JONATHAN 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.
JONATHAN MARTENS
Largest movements
- Tangible fixed assets -€6,163
down €6,163 (-31.3%), from €19,712 to €13,549
of which Furniture and vehicles: -€6,018
- Reserves -€34,475
down €34,475 (-88.7%), from €38,879 to €4,404
- Other debts +€30,192
up €30,192 (+575%), from €5,253 to €35,445
- Tax, wage and social debts -€4,440
down €4,440 (-98.8%), from €4,493 to €53
- Trade debts +€3,040
up €3,040 (+209%), from €1,452 to €4,493
- Gross operating margin -€2,858
down €2,858 (-15.5%), from €18,492 to €15,634
- Taxes -€440
down €440 (-9.8%), from €4,493 to €4,053
- Depreciation +€260
up €260 (+4.4%), from €5,903 to €6,163
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 | €53,076 | €47,394 | -€5,682 | -10.7% |
| Fixed assets | 21/28 | €19,712 | €13,549 | -€6,163 | -31.3% |
| Tangible fixed assets | 22/27 | €19,712 | €13,549 | -€6,163 | -31.3% |
| Land and buildings | 22 | €1,446 | €1,301 | -€145 | -10.0% |
| Furniture and vehicles | 24 | €18,266 | €12,248 | -€6,018 | -32.9% |
| Current assets | 29/58 | €33,364 | €33,845 | +€481 | +1.4% |
| Amounts receivable within one year | 40/41 | €16,668 | €16,718 | +€50 | +0.3% |
| Trade receivables | 40 | €14,900 | €14,900 | = | 0.0% |
| Other amounts receivable | 41 | €1,768 | €1,818 | +€50 | +2.8% |
| Cash at bank and in hand | 54/58 | €16,696 | €17,127 | +€431 | +2.6% |
| Total equity and liabilities | 10/49 | €53,076 | €47,394 | -€5,682 | -10.7% |
| Equity | 10/15 | €41,879 | €7,404 | -€34,475 | -82.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €38,879 | €4,404 | -€34,475 | -88.7% |
| Distributable reserves | 133 | €38,879 | €4,404 | -€34,475 | -88.7% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €11,198 | €39,991 | +€28,793 | +257% |
| Amounts payable within one year | 42/48 | €11,198 | €39,991 | +€28,793 | +257% |
| Trade debts | 44 | €1,452 | €4,493 | +€3,040 | +209% |
| Suppliers | 440/4 | €1,452 | €4,493 | +€3,040 | +209% |
| Taxes, remuneration and social security | 45 | €4,493 | €53 | -€4,440 | -98.8% |
| Taxes | 450/3 | €4,493 | €53 | -€4,440 | -98.8% |
| Other amounts payable | 47/48 | €5,253 | €35,445 | +€30,192 | +575% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,903 | €6,163 | +€260 | +4.4% |
| Other operating charges | 640/8 | €768 | €900 | +€132 | +17.2% |
| Gross operating margin | 9900 | €18,492 | €15,634 | -€2,858 | -15.5% |
| Operating profit (loss) | 9901 | €11,821 | €8,570 | -€3,251 | -27.5% |
| Financial income | 75/76B | €0 | €5 | +€5 | |
| Recurring financial income | 75 | €0 | €5 | +€5 | |
| Financial charges | 65/66B | €120 | €119 | -€2 | -1.3% |
| Recurring financial charges | 65 | €120 | €119 | -€2 | -1.3% |
| Profit (loss) for the period before taxes | 9903 | €11,700 | €8,457 | -€3,244 | -27.7% |
| Income taxes | 67/77 | €4,493 | €4,053 | -€440 | -9.8% |
| Profit (loss) for the period | 9904 | €7,208 | €4,404 | -€2,804 | -38.9% |
| Profit (loss) for the period to be appropriated | 9905 | €7,208 | €4,404 | -€2,804 | -38.9% |
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 26 October 2026 via checked.be.