MARTENS BART: 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.
MARTENS BART
Largest movements
- Tangible fixed assets -€11,889
down €11,889 (-86.1%), from €13,808 to €1,919
of which Furniture and vehicles: -€11,872
- Current investments +€10,000
up €10,000 (+33.3%), from €30,000 to €40,000
- Cash -€5,086
down €5,086 (-13.0%), from €39,258 to €34,172
mainly Contributions, distributions and other (-€30,800) and Current investments (-€10,000)
- Deferred charges and accrued income -€1,238
down €1,238 (-59.5%), from €2,083 to €845
- Tax, wage and social debts +€12,555
up €12,555 (+180%), from €6,987 to €19,543
- Reserves -€10,910
down €10,910 (-15.9%), from €68,540 to €57,630
- Other debts -€5,446
down €5,446 (-51.0%), from €10,677 to €5,231
- Current portion of long-term debt -€3,767
down €3,767 (-100%), from €3,767 to €0
- Gross operating margin +€7,608
up €7,608 (+21.2%), from €35,829 to €43,436
- Taxes +€1,820
up €1,820 (+20.6%), from €8,858 to €10,678
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 | €106,912 | €98,907 | -€8,004 | -7.5% |
| Fixed assets | 21/28 | €13,808 | €1,919 | -€11,889 | -86.1% |
| Tangible fixed assets | 22/27 | €13,808 | €1,919 | -€11,889 | -86.1% |
| Plant, machinery and equipment | 23 | €17 | €0 | -€17 | -100% |
| Furniture and vehicles | 24 | €13,791 | €1,919 | -€11,872 | -86.1% |
| Current assets | 29/58 | €93,104 | €96,988 | +€3,885 | +4.2% |
| Amounts receivable within one year | 40/41 | €21,762 | €21,971 | +€209 | +1.0% |
| Trade receivables | 40 | €19,428 | €20,059 | +€631 | +3.2% |
| Other amounts receivable | 41 | €2,335 | €1,912 | -€422 | -18.1% |
| Current investments | 50/53 | €30,000 | €40,000 | +€10,000 | +33.3% |
| Cash at bank and in hand | 54/58 | €39,258 | €34,172 | -€5,086 | -13.0% |
| Deferred charges and accrued income | 490/1 | €2,083 | €845 | -€1,238 | -59.5% |
| Total equity and liabilities | 10/49 | €106,912 | €98,907 | -€8,004 | -7.5% |
| Equity | 10/15 | €84,668 | €73,759 | -€10,908 | -12.9% |
| Contributions | 10/11 | €11,600 | €11,600 | = | 0.0% |
| Reserves | 13 | €68,540 | €57,630 | -€10,910 | -15.9% |
| Distributable reserves | 133 | €68,540 | €57,630 | -€10,910 | -15.9% |
| Profit (loss) carried forward | 14 | €4,528 | €4,529 | +€2 | 0.0% |
| Amounts payable | 17/49 | €22,244 | €25,148 | +€2,904 | +13.1% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €22,244 | €25,148 | +€2,904 | +13.1% |
| Current portion of amounts payable after more than one year | 42 | €3,767 | €0 | -€3,767 | -100% |
| Trade debts | 44 | €813 | €374 | -€438 | -53.9% |
| Suppliers | 440/4 | €813 | €374 | -€438 | -53.9% |
| Taxes, remuneration and social security | 45 | €6,987 | €19,543 | +€12,555 | +180% |
| Taxes | 450/3 | €6,987 | €19,543 | +€12,555 | +180% |
| Other amounts payable | 47/48 | €10,677 | €5,231 | -€5,446 | -51.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,121 | €11,889 | -€232 | -1.9% |
| Other operating charges | 640/8 | €1,045 | €924 | -€121 | -11.6% |
| Gross operating margin | 9900 | €35,829 | €43,436 | +€7,608 | +21.2% |
| Operating profit (loss) | 9901 | €22,663 | €30,623 | +€7,961 | +35.1% |
| Financial income | 75/76B | €368 | €101 | -€267 | -72.5% |
| Recurring financial income | 75 | €368 | €101 | -€267 | -72.5% |
| Financial charges | 65/66B | €219 | €155 | -€64 | -29.3% |
| Recurring financial charges | 65 | €219 | €155 | -€64 | -29.3% |
| Profit (loss) for the period before taxes | 9903 | €22,812 | €30,570 | +€7,758 | +34.0% |
| Income taxes | 67/77 | €8,858 | €10,678 | +€1,820 | +20.6% |
| Profit (loss) for the period | 9904 | €13,954 | €19,892 | +€5,938 | +42.6% |
| Profit (loss) for the period to be appropriated | 9905 | €13,954 | €19,892 | +€5,938 | +42.6% |
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 28 October 2026 via checked.be.