MARTENS & BRIJS: 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 & BRIJS
Largest movements
- Receivables within one year -€72,919
down €72,919 (-16.7%), from €435,440 to €362,521
of which Trade receivables: -€101,077
- Cash +€57,151
up €57,151 (+10.6%), from €540,886 to €598,037
mainly Receivables within one year (+€72,919) and Net result for the year (+€19,185)
- Tangible fixed assets -€12,434
down €12,434 (-61.0%), from €20,372 to €7,938
- Reserves -€40,500
down €40,500 (-5.7%), from €705,278 to €664,777
of which Tax-exempt reserves: -€171,498
- Trade debts +€16,068
up €16,068 (+23.0%), from €69,757 to €85,825
- Gross operating margin -€166,041
down €166,041 (-47.2%), from €351,957 to €185,916
- Staff costs -€92,048
down €92,048 (-42.6%), from €216,290 to €124,242
- Taxes -€11,383
down €11,383 (-28.3%), from €40,201 to €28,818
- Depreciation -€5,750
down €5,750 (-28.8%), from €19,950 to €14,200
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 | €1,040,289 | €1,015,749 | -€24,540 | -2.4% |
| Fixed assets | 21/28 | €23,888 | €9,688 | -€14,200 | -59.4% |
| Intangible fixed assets | 21 | €1,767 | - | -€1,767 | |
| Tangible fixed assets | 22/27 | €20,372 | €7,938 | -€12,434 | -61.0% |
| Furniture and vehicles | 24 | €20,372 | €7,938 | -€12,434 | -61.0% |
| Financial fixed assets | 28 | €1,750 | €1,750 | = | 0.0% |
| Current assets | 29/58 | €1,016,400 | €1,006,061 | -€10,340 | -1.0% |
| Amounts receivable within one year | 40/41 | €435,440 | €362,521 | -€72,919 | -16.7% |
| Trade receivables | 40 | €259,690 | €158,613 | -€101,077 | -38.9% |
| Other amounts receivable | 41 | €175,750 | €203,908 | +€28,158 | +16.0% |
| Cash at bank and in hand | 54/58 | €540,886 | €598,037 | +€57,151 | +10.6% |
| Deferred charges and accrued income | 490/1 | €40,074 | €45,502 | +€5,429 | +13.5% |
| Total equity and liabilities | 10/49 | €1,040,289 | €1,015,749 | -€24,540 | -2.4% |
| Equity | 10/15 | €856,075 | €815,575 | -€40,500 | -4.7% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €705,278 | €664,777 | -€40,500 | -5.7% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Tax-exempt reserves | 132 | €171,498 | - | -€171,498 | |
| Distributable reserves | 133 | €527,630 | €658,627 | +€130,997 | +24.8% |
| Profit (loss) carried forward | 14 | €89,298 | €89,298 | = | 0.0% |
| Amounts payable | 17/49 | €184,213 | €200,174 | +€15,960 | +8.7% |
| Amounts payable within one year | 42/48 | €184,213 | €200,174 | +€15,960 | +8.7% |
| Trade debts | 44 | €69,757 | €85,825 | +€16,068 | +23.0% |
| Suppliers | 440/4 | €69,757 | €85,825 | +€16,068 | +23.0% |
| Taxes, remuneration and social security | 45 | €48,069 | €54,404 | +€6,335 | +13.2% |
| Taxes | 450/3 | €17,146 | €38,302 | +€21,156 | +123.4% |
| Remuneration and social security | 454/9 | €30,923 | €16,102 | -€14,821 | -47.9% |
| Other amounts payable | 47/48 | €66,388 | €59,945 | -€6,443 | -9.7% |
| Remuneration, social security and pensions | 62 | €216,290 | €124,242 | -€92,048 | -42.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,950 | €14,200 | -€5,750 | -28.8% |
| Other operating charges | 640/8 | €1,763 | €1,609 | -€154 | -8.8% |
| Gross operating margin | 9900 | €351,957 | €185,916 | -€166,041 | -47.2% |
| Operating profit (loss) | 9901 | €113,954 | €45,866 | -€68,088 | -59.8% |
| Financial income | 75/76B | €4,666 | €5,739 | +€1,073 | +23.0% |
| Recurring financial income | 75 | €4,666 | €5,739 | +€1,073 | +23.0% |
| Financial charges | 65/66B | €3,990 | €3,602 | -€388 | -9.7% |
| Recurring financial charges | 65 | €3,990 | €3,602 | -€388 | -9.7% |
| Profit (loss) for the period before taxes | 9903 | €114,630 | €48,003 | -€66,627 | -58.1% |
| Income taxes | 67/77 | €40,201 | €28,818 | -€11,383 | -28.3% |
| Profit (loss) for the period | 9904 | €74,429 | €19,185 | -€55,244 | -74.2% |
| Transfer from tax-exempt reserves | 789 | - | €126,300 | +€126,300 | |
| Profit (loss) for the period to be appropriated | 9905 | €74,429 | €145,485 | +€71,056 | +95.5% |
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 10 October 2026 via checked.be.