MARTAPIA: 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.
MARTAPIA
Largest movements
- Current investments +€241,852
up €241,852 (+3.1%), from €7.9m to €8.2m
- Receivables within one year +€229,491
up €229,491 (+13.4%), from €1.7m to €1.9m
of which Trade receivables: +€260,863
- Reserves +€583,000
up €583,000 (+23.5%), from €2.5m to €3.1m
of which Distributable reserves: +€583,000
- Other debts -€226,535
down €226,535 (-12.4%), from €1.8m to €1.6m
- Financial income +€219,738
up €219,738 (+106%), from €208,132 to €427,870
- Taxes +€78,335
up €78,335 (+35.9%), from €218,012 to €296,347
- Gross operating margin +€49,435
up €49,435 (+8.7%), from €565,411 to €614,846
- Financial charges +€8,455
up €8,455 (+8.2%), from €103,163 to €111,618
- Depreciation -€7,294
down €7,294 (-13.0%), from €55,927 to €48,633
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 | €14,707,394 | €15,116,710 | +€409,316 | +2.8% |
| Fixed assets | 21/28 | €875,673 | €866,321 | -€9,352 | -1.1% |
| Tangible fixed assets | 22/27 | €875,673 | €866,321 | -€9,352 | -1.1% |
| Land and buildings | 22 | €813,639 | €777,611 | -€36,028 | -4.4% |
| Plant, machinery and equipment | 23 | - | €37,795 | +€37,795 | |
| Furniture and vehicles | 24 | €25,000 | €25,000 | = | 0.0% |
| Other tangible fixed assets | 26 | €37,034 | €25,915 | -€11,119 | -30.0% |
| Current assets | 29/58 | €13,831,721 | €14,250,389 | +€418,668 | +3.0% |
| Amounts receivable within one year | 40/41 | €1,707,612 | €1,937,103 | +€229,491 | +13.4% |
| Trade receivables | 40 | €1,365,982 | €1,626,845 | +€260,863 | +19.1% |
| Other amounts receivable | 41 | €341,630 | €310,258 | -€31,372 | -9.2% |
| Current investments | 50/53 | €7,929,251 | €8,171,103 | +€241,852 | +3.1% |
| Cash at bank and in hand | 54/58 | €4,194,858 | €4,142,183 | -€52,675 | -1.3% |
| Total equity and liabilities | 10/49 | €14,707,394 | €15,116,710 | +€409,316 | +2.8% |
| Equity | 10/15 | €12,862,722 | €13,445,888 | +€583,166 | +4.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €2,480,065 | €3,063,065 | +€583,000 | +23.5% |
| Non-distributable reserves | 130/1 | €196,565 | €196,565 | = | 0.0% |
| Reserves not available under the articles | 1311 | €196,565 | €196,565 | = | 0.0% |
| Distributable reserves | 133 | €2,283,500 | €2,866,500 | +€583,000 | +25.5% |
| Profit (loss) carried forward | 14 | €10,370,257 | €10,370,423 | +€166 | 0.0% |
| Amounts payable | 17/49 | €1,844,672 | €1,670,822 | -€173,850 | -9.4% |
| Amounts payable within one year | 42/48 | €1,844,672 | €1,645,998 | -€198,674 | -10.8% |
| Trade debts | 44 | €4,247 | €2,709 | -€1,538 | -36.2% |
| Suppliers | 440/4 | €4,247 | €2,709 | -€1,538 | -36.2% |
| Taxes, remuneration and social security | 45 | €12,264 | €41,663 | +€29,399 | +240% |
| Taxes | 450/3 | €12,264 | €41,663 | +€29,399 | +240% |
| Other amounts payable | 47/48 | €1,828,161 | €1,601,626 | -€226,535 | -12.4% |
| Accrued charges and deferred income | 492/3 | - | €24,824 | +€24,824 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,927 | €48,633 | -€7,294 | -13.0% |
| Other operating charges | 640/8 | €2,873 | €2,952 | +€79 | +2.7% |
| Gross operating margin | 9900 | €565,411 | €614,846 | +€49,435 | +8.7% |
| Operating profit (loss) | 9901 | €506,611 | €563,261 | +€56,650 | +11.2% |
| Financial income | 75/76B | €208,132 | €427,870 | +€219,738 | +106% |
| Recurring financial income | 75 | €208,132 | €427,870 | +€219,738 | +106% |
| Financial charges | 65/66B | €103,163 | €111,618 | +€8,455 | +8.2% |
| Recurring financial charges | 65 | €103,163 | €111,618 | +€8,455 | +8.2% |
| Profit (loss) for the period before taxes | 9903 | €611,580 | €879,513 | +€267,933 | +43.8% |
| Income taxes | 67/77 | €218,012 | €296,347 | +€78,335 | +35.9% |
| Profit (loss) for the period | 9904 | €393,568 | €583,166 | +€189,598 | +48.2% |
| Profit (loss) for the period to be appropriated | 9905 | €393,568 | €583,166 | +€189,598 | +48.2% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.