MARTENS CONSTRUCTIES: 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.
What changed
MARTENS CONSTRUCTIES
NACE 41.003, General construction of other non-residential buildings
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€113,284
2024 · €2.0m-€1.9m
Equity
€5.6m
2024 · €6.5m-€886,716
Cash
€4.9m
2024 · €6.7m-€1.9m
Balance sheet total
€8.3m
2024 · €9.9m-€1.6m
Largest movements
Assets
- Cash -€1.9m
down €1.9m (-27.7%), from €6.7m to €4.9m
mainly Contributions, distributions and other (-€1.0m) and Other debts (-€778,800)
- Receivables within one year +€563,118
up €563,118 (+42.4%), from €1.3m to €1.9m
of which Trade receivables: +€534,347
- Current investments -€488,000
down €488,000 (-45.5%), from €1.1m to €584,313
- Stocks and contracts +€264,221
up €264,221 (+218%), from €121,179 to €385,400
of which Contracts in progress: +€259,100
Equity and liabilities
- Reserves -€886,716
down €886,716 (-13.9%), from €6.4m to €5.5m
of which Distributable reserves: -€883,899
- Other debts -€778,800
down €778,800 (-43.8%), from €1.8m to €1.0m
- Trade debts +€156,517
up €156,517 (+26.2%), from €597,031 to €753,548
Income statement
- Turnover -€4.2m
down €4.2m (-30.3%), from €14.0m to €9.8m
- Goods and materials -€1.6m
down €1.6m (-23.4%), from €7.0m to €5.4m
of which Purchases: -€1.6m
- Taxes -€353,394
down €353,394 (-87.2%), from €405,233 to €51,839
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.
Result 2024
€2.0m
Turnover
-€4.2m
Other operating income
+€12,673
Goods and materials
+€1.6m
Services and other goods
-€123,067
Staff costs
+€90,457
Depreciation
-€5,241
Other operating charges
+€338
Other operating items
+€322,132
Financial income
+€15,458
Financial charges
-€865
Taxes
+€353,394
Deferred taxes and other
-€189
Result 2025
€113,284
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€1.1m
Investment
+€242,389
Financing
-€1.0m
Cash 2024
€6.7m
From operations (derived)
-€1.1m
Net result for the year
+€113,284
Depreciation
+€304,959
Stocks and contracts
-€264,221
Receivables within one year
-€563,118
Deferred charges and accrued income
-€17,547
Provisions
-€1,183
Trade debts
+€156,517
Tax, wage and social debts
-€52,597
Other debts
-€778,800
Accrued charges and deferred income
-€4,510
Investment (derived)
+€242,389
Investment in fixed assets (net)
-€245,611
Current investments
+€488,000
Financing
-€1.0m
Contributions, distributions and other
-€1.0m
Cash 2025
€4.9m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,852,261 | €8,284,972 | -€1.6m | -15.9% |
| Fixed assets | 21/28 | €598,808 | €539,459 | -€59,349 | -9.9% |
| Tangible fixed assets | 22/27 | €598,808 | €539,459 | -€59,349 | -9.9% |
| Plant, machinery and equipment | 23 | €254,995 | €185,229 | -€69,766 | -27.4% |
| Furniture and vehicles | 24 | €343,813 | €354,230 | +€10,417 | +3.0% |
| Current assets | 29/58 | €9,253,453 | €7,745,513 | -€1.5m | -16.3% |
| Stocks and contracts in progress | 3 | €121,179 | €385,400 | +€264,221 | +218% |
| Stocks | 30/36 | €115,879 | €121,000 | +€5,121 | +4.4% |
| Raw materials and consumables | 30/31 | €115,879 | - | -€115,879 | |
| Goods purchased for resale | 34 | - | €121,000 | +€121,000 | |
| Contracts in progress | 37 | €5,300 | €264,400 | +€259,100 | +4,889% |
| Amounts receivable within one year | 40/41 | €1,328,381 | €1,891,499 | +€563,118 | +42.4% |
| Trade receivables | 40 | €1,147,495 | €1,681,842 | +€534,347 | +46.6% |
| Other amounts receivable | 41 | €180,886 | €209,657 | +€28,770 | +15.9% |
| Current investments | 50/53 | €1,072,313 | €584,313 | -€488,000 | -45.5% |
| Other investments | 51/53 | €1,072,313 | €584,313 | -€488,000 | -45.5% |
| Cash at bank and in hand | 54/58 | €6,731,581 | €4,866,755 | -€1.9m | -27.7% |
| Deferred charges and accrued income | 490/1 | - | €17,547 | +€17,547 | |
| Total equity and liabilities | 10/49 | €9,852,261 | €8,284,972 | -€1.6m | -15.9% |
| Equity | 10/15 | €6,510,567 | €5,623,851 | -€886,716 | -13.6% |
| Contributions | 10/11 | €138,084 | €138,084 | = | 0.0% |
| Capital | 10 | €138,084 | €138,084 | = | 0.0% |
| Issued capital | 100 | €138,084 | €138,084 | = | 0.0% |
| Reserves | 13 | €6,372,484 | €5,485,768 | -€886,716 | -13.9% |
| Non-distributable reserves | 130/1 | €13,808 | €13,808 | = | 0.0% |
| Legal reserve | 130 | €13,808 | €13,808 | = | 0.0% |
| Tax-exempt reserves | 132 | €45,630 | €42,813 | -€2,817 | -6.2% |
| Distributable reserves | 133 | €6,313,045 | €5,429,146 | -€883,899 | -14.0% |
| Provisions and deferred taxes | 16 | €3,919 | €2,736 | -€1,183 | -30.2% |
| Deferred taxes | 168 | €3,919 | €2,736 | -€1,183 | -30.2% |
| Amounts payable | 17/49 | €3,337,775 | €2,658,385 | -€679,390 | -20.4% |
| Amounts payable within one year | 42/48 | €2,633,345 | €1,958,466 | -€674,879 | -25.6% |
| Trade debts | 44 | €597,031 | €753,548 | +€156,517 | +26.2% |
| Suppliers | 440/4 | €597,031 | €753,548 | +€156,517 | +26.2% |
| Taxes, remuneration and social security | 45 | €257,515 | €204,918 | -€52,597 | -20.4% |
| Taxes | 450/3 | €33,259 | €30,027 | -€3,232 | -9.7% |
| Remuneration and social security | 454/9 | €224,256 | €174,891 | -€49,365 | -22.0% |
| Other amounts payable | 47/48 | €1,778,800 | €1,000,000 | -€778,800 | -43.8% |
| Accrued charges and deferred income | 492/3 | €704,429 | €699,919 | -€4,510 | -0.6% |
| Operating income | 70/76A | €14,027,413 | €10,121,400 | -€3.9m | -27.8% |
| Turnover | 70 | €14,001,059 | €9,760,241 | -€4.2m | -30.3% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€66,000 | €259,100 | +€325,100 | |
| Other operating income | 74 | €85,253 | €97,927 | +€12,673 | +14.9% |
| Non-recurring operating income | 76A | €7,100 | €4,132 | -€2,968 | -41.8% |
| Operating charges | 60/66A | €11,649,512 | €10,044,344 | -€1.6m | -13.8% |
| Goods for resale, raw materials and consumables | 60 | €7,017,328 | €5,374,647 | -€1.6m | -23.4% |
| Purchases | 600/8 | €7,015,417 | €5,379,768 | -€1.6m | -23.3% |
| Change in stocks: decrease (increase) | 609 | €1,911 | -€5,121 | -€7,032 | |
| Services and other goods | 61 | €2,018,900 | €2,141,967 | +€123,067 | +6.1% |
| Remuneration, social security and pensions | 62 | €2,293,492 | €2,203,035 | -€90,457 | -3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €299,718 | €304,959 | +€5,241 | +1.7% |
| Other operating charges | 640/8 | €20,074 | €19,736 | -€338 | -1.7% |
| Operating profit (loss) | 9901 | €2,377,901 | €77,056 | -€2.3m | -96.8% |
| Financial income | 75/76B | €73,492 | €88,950 | +€15,458 | +21.0% |
| Recurring financial income | 75 | €73,492 | €88,950 | +€15,458 | +21.0% |
| Income from financial fixed assets | 750 | - | €0 | = | |
| Income from current assets | 751 | €32,049 | €64,434 | +€32,386 | +101% |
| Other financial income | 752/9 | €41,443 | €24,516 | -€16,928 | -40.8% |
| Financial charges | 65/66B | €1,201 | €2,066 | +€865 | +72.0% |
| Recurring financial charges | 65 | €1,201 | €2,066 | +€865 | +72.0% |
| Debt charges | 650 | - | €48 | +€48 | |
| Other financial charges | 652/9 | €1,201 | €2,019 | +€817 | +68.0% |
| Profit (loss) for the period before taxes | 9903 | €2,450,191 | €163,939 | -€2.3m | -93.3% |
| Transfer from deferred taxes | 780 | €1,373 | €1,183 | -€189 | -13.8% |
| Income taxes | 67/77 | €405,233 | €51,839 | -€353,394 | -87.2% |
| Taxes | 670/3 | €405,233 | €51,839 | -€353,394 | -87.2% |
| Profit (loss) for the period | 9904 | €2,046,331 | €113,284 | -€1.9m | -94.5% |
| Transfer from tax-exempt reserves | 789 | €3,267 | €2,817 | -€451 | -13.8% |
| Profit (loss) for the period to be appropriated | 9905 | €2,049,599 | €116,101 | -€1.9m | -94.3% |
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 15 October 2026 via checked.be.