MARTINET: 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.
MARTINET
Largest movements
- Tangible fixed assets -€60,588
down €60,588 (-24.4%), from €248,319 to €187,731
of which Land and buildings: -€43,401
- Stocks and contracts -€5,000
down €5,000 (-32.3%), from €15,500 to €10,500
- Cash -€2,982
no longer reported in 2025 (was €2,982)
mainly Debts after one year (-€36,819) and Net result for the year (-€30,696)
- Debts after one year -€36,819
down €36,819 (-12.4%), from €297,108 to €260,289
of which Financial debts: -€48,701
- Profit (loss) carried forward -€30,696
down €30,696 (-10.2%), from -€302,275 to -€332,971
- Other debts -€9,000
down €9,000 (-69.2%), from €13,000 to €4,000
- Short-term financial debts -€5,226
down €5,226 (-18.2%), from €28,784 to €23,558
- Tax, wage and social debts +€3,970
up €3,970 (+23.7%), from €16,728 to €20,698
of which Taxes: +€2,994
- Gross operating margin +€22,136
up €22,136 (+13.1%), from €169,065 to €191,201
- Staff costs -€2,433
down €2,433 (-1.8%), from €132,507 to €130,074
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 | €280,490 | €209,861 | -€70,629 | -25.2% |
| Fixed assets | 21/28 | €248,394 | €187,806 | -€60,588 | -24.4% |
| Tangible fixed assets | 22/27 | €248,319 | €187,731 | -€60,588 | -24.4% |
| Land and buildings | 22 | €157,480 | €114,078 | -€43,401 | -27.6% |
| Plant, machinery and equipment | 23 | €41,686 | €29,968 | -€11,718 | -28.1% |
| Furniture and vehicles | 24 | €11,003 | €15,056 | +€4,052 | +36.8% |
| Leasing and similar rights | 25 | €37,944 | €28,630 | -€9,314 | -24.5% |
| Other tangible fixed assets | 26 | €206 | - | -€206 | |
| Financial fixed assets | 28 | €75 | €75 | = | 0.0% |
| Current assets | 29/58 | €32,096 | €22,054 | -€10,041 | -31.3% |
| Stocks and contracts in progress | 3 | €15,500 | €10,500 | -€5,000 | -32.3% |
| Stocks | 30/36 | €15,500 | €10,500 | -€5,000 | -32.3% |
| Amounts receivable within one year | 40/41 | €9,438 | €8,836 | -€602 | -6.4% |
| Trade receivables | 40 | €9,438 | €8,836 | -€602 | -6.4% |
| Cash at bank and in hand | 54/58 | €2,982 | - | -€2,982 | |
| Deferred charges and accrued income | 490/1 | €4,177 | €2,718 | -€1,458 | -34.9% |
| Total equity and liabilities | 10/49 | €280,490 | €209,861 | -€70,629 | -25.2% |
| Equity | 10/15 | -€173,683 | -€204,379 | -€30,696 | -17.7% |
| Contributions | 10/11 | €128,592 | €128,592 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€302,275 | -€332,971 | -€30,696 | -10.2% |
| Amounts payable | 17/49 | €454,173 | €414,240 | -€39,933 | -8.8% |
| Amounts payable after more than one year | 17 | €297,108 | €260,289 | -€36,819 | -12.4% |
| Financial debts | 170/4 | €96,999 | €48,298 | -€48,701 | -50.2% |
| Other amounts payable | 178/9 | €200,109 | €211,991 | +€11,882 | +5.9% |
| Amounts payable within one year | 42/48 | €157,065 | €153,951 | -€3,114 | -2.0% |
| Current portion of amounts payable after more than one year | 42 | €55,667 | €58,974 | +€3,307 | +5.9% |
| Financial debts | 43 | €28,784 | €23,558 | -€5,226 | -18.2% |
| Credit institutions | 430/8 | €28,784 | €23,558 | -€5,226 | -18.2% |
| Trade debts | 44 | €42,886 | €46,721 | +€3,835 | +8.9% |
| Suppliers | 440/4 | €42,886 | €46,721 | +€3,835 | +8.9% |
| Taxes, remuneration and social security | 45 | €16,728 | €20,698 | +€3,970 | +23.7% |
| Taxes | 450/3 | €3,903 | €6,898 | +€2,994 | +76.7% |
| Remuneration and social security | 454/9 | €12,824 | €13,800 | +€976 | +7.6% |
| Other amounts payable | 47/48 | €13,000 | €4,000 | -€9,000 | -69.2% |
| Remuneration, social security and pensions | 62 | €132,507 | €130,074 | -€2,433 | -1.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €75,839 | €76,319 | +€481 | +0.6% |
| Other operating charges | 640/8 | €3,047 | €2,499 | -€548 | -18.0% |
| Gross operating margin | 9900 | €169,065 | €191,201 | +€22,136 | +13.1% |
| Operating profit (loss) | 9901 | -€42,327 | -€17,691 | +€24,636 | +58.2% |
| Financial income | 75/76B | €11 | €0 | -€11 | -97.8% |
| Recurring financial income | 75 | €11 | €0 | -€11 | -97.8% |
| Financial charges | 65/66B | €13,526 | €12,575 | -€951 | -7.0% |
| Recurring financial charges | 65 | €13,526 | €12,575 | -€951 | -7.0% |
| Profit (loss) for the period before taxes | 9903 | -€55,842 | -€30,266 | +€25,577 | +45.8% |
| Income taxes | 67/77 | €562 | €430 | -€131 | -23.4% |
| Profit (loss) for the period | 9904 | -€56,404 | -€30,696 | +€25,708 | +45.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€56,404 | -€30,696 | +€25,708 | +45.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.