MARTIN'S BRUSSELS: what changed
What changed
MARTIN'S BRUSSELS
NACE 55.100, Hotels and similar accommodation
filed annual accounts (NBB)
Net result for the year
€130,855
2023 · €34,435+€96,421
Equity
-€5.5m
2023 · -€5.6m+€130,855
Cash
€230,798
2023 · €462,422-€231,624
Balance sheet total
€1.6m
2023 · €2.0m-€427,262
Largest movements
Assets
- Cash -€231,624
down €231,624 (-50.1%), from €462,422 to €230,798
mainly Debts after one year (-€408,787) and Tax, wage and social debts (-€174,368)
- Tangible fixed assets -€63,504
down €63,504 (-6.8%), from €934,370 to €870,866
of which Furniture and vehicles: -€44,384
- Receivables within one year -€60,502
down €60,502 (-12.3%), from €490,367 to €429,865
of which Trade receivables: -€71,163
- Financial fixed assets -€36,795
down €36,795 (-82.2%), from €44,779 to €7,983
of which Other financial fixed assets: -€36,795
- Formation expenses -€28,049
down €28,049 (-100%), from €28,049 to €0
Equity and liabilities
- Debts after one year -€408,787
down €408,787 (-6.7%), from €6.1m to €5.7m
of which Other amounts payable: -€391,026
- Tax, wage and social debts -€174,368
down €174,368 (-24.4%), from €715,097 to €540,729
of which Taxes: -€98,894
- Profit (loss) carried forward +€130,855
up €130,855 (+2.2%), from -€6.1m to -€5.9m
- Advances received +€75,867
up €75,867 (+357%), from €21,261 to €97,128
- Current portion of long-term debt -€34,627
down €34,627 (-66.1%), from €52,388 to €17,762
Income statement
- Turnover +€526,176
up €526,176 (+7.0%), from €7.5m to €8.1m
- Services and other goods +€403,394
up €403,394 (+11.2%), from €3.6m to €4.0m
- Depreciation -€104,800
down €104,800 (-28.7%), from €365,671 to €260,870
- Staff costs +€97,670
up €97,670 (+3.9%), from €2.5m to €2.6m
Change in the result, 2023 to 2024
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 2023
€34,435
Turnover
+€526,176
Other operating income
+€65,754
Goods and materials
-€30,319
Services and other goods
-€403,394
Staff costs
-€97,670
Depreciation
+€104,800
Provisions
-€460
Other operating charges
-€41,071
Other operating items
-€19,696
Financial income
+€199
Financial charges
-€7,717
Taxes
-€182
Result 2024
€130,855
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2023 and 2024 balance sheets and the 2024 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€344,165
Investment
-€132,375
Financing
-€443,414
Cash 2023
€462,422
From operations (derived)
+€344,165
Net result for the year
+€130,855
Depreciation
+€260,870
Receivables after one year
-€6,203
Stocks and contracts
+€14,305
Receivables within one year
+€60,502
Deferred charges and accrued income
-€1,462
Provisions
-€2,732
Trade debts
-€17,096
Tax, wage and social debts
-€174,368
Advances received
+€75,867
Other debts
+€375
Accrued charges and deferred income
+€3,251
Investment (derived)
-€132,375
Investment in fixed assets (net)
-€132,375
Financing
-€443,414
Debts after one year
-€408,787
Current portion of long-term debt
-€34,627
Cash 2024
€230,798
brings cash intakes cash out
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,047,246 | €1,619,985 | -€427,262 | -20.9% |
| Formation expenses | 20 | €28,049 | €0 | -€28,049 | -100% |
| Fixed assets | 21/28 | €979,296 | €878,849 | -€100,447 | -10.3% |
| Intangible fixed assets | 21 | €147 | €0 | -€147 | -100% |
| Tangible fixed assets | 22/27 | €934,370 | €870,866 | -€63,504 | -6.8% |
| Plant, machinery and equipment | 23 | €70,415 | €56,249 | -€14,166 | -20.1% |
| Furniture and vehicles | 24 | €162,586 | €118,201 | -€44,384 | -27.3% |
| Leasing and similar rights | 25 | €3,083 | €0 | -€3,083 | -100% |
| Other tangible fixed assets | 26 | €658,835 | €656,965 | -€1,871 | -0.3% |
| Assets under construction and advance payments | 27 | €39,451 | €39,451 | = | 0.0% |
| Financial fixed assets | 28 | €44,779 | €7,983 | -€36,795 | -82.2% |
| Affiliated companies | 280/1 | €0 | €0 | = | |
| Amounts receivable | 281 | €0 | €0 | = | |
| Other financial fixed assets | 284/8 | €44,779 | €7,983 | -€36,795 | -82.2% |
| Amounts receivable and cash guarantees | 285/8 | €44,779 | €7,983 | -€36,795 | -82.2% |
| Current assets | 29/58 | €1,039,902 | €741,136 | -€298,766 | -28.7% |
| Amounts receivable after more than one year | 29 | - | €6,203 | +€6,203 | |
| Other amounts receivable | 291 | - | €6,203 | +€6,203 | |
| Stocks and contracts in progress | 3 | €51,292 | €36,987 | -€14,305 | -27.9% |
| Stocks | 30/36 | €51,292 | €36,987 | -€14,305 | -27.9% |
| Raw materials and consumables | 30/31 | €29,842 | €21,872 | -€7,970 | -26.7% |
| Goods purchased for resale | 34 | €21,450 | €15,115 | -€6,336 | -29.5% |
| Amounts receivable within one year | 40/41 | €490,367 | €429,865 | -€60,502 | -12.3% |
| Trade receivables | 40 | €464,326 | €393,163 | -€71,163 | -15.3% |
| Other amounts receivable | 41 | €26,041 | €36,702 | +€10,661 | +40.9% |
| Current investments | 50/53 | €1,735 | €1,735 | = | 0.0% |
| Other investments | 51/53 | €1,735 | €1,735 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €462,422 | €230,798 | -€231,624 | -50.1% |
| Deferred charges and accrued income | 490/1 | €34,086 | €35,547 | +€1,462 | +4.3% |
| Total equity and liabilities | 10/49 | €2,047,246 | €1,619,985 | -€427,262 | -20.9% |
| Equity | 10/15 | -€5,608,610 | -€5,477,754 | +€130,855 | +2.3% |
| Contributions | 10/11 | €458,511 | €458,511 | = | 0.0% |
| Capital | 10 | €458,511 | €458,511 | = | 0.0% |
| Issued capital | 100 | €458,511 | €458,511 | = | 0.0% |
| Reserves | 13 | €1,239 | €1,239 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,239 | €1,239 | = | 0.0% |
| Legal reserve | 130 | €1,239 | €1,239 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,068,360 | -€5,937,505 | +€130,855 | +2.2% |
| Provisions and deferred taxes | 16 | €3,140 | €408 | -€2,732 | -87.0% |
| Provisions for liabilities and charges | 160/5 | €3,140 | €408 | -€2,732 | -87.0% |
| Pensions and similar obligations | 160 | €2,732 | €0 | -€2,732 | -100% |
| Environmental obligations | 163 | €408 | €408 | = | 0.0% |
| Amounts payable | 17/49 | €7,652,716 | €7,097,331 | -€555,385 | -7.3% |
| Amounts payable after more than one year | 17 | €6,098,746 | €5,689,959 | -€408,787 | -6.7% |
| Financial debts | 170/4 | €953,413 | €953,413 | = | 0.0% |
| Subordinated loans | 170 | €953,413 | €953,413 | = | 0.0% |
| Leasing and similar obligations | 172 | €0 | - | = | |
| Trade debts | 175 | €71,047 | €53,285 | -€17,762 | -25.0% |
| Suppliers | 1750 | €71,047 | €53,285 | -€17,762 | -25.0% |
| Other amounts payable | 178/9 | €5,074,287 | €4,683,261 | -€391,026 | -7.7% |
| Amounts payable within one year | 42/48 | €1,553,559 | €1,403,711 | -€149,849 | -9.6% |
| Current portion of amounts payable after more than one year | 42 | €52,388 | €17,762 | -€34,627 | -66.1% |
| Financial debts | 43 | €0 | €0 | = | |
| Other loans | 439 | €0 | €0 | = | |
| Trade debts | 44 | €752,524 | €735,428 | -€17,096 | -2.3% |
| Suppliers | 440/4 | €752,524 | €735,428 | -€17,096 | -2.3% |
| Advances received on contracts in progress | 46 | €21,261 | €97,128 | +€75,867 | +357% |
| Taxes, remuneration and social security | 45 | €715,097 | €540,729 | -€174,368 | -24.4% |
| Taxes | 450/3 | €236,630 | €137,736 | -€98,894 | -41.8% |
| Remuneration and social security | 454/9 | €478,467 | €402,993 | -€75,474 | -15.8% |
| Other amounts payable | 47/48 | €12,288 | €12,663 | +€375 | +3.1% |
| Accrued charges and deferred income | 492/3 | €410 | €3,661 | +€3,251 | +792% |
| Operating income | 70/76A | €7,685,595 | €8,277,531 | +€591,936 | +7.7% |
| Turnover | 70 | €7,549,728 | €8,075,904 | +€526,176 | +7.0% |
| Other operating income | 74 | €135,867 | €201,621 | +€65,754 | +48.4% |
| Non-recurring operating income | 76A | - | €6 | +€6 | |
| Operating charges | 60/66A | €7,628,108 | €8,115,924 | +€487,816 | +6.4% |
| Goods for resale, raw materials and consumables | 60 | €523,508 | €553,827 | +€30,319 | +5.8% |
| Purchases | 600/8 | €538,068 | €539,522 | +€1,453 | +0.3% |
| Change in stocks: decrease (increase) | 609 | -€14,560 | €14,305 | +€28,866 | |
| Services and other goods | 61 | €3,599,241 | €4,002,636 | +€403,394 | +11.2% |
| Remuneration, social security and pensions | 62 | €2,477,468 | €2,575,138 | +€97,670 | +3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €365,671 | €260,870 | -€104,800 | -28.7% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€3,192 | -€2,732 | +€460 | +14.4% |
| Other operating charges | 640/8 | €665,412 | €706,483 | +€41,071 | +6.2% |
| Non-recurring operating charges | 66A | - | €19,702 | +€19,702 | |
| Operating profit (loss) | 9901 | €57,487 | €161,607 | +€104,120 | +181% |
| Financial income | 75/76B | €56 | €255 | +€199 | +356% |
| Recurring financial income | 75 | €56 | €255 | +€199 | +356% |
| Other financial income | 752/9 | €56 | €255 | +€199 | +356% |
| Financial charges | 65/66B | €22,128 | €29,846 | +€7,717 | +34.9% |
| Recurring financial charges | 65 | €22,128 | €29,846 | +€7,717 | +34.9% |
| Debt charges | 650 | €6,521 | €13,873 | +€7,352 | +113% |
| Other financial charges | 652/9 | €15,607 | €15,972 | +€365 | +2.3% |
| Profit (loss) for the period before taxes | 9903 | €35,414 | €132,016 | +€96,602 | +273% |
| Income taxes | 67/77 | €980 | €1,161 | +€182 | +18.5% |
| Taxes | 670/3 | €980 | €1,161 | +€182 | +18.5% |
| Profit (loss) for the period | 9904 | €34,435 | €130,855 | +€96,421 | +280% |
| Profit (loss) for the period to be appropriated | 9905 | €34,435 | €130,855 | +€96,421 | +280% |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.