MAERTENS ENGINEERING: 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.
MAERTENS ENGINEERING
Largest movements
- Receivables within one year -€20,119
down €20,119 (-81.7%), from €24,632 to €4,514
of which Trade receivables: -€24,383
- Cash -€19,832
down €19,832 (-15.6%), from €126,911 to €107,079
mainly Other debts (-€61,059) and Contributions, distributions and other (-€8,996)
- Tangible fixed assets -€2,264
down €2,264 (-31.3%), from €7,237 to €4,973
of which Plant, machinery and equipment: -€2,096
- Other debts -€61,059
down €61,059 (-48.1%), from €126,953 to €65,893
- Profit (loss) carried forward +€18,710
up €18,710 (+208.0%), from €8,996 to €27,705
- Gross operating margin -€57,251
down €57,251 (-58.5%), from €97,904 to €40,653
- Taxes -€11,085
down €11,085 (-59.0%), from €18,786 to €7,701
- Financial charges +€1,455
up €1,455 (+989.8%), from €147 to €1,602
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.
Cash bridge derived
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 | €163,860 | €122,159 | -€41,701 | -25.4% |
| Fixed assets | 21/28 | €7,237 | €4,973 | -€2,264 | -31.3% |
| Tangible fixed assets | 22/27 | €7,237 | €4,973 | -€2,264 | -31.3% |
| Plant, machinery and equipment | 23 | €6,654 | €4,558 | -€2,096 | -31.5% |
| Furniture and vehicles | 24 | €583 | €415 | -€168 | -28.8% |
| Current assets | 29/58 | €156,623 | €117,187 | -€39,437 | -25.2% |
| Amounts receivable within one year | 40/41 | €24,632 | €4,514 | -€20,119 | -81.7% |
| Trade receivables | 40 | €24,383 | - | -€24,383 | |
| Other amounts receivable | 41 | €249 | €4,514 | +€4,265 | +1714.8% |
| Cash at bank and in hand | 54/58 | €126,911 | €107,079 | -€19,832 | -15.6% |
| Deferred charges and accrued income | 490/1 | €5,080 | €5,594 | +€514 | +10.1% |
| Total equity and liabilities | 10/49 | €163,860 | €122,159 | -€41,701 | -25.4% |
| Equity | 10/15 | €29,456 | €48,165 | +€18,710 | +63.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,996 | €27,705 | +€18,710 | +208.0% |
| Amounts payable | 17/49 | €134,405 | €73,994 | -€60,411 | -44.9% |
| Amounts payable within one year | 42/48 | €134,405 | €72,538 | -€61,866 | -46.0% |
| Trade debts | 44 | €1,737 | €806 | -€931 | -53.6% |
| Suppliers | 440/4 | €1,737 | €806 | -€931 | -53.6% |
| Taxes, remuneration and social security | 45 | €5,715 | €5,839 | +€124 | +2.2% |
| Taxes | 450/3 | €3,694 | €3,772 | +€79 | +2.1% |
| Remuneration and social security | 454/9 | €2,022 | €2,067 | +€45 | +2.2% |
| Other amounts payable | 47/48 | €126,953 | €65,893 | -€61,059 | -48.1% |
| Accrued charges and deferred income | 492/3 | - | €1,456 | +€1,456 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,141 | €3,051 | -€90 | -2.9% |
| Other operating charges | 640/8 | €577 | €593 | +€16 | +2.8% |
| Gross operating margin | 9900 | €97,904 | €40,653 | -€57,251 | -58.5% |
| Operating profit (loss) | 9901 | €94,186 | €37,008 | -€57,177 | -60.7% |
| Financial charges | 65/66B | €147 | €1,602 | +€1,455 | +989.8% |
| Recurring financial charges | 65 | €147 | €1,602 | +€1,455 | +989.8% |
| Profit (loss) for the period before taxes | 9903 | €94,039 | €35,406 | -€58,632 | -62.3% |
| Income taxes | 67/77 | €18,786 | €7,701 | -€11,085 | -59.0% |
| Profit (loss) for the period | 9904 | €75,253 | €27,705 | -€47,548 | -63.2% |
| Profit (loss) for the period to be appropriated | 9905 | €75,253 | €27,705 | -€47,548 | -63.2% |
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 9 October 2026 via checked.be.