MARTIN 2023: what changed
What changed
MARTIN 2023
NACE 90.201, Performing arts by independent artists
filed annual accounts (NBB)
Net result for the year
€81,100
2024 · €93,805-€12,705
Equity
€596,440
2024 · €602,239-€5,799
Cash
€21,635
2024 · €5,634+€16,002
Balance sheet total
€1.3m
2024 · €1.3m+€5,119
Largest movements
Assets
- Tangible fixed assets -€37,525
down €37,525 (-3.0%), from €1.3m to €1.2m
of which Land and buildings: -€37,781
- Receivables within one year +€26,841
up €26,841 (+62.3%), from €43,056 to €69,898
of which Trade receivables: +€27,700
- Cash +€16,002
up €16,002 (+284%), from €5,634 to €21,635
mainly Net result for the year (+€81,100) and Depreciation (+€40,503)
Equity and liabilities
- Debts after one year -€58,532
down €58,532 (-8.8%), from €663,518 to €604,986
- Other debts +€35,235
up €35,235 (+277%), from €12,716 to €47,951
- Trade debts +€22,152
up €22,152 (+918%), from €2,412 to €24,564
- Tax, wage and social debts +€16,530
up €16,530 (+1,440%), from €1,148 to €17,678
Income statement
- Gross operating margin -€59,299
down €59,299 (-24.5%), from €242,103 to €182,804
- Depreciation -€35,829
down €35,829 (-46.9%), from €76,332 to €40,503
- Taxes -€13,682
down €13,682 (-33.0%), from €41,516 to €27,834
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€93,805
Gross operating margin
-€59,299
Depreciation
+€35,829
Other operating charges
-€1,371
Other operating items
-€1,357
Financial income
+€473
Financial charges
-€662
Taxes
+€13,682
Result 2025
€81,100
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€168,877
Investment
-€2,978
Financing
-€149,898
Cash 2024
€5,634
From operations (derived)
+€168,877
Net result for the year
+€81,100
Depreciation
+€40,503
Receivables within one year
-€26,841
Deferred charges and accrued income
+€199
Trade debts
+€22,152
Tax, wage and social debts
+€16,530
Other debts
+€35,235
Investment (derived)
-€2,978
Investment in fixed assets (net)
-€2,978
Financing
-€149,898
Debts after one year
-€58,532
Current portion of long-term debt
+€560
Short-term financial debts
-€5,027
Contributions, distributions and other
-€86,899
Cash 2025
€21,635
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,344,795 | €1,349,914 | +€5,119 | +0.4% |
| Fixed assets | 21/28 | €1,252,892 | €1,215,367 | -€37,525 | -3.0% |
| Tangible fixed assets | 22/27 | €1,252,592 | €1,215,067 | -€37,525 | -3.0% |
| Land and buildings | 22 | €1,247,782 | €1,210,002 | -€37,781 | -3.0% |
| Plant, machinery and equipment | 23 | €2,453 | €2,144 | -€309 | -12.6% |
| Furniture and vehicles | 24 | €2,357 | €2,921 | +€564 | +23.9% |
| Financial fixed assets | 28 | €300 | €300 | = | 0.0% |
| Current assets | 29/58 | €91,903 | €134,547 | +€42,644 | +46.4% |
| Stocks and contracts in progress | 3 | €39,250 | €39,250 | = | 0.0% |
| Stocks | 30/36 | €39,250 | €39,250 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €43,056 | €69,898 | +€26,841 | +62.3% |
| Trade receivables | 40 | €33,647 | €61,347 | +€27,700 | +82.3% |
| Other amounts receivable | 41 | €9,409 | €8,550 | -€859 | -9.1% |
| Cash at bank and in hand | 54/58 | €5,634 | €21,635 | +€16,002 | +284% |
| Deferred charges and accrued income | 490/1 | €3,963 | €3,764 | -€199 | -5.0% |
| Total equity and liabilities | 10/49 | €1,344,795 | €1,349,914 | +€5,119 | +0.4% |
| Equity | 10/15 | €602,239 | €596,440 | -€5,799 | -1.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €583,639 | €577,840 | -€5,799 | -1.0% |
| Distributable reserves | 133 | €583,639 | €577,840 | -€5,799 | -1.0% |
| Amounts payable | 17/49 | €742,557 | €753,474 | +€10,918 | +1.5% |
| Amounts payable after more than one year | 17 | €663,518 | €604,986 | -€58,532 | -8.8% |
| Financial debts | 170/4 | €663,518 | €604,986 | -€58,532 | -8.8% |
| Amounts payable within one year | 42/48 | €79,039 | €148,489 | +€69,449 | +87.9% |
| Current portion of amounts payable after more than one year | 42 | €57,736 | €58,296 | +€560 | +1.0% |
| Financial debts | 43 | €5,027 | - | -€5,027 | |
| Credit institutions | 430/8 | €5,027 | - | -€5,027 | |
| Trade debts | 44 | €2,412 | €24,564 | +€22,152 | +918% |
| Suppliers | 440/4 | €2,412 | €24,564 | +€22,152 | +918% |
| Taxes, remuneration and social security | 45 | €1,148 | €17,678 | +€16,530 | +1,440% |
| Taxes | 450/3 | €1,148 | €17,678 | +€16,530 | +1,440% |
| Other amounts payable | 47/48 | €12,716 | €47,951 | +€35,235 | +277% |
| Non-recurring operating income | 76A | - | €20,154 | +€20,154 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €76,332 | €40,503 | -€35,829 | -46.9% |
| Other operating charges | 640/8 | €3,800 | €5,171 | +€1,371 | +36.1% |
| Non-recurring operating charges | 66A | - | €1,357 | +€1,357 | |
| Gross operating margin | 9900 | €242,103 | €182,804 | -€59,299 | -24.5% |
| Operating profit (loss) | 9901 | €161,970 | €135,773 | -€26,198 | -16.2% |
| Financial income | 75/76B | - | €473 | +€473 | |
| Recurring financial income | 75 | - | €473 | +€473 | |
| Financial charges | 65/66B | €26,649 | €27,312 | +€662 | +2.5% |
| Recurring financial charges | 65 | €26,649 | €27,312 | +€662 | +2.5% |
| Profit (loss) for the period before taxes | 9903 | €135,321 | €108,934 | -€26,387 | -19.5% |
| Income taxes | 67/77 | €41,516 | €27,834 | -€13,682 | -33.0% |
| Profit (loss) for the period | 9904 | €93,805 | €81,100 | -€12,705 | -13.5% |
| Profit (loss) for the period to be appropriated | 9905 | €93,805 | €81,100 | -€12,705 | -13.5% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.