MARTIN SERVICE: 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.
MARTIN SERVICE
Largest movements
- Stocks and contracts +€130,395
up €130,395 (+143%), from €91,144 to €221,539
- Intangible fixed assets +€67,623
up €67,623, from €0 to €67,623
- Cash +€31,964
up €31,964 (+399%), from €8,018 to €39,982
mainly Debts after one year (+€98,236) and Current portion of long-term debt (+€35,728)
- Tangible fixed assets -€16,422
down €16,422 (-28.9%), from €56,827 to €40,404
of which Furniture and vehicles: -€9,839
- Receivables within one year +€8,122
up €8,122 (+17.8%), from €45,504 to €53,626
of which Trade receivables: +€9,841
- Debts after one year +€98,236
up €98,236 (+315%), from €31,154 to €129,390
- Current portion of long-term debt +€35,728
up €35,728 (+272%), from €13,147 to €48,875
- Tax, wage and social debts +€34,202
up €34,202 (+479%), from €7,143 to €41,345
of which Taxes: +€29,899
- Other debts +€30,469
up €30,469 (+281%), from €10,830 to €41,299
- Trade debts +€24,270
up €24,270 (+1,712%), from €1,417 to €25,687
- Gross operating margin +€76,950
up €76,950 (+213%), from €36,165 to €113,116
- Staff costs +€35,337
up €35,337 (+291%), from €12,161 to €47,497
- Financial charges +€8,809
up €8,809 (+308%), from €2,858 to €11,666
- Taxes +€8,521
up €8,521 (+1,993%), from €427 to €8,948
- Depreciation +€7,047
up €7,047 (+42.1%), from €16,752 to €23,799
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €209,451 | €434,097 | +€224,646 | +107% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €57,007 | €113,608 | +€56,601 | +99.3% |
| Intangible fixed assets | 21 | €0 | €67,623 | +€67,623 | |
| Tangible fixed assets | 22/27 | €56,827 | €40,404 | -€16,422 | -28.9% |
| Plant, machinery and equipment | 23 | €3,906 | €1,754 | -€2,151 | -55.1% |
| Furniture and vehicles | 24 | €33,859 | €24,020 | -€9,839 | -29.1% |
| Leasing and similar rights | 25 | €9,344 | €5,596 | -€3,748 | -40.1% |
| Other tangible fixed assets | 26 | €9,718 | €9,034 | -€685 | -7.0% |
| Financial fixed assets | 28 | €180 | €5,580 | +€5,400 | +3,000% |
| Current assets | 29/58 | €152,444 | €320,489 | +€168,045 | +110% |
| Stocks and contracts in progress | 3 | €91,144 | €221,539 | +€130,395 | +143% |
| Stocks | 30/36 | €91,144 | €221,539 | +€130,395 | +143% |
| Amounts receivable within one year | 40/41 | €45,504 | €53,626 | +€8,122 | +17.8% |
| Trade receivables | 40 | €28,940 | €38,780 | +€9,841 | +34.0% |
| Other amounts receivable | 41 | €16,565 | €14,846 | -€1,719 | -10.4% |
| Cash at bank and in hand | 54/58 | €8,018 | €39,982 | +€31,964 | +399% |
| Deferred charges and accrued income | 490/1 | €7,778 | €5,342 | -€2,436 | -31.3% |
| Total equity and liabilities | 10/49 | €209,451 | €434,097 | +€224,646 | +107% |
| Equity | 10/15 | €145,759 | €142,285 | -€3,474 | -2.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €91,410 | €87,610 | -€3,800 | -4.2% |
| Distributable reserves | 133 | €91,410 | €87,610 | -€3,800 | -4.2% |
| Profit (loss) carried forward | 14 | €35,749 | €36,075 | +€326 | +0.9% |
| Amounts payable | 17/49 | €63,692 | €291,812 | +€228,120 | +358% |
| Amounts payable after more than one year | 17 | €31,154 | €129,390 | +€98,236 | +315% |
| Financial debts | 170/4 | €31,154 | €129,390 | +€98,236 | +315% |
| Amounts payable within one year | 42/48 | €32,537 | €157,206 | +€124,669 | +383% |
| Current portion of amounts payable after more than one year | 42 | €13,147 | €48,875 | +€35,728 | +272% |
| Trade debts | 44 | €1,417 | €25,687 | +€24,270 | +1,712% |
| Suppliers | 440/4 | €1,417 | €25,687 | +€24,270 | +1,712% |
| Taxes, remuneration and social security | 45 | €7,143 | €41,345 | +€34,202 | +479% |
| Taxes | 450/3 | €5,180 | €35,079 | +€29,899 | +577% |
| Remuneration and social security | 454/9 | €1,963 | €6,266 | +€4,303 | +219% |
| Other amounts payable | 47/48 | €10,830 | €41,299 | +€30,469 | +281% |
| Accrued charges and deferred income | 492/3 | - | €5,216 | +€5,216 | |
| Remuneration, social security and pensions | 62 | €12,161 | €47,497 | +€35,337 | +291% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,752 | €23,799 | +€7,047 | +42.1% |
| Other operating charges | 640/8 | €845 | €1,085 | +€239 | +28.3% |
| Gross operating margin | 9900 | €36,165 | €113,116 | +€76,950 | +213% |
| Operating profit (loss) | 9901 | €6,407 | €40,735 | +€34,328 | +536% |
| Financial income | 75/76B | - | €206 | +€206 | |
| Recurring financial income | 75 | - | €206 | +€206 | |
| Financial charges | 65/66B | €2,858 | €11,666 | +€8,809 | +308% |
| Recurring financial charges | 65 | €2,858 | €11,666 | +€8,809 | +308% |
| Profit (loss) for the period before taxes | 9903 | €3,549 | €29,274 | +€25,725 | +725% |
| Income taxes | 67/77 | €427 | €8,948 | +€8,521 | +1,993% |
| Profit (loss) for the period | 9904 | €3,122 | €20,326 | +€17,204 | +551% |
| Profit (loss) for the period to be appropriated | 9905 | €3,122 | €20,326 | +€17,204 | +551% |
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 1 November 2026 via checked.be.