MARTENS-MARULINA: what changed
MARTENS-MARULINA
Largest movements
- Tangible fixed assets -€36,152
down €36,152 (-14.0%), from €257,314 to €221,162
of which Land and buildings: -€30,914
- Cash +€28,282
up €28,282 (+701%), from €4,035 to €32,317
mainly Depreciation (+€37,665) and Net result for the year (+€23,063)
- Receivables within one year +€11,729
up €11,729 (+27.4%), from €42,846 to €54,574
of which Other amounts receivable: +€11,849
- Current investments -€10,000
down €10,000 (-100%), from €10,000 to €0
- Debts after one year -€31,151
down €31,151 (-25.5%), from €122,365 to €91,214
- Reserves +€23,063
up €23,063 (+16.9%), from €136,731 to €159,794
- Financial income +€4,371
up €4,371 (+298%), from €1,466 to €5,837
- Depreciation +€4,300
up €4,300 (+12.9%), from €33,365 to €37,665
- Gross operating margin +€4,073
up €4,073 (+5.4%), from €75,015 to €79,089
- Taxes +€2,290
up €2,290 (+20.6%), from €11,112 to €13,402
- Financial charges -€2,281
down €2,281 (-24.2%), from €9,435 to €7,154
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €314,195 | €308,053 | -€6,142 | -2.0% |
| Fixed assets | 21/28 | €257,314 | €221,162 | -€36,152 | -14.0% |
| Tangible fixed assets | 22/27 | €257,314 | €221,162 | -€36,152 | -14.0% |
| Land and buildings | 22 | €229,256 | €198,342 | -€30,914 | -13.5% |
| Plant, machinery and equipment | 23 | €5,797 | €5,049 | -€748 | -12.9% |
| Furniture and vehicles | 24 | €22,261 | €17,771 | -€4,490 | -20.2% |
| Current assets | 29/58 | €56,881 | €86,891 | +€30,010 | +52.8% |
| Amounts receivable within one year | 40/41 | €42,846 | €54,574 | +€11,729 | +27.4% |
| Trade receivables | 40 | €10,100 | €9,980 | -€120 | -1.2% |
| Other amounts receivable | 41 | €32,745 | €44,594 | +€11,849 | +36.2% |
| Current investments | 50/53 | €10,000 | €0 | -€10,000 | -100% |
| Cash at bank and in hand | 54/58 | €4,035 | €32,317 | +€28,282 | +701% |
| Total equity and liabilities | 10/49 | €314,195 | €308,053 | -€6,142 | -2.0% |
| Equity | 10/15 | €142,931 | €165,994 | +€23,063 | +16.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €136,731 | €159,794 | +€23,063 | +16.9% |
| Distributable reserves | 133 | €136,731 | €159,794 | +€23,063 | +16.9% |
| Provisions and deferred taxes | 16 | €10,000 | €10,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €10,000 | €10,000 | = | 0.0% |
| Pensions and similar obligations | 160 | €10,000 | €10,000 | = | 0.0% |
| Amounts payable | 17/49 | €161,264 | €132,059 | -€29,205 | -18.1% |
| Amounts payable after more than one year | 17 | €122,365 | €91,214 | -€31,151 | -25.5% |
| Financial debts | 170/4 | €122,365 | €91,214 | -€31,151 | -25.5% |
| Amounts payable within one year | 42/48 | €38,773 | €40,718 | +€1,944 | +5.0% |
| Current portion of amounts payable after more than one year | 42 | €28,880 | €30,919 | +€2,040 | +7.1% |
| Financial debts | 43 | €8,957 | €8,904 | -€53 | -0.6% |
| Credit institutions | 430/8 | €8,957 | €8,904 | -€53 | -0.6% |
| Trade debts | 44 | €936 | €894 | -€42 | -4.5% |
| Suppliers | 440/4 | €936 | €894 | -€42 | -4.5% |
| Accrued charges and deferred income | 492/3 | €126 | €128 | +€2 | +1.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,365 | €37,665 | +€4,300 | +12.9% |
| Other operating charges | 640/8 | €3,490 | €3,642 | +€152 | +4.4% |
| Gross operating margin | 9900 | €75,015 | €79,089 | +€4,073 | +5.4% |
| Operating profit (loss) | 9901 | €38,161 | €37,782 | -€379 | -1.0% |
| Financial income | 75/76B | €1,466 | €5,837 | +€4,371 | +298% |
| Recurring financial income | 75 | €1,466 | €5,837 | +€4,371 | +298% |
| Financial charges | 65/66B | €9,435 | €7,154 | -€2,281 | -24.2% |
| Recurring financial charges | 65 | €9,435 | €7,154 | -€2,281 | -24.2% |
| Profit (loss) for the period before taxes | 9903 | €30,192 | €36,465 | +€6,273 | +20.8% |
| Income taxes | 67/77 | €11,112 | €13,402 | +€2,290 | +20.6% |
| Profit (loss) for the period | 9904 | €19,080 | €23,063 | +€3,983 | +20.9% |
| Profit (loss) for the period to be appropriated | 9905 | €19,080 | €23,063 | +€3,983 | +20.9% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 October 2024 and 31 October 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.