J MARTINS: 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.
J MARTINS
Largest movements
- Cash -€31,082
down €31,082 (-68.4%), from €45,432 to €14,350
mainly Receivables within one year (-€30,356) and Other debts (-€2,997)
- Receivables within one year +€30,356
up €30,356 (+51.7%), from €58,692 to €89,048
of which Trade receivables: +€30,356
- Other debts -€2,997
down €2,997 (-15.8%), from €18,937 to €15,940
- Trade debts +€2,273
new in 2025: €2,273
- Tax, wage and social debts -€1,414
down €1,414 (-13.6%), from €10,365 to €8,950
of which Taxes: -€914
- Gross operating margin -€13,016
down €13,016 (-80.3%), from €16,205 to €3,188
- Taxes -€2,139
down €2,139 (-81.7%), from €2,619 to €480
- Depreciation -€685
down €685 (-64.8%), from €1,057 to €372
- Other operating charges -€200
down €200 (-12.0%), from €1,656 to €1,457
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 | €105,388 | €103,939 | -€1,449 | -1.4% |
| Fixed assets | 21/28 | €932 | €541 | -€391 | -41.9% |
| Tangible fixed assets | 22/27 | €870 | €479 | -€391 | -44.9% |
| Furniture and vehicles | 24 | €870 | €479 | -€391 | -44.9% |
| Financial fixed assets | 28 | €62 | €62 | = | 0.0% |
| Current assets | 29/58 | €104,456 | €103,398 | -€1,058 | -1.0% |
| Amounts receivable within one year | 40/41 | €58,692 | €89,048 | +€30,356 | +51.7% |
| Trade receivables | 40 | €58,057 | €88,413 | +€30,356 | +52.3% |
| Other amounts receivable | 41 | €635 | €635 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €45,432 | €14,350 | -€31,082 | -68.4% |
| Deferred charges and accrued income | 490/1 | €332 | - | -€332 | |
| Total equity and liabilities | 10/49 | €105,388 | €103,939 | -€1,449 | -1.4% |
| Equity | 10/15 | €76,086 | €76,776 | +€690 | +0.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €46,860 | €46,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €45,000 | €45,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €23,026 | €23,716 | +€690 | +3.0% |
| Amounts payable | 17/49 | €29,301 | €27,163 | -€2,138 | -7.3% |
| Amounts payable within one year | 42/48 | €29,301 | €27,163 | -€2,138 | -7.3% |
| Trade debts | 44 | - | €2,273 | +€2,273 | |
| Suppliers | 440/4 | - | €2,273 | +€2,273 | |
| Taxes, remuneration and social security | 45 | €10,365 | €8,950 | -€1,414 | -13.6% |
| Taxes | 450/3 | €9,865 | €8,950 | -€914 | -9.3% |
| Remuneration and social security | 454/9 | €500 | - | -€500 | |
| Other amounts payable | 47/48 | €18,937 | €15,940 | -€2,997 | -15.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,057 | €372 | -€685 | -64.8% |
| Other operating charges | 640/8 | €1,656 | €1,457 | -€200 | -12.0% |
| Gross operating margin | 9900 | €16,205 | €3,188 | -€13,016 | -80.3% |
| Operating profit (loss) | 9901 | €13,491 | €1,360 | -€12,132 | -89.9% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €161 | €190 | +€29 | +18.0% |
| Recurring financial charges | 65 | €161 | €190 | +€29 | +18.0% |
| Profit (loss) for the period before taxes | 9903 | €13,330 | €1,169 | -€12,161 | -91.2% |
| Income taxes | 67/77 | €2,619 | €480 | -€2,139 | -81.7% |
| Profit (loss) for the period | 9904 | €10,711 | €690 | -€10,022 | -93.6% |
| Profit (loss) for the period to be appropriated | 9905 | €10,711 | €690 | -€10,022 | -93.6% |
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 28 October 2026 via checked.be.