MARTENS CONSULTANCY: 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 CONSULTANCY
Largest movements
- Tangible fixed assets +€1.1m
up €1.1m (+134%), from €801,937 to €1.9m
of which Land and buildings: +€1.1m
- Cash -€248,502
down €248,502 (-68.3%), from €363,600 to €115,098
mainly Investment in fixed assets (net) (-€1.1m) and Net result for the year (-€236,827)
- Receivables within one year -€224,233
down €224,233 (-87.4%), from €256,580 to €32,347
of which Other amounts receivable: -€217,682
- Debts after one year +€559,418
new in 2025: €559,418
- Profit (loss) carried forward -€236,827
down €236,827 (-12.3%), from €1.9m to €1.7m
- Other debts +€164,356
up €164,356 (+27.1%), from €606,830 to €771,186
- Gross operating margin -€103,912
down €103,912, from €27,450 to -€76,462
- Other operating charges +€40,571
up €40,571 (+249%), from €16,304 to €56,875
- Depreciation +€19,331
up €19,331 (+38.6%), from €50,046 to €69,377
- Financial charges +€5,042
up €5,042 (+9.7%), from €52,084 to €57,126
- Financial income +€2,128
up €2,128 (+10.2%), from €20,885 to €23,013
of which Non-recurring financial income: +€22,177
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 | €5,084,352 | €5,646,143 | +€561,791 | +11.0% |
| Fixed assets | 21/28 | €3,445,329 | €4,522,810 | +€1.1m | +31.3% |
| Tangible fixed assets | 22/27 | €801,937 | €1,879,419 | +€1.1m | +134% |
| Land and buildings | 22 | €798,164 | €1,877,172 | +€1.1m | +135% |
| Plant, machinery and equipment | 23 | €3,773 | €2,247 | -€1,527 | -40.5% |
| Financial fixed assets | 28 | €2,643,392 | €2,643,392 | = | 0.0% |
| Current assets | 29/58 | €1,639,023 | €1,123,332 | -€515,690 | -31.5% |
| Amounts receivable after more than one year | 29 | €990,000 | €969,760 | -€20,240 | -2.0% |
| Other amounts receivable | 291 | €990,000 | €969,760 | -€20,240 | -2.0% |
| Amounts receivable within one year | 40/41 | €256,580 | €32,347 | -€224,233 | -87.4% |
| Trade receivables | 40 | €32,618 | €26,067 | -€6,551 | -20.1% |
| Other amounts receivable | 41 | €223,962 | €6,280 | -€217,682 | -97.2% |
| Cash at bank and in hand | 54/58 | €363,600 | €115,098 | -€248,502 | -68.3% |
| Deferred charges and accrued income | 490/1 | €28,842 | €6,127 | -€22,715 | -78.8% |
| Total equity and liabilities | 10/49 | €5,084,352 | €5,646,143 | +€561,791 | +11.0% |
| Equity | 10/15 | €4,348,848 | €4,112,021 | -€236,827 | -5.4% |
| Contributions | 10/11 | €1,500,000 | €1,500,000 | = | 0.0% |
| Reserves | 13 | €920,558 | €920,558 | = | 0.0% |
| Tax-exempt reserves | 132 | €11,340 | €11,340 | = | 0.0% |
| Distributable reserves | 133 | €909,219 | €909,219 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,928,290 | €1,691,463 | -€236,827 | -12.3% |
| Amounts payable | 17/49 | €735,504 | €1,534,121 | +€798,617 | +109% |
| Amounts payable after more than one year | 17 | - | €559,418 | +€559,418 | |
| Financial debts | 170/4 | - | €559,418 | +€559,418 | |
| Amounts payable within one year | 42/48 | €687,552 | €926,232 | +€238,679 | +34.7% |
| Current portion of amounts payable after more than one year | 42 | - | €32,575 | +€32,575 | |
| Trade debts | 44 | €63,371 | €62,837 | -€534 | -0.8% |
| Suppliers | 440/4 | €63,371 | €62,837 | -€534 | -0.8% |
| Taxes, remuneration and social security | 45 | €17,351 | €59,634 | +€42,283 | +244% |
| Taxes | 450/3 | €17,351 | €59,634 | +€42,283 | +244% |
| Other amounts payable | 47/48 | €606,830 | €771,186 | +€164,356 | +27.1% |
| Accrued charges and deferred income | 492/3 | €47,952 | €48,472 | +€520 | +1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,046 | €69,377 | +€19,331 | +38.6% |
| Other operating charges | 640/8 | €16,304 | €56,875 | +€40,571 | +249% |
| Gross operating margin | 9900 | €27,450 | -€76,462 | -€103,912 | |
| Operating profit (loss) | 9901 | -€38,900 | -€202,714 | -€163,814 | -421% |
| Financial income | 75/76B | €20,885 | €23,013 | +€2,128 | +10.2% |
| Recurring financial income | 75 | €20,885 | €837 | -€20,049 | -96.0% |
| Non-recurring financial income | 76B | - | €22,177 | +€22,177 | |
| Financial charges | 65/66B | €52,084 | €57,126 | +€5,042 | +9.7% |
| Recurring financial charges | 65 | €52,084 | €57,126 | +€5,042 | +9.7% |
| Profit (loss) for the period before taxes | 9903 | -€70,098 | -€236,827 | -€166,728 | -238% |
| Income taxes | 67/77 | €655 | - | -€655 | |
| Profit (loss) for the period | 9904 | -€70,754 | -€236,827 | -€166,073 | -235% |
| Profit (loss) for the period to be appropriated | 9905 | -€70,754 | -€236,827 | -€166,073 | -235% |
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 1 November 2026 via checked.be.