Martens Elec: 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 Elec
Largest movements
- Receivables within one year +€86,172
up €86,172 (+339%), from €25,390 to €111,561
of which Trade receivables: +€72,619
- Cash +€43,535
up €43,535 (+9,001%), from €484 to €44,019
mainly Net result for the year (+€101,468) and Tax, wage and social debts (+€33,941)
- Tangible fixed assets +€10,116
up €10,116 (+2,731%), from €370 to €10,486
- Deferred charges and accrued income -€2,752
down €2,752 (-86.8%), from €3,169 to €417
- Profit (loss) carried forward +€101,468
up €101,468 (+2,612%), from €3,884 to €105,352
- Tax, wage and social debts +€33,941
up €33,941 (+551%), from €6,155 to €40,097
of which Taxes: +€34,123
- Trade debts +€14,874
up €14,874 (+108%), from €13,775 to €28,650
- Other debts -€14,287
down €14,287 (-99.5%), from €14,362 to €75
- Gross operating margin +€138,284
up €138,284 (+184%), from €75,070 to €213,355
- Taxes +€28,881
up €28,881 (+2,251%), from €1,283 to €30,165
- Staff costs +€10,494
up €10,494 (+15.3%), from €68,608 to €79,102
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 | €44,243 | €180,483 | +€136,241 | +308% |
| Fixed assets | 21/28 | €370 | €10,486 | +€10,116 | +2,731% |
| Tangible fixed assets | 22/27 | €370 | €10,486 | +€10,116 | +2,731% |
| Furniture and vehicles | 24 | €370 | €10,486 | +€10,116 | +2,731% |
| Current assets | 29/58 | €43,872 | €169,997 | +€126,125 | +287% |
| Stocks and contracts in progress | 3 | €14,830 | €14,000 | -€830 | -5.6% |
| Stocks | 30/36 | €14,830 | €14,000 | -€830 | -5.6% |
| Amounts receivable within one year | 40/41 | €25,390 | €111,561 | +€86,172 | +339% |
| Trade receivables | 40 | €23,340 | €95,959 | +€72,619 | +311% |
| Other amounts receivable | 41 | €2,050 | €15,602 | +€13,552 | +661% |
| Cash at bank and in hand | 54/58 | €484 | €44,019 | +€43,535 | +9,001% |
| Deferred charges and accrued income | 490/1 | €3,169 | €417 | -€2,752 | -86.8% |
| Total equity and liabilities | 10/49 | €44,243 | €180,483 | +€136,241 | +308% |
| Equity | 10/15 | €8,934 | €110,402 | +€101,468 | +1,136% |
| Contributions | 10/11 | €5,050 | €5,050 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,884 | €105,352 | +€101,468 | +2,612% |
| Amounts payable | 17/49 | €35,309 | €70,081 | +€34,773 | +98.5% |
| Amounts payable within one year | 42/48 | €35,309 | €70,081 | +€34,773 | +98.5% |
| Financial debts | 43 | €516 | €1,260 | +€744 | +144% |
| Credit institutions | 430/8 | €516 | €1,260 | +€744 | +144% |
| Trade debts | 44 | €13,775 | €28,650 | +€14,874 | +108% |
| Suppliers | 440/4 | €13,775 | €28,650 | +€14,874 | +108% |
| Advances received on contracts in progress | 46 | €500 | - | -€500 | |
| Taxes, remuneration and social security | 45 | €6,155 | €40,097 | +€33,941 | +551% |
| Taxes | 450/3 | €1,497 | €35,620 | +€34,123 | +2,280% |
| Remuneration and social security | 454/9 | €4,659 | €4,477 | -€182 | -3.9% |
| Other amounts payable | 47/48 | €14,362 | €75 | -€14,287 | -99.5% |
| Remuneration, social security and pensions | 62 | €68,608 | €79,102 | +€10,494 | +15.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1,041 | +€1,041 | |
| Other operating charges | 640/8 | €1,131 | €1,455 | +€323 | +28.6% |
| Gross operating margin | 9900 | €75,070 | €213,355 | +€138,284 | +184% |
| Operating profit (loss) | 9901 | €5,331 | €131,757 | +€126,426 | +2,371% |
| Financial income | 75/76B | - | €11 | +€11 | |
| Recurring financial income | 75 | - | €11 | +€11 | |
| Financial charges | 65/66B | €164 | €136 | -€28 | -16.9% |
| Recurring financial charges | 65 | €164 | €136 | -€28 | -16.9% |
| Profit (loss) for the period before taxes | 9903 | €5,168 | €131,633 | +€126,465 | +2,447% |
| Income taxes | 67/77 | €1,283 | €30,165 | +€28,881 | +2,251% |
| Profit (loss) for the period | 9904 | €3,884 | €101,468 | +€97,584 | +2,512% |
| Profit (loss) for the period to be appropriated | 9905 | €3,884 | €101,468 | +€97,584 | +2,512% |
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 30 October 2026 via checked.be.