MARTEK: what changed
Two fiscal 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.
MARTEK
Largest movements
- Receivables within one year +€166,715
up €166,715 (+1163.2%), from €14,333 to €181,048
of which Trade receivables: +€94,715
- Cash -€108,642
no longer reported in 2025 (was €108,642)
mainly Receivables within one year (-€166,715) and Other debts (-€39,388)
- Stocks and contracts -€103,090
down €103,090 (-23.7%), from €434,922 to €331,832
- Other debts -€39,388
down €39,388 (-98.7%), from €39,910 to €521
- Tax, wage and social debts -€25,628
down €25,628 (-20.6%), from €124,177 to €98,549
of which Taxes: -€41,557
- Profit (loss) carried forward +€23,937
up €23,937 (+12.8%), from -€186,557 to -€162,620
- Trade debts -€9,534
down €9,534 (-29.2%), from €32,622 to €23,088
- Gross operating margin +€68,588
up €68,588 (+46.1%), from €148,901 to €217,489
- Staff costs -€38,981
down €38,981 (-17.8%), from €218,556 to €179,575
- Financial charges -€8,552
down €8,552 (-49.9%), from €17,136 to €8,583
- Other operating charges +€2,438
up €2,438 (+97.8%), from €2,493 to €4,931
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 | €560,171 | €513,620 | -€46,552 | -8.3% |
| Fixed assets | 21/28 | €50 | €50 | = | 0.0% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €560,121 | €513,570 | -€46,552 | -8.3% |
| Stocks and contracts in progress | 3 | €434,922 | €331,832 | -€103,090 | -23.7% |
| Contracts in progress | 37 | €434,922 | €331,832 | -€103,090 | -23.7% |
| Amounts receivable within one year | 40/41 | €14,333 | €181,048 | +€166,715 | +1163.2% |
| Trade receivables | 40 | €14,333 | €109,048 | +€94,715 | +660.8% |
| Other amounts receivable | 41 | - | €72,000 | +€72,000 | |
| Cash at bank and in hand | 54/58 | €108,642 | - | -€108,642 | |
| Deferred charges and accrued income | 490/1 | €2,225 | €689 | -€1,535 | -69.0% |
| Total equity and liabilities | 10/49 | €560,171 | €513,620 | -€46,552 | -8.3% |
| Equity | 10/15 | €333,903 | €357,840 | +€23,937 | +7.2% |
| Contributions | 10/11 | €518,600 | €518,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€186,557 | -€162,620 | +€23,937 | +12.8% |
| Amounts payable | 17/49 | €226,268 | €155,780 | -€70,488 | -31.2% |
| Amounts payable within one year | 42/48 | €225,923 | €155,425 | -€70,498 | -31.2% |
| Financial debts | 43 | €29,215 | €33,267 | +€4,053 | +13.9% |
| Credit institutions | 430/8 | €29,215 | €33,267 | +€4,053 | +13.9% |
| Trade debts | 44 | €32,622 | €23,088 | -€9,534 | -29.2% |
| Suppliers | 440/4 | €32,622 | €23,088 | -€9,534 | -29.2% |
| Taxes, remuneration and social security | 45 | €124,177 | €98,549 | -€25,628 | -20.6% |
| Taxes | 450/3 | €58,806 | €17,249 | -€41,557 | -70.7% |
| Remuneration and social security | 454/9 | €65,371 | €81,300 | +€15,929 | +24.4% |
| Other amounts payable | 47/48 | €39,910 | €521 | -€39,388 | -98.7% |
| Accrued charges and deferred income | 492/3 | €345 | €355 | +€9 | +2.7% |
| Remuneration, social security and pensions | 62 | €218,556 | €179,575 | -€38,981 | -17.8% |
| Other operating charges | 640/8 | €2,493 | €4,931 | +€2,438 | +97.8% |
| Gross operating margin | 9900 | €148,901 | €217,489 | +€68,588 | +46.1% |
| Operating profit (loss) | 9901 | -€72,148 | €32,983 | +€105,131 | |
| Financial charges | 65/66B | €17,136 | €8,583 | -€8,552 | -49.9% |
| Recurring financial charges | 65 | €17,136 | €8,583 | -€8,552 | -49.9% |
| Profit (loss) for the period before taxes | 9903 | -€89,284 | €24,400 | +€113,683 | |
| Income taxes | 67/77 | €658 | €463 | -€195 | -29.6% |
| Profit (loss) for the period | 9904 | -€89,941 | €23,937 | +€113,878 | |
| Profit (loss) for the period to be appropriated | 9905 | -€89,941 | €23,937 | +€113,878 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.