MAERTENS MANAGEMENT: 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 MANAGEMENT
Largest movements
- Cash -€1,958
down €1,958 (-97.9%), from €2,000 to €42
mainly Net result for the year (-€2,267) and Trade debts (-€471)
- Tangible fixed assets -€688
down €688 (-15.4%), from €4,480 to €3,792
- Profit (loss) carried forward -€2,267
down €2,267 (-21.3%), from -€10,667 to -€12,935
- Trade debts -€471
down €471 (-90.7%), from €519 to €48
- Other debts +€141
new in 2025: €141
- Gross operating margin +€1,170
up €1,170 (+51.1%), from -€2,291 to -€1,121
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 | €11,305 | €8,708 | -€2,597 | -23.0% |
| Fixed assets | 21/28 | €4,480 | €3,792 | -€688 | -15.4% |
| Tangible fixed assets | 22/27 | €4,480 | €3,792 | -€688 | -15.4% |
| Other tangible fixed assets | 26 | €4,480 | €3,792 | -€688 | -15.4% |
| Current assets | 29/58 | €6,825 | €4,917 | -€1,909 | -28.0% |
| Amounts receivable within one year | 40/41 | €3,485 | €3,533 | +€48 | +1.4% |
| Trade receivables | 40 | €53 | €53 | = | 0.0% |
| Other amounts receivable | 41 | €3,432 | €3,480 | +€48 | +1.4% |
| Current investments | 50/53 | €1,271 | €1,271 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €2,000 | €42 | -€1,958 | -97.9% |
| Deferred charges and accrued income | 490/1 | €69 | €71 | +€2 | +3.3% |
| Total equity and liabilities | 10/49 | €11,305 | €8,708 | -€2,597 | -23.0% |
| Equity | 10/15 | €10,786 | €8,519 | -€2,267 | -21.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €16,453 | €16,453 | = | 0.0% |
| Distributable reserves | 133 | €16,453 | €16,453 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,667 | -€12,935 | -€2,267 | -21.3% |
| Amounts payable | 17/49 | €519 | €190 | -€330 | -63.5% |
| Amounts payable within one year | 42/48 | €519 | €190 | -€330 | -63.5% |
| Trade debts | 44 | €519 | €48 | -€471 | -90.7% |
| Suppliers | 440/4 | €519 | €48 | -€471 | -90.7% |
| Other amounts payable | 47/48 | - | €141 | +€141 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €688 | €688 | = | 0.0% |
| Other operating charges | 640/8 | €513 | €528 | +€14 | +2.8% |
| Gross operating margin | 9900 | -€2,291 | -€1,121 | +€1,170 | +51.1% |
| Operating profit (loss) | 9901 | -€3,493 | -€2,337 | +€1,156 | +33.1% |
| Financial income | 75/76B | €182 | €165 | -€18 | -9.6% |
| Recurring financial income | 75 | €182 | €165 | -€18 | -9.6% |
| Financial charges | 65/66B | €112 | €95 | -€17 | -15.0% |
| Recurring financial charges | 65 | €112 | €95 | -€17 | -15.0% |
| Profit (loss) for the period before taxes | 9903 | -€3,422 | -€2,267 | +€1,155 | +33.7% |
| Profit (loss) for the period | 9904 | -€3,422 | -€2,267 | +€1,155 | +33.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,422 | -€2,267 | +€1,155 | +33.7% |
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 23 October 2026 via checked.be.