Marthe & Co: 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.
Marthe & Co
Largest movements
- Cash +€4,537
up €4,537 (+10.6%), from €42,762 to €47,300
mainly Net result for the year (+€33,953) and Other debts (+€10,932)
- Tangible fixed assets -€1,278
down €1,278 (-39.6%), from €3,223 to €1,945
- Other debts +€10,932
up €10,932 (+68.8%), from €15,889 to €26,821
- Tax, wage and social debts -€4,314
down €4,314 (-21.0%), from €20,509 to €16,196
- Reserves -€2,448
down €2,448 (-48.7%), from €5,027 to €2,579
- Trade debts -€1,049
down €1,049 (-72.4%), from €1,448 to €399
- Gross operating margin +€15,230
up €15,230 (+48.7%), from €31,245 to €46,475
- Taxes +€2,968
up €2,968 (+39.4%), from €7,525 to €10,493
- Depreciation +€667
up €667 (+109%), from €611 to €1,278
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 | €46,873 | €49,994 | +€3,121 | +6.7% |
| Fixed assets | 21/28 | €3,223 | €1,945 | -€1,278 | -39.6% |
| Tangible fixed assets | 22/27 | €3,223 | €1,945 | -€1,278 | -39.6% |
| Furniture and vehicles | 24 | €3,223 | €1,945 | -€1,278 | -39.6% |
| Current assets | 29/58 | €43,650 | €48,050 | +€4,399 | +10.1% |
| Amounts receivable within one year | 40/41 | €888 | €750 | -€138 | -15.6% |
| Trade receivables | 40 | - | €750 | +€750 | |
| Other amounts receivable | 41 | €888 | - | -€888 | |
| Cash at bank and in hand | 54/58 | €42,762 | €47,300 | +€4,537 | +10.6% |
| Total equity and liabilities | 10/49 | €46,873 | €49,994 | +€3,121 | +6.7% |
| Equity | 10/15 | €9,027 | €6,579 | -€2,448 | -27.1% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €5,027 | €2,579 | -€2,448 | -48.7% |
| Distributable reserves | 133 | €5,027 | €2,579 | -€2,448 | -48.7% |
| Amounts payable | 17/49 | €37,846 | €43,416 | +€5,570 | +14.7% |
| Amounts payable within one year | 42/48 | €37,846 | €43,416 | +€5,570 | +14.7% |
| Trade debts | 44 | €1,448 | €399 | -€1,049 | -72.4% |
| Suppliers | 440/4 | €1,448 | €399 | -€1,049 | -72.4% |
| Taxes, remuneration and social security | 45 | €20,509 | €16,196 | -€4,314 | -21.0% |
| Taxes | 450/3 | €20,509 | €16,196 | -€4,314 | -21.0% |
| Other amounts payable | 47/48 | €15,889 | €26,821 | +€10,932 | +68.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €611 | €1,278 | +€667 | +109% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €31,245 | €46,475 | +€15,230 | +48.7% |
| Operating profit (loss) | 9901 | €30,246 | €44,798 | +€14,551 | +48.1% |
| Financial income | 75/76B | €12 | - | -€12 | |
| Recurring financial income | 75 | €12 | - | -€12 | |
| Financial charges | 65/66B | €212 | €352 | +€140 | +66.1% |
| Recurring financial charges | 65 | €212 | €352 | +€140 | +66.1% |
| Profit (loss) for the period before taxes | 9903 | €30,047 | €44,446 | +€14,399 | +47.9% |
| Income taxes | 67/77 | €7,525 | €10,493 | +€2,968 | +39.4% |
| Profit (loss) for the period | 9904 | €22,522 | €33,953 | +€11,431 | +50.8% |
| Profit (loss) for the period to be appropriated | 9905 | €22,522 | €33,953 | +€11,431 | +50.8% |
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 27 October 2026 via checked.be.