MARTENS MK: 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 MK
Largest movements
- Cash -€6,716
down €6,716 (-45.3%), from €14,824 to €8,108
mainly Investment in fixed assets (net) (-€11,594) and Net result for the year (-€3,136)
- Current investments +€2,682
up €2,682 (+2.1%), from €126,178 to €128,860
- Tangible fixed assets +€2,217
up €2,217 (+7.5%), from €29,380 to €31,597
of which Furniture and vehicles: +€1,561
- Reserves -€11,860
down €11,860 (-8.7%), from €135,960 to €124,100
of which Distributable reserves: -€10,000
- Profit (loss) carried forward +€8,724
up €8,724 (+815%), from €1,071 to €9,794
- Other debts +€2,924
up €2,924 (+27.7%), from €10,567 to €13,491
- Financial income +€3,134
up €3,134 (+695%), from €451 to €3,585
- Staff costs -€3,123
down €3,123 (-36.3%), from €8,598 to €5,475
- Gross operating margin +€1,268
up €1,268 (+8.8%), from €14,432 to €15,700
- Financial charges +€1,057
new in 2025: €1,057
- Other operating charges +€803
up €803 (+14.1%), from €5,708 to €6,512
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 | €172,888 | €171,210 | -€1,678 | -1.0% |
| Fixed assets | 21/28 | €29,380 | €31,597 | +€2,217 | +7.5% |
| Tangible fixed assets | 22/27 | €29,380 | €31,597 | +€2,217 | +7.5% |
| Land and buildings | 22 | €27,913 | €28,759 | +€846 | +3.0% |
| Plant, machinery and equipment | 23 | €1,467 | €1,278 | -€190 | -12.9% |
| Furniture and vehicles | 24 | - | €1,561 | +€1,561 | |
| Current assets | 29/58 | €143,508 | €139,613 | -€3,895 | -2.7% |
| Amounts receivable within one year | 40/41 | €2,506 | €2,645 | +€139 | +5.5% |
| Trade receivables | 40 | €2,506 | €2,645 | +€139 | +5.5% |
| Current investments | 50/53 | €126,178 | €128,860 | +€2,682 | +2.1% |
| Cash at bank and in hand | 54/58 | €14,824 | €8,108 | -€6,716 | -45.3% |
| Total equity and liabilities | 10/49 | €172,888 | €171,210 | -€1,678 | -1.0% |
| Equity | 10/15 | €155,630 | €152,494 | -€3,136 | -2.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €135,960 | €124,100 | -€11,860 | -8.7% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Tax-exempt reserves | 132 | €44,100 | €44,100 | = | 0.0% |
| Distributable reserves | 133 | €90,000 | €80,000 | -€10,000 | -11.1% |
| Profit (loss) carried forward | 14 | €1,071 | €9,794 | +€8,724 | +815% |
| Amounts payable | 17/49 | €17,258 | €18,716 | +€1,458 | +8.4% |
| Amounts payable within one year | 42/48 | €13,808 | €15,635 | +€1,827 | +13.2% |
| Trade debts | 44 | €1,329 | €1,270 | -€58 | -4.4% |
| Suppliers | 440/4 | €1,329 | €1,270 | -€58 | -4.4% |
| Taxes, remuneration and social security | 45 | €1,912 | €874 | -€1,039 | -54.3% |
| Taxes | 450/3 | €936 | €874 | -€62 | -6.7% |
| Remuneration and social security | 454/9 | €976 | - | -€976 | |
| Other amounts payable | 47/48 | €10,567 | €13,491 | +€2,924 | +27.7% |
| Accrued charges and deferred income | 492/3 | €3,450 | €3,082 | -€369 | -10.7% |
| Remuneration, social security and pensions | 62 | €8,598 | €5,475 | -€3,123 | -36.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,122 | €9,377 | +€255 | +2.8% |
| Other operating charges | 640/8 | €5,708 | €6,512 | +€803 | +14.1% |
| Gross operating margin | 9900 | €14,432 | €15,700 | +€1,268 | +8.8% |
| Operating profit (loss) | 9901 | -€8,997 | -€5,664 | +€3,333 | +37.0% |
| Financial income | 75/76B | €451 | €3,585 | +€3,134 | +695% |
| Recurring financial income | 75 | €451 | €3,585 | +€3,134 | +695% |
| Financial charges | 65/66B | - | €1,057 | +€1,057 | |
| Recurring financial charges | 65 | - | €1,057 | +€1,057 | |
| Profit (loss) for the period before taxes | 9903 | -€8,546 | -€3,136 | +€5,409 | +63.3% |
| Income taxes | 67/77 | €674 | - | -€674 | |
| Profit (loss) for the period | 9904 | -€9,219 | -€3,136 | +€6,083 | +66.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,219 | -€3,136 | +€6,083 | +66.0% |
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 25 October 2026 via checked.be.