MARTINFOR: 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.
MARTINFOR
Largest movements
- Receivables within one year -€30,000
no longer reported in 2025 (was €30,000)
- Deferred charges and accrued income -€29,400
down €29,400 (-91.9%), from €32,000 to €2,600
- Cash +€13,628
up €13,628 (+138%), from €9,890 to €23,518
mainly Receivables within one year (+€30,000) and Deferred charges and accrued income (+€29,400)
- Contributions -€79,999
down €79,999 (-100.0%), from €80,000 to €1
- Tax, wage and social debts -€21,048
down €21,048 (-77.8%), from €27,042 to €5,994
of which Taxes: -€11,053
- Accrued charges and deferred income +€18,000
new in 2025: €18,000
- Profit (loss) carried forward +€15,698
up €15,698 (+97.8%), from -€16,052 to -€354
- Trade debts +€12,178
new in 2025: €12,178
- Gross operating margin +€10,299
up €10,299 (+22.4%), from €45,989 to €56,288
- Financial charges -€5,783
down €5,783 (-98.9%), from €5,845 to €62
- Staff costs +€5,346
up €5,346 (+15.4%), from €34,782 to €40,128
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 | €91,890 | €46,118 | -€45,772 | -49.8% |
| Fixed assets | 21/28 | €20,000 | €20,000 | = | 0.0% |
| Financial fixed assets | 28 | €20,000 | €20,000 | = | 0.0% |
| Current assets | 29/58 | €71,890 | €26,118 | -€45,772 | -63.7% |
| Amounts receivable within one year | 40/41 | €30,000 | - | -€30,000 | |
| Trade receivables | 40 | €30,000 | - | -€30,000 | |
| Cash at bank and in hand | 54/58 | €9,890 | €23,518 | +€13,628 | +138% |
| Deferred charges and accrued income | 490/1 | €32,000 | €2,600 | -€29,400 | -91.9% |
| Total equity and liabilities | 10/49 | €91,890 | €46,118 | -€45,772 | -49.8% |
| Equity | 10/15 | €63,948 | -€353 | -€64,301 | |
| Contributions | 10/11 | €80,000 | €1 | -€79,999 | -100.0% |
| Profit (loss) carried forward | 14 | -€16,052 | -€354 | +€15,698 | +97.8% |
| Amounts payable | 17/49 | €27,942 | €46,471 | +€18,529 | +66.3% |
| Amounts payable within one year | 42/48 | €27,942 | €28,471 | +€529 | +1.9% |
| Trade debts | 44 | - | €12,178 | +€12,178 | |
| Suppliers | 440/4 | - | €12,178 | +€12,178 | |
| Taxes, remuneration and social security | 45 | €27,042 | €5,994 | -€21,048 | -77.8% |
| Taxes | 450/3 | €12,661 | €1,608 | -€11,053 | -87.3% |
| Remuneration and social security | 454/9 | €14,381 | €4,386 | -€9,995 | -69.5% |
| Other amounts payable | 47/48 | €900 | €10,299 | +€9,399 | +1,044% |
| Accrued charges and deferred income | 492/3 | - | €18,000 | +€18,000 | |
| Remuneration, social security and pensions | 62 | €34,782 | €40,128 | +€5,346 | +15.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39 | - | -€39 | |
| Other operating charges | 640/8 | €125 | €400 | +€275 | +220% |
| Gross operating margin | 9900 | €45,989 | €56,288 | +€10,299 | +22.4% |
| Operating profit (loss) | 9901 | €11,043 | €15,761 | +€4,718 | +42.7% |
| Financial charges | 65/66B | €5,845 | €62 | -€5,783 | -98.9% |
| Recurring financial charges | 65 | €5,845 | €62 | -€5,783 | -98.9% |
| Profit (loss) for the period before taxes | 9903 | €5,198 | €15,698 | +€10,500 | +202% |
| Profit (loss) for the period | 9904 | €5,198 | €15,698 | +€10,500 | +202% |
| Profit (loss) for the period to be appropriated | 9905 | €5,198 | €15,698 | +€10,500 | +202% |
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 19 October 2026 via checked.be.