MARTINA: 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.
MARTINA
Largest movements
- Cash +€19,267
up €19,267 (+52.6%), from €36,656 to €55,923
mainly Other debts (+€19,624) and Net result for the year (+€13,213)
- Receivables within one year -€12,114
down €12,114 (-61.0%), from €19,844 to €7,730
of which Trade receivables: -€16,357
- Tangible fixed assets -€7,531
down €7,531 (-36.6%), from €20,595 to €13,064
of which Furniture and vehicles: -€6,594
- Other debts +€19,624
up €19,624 (+195.7%), from €10,028 to €29,652
- Reserves -€16,440
down €16,440 (-27.6%), from €59,466 to €43,026
- Tax, wage and social debts -€3,328
down €3,328 (-100.0%), from €3,328 to €0
- Gross operating margin -€2,914
down €2,914 (-9.9%), from €29,523 to €26,609
- Taxes -€736
down €736 (-12.8%), from €5,761 to €5,026
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 | €79,386 | €79,009 | -€378 | -0.5% |
| Fixed assets | 21/28 | €20,595 | €13,064 | -€7,531 | -36.6% |
| Tangible fixed assets | 22/27 | €20,595 | €13,064 | -€7,531 | -36.6% |
| Plant, machinery and equipment | 23 | €2,872 | €1,935 | -€937 | -32.6% |
| Furniture and vehicles | 24 | €17,723 | €11,129 | -€6,594 | -37.2% |
| Current assets | 29/58 | €58,791 | €65,945 | +€7,154 | +12.2% |
| Amounts receivable within one year | 40/41 | €19,844 | €7,730 | -€12,114 | -61.0% |
| Trade receivables | 40 | €18,912 | €2,556 | -€16,357 | -86.5% |
| Other amounts receivable | 41 | €931 | €5,174 | +€4,243 | +455.5% |
| Cash at bank and in hand | 54/58 | €36,656 | €55,923 | +€19,267 | +52.6% |
| Deferred charges and accrued income | 490/1 | €2,292 | €2,292 | = | 0.0% |
| Total equity and liabilities | 10/49 | €79,386 | €79,009 | -€378 | -0.5% |
| Equity | 10/15 | €65,666 | €49,226 | -€16,440 | -25.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €59,466 | €43,026 | -€16,440 | -27.6% |
| Distributable reserves | 133 | €59,466 | €43,026 | -€16,440 | -27.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €13,720 | €29,783 | +€16,062 | +117.1% |
| Amounts payable within one year | 42/48 | €13,720 | €29,783 | +€16,062 | +117.1% |
| Trade debts | 44 | €364 | €130 | -€234 | -64.2% |
| Suppliers | 440/4 | €364 | €130 | -€234 | -64.2% |
| Taxes, remuneration and social security | 45 | €3,328 | €0 | -€3,328 | -100.0% |
| Taxes | 450/3 | €3,328 | €0 | -€3,328 | -100.0% |
| Other amounts payable | 47/48 | €10,028 | €29,652 | +€19,624 | +195.7% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,687 | €7,531 | -€156 | -2.0% |
| Other operating charges | 640/8 | €1,021 | €734 | -€288 | -28.2% |
| Gross operating margin | 9900 | €29,523 | €26,609 | -€2,914 | -9.9% |
| Operating profit (loss) | 9901 | €20,814 | €18,344 | -€2,471 | -11.9% |
| Financial income | 75/76B | €0 | €59 | +€59 | +589000.0% |
| Recurring financial income | 75 | €0 | €59 | +€59 | +589000.0% |
| Financial charges | 65/66B | €151 | €164 | +€13 | +8.5% |
| Recurring financial charges | 65 | €151 | €164 | +€13 | +8.5% |
| Profit (loss) for the period before taxes | 9903 | €20,663 | €18,238 | -€2,425 | -11.7% |
| Income taxes | 67/77 | €5,761 | €5,026 | -€736 | -12.8% |
| Profit (loss) for the period | 9904 | €14,902 | €13,213 | -€1,689 | -11.3% |
| Profit (loss) for the period to be appropriated | 9905 | €14,902 | €13,213 | -€1,689 | -11.3% |
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 1 October 2026 via checked.be.