MARTENS MARK: 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 MARK
Largest movements
- Tangible fixed assets +€7,160
up €7,160 (+11.4%), from €62,718 to €69,878
of which Other tangible fixed assets: +€13,260
- Receivables within one year -€5,462
down €5,462 (-39.2%), from €13,918 to €8,455
of which Trade receivables: -€3,816
- Cash +€5,379
up €5,379 (+123.3%), from €4,362 to €9,741
mainly Depreciation (+€22,409) and Other debts (+€8,730)
- Other debts +€8,730
up €8,730, from €0 to €8,730
- Tax, wage and social debts -€6,684
down €6,684 (-92.0%), from €7,264 to €580
- Profit (loss) carried forward +€3,779
up €3,779 (+30.0%), from -€12,585 to -€8,805
- Debts after one year +€3,234
up €3,234 (+19.5%), from €16,591 to €19,825
- Current portion of long-term debt -€1,338
down €1,338 (-7.9%), from €16,945 to €15,607
- Gross operating margin +€17,475
up €17,475 (+97.9%), from €17,844 to €35,319
- Depreciation -€5,557
down €5,557 (-19.9%), from €27,965 to €22,409
- Other operating charges +€928
up €928 (+53.6%), from €1,733 to €2,660
- Financial charges +€711
up €711 (+22.7%), from €3,129 to €3,841
- Write-downs +€644
new in 2025: €644
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 | €93,019 | €100,970 | +€7,951 | +8.5% |
| Fixed assets | 21/28 | €62,718 | €69,878 | +€7,160 | +11.4% |
| Tangible fixed assets | 22/27 | €62,718 | €69,878 | +€7,160 | +11.4% |
| Land and buildings | 22 | €15,044 | €0 | -€15,044 | -100.0% |
| Plant, machinery and equipment | 23 | €36,225 | €41,472 | +€5,247 | +14.5% |
| Furniture and vehicles | 24 | €10,017 | €13,714 | +€3,697 | +36.9% |
| Other tangible fixed assets | 26 | €1,432 | €14,692 | +€13,260 | +926.0% |
| Current assets | 29/58 | €30,300 | €31,092 | +€791 | +2.6% |
| Stocks and contracts in progress | 3 | €8,500 | €8,500 | = | 0.0% |
| Stocks | 30/36 | €8,500 | €8,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €13,918 | €8,455 | -€5,462 | -39.2% |
| Trade receivables | 40 | €7,497 | €3,681 | -€3,816 | -50.9% |
| Other amounts receivable | 41 | €6,420 | €4,774 | -€1,646 | -25.6% |
| Cash at bank and in hand | 54/58 | €4,362 | €9,741 | +€5,379 | +123.3% |
| Deferred charges and accrued income | 490/1 | €3,521 | €4,395 | +€874 | +24.8% |
| Total equity and liabilities | 10/49 | €93,019 | €100,970 | +€7,951 | +8.5% |
| Equity | 10/15 | €41,763 | €45,542 | +€3,779 | +9.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €41,947 | €41,947 | = | 0.0% |
| Distributable reserves | 133 | €41,947 | €41,947 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€12,585 | -€8,805 | +€3,779 | +30.0% |
| Amounts payable | 17/49 | €51,256 | €55,428 | +€4,172 | +8.1% |
| Amounts payable after more than one year | 17 | €16,591 | €19,825 | +€3,234 | +19.5% |
| Financial debts | 170/4 | €16,591 | €19,825 | +€3,234 | +19.5% |
| Amounts payable within one year | 42/48 | €34,476 | €35,187 | +€712 | +2.1% |
| Current portion of amounts payable after more than one year | 42 | €16,945 | €15,607 | -€1,338 | -7.9% |
| Trade debts | 44 | €10,267 | €10,270 | +€3 | 0.0% |
| Suppliers | 440/4 | €10,267 | €10,270 | +€3 | 0.0% |
| Taxes, remuneration and social security | 45 | €7,264 | €580 | -€6,684 | -92.0% |
| Taxes | 450/3 | €7,264 | €580 | -€6,684 | -92.0% |
| Other amounts payable | 47/48 | €0 | €8,730 | +€8,730 | |
| Accrued charges and deferred income | 492/3 | €190 | €416 | +€226 | +118.9% |
| Non-recurring operating income | 76A | - | €12,631 | +€12,631 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,965 | €22,409 | -€5,557 | -19.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €644 | +€644 | |
| Other operating charges | 640/8 | €1,733 | €2,660 | +€928 | +53.6% |
| Non-recurring operating charges | 66A | - | €1,893 | +€1,893 | |
| Gross operating margin | 9900 | €17,844 | €35,319 | +€17,475 | +97.9% |
| Operating profit (loss) | 9901 | -€11,854 | €7,713 | +€19,567 | |
| Financial income | 75/76B | €535 | €48 | -€487 | -91.1% |
| Recurring financial income | 75 | €535 | €48 | -€487 | -91.1% |
| Financial charges | 65/66B | €3,129 | €3,841 | +€711 | +22.7% |
| Recurring financial charges | 65 | €3,129 | €3,841 | +€711 | +22.7% |
| Profit (loss) for the period before taxes | 9903 | -€14,449 | €3,920 | +€18,369 | |
| Income taxes | 67/77 | €128 | €141 | +€13 | +10.1% |
| Profit (loss) for the period | 9904 | -€14,577 | €3,779 | +€18,356 | |
| Profit (loss) for the period to be appropriated | 9905 | -€14,577 | €3,779 | +€18,356 |
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 11 October 2026 via checked.be.