MARTINET CONSTRUCTION: 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 CONSTRUCTION
Largest movements
- Cash +€19,942
up €19,942 (+55.5%), from €35,905 to €55,846
mainly Accrued charges and deferred income (+€8,720) and Net result for the year (+€8,693)
- Stocks and contracts +€7,459
up €7,459 (+577.5%), from €1,292 to €8,751
- Tangible fixed assets -€5,954
down €5,954 (-54.3%), from €10,957 to €5,003
of which Leasing and similar rights: -€3,748
- Receivables within one year -€3,725
down €3,725 (-77.9%), from €4,782 to €1,058
of which Other amounts receivable: -€2,011
- Deferred charges and accrued income -€2,394
down €2,394 (-63.6%), from €3,765 to €1,371
- Accrued charges and deferred income +€8,720
new in 2025: €8,720
- Reserves +€8,693
up €8,693 (+76.4%), from €11,371 to €20,063
- Debts after one year -€3,082
no longer reported in 2025 (was €3,082)
- Tax, wage and social debts +€1,228
new in 2025: €1,228
of which Taxes: +€869
- Current portion of long-term debt -€842
down €842 (-21.5%), from €3,924 to €3,082
- Staff costs -€24,817
down €24,817 (-92.2%), from €26,917 to €2,101
- Gross operating margin -€19,486
down €19,486 (-46.8%), from €41,650 to €22,164
- Depreciation -€5,664
down €5,664 (-44.0%), from €12,881 to €7,217
- Taxes +€3,032
up €3,032 (+964.5%), from €314 to €3,347
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 | €56,861 | €72,239 | +€15,378 | +27.0% |
| Fixed assets | 21/28 | €11,117 | €5,213 | -€5,904 | -53.1% |
| Tangible fixed assets | 22/27 | €10,957 | €5,003 | -€5,954 | -54.3% |
| Plant, machinery and equipment | 23 | €7,208 | €5,003 | -€2,206 | -30.6% |
| Leasing and similar rights | 25 | €3,748 | - | -€3,748 | |
| Financial fixed assets | 28 | €160 | €210 | +€50 | +31.3% |
| Current assets | 29/58 | €45,744 | €67,026 | +€21,282 | +46.5% |
| Stocks and contracts in progress | 3 | €1,292 | €8,751 | +€7,459 | +577.5% |
| Stocks | 30/36 | €1,292 | €8,751 | +€7,459 | +577.5% |
| Amounts receivable within one year | 40/41 | €4,782 | €1,058 | -€3,725 | -77.9% |
| Trade receivables | 40 | €1,714 | - | -€1,714 | |
| Other amounts receivable | 41 | €3,069 | €1,058 | -€2,011 | -65.5% |
| Cash at bank and in hand | 54/58 | €35,905 | €55,846 | +€19,942 | +55.5% |
| Deferred charges and accrued income | 490/1 | €3,765 | €1,371 | -€2,394 | -63.6% |
| Total equity and liabilities | 10/49 | €56,861 | €72,239 | +€15,378 | +27.0% |
| Equity | 10/15 | €49,707 | €58,400 | +€8,693 | +17.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €11,371 | €20,063 | +€8,693 | +76.4% |
| Distributable reserves | 133 | €11,371 | €20,063 | +€8,693 | +76.4% |
| Profit (loss) carried forward | 14 | €32,136 | €32,136 | = | 0.0% |
| Amounts payable | 17/49 | €7,153 | €13,839 | +€6,686 | +93.5% |
| Amounts payable after more than one year | 17 | €3,082 | - | -€3,082 | |
| Financial debts | 170/4 | €3,082 | - | -€3,082 | |
| Amounts payable within one year | 42/48 | €4,071 | €5,119 | +€1,048 | +25.7% |
| Current portion of amounts payable after more than one year | 42 | €3,924 | €3,082 | -€842 | -21.5% |
| Trade debts | 44 | €147 | €646 | +€498 | +337.9% |
| Suppliers | 440/4 | €147 | €646 | +€498 | +337.9% |
| Taxes, remuneration and social security | 45 | - | €1,228 | +€1,228 | |
| Taxes | 450/3 | - | €869 | +€869 | |
| Remuneration and social security | 454/9 | - | €359 | +€359 | |
| Other amounts payable | 47/48 | - | €163 | +€163 | |
| Accrued charges and deferred income | 492/3 | - | €8,720 | +€8,720 | |
| Remuneration, social security and pensions | 62 | €26,917 | €2,101 | -€24,817 | -92.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,881 | €7,217 | -€5,664 | -44.0% |
| Other operating charges | 640/8 | €243 | €262 | +€18 | +7.5% |
| Gross operating margin | 9900 | €41,650 | €22,164 | -€19,486 | -46.8% |
| Operating profit (loss) | 9901 | €1,609 | €12,585 | +€10,976 | +682.3% |
| Financial income | 75/76B | €13 | - | -€13 | |
| Recurring financial income | 75 | €13 | - | -€13 | |
| Financial charges | 65/66B | €669 | €545 | -€123 | -18.5% |
| Recurring financial charges | 65 | €669 | €545 | -€123 | -18.5% |
| Profit (loss) for the period before taxes | 9903 | €952 | €12,039 | +€11,087 | +1164.0% |
| Income taxes | 67/77 | €314 | €3,347 | +€3,032 | +964.5% |
| Profit (loss) for the period | 9904 | €638 | €8,693 | +€8,054 | +1262.2% |
| Profit (loss) for the period to be appropriated | 9905 | €638 | €8,693 | +€8,054 | +1262.2% |
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 6 October 2026 via checked.be.