MARTHY: 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.
MARTHY
Largest movements
- Tangible fixed assets -€6,783
down €6,783 (-3.6%), from €189,042 to €182,259
of which Land and buildings: -€5,963
- Other debts -€11,163
down €11,163 (-19.1%), from €58,527 to €47,364
- Profit (loss) carried forward +€5,341
up €5,341 (+26.3%), from -€20,280 to -€14,939
- Reserves -€2,887
down €2,887 (-9.5%), from €30,531 to €27,644
of which Tax-exempt reserves: -€2,887
- Short-term financial debts +€2,097
up €2,097 (+6.0%), from €34,862 to €36,959
- Gross operating margin +€3,367
up €3,367 (+25.4%), from €13,283 to €16,651
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 | €189,638 | €182,259 | -€7,379 | -3.9% |
| Fixed assets | 21/28 | €189,042 | €182,259 | -€6,783 | -3.6% |
| Tangible fixed assets | 22/27 | €189,042 | €182,259 | -€6,783 | -3.6% |
| Land and buildings | 22 | €133,137 | €127,174 | -€5,963 | -4.5% |
| Plant, machinery and equipment | 23 | €55,905 | €55,085 | -€820 | -1.5% |
| Current assets | 29/58 | €595 | - | -€595 | |
| Cash at bank and in hand | 54/58 | €595 | - | -€595 | |
| Total equity and liabilities | 10/49 | €189,638 | €182,259 | -€7,379 | -3.9% |
| Equity | 10/15 | €84,625 | €87,080 | +€2,454 | +2.9% |
| Contributions | 10/11 | €74,375 | €74,375 | = | 0.0% |
| Capital | 10 | €74,375 | €74,375 | = | 0.0% |
| Issued capital | 100 | €74,375 | €74,375 | = | 0.0% |
| Reserves | 13 | €30,531 | €27,644 | -€2,887 | -9.5% |
| Non-distributable reserves | 130/1 | €7,437 | €7,437 | = | 0.0% |
| Legal reserve | 130 | €7,437 | €7,437 | = | 0.0% |
| Tax-exempt reserves | 132 | €23,094 | €20,207 | -€2,887 | -12.5% |
| Profit (loss) carried forward | 14 | -€20,280 | -€14,939 | +€5,341 | +26.3% |
| Provisions and deferred taxes | 16 | €7,698 | €6,736 | -€962 | -12.5% |
| Deferred taxes | 168 | €7,698 | €6,736 | -€962 | -12.5% |
| Amounts payable | 17/49 | €97,315 | €88,444 | -€8,871 | -9.1% |
| Amounts payable within one year | 42/48 | €93,736 | €84,749 | -€8,987 | -9.6% |
| Financial debts | 43 | €34,862 | €36,959 | +€2,097 | +6.0% |
| Credit institutions | 430/8 | €34,862 | €36,959 | +€2,097 | +6.0% |
| Trade debts | 44 | €347 | €426 | +€79 | +22.8% |
| Suppliers | 440/4 | €347 | €426 | +€79 | +22.8% |
| Other amounts payable | 47/48 | €58,527 | €47,364 | -€11,163 | -19.1% |
| Accrued charges and deferred income | 492/3 | €3,579 | €3,695 | +€116 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,783 | €6,783 | = | 0.0% |
| Other operating charges | 640/8 | €2,687 | €2,846 | +€159 | +5.9% |
| Gross operating margin | 9900 | €13,283 | €16,651 | +€3,367 | +25.4% |
| Operating profit (loss) | 9901 | €3,813 | €7,022 | +€3,209 | +84.1% |
| Financial charges | 65/66B | €5,487 | €5,530 | +€43 | +0.8% |
| Recurring financial charges | 65 | €5,487 | €5,530 | +€43 | +0.8% |
| Profit (loss) for the period before taxes | 9903 | -€1,673 | €1,492 | +€3,166 | |
| Transfer from deferred taxes | 780 | €962 | €962 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€711 | €2,454 | +€3,166 | |
| Transfer from tax-exempt reserves | 789 | €2,887 | €2,887 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €2,176 | €5,341 | +€3,166 | +145.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.