |
| Income taxes | 67/77 | €92,079 | €63,840 | -€28,239 | -30.7% |
| Profit (loss) for the period | 9904 | €289,852 | €211,806 | -€78,045 | -26.9% |
| Profit (loss) for the period to be appropriated | 9905 | €289,852 | €211,806 | -€78,045 | -26.9% |
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 25 October 2026 via checked.be.