MARTHA1996: what changed
Two fiscal 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.
MARTHA1996
Largest movements
- Current investments +€516,336
up €516,336 (+1015.1%), from €50,866 to €567,202
- Cash -€476,427
down €476,427 (-96.9%), from €491,555 to €15,128
mainly Current investments (-€516,336) and Other debts (-€37,889)
- Receivables after one year -€124,158
down €124,158 (-19.9%), from €625,000 to €500,842
- Receivables within one year +€19,754
up €19,754 (+28.2%), from €70,155 to €89,910
of which Trade receivables: +€20,456
- Other debts -€37,889
down €37,889 (-69.9%), from €54,183 to €16,294
- Reserves -€26,387
down €26,387 (-1.8%), from €1.4m to €1.4m
- Financial income -€728,017
down €728,017 (-91.9%), from €791,804 to €63,787
- Taxes -€58,889
down €58,889 (-95.6%), from €61,596 to €2,707
- Gross operating margin -€34,642
down €34,642 (-353.0%), from -€9,812 to -€44,455
- Depreciation -€10,757
down €10,757 (-69.1%), from €15,566 to €4,808
- Financial charges +€2,014
up €2,014 (+37.2%), from €5,413 to €7,426
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 | €1,734,862 | €1,679,271 | -€55,591 | -3.2% |
| Fixed assets | 21/28 | €496,614 | €493,214 | -€3,400 | -0.7% |
| Tangible fixed assets | 22/27 | €15,332 | €11,432 | -€3,900 | -25.4% |
| Plant, machinery and equipment | 23 | €2,326 | €1,530 | -€796 | -34.2% |
| Furniture and vehicles | 24 | €2,999 | €1,455 | -€1,544 | -51.5% |
| Other tangible fixed assets | 26 | €10,007 | €8,447 | -€1,560 | -15.6% |
| Financial fixed assets | 28 | €481,282 | €481,782 | +€500 | +0.1% |
| Current assets | 29/58 | €1,238,248 | €1,186,057 | -€52,191 | -4.2% |
| Amounts receivable after more than one year | 29 | €625,000 | €500,842 | -€124,158 | -19.9% |
| Other amounts receivable | 291 | €625,000 | €500,842 | -€124,158 | -19.9% |
| Amounts receivable within one year | 40/41 | €70,155 | €89,910 | +€19,754 | +28.2% |
| Trade receivables | 40 | €40,419 | €60,875 | +€20,456 | +50.6% |
| Other amounts receivable | 41 | €29,736 | €29,034 | -€702 | -2.4% |
| Current investments | 50/53 | €50,866 | €567,202 | +€516,336 | +1015.1% |
| Cash at bank and in hand | 54/58 | €491,555 | €15,128 | -€476,427 | -96.9% |
| Deferred charges and accrued income | 490/1 | €671 | €12,975 | +€12,304 | +1833.0% |
| Total equity and liabilities | 10/49 | €1,734,862 | €1,679,271 | -€55,591 | -3.2% |
| Equity | 10/15 | €1,542,398 | €1,516,011 | -€26,387 | -1.7% |
| Reserves | 13 | €1,442,398 | €1,416,011 | -€26,387 | -1.8% |
| Distributable reserves | 133 | €1,442,398 | €1,416,011 | -€26,387 | -1.8% |
| Profit (loss) carried forward | 14 | €100,000 | €100,000 | = | 0.0% |
| Amounts payable | 17/49 | €192,464 | €163,261 | -€29,203 | -15.2% |
| Amounts payable after more than one year | 17 | €60,000 | €70,000 | +€10,000 | +16.7% |
| Other amounts payable | 178/9 | €60,000 | €70,000 | +€10,000 | +16.7% |
| Amounts payable within one year | 42/48 | €127,652 | €89,368 | -€38,284 | -30.0% |
| Trade debts | 44 | €1,509 | €513 | -€996 | -66.0% |
| Suppliers | 440/4 | €1,509 | €513 | -€996 | -66.0% |
| Advances received on contracts in progress | 46 | €9,611 | - | -€9,611 | |
| Taxes, remuneration and social security | 45 | €62,349 | €72,561 | +€10,212 | +16.4% |
| Taxes | 450/3 | €62,349 | €70,992 | +€8,643 | +13.9% |
| Remuneration and social security | 454/9 | - | €1,570 | +€1,570 | |
| Other amounts payable | 47/48 | €54,183 | €16,294 | -€37,889 | -69.9% |
| Accrued charges and deferred income | 492/3 | €4,812 | €3,892 | -€920 | -19.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,566 | €4,808 | -€10,757 | -69.1% |
| Other operating charges | 640/8 | €1,670 | €2,325 | +€654 | +39.2% |
| Gross operating margin | 9900 | -€9,812 | -€44,455 | -€34,642 | -353.0% |
| Operating profit (loss) | 9901 | -€27,049 | -€51,588 | -€24,539 | -90.7% |
| Financial income | 75/76B | €791,804 | €63,787 | -€728,017 | -91.9% |
| Recurring financial income | 75 | €791,804 | €63,787 | -€728,017 | -91.9% |
| Financial charges | 65/66B | €5,413 | €7,426 | +€2,014 | +37.2% |
| Recurring financial charges | 65 | €5,413 | €7,426 | +€2,014 | +37.2% |
| Profit (loss) for the period before taxes | 9903 | €759,342 | €4,773 | -€754,570 | -99.4% |
| Income taxes | 67/77 | €61,596 | €2,707 | -€58,889 | -95.6% |
| Profit (loss) for the period | 9904 | €697,747 | €2,066 | -€695,680 | -99.7% |
| Profit (loss) for the period to be appropriated | 9905 | €697,747 | €2,066 | -€695,680 | -99.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.