MARTIN EN 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.
What changed
MARTIN EN CO
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€616,679
2024 · €632,889-€16,210
Equity
€1.6m
2024 · €1.5m+€66,679
Cash
€31,456
2024 · €28,287+€3,169
Balance sheet total
€3.6m
2024 · €3.2m+€422,697
Largest movements
Assets
- Receivables within one year +€227,145
up €227,145 (+10.2%), from €2.2m to €2.5m
of which Trade receivables: +€299,316
- Receivables after one year +€142,952
new in 2025: €142,952
- Financial fixed assets +€64,443
up €64,443 (+7.2%), from €891,686 to €956,129
Equity and liabilities
- Other debts +€333,406
up €333,406 (+27.1%), from €1.2m to €1.6m
- Profit (loss) carried forward +€66,679
up €66,679 (+8.6%), from €776,385 to €843,064
Income statement
- Turnover +€48,424
up €48,424 (+4.8%), from €1.0m to €1.1m
- Services and other goods +€46,220
up €46,220 (+6.0%), from €768,539 to €814,758
- Financial income -€35,107
down €35,107 (-5.4%), from €654,374 to €619,267
- Financial charges -€26,806
down €26,806 (-32.3%), from €82,963 to €56,157
- Staff costs +€14,041
up €14,041 (+9.5%), from €148,353 to €162,394
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.
Result 2024
€632,889
Turnover
+€48,424
Other operating income
-€231
Services and other goods
-€46,220
Staff costs
-€14,041
Depreciation
+€5,827
Other operating charges
-€1,666
Financial income
-€35,107
Financial charges
+€26,806
Taxes
-€1
Result 2025
€616,679
raises the resultlowers the result
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.
From operations
+€614,492
Investment
-€68,938
Financing
-€542,385
Cash 2024
€28,287
From operations (derived)
+€614,492
Net result for the year
+€616,679
Depreciation
+€19,479
Receivables after one year
-€142,952
Receivables within one year
-€227,145
Smaller working-capital items
+€1,241
Trade debts
+€13,782
Other debts
+€333,406
Investment (derived)
-€68,938
Investment in fixed assets (net)
-€68,938
Financing
-€542,385
Debts after one year
-€2,744
Current portion of long-term debt
-€13,252
Short-term financial debts
+€23,611
Contributions, distributions and other
-€550,000
Cash 2025
€31,456
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,178,132 | €3,600,829 | +€422,697 | +13.3% |
| Fixed assets | 21/28 | €914,576 | €964,035 | +€49,459 | +5.4% |
| Tangible fixed assets | 22/27 | €22,890 | €7,905 | -€14,985 | -65.5% |
| Furniture and vehicles | 24 | €5,875 | €2,071 | -€3,805 | -64.8% |
| Leasing and similar rights | 25 | €17,015 | €2,368 | -€14,647 | -86.1% |
| Other tangible fixed assets | 26 | - | €3,467 | +€3,467 | |
| Financial fixed assets | 28 | €891,686 | €956,129 | +€64,443 | +7.2% |
| Affiliated companies | 280/1 | €891,686 | €956,129 | +€64,443 | +7.2% |
| Participating interests | 280 | €891,686 | €956,129 | +€64,443 | +7.2% |
| Current assets | 29/58 | €2,263,556 | €2,636,794 | +€373,238 | +16.5% |
| Amounts receivable after more than one year | 29 | - | €142,952 | +€142,952 | |
| Other amounts receivable | 291 | - | €142,952 | +€142,952 | |
| Amounts receivable within one year | 40/41 | €2,235,210 | €2,462,354 | +€227,145 | +10.2% |
| Trade receivables | 40 | €573,114 | €872,430 | +€299,316 | +52.2% |
| Other amounts receivable | 41 | €1,662,096 | €1,589,924 | -€72,172 | -4.3% |
| Cash at bank and in hand | 54/58 | €28,287 | €31,456 | +€3,169 | +11.2% |
| Deferred charges and accrued income | 490/1 | €59 | €32 | -€27 | -45.7% |
| Total equity and liabilities | 10/49 | €3,178,132 | €3,600,829 | +€422,697 | +13.3% |
| Equity | 10/15 | €1,530,559 | €1,597,238 | +€66,679 | +4.4% |
| Contributions | 10/11 | €350,000 | €350,000 | = | 0.0% |
| Capital | 10 | €350,000 | €350,000 | = | 0.0% |
| Issued capital | 100 | €350,000 | €350,000 | = | 0.0% |
| Reserves | 13 | €404,174 | €404,174 | = | 0.0% |
| Non-distributable reserves | 130/1 | €35,000 | €35,000 | = | 0.0% |
| Legal reserve | 130 | €35,000 | €35,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,718 | €3,718 | = | 0.0% |
| Distributable reserves | 133 | €365,456 | €365,456 | = | 0.0% |
| Profit (loss) carried forward | 14 | €776,385 | €843,064 | +€66,679 | +8.6% |
| Amounts payable | 17/49 | €1,647,573 | €2,003,591 | +€356,018 | +21.6% |
| Amounts payable after more than one year | 17 | €302,744 | €300,000 | -€2,744 | -0.9% |
| Financial debts | 170/4 | €2,744 | - | -€2,744 | |
| Leasing and similar obligations | 172 | €2,744 | - | -€2,744 | |
| Other amounts payable | 178/9 | €300,000 | €300,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,344,829 | €1,703,591 | +€358,761 | +26.7% |
| Current portion of amounts payable after more than one year | 42 | €15,996 | €2,744 | -€13,252 | -82.8% |
| Financial debts | 43 | - | €23,611 | +€23,611 | |
| Credit institutions | 430/8 | - | €23,611 | +€23,611 | |
| Trade debts | 44 | €78,424 | €92,207 | +€13,782 | +17.6% |
| Suppliers | 440/4 | €78,424 | €92,207 | +€13,782 | +17.6% |
| Taxes, remuneration and social security | 45 | €18,309 | €19,523 | +€1,214 | +6.6% |
| Taxes | 450/3 | €366 | €364 | -€1 | -0.4% |
| Remuneration and social security | 454/9 | €17,943 | €19,158 | +€1,216 | +6.8% |
| Other amounts payable | 47/48 | €1,232,100 | €1,565,507 | +€333,406 | +27.1% |
| Operating income | 70/76A | €1,006,218 | €1,054,410 | +€48,193 | +4.8% |
| Turnover | 70 | €1,005,487 | €1,053,911 | +€48,424 | +4.8% |
| Other operating income | 74 | €731 | €499 | -€231 | -31.7% |
| Operating charges | 60/66A | €944,558 | €1,000,659 | +€56,100 | +5.9% |
| Services and other goods | 61 | €768,539 | €814,758 | +€46,220 | +6.0% |
| Remuneration, social security and pensions | 62 | €148,353 | €162,394 | +€14,041 | +9.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,306 | €19,479 | -€5,827 | -23.0% |
| Other operating charges | 640/8 | €2,360 | €4,027 | +€1,666 | +70.6% |
| Operating profit (loss) | 9901 | €61,659 | €53,752 | -€7,907 | -12.8% |
| Financial income | 75/76B | €654,374 | €619,267 | -€35,107 | -5.4% |
| Recurring financial income | 75 | €654,374 | €619,267 | -€35,107 | -5.4% |
| Income from financial fixed assets | 750 | €550,000 | €549,700 | -€300 | -0.1% |
| Income from current assets | 751 | €99,206 | €68,413 | -€30,793 | -31.0% |
| Other financial income | 752/9 | €5,168 | €1,154 | -€4,014 | -77.7% |
| Financial charges | 65/66B | €82,963 | €56,157 | -€26,806 | -32.3% |
| Recurring financial charges | 65 | €82,963 | €56,157 | -€26,806 | -32.3% |
| Debt charges | 650 | €79,767 | €53,670 | -€26,097 | -32.7% |
| Other financial charges | 652/9 | €3,196 | €2,487 | -€709 | -22.2% |
| Profit (loss) for the period before taxes | 9903 | €633,070 | €616,862 | -€16,209 | -2.6% |
| Income taxes | 67/77 | €182 | €183 | +€1 | +0.7% |
| Taxes | 670/3 | €182 | €183 | +€1 | +0.7% |
| Profit (loss) for the period | 9904 | €632,889 | €616,679 | -€16,210 | -2.6% |
| Profit (loss) for the period to be appropriated | 9905 | €632,889 | €616,679 | -€16,210 | -2.6% |
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 28 October 2026 via checked.be.