G.MARTINEZ: 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.
G.MARTINEZ
Largest movements
- Cash -€84,624
down €84,624 (-62.5%), from €135,502 to €50,878
mainly Contributions, distributions and other (-€154,361) and Receivables within one year (-€11,236)
- Receivables within one year +€11,236
up €11,236 (+44.4%), from €25,288 to €36,524
of which Trade receivables: +€8,465
- Reserves -€70,672
down €70,672 (-45.8%), from €154,361 to €83,689
- Tax, wage and social debts -€2,756
down €2,756 (-73.2%), from €3,766 to €1,010
- Gross operating margin +€16,549
up €16,549 (+18.6%), from €89,098 to €105,647
- Taxes +€3,474
up €3,474 (+19.6%), from €17,756 to €21,230
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 | €161,127 | €87,822 | -€73,305 | -45.5% |
| Current assets | 29/58 | €161,127 | €87,822 | -€73,305 | -45.5% |
| Amounts receivable within one year | 40/41 | €25,288 | €36,524 | +€11,236 | +44.4% |
| Trade receivables | 40 | €25,288 | €33,754 | +€8,465 | +33.5% |
| Other amounts receivable | 41 | - | €2,770 | +€2,770 | |
| Cash at bank and in hand | 54/58 | €135,502 | €50,878 | -€84,624 | -62.5% |
| Deferred charges and accrued income | 490/1 | €337 | €419 | +€83 | +24.6% |
| Total equity and liabilities | 10/49 | €161,127 | €87,822 | -€73,305 | -45.5% |
| Equity | 10/15 | €157,361 | €86,689 | -€70,672 | -44.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €154,361 | €83,689 | -€70,672 | -45.8% |
| Distributable reserves | 133 | €154,361 | €83,689 | -€70,672 | -45.8% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €3,766 | €1,133 | -€2,633 | -69.9% |
| Amounts payable within one year | 42/48 | €3,766 | €1,010 | -€2,756 | -73.2% |
| Taxes, remuneration and social security | 45 | €3,766 | €1,010 | -€2,756 | -73.2% |
| Taxes | 450/3 | €3,766 | €1,010 | -€2,756 | -73.2% |
| Accrued charges and deferred income | 492/3 | - | €123 | +€123 | |
| Other operating charges | 640/8 | €179 | €579 | +€400 | +224% |
| Gross operating margin | 9900 | €89,098 | €105,647 | +€16,549 | +18.6% |
| Operating profit (loss) | 9901 | €88,919 | €105,068 | +€16,149 | +18.2% |
| Financial charges | 65/66B | €139 | €150 | +€11 | +7.7% |
| Recurring financial charges | 65 | €139 | €150 | +€11 | +7.7% |
| Profit (loss) for the period before taxes | 9903 | €88,780 | €104,918 | +€16,138 | +18.2% |
| Income taxes | 67/77 | €17,756 | €21,230 | +€3,474 | +19.6% |
| Profit (loss) for the period | 9904 | €71,024 | €83,689 | +€12,665 | +17.8% |
| Profit (loss) for the period to be appropriated | 9905 | €71,024 | €83,689 | +€12,665 | +17.8% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.