MAARTENSBERG: 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.
MAARTENSBERG
Largest movements
- Tangible fixed assets -€32,723
down €32,723 (-6.6%), from €497,229 to €464,506
- Receivables within one year -€22,066
down €22,066 (-79.6%), from €27,717 to €5,652
of which Other amounts receivable: -€22,843
- Debts after one year -€37,347
down €37,347 (-34.7%), from €107,531 to €70,184
- Other debts -€36,560
down €36,560 (-71.2%), from €51,359 to €14,799
- Trade debts +€12,613
up €12,613 (+171%), from €7,373 to €19,986
- Current portion of long-term debt +€7,643
up €7,643 (+25.7%), from €29,774 to €37,417
- Financial charges +€1,046
up €1,046 (+16.2%), from €6,445 to €7,491
- Financial income +€795
up €795 (+2,138%), from €37 to €832
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 | €530,485 | €472,434 | -€58,051 | -10.9% |
| Fixed assets | 21/28 | €497,229 | €464,506 | -€32,723 | -6.6% |
| Tangible fixed assets | 22/27 | €497,229 | €464,506 | -€32,723 | -6.6% |
| Land and buildings | 22 | €497,229 | €464,506 | -€32,723 | -6.6% |
| Current assets | 29/58 | €33,256 | €7,928 | -€25,328 | -76.2% |
| Amounts receivable within one year | 40/41 | €27,717 | €5,652 | -€22,066 | -79.6% |
| Trade receivables | 40 | - | €777 | +€777 | |
| Other amounts receivable | 41 | €27,717 | €4,875 | -€22,843 | -82.4% |
| Cash at bank and in hand | 54/58 | €4,766 | €1,444 | -€3,322 | -69.7% |
| Deferred charges and accrued income | 490/1 | €773 | €832 | +€60 | +7.7% |
| Total equity and liabilities | 10/49 | €530,485 | €472,434 | -€58,051 | -10.9% |
| Equity | 10/15 | €331,688 | €327,121 | -€4,568 | -1.4% |
| Contributions | 10/11 | €305,000 | €305,000 | = | 0.0% |
| Capital | 10 | €305,000 | €305,000 | = | 0.0% |
| Issued capital | 100 | €305,000 | €305,000 | = | 0.0% |
| Reserves | 13 | €30,500 | €30,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €30,500 | €30,500 | = | 0.0% |
| Legal reserve | 130 | €30,500 | €30,500 | = | 0.0% |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | -€3,812 | -€8,379 | -€4,568 | -120% |
| Amounts payable | 17/49 | €198,797 | €145,313 | -€53,483 | -26.9% |
| Amounts payable after more than one year | 17 | €107,531 | €70,184 | -€37,347 | -34.7% |
| Financial debts | 170/4 | €107,531 | €70,184 | -€37,347 | -34.7% |
| Amounts payable within one year | 42/48 | €91,266 | €75,129 | -€16,136 | -17.7% |
| Current portion of amounts payable after more than one year | 42 | €29,774 | €37,417 | +€7,643 | +25.7% |
| Trade debts | 44 | €7,373 | €19,986 | +€12,613 | +171% |
| Suppliers | 440/4 | €7,373 | €19,986 | +€12,613 | +171% |
| Taxes, remuneration and social security | 45 | €2,760 | €2,927 | +€168 | +6.1% |
| Taxes | 450/3 | €2,760 | €2,927 | +€168 | +6.1% |
| Other amounts payable | 47/48 | €51,359 | €14,799 | -€36,560 | -71.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,723 | €32,723 | = | 0.0% |
| Other operating charges | 640/8 | €7,878 | €8,087 | +€209 | +2.7% |
| Gross operating margin | 9900 | €43,197 | €42,902 | -€295 | -0.7% |
| Operating profit (loss) | 9901 | €2,596 | €2,092 | -€504 | -19.4% |
| Financial income | 75/76B | €37 | €832 | +€795 | +2,138% |
| Recurring financial income | 75 | €37 | €832 | +€795 | +2,138% |
| Financial charges | 65/66B | €6,445 | €7,491 | +€1,046 | +16.2% |
| Recurring financial charges | 65 | €6,445 | €7,491 | +€1,046 | +16.2% |
| Profit (loss) for the period before taxes | 9903 | -€3,812 | -€4,568 | -€756 | -19.8% |
| Profit (loss) for the period | 9904 | -€3,812 | -€4,568 | -€756 | -19.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,812 | -€4,568 | -€756 | -19.8% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.