MARTELLA: 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.
MARTELLA
Largest movements
- Receivables within one year +€23,063
up €23,063 (+1216.7%), from €1,896 to €24,958
of which Trade receivables: +€24,216
- Tangible fixed assets -€13,325
down €13,325 (-23.7%), from €56,167 to €42,843
- Cash +€12,949
up €12,949 (+30.4%), from €42,599 to €55,549
mainly Trade debts (+€13,639) and Depreciation (+€13,325)
- Stocks and contracts -€2,432
down €2,432 (-25.1%), from €9,707 to €7,275
- Trade debts +€13,639
up €13,639 (+133.8%), from €10,195 to €23,834
- Debts after one year +€4,350
up €4,350 (+65.2%), from €6,671 to €11,020
- Profit (loss) carried forward +€4,177
up €4,177 (+8.8%), from €47,604 to €51,781
- Tax, wage and social debts -€1,509
down €1,509 (-39.1%), from €3,856 to €2,346
of which Remuneration and social security: -€2,212
- Other debts -€1,379
down €1,379 (-7.3%), from €18,912 to €17,533
- Staff costs -€7,132
down €7,132 (-30.8%), from €23,153 to €16,021
- Gross operating margin -€3,394
down €3,394 (-8.4%), from €40,559 to €37,165
- Depreciation +€1,458
up €1,458 (+12.3%), from €11,867 to €13,325
- Financial charges +€482
up €482 (+35.2%), from €1,370 to €1,851
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 | €115,063 | €134,188 | +€19,125 | +16.6% |
| Fixed assets | 21/28 | €59,028 | €45,704 | -€13,325 | -22.6% |
| Tangible fixed assets | 22/27 | €56,167 | €42,843 | -€13,325 | -23.7% |
| Land and buildings | 22 | €42,007 | €35,689 | -€6,318 | -15.0% |
| Plant, machinery and equipment | 23 | €7,612 | €5,295 | -€2,317 | -30.4% |
| Furniture and vehicles | 24 | €6,548 | €1,859 | -€4,690 | -71.6% |
| Financial fixed assets | 28 | €2,861 | €2,861 | = | 0.0% |
| Current assets | 29/58 | €56,035 | €88,484 | +€32,449 | +57.9% |
| Stocks and contracts in progress | 3 | €9,707 | €7,275 | -€2,432 | -25.1% |
| Stocks | 30/36 | €9,707 | €7,275 | -€2,432 | -25.1% |
| Amounts receivable within one year | 40/41 | €1,896 | €24,958 | +€23,063 | +1216.7% |
| Trade receivables | 40 | €743 | €24,958 | +€24,216 | +3261.0% |
| Other amounts receivable | 41 | €1,153 | - | -€1,153 | |
| Cash at bank and in hand | 54/58 | €42,599 | €55,549 | +€12,949 | +30.4% |
| Deferred charges and accrued income | 490/1 | €1,833 | €702 | -€1,131 | -61.7% |
| Total equity and liabilities | 10/49 | €115,063 | €134,188 | +€19,125 | +16.6% |
| Equity | 10/15 | €70,278 | €74,456 | +€4,177 | +5.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Contributions outside capital | 11 | €18,592 | €18,592 | = | 0.0% |
| Share premium | 1100/10 | €18,592 | - | -€18,592 | |
| Other | 1109/19 | - | €18,592 | +€18,592 | |
| Reserves | 13 | €4,082 | €4,082 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,223 | €2,223 | = | 0.0% |
| Profit (loss) carried forward | 14 | €47,604 | €51,781 | +€4,177 | +8.8% |
| Amounts payable | 17/49 | €44,784 | €59,732 | +€14,948 | +33.4% |
| Amounts payable after more than one year | 17 | €6,671 | €11,020 | +€4,350 | +65.2% |
| Financial debts | 170/4 | €6,671 | €11,020 | +€4,350 | +65.2% |
| Amounts payable within one year | 42/48 | €38,114 | €48,563 | +€10,449 | +27.4% |
| Current portion of amounts payable after more than one year | 42 | €5,151 | €4,850 | -€301 | -5.8% |
| Trade debts | 44 | €10,195 | €23,834 | +€13,639 | +133.8% |
| Suppliers | 440/4 | €10,195 | €23,834 | +€13,639 | +133.8% |
| Taxes, remuneration and social security | 45 | €3,856 | €2,346 | -€1,509 | -39.1% |
| Taxes | 450/3 | €250 | €953 | +€703 | +281.2% |
| Remuneration and social security | 454/9 | €3,606 | €1,394 | -€2,212 | -61.3% |
| Other amounts payable | 47/48 | €18,912 | €17,533 | -€1,379 | -7.3% |
| Accrued charges and deferred income | 492/3 | - | €149 | +€149 | |
| Remuneration, social security and pensions | 62 | €23,153 | €16,021 | -€7,132 | -30.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,867 | €13,325 | +€1,458 | +12.3% |
| Other operating charges | 640/8 | €1,289 | €962 | -€327 | -25.4% |
| Gross operating margin | 9900 | €40,559 | €37,165 | -€3,394 | -8.4% |
| Operating profit (loss) | 9901 | €4,250 | €6,858 | +€2,608 | +61.4% |
| Financial income | 75/76B | €16 | €3 | -€13 | -81.2% |
| Recurring financial income | 75 | €16 | €3 | -€13 | -81.2% |
| Financial charges | 65/66B | €1,370 | €1,851 | +€482 | +35.2% |
| Recurring financial charges | 65 | €1,370 | €1,851 | +€482 | +35.2% |
| Profit (loss) for the period before taxes | 9903 | €2,897 | €5,010 | +€2,113 | +73.0% |
| Income taxes | 67/77 | €285 | - | -€285 | |
| Profit (loss) for the period | 9904 | €2,612 | €5,010 | +€2,398 | +91.8% |
| Profit (loss) for the period to be appropriated | 9905 | €2,612 | €5,010 | +€2,398 | +91.8% |
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 11 October 2026 via checked.be.