MARTENS PASCAL: 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 PASCAL
Largest movements
- Receivables within one year -€10,144
down €10,144 (-48.4%), from €20,953 to €10,809
of which Trade receivables: -€8,055
- Tangible fixed assets -€2,137
down €2,137 (-9.1%), from €23,442 to €21,305
of which Furniture and vehicles: -€5,751
- Debts after one year -€7,099
down €7,099 (-66.1%), from €10,745 to €3,646
- Trade debts -€2,589
down €2,589 (-14.0%), from €18,552 to €15,963
- Gross operating margin +€6,913
up €6,913 (+148.6%), from €4,653 to €11,566
- Other operating charges -€2,545
down €2,545 (-68.2%), from €3,734 to €1,188
- Financial charges -€760
down €760 (-34.9%), from €2,179 to €1,419
- Depreciation +€501
up €501 (+6.0%), from €8,344 to €8,846
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 | €156,374 | €146,374 | -€10,000 | -6.4% |
| Fixed assets | 21/28 | €23,442 | €21,305 | -€2,137 | -9.1% |
| Tangible fixed assets | 22/27 | €23,442 | €21,305 | -€2,137 | -9.1% |
| Land and buildings | 22 | €3,447 | €2,439 | -€1,009 | -29.3% |
| Plant, machinery and equipment | 23 | €666 | €5,289 | +€4,623 | +694.4% |
| Furniture and vehicles | 24 | €19,329 | €13,578 | -€5,751 | -29.8% |
| Current assets | 29/58 | €132,932 | €125,068 | -€7,863 | -5.9% |
| Stocks and contracts in progress | 3 | €54,380 | €55,880 | +€1,500 | +2.8% |
| Stocks | 30/36 | €54,380 | €55,880 | +€1,500 | +2.8% |
| Amounts receivable within one year | 40/41 | €20,953 | €10,809 | -€10,144 | -48.4% |
| Trade receivables | 40 | €18,864 | €10,809 | -€8,055 | -42.7% |
| Other amounts receivable | 41 | €2,089 | €0 | -€2,089 | -100.0% |
| Cash at bank and in hand | 54/58 | €56,217 | €55,537 | -€680 | -1.2% |
| Deferred charges and accrued income | 490/1 | €1,382 | €2,843 | +€1,461 | +105.7% |
| Total equity and liabilities | 10/49 | €156,374 | €146,374 | -€10,000 | -6.4% |
| Equity | 10/15 | €107,363 | €107,476 | +€114 | +0.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €101,163 | €101,276 | +€114 | +0.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €12,933 | €12,933 | = | 0.0% |
| Distributable reserves | 133 | €88,230 | €88,344 | +€114 | +0.1% |
| Amounts payable | 17/49 | €49,011 | €38,897 | -€10,114 | -20.6% |
| Amounts payable after more than one year | 17 | €10,745 | €3,646 | -€7,099 | -66.1% |
| Financial debts | 170/4 | €10,745 | €3,646 | -€7,099 | -66.1% |
| Amounts payable within one year | 42/48 | €37,029 | €34,445 | -€2,584 | -7.0% |
| Current portion of amounts payable after more than one year | 42 | €6,848 | €7,099 | +€251 | +3.7% |
| Trade debts | 44 | €18,552 | €15,963 | -€2,589 | -14.0% |
| Suppliers | 440/4 | €18,552 | €15,963 | -€2,589 | -14.0% |
| Taxes, remuneration and social security | 45 | €714 | €1,301 | +€586 | +82.1% |
| Taxes | 450/3 | €714 | €1,208 | +€494 | +69.2% |
| Remuneration and social security | 454/9 | €0 | €92 | +€92 | |
| Other amounts payable | 47/48 | €10,915 | €10,082 | -€833 | -7.6% |
| Accrued charges and deferred income | 492/3 | €1,237 | €806 | -€430 | -34.8% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,344 | €8,846 | +€501 | +6.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €3,734 | €1,188 | -€2,545 | -68.2% |
| Gross operating margin | 9900 | €4,653 | €11,566 | +€6,913 | +148.6% |
| Operating profit (loss) | 9901 | -€7,425 | €1,532 | +€8,957 | |
| Financial income | 75/76B | €3 | €0 | -€3 | -89.0% |
| Recurring financial income | 75 | €3 | €0 | -€3 | -89.0% |
| Financial charges | 65/66B | €2,179 | €1,419 | -€760 | -34.9% |
| Recurring financial charges | 65 | €2,179 | €1,419 | -€760 | -34.9% |
| Profit (loss) for the period before taxes | 9903 | -€9,601 | €114 | +€9,715 | |
| Profit (loss) for the period | 9904 | -€9,601 | €114 | +€9,715 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,601 | €114 | +€9,715 |
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.