Martho Consult: 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.
Martho Consult
Largest movements
- Receivables within one year +€8,406
up €8,406 (+86.0%), from €9,771 to €18,177
- Cash +€6,271
up €6,271 (+14.2%), from €44,184 to €50,455
mainly Net result for the year (+€43,189) and Depreciation (+€16,321)
- Tangible fixed assets -€5,035
down €5,035 (-7.3%), from €68,920 to €63,885
of which Furniture and vehicles: -€12,085
- Profit (loss) carried forward +€26,115
up €26,115 (+153%), from €17,074 to €43,189
- Debts after one year -€13,274
down €13,274 (-51.2%), from €25,943 to €12,669
- Other debts -€3,897
down €3,897 (-97.2%), from €4,011 to €114
- Gross operating margin +€34,735
up €34,735 (+87.3%), from €39,784 to €74,519
- Taxes +€7,046
up €7,046 (+115%), from €6,141 to €13,187
- Depreciation +€2,139
up €2,139 (+15.1%), from €14,182 to €16,321
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 | €123,221 | €133,041 | +€9,820 | +8.0% |
| Fixed assets | 21/28 | €68,920 | €63,885 | -€5,035 | -7.3% |
| Tangible fixed assets | 22/27 | €68,920 | €63,885 | -€5,035 | -7.3% |
| Plant, machinery and equipment | 23 | €789 | €1,545 | +€756 | +95.8% |
| Furniture and vehicles | 24 | €35,286 | €23,201 | -€12,085 | -34.2% |
| Other tangible fixed assets | 26 | €32,845 | €39,139 | +€6,294 | +19.2% |
| Current assets | 29/58 | €54,301 | €69,156 | +€14,855 | +27.4% |
| Amounts receivable within one year | 40/41 | €9,771 | €18,177 | +€8,406 | +86.0% |
| Trade receivables | 40 | €9,771 | €18,177 | +€8,406 | +86.0% |
| Cash at bank and in hand | 54/58 | €44,184 | €50,455 | +€6,271 | +14.2% |
| Deferred charges and accrued income | 490/1 | €346 | €524 | +€178 | +51.4% |
| Total equity and liabilities | 10/49 | €123,221 | €133,041 | +€9,820 | +8.0% |
| Equity | 10/15 | €52,766 | €78,881 | +€26,115 | +49.5% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €34,692 | €34,692 | = | 0.0% |
| Distributable reserves | 133 | €34,692 | €34,692 | = | 0.0% |
| Profit (loss) carried forward | 14 | €17,074 | €43,189 | +€26,115 | +153% |
| Amounts payable | 17/49 | €70,455 | €54,160 | -€16,295 | -23.1% |
| Amounts payable after more than one year | 17 | €25,943 | €12,669 | -€13,274 | -51.2% |
| Financial debts | 170/4 | €25,943 | €12,669 | -€13,274 | -51.2% |
| Amounts payable within one year | 42/48 | €44,512 | €41,491 | -€3,021 | -6.8% |
| Current portion of amounts payable after more than one year | 42 | €12,727 | €13,274 | +€547 | +4.3% |
| Trade debts | 44 | €1,215 | €330 | -€885 | -72.8% |
| Suppliers | 440/4 | €1,215 | €330 | -€885 | -72.8% |
| Taxes, remuneration and social security | 45 | €26,559 | €27,773 | +€1,214 | +4.6% |
| Taxes | 450/3 | €26,559 | €27,773 | +€1,214 | +4.6% |
| Other amounts payable | 47/48 | €4,011 | €114 | -€3,897 | -97.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,182 | €16,321 | +€2,139 | +15.1% |
| Other operating charges | 640/8 | €410 | €335 | -€75 | -18.3% |
| Gross operating margin | 9900 | €39,784 | €74,519 | +€34,735 | +87.3% |
| Operating profit (loss) | 9901 | €25,192 | €57,863 | +€32,671 | +130% |
| Financial income | 75/76B | €1 | €10 | +€9 | +900% |
| Recurring financial income | 75 | €1 | €10 | +€9 | +900% |
| Financial charges | 65/66B | €1,978 | €1,497 | -€481 | -24.3% |
| Recurring financial charges | 65 | €1,978 | €1,497 | -€481 | -24.3% |
| Profit (loss) for the period before taxes | 9903 | €23,215 | €56,376 | +€33,161 | +143% |
| Income taxes | 67/77 | €6,141 | €13,187 | +€7,046 | +115% |
| Profit (loss) for the period | 9904 | €17,074 | €43,189 | +€26,115 | +153% |
| Profit (loss) for the period to be appropriated | 9905 | €17,074 | €43,189 | +€26,115 | +153% |
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 13 October 2026 via checked.be.