MARTIAL SQUARE: 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.
MARTIAL SQUARE
Largest movements
- Receivables within one year -€1,622
down €1,622 (-95.7%), from €1,696 to €74
of which Other amounts receivable: -€1,622
- Cash -€94
down €94 (-55.6%), from €169 to €75
mainly Net result for the year (-€5,484)
- Profit (loss) carried forward -€5,484
down €5,484 (-2.6%), from -€211,292 to -€216,776
- Debts after one year +€3,333
up €3,333 (+1.8%), from €186,513 to €189,846
- Trade debts +€435
up €435 (+98.0%), from €444 to €878
- Financial charges +€60
up €60 (+1.5%), from €3,867 to €3,927
- Other operating charges +€12
up €12 (+1.5%), from €827 to €840
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 | €1,865 | €149 | -€1,716 | -92.0% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €0 | €0 | = | |
| Land and buildings | 22 | €0 | €0 | = | |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €1,865 | €149 | -€1,716 | -92.0% |
| Amounts receivable within one year | 40/41 | €1,696 | €74 | -€1,622 | -95.7% |
| Trade receivables | 40 | €0 | €0 | = | |
| Other amounts receivable | 41 | €1,696 | €74 | -€1,622 | -95.7% |
| Cash at bank and in hand | 54/58 | €169 | €75 | -€94 | -55.6% |
| Deferred charges and accrued income | 490/1 | €0 | €0 | = | |
| Total equity and liabilities | 10/49 | €1,865 | €149 | -€1,716 | -92.0% |
| Equity | 10/15 | -€185,092 | -€190,576 | -€5,484 | -3.0% |
| Contributions | 10/11 | €26,200 | €26,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€211,292 | -€216,776 | -€5,484 | -2.6% |
| Amounts payable | 17/49 | €186,957 | €190,725 | +€3,768 | +2.0% |
| Amounts payable after more than one year | 17 | €186,513 | €189,846 | +€3,333 | +1.8% |
| Financial debts | 170/4 | €186,513 | €189,846 | +€3,333 | +1.8% |
| Amounts payable within one year | 42/48 | €444 | €878 | +€435 | +98.0% |
| Trade debts | 44 | €444 | €878 | +€435 | +98.0% |
| Suppliers | 440/4 | €444 | €878 | +€435 | +98.0% |
| Advances received on contracts in progress | 46 | €0 | €0 | = | |
| Taxes, remuneration and social security | 45 | €0 | €0 | = | |
| Taxes | 450/3 | €0 | €0 | = | |
| Remuneration and social security | 454/9 | €0 | €0 | = | |
| Accrued charges and deferred income | 492/3 | €0 | €0 | = | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Other operating charges | 640/8 | €827 | €840 | +€12 | +1.5% |
| Gross operating margin | 9900 | -€715 | -€718 | -€3 | -0.4% |
| Operating profit (loss) | 9901 | -€1,542 | -€1,557 | -€15 | -1.0% |
| Financial charges | 65/66B | €3,867 | €3,927 | +€60 | +1.5% |
| Recurring financial charges | 65 | €3,867 | €3,927 | +€60 | +1.5% |
| Profit (loss) for the period before taxes | 9903 | -€5,409 | -€5,484 | -€75 | -1.4% |
| Profit (loss) for the period | 9904 | -€5,409 | -€5,484 | -€75 | -1.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,409 | -€5,484 | -€75 | -1.4% |
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 5 October 2026 via checked.be.