MARTINUS: 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.
MARTINUS
Largest movements
- Receivables within one year -€46,774
down €46,774 (-30.3%), from €154,419 to €107,644
of which Trade receivables: -€41,010
- Receivables after one year +€26,538
up €26,538 (+38.3%), from €69,225 to €95,764
- Reserves -€12,291
down €12,291 (-14.9%), from €82,370 to €70,079
of which Distributable reserves: -€12,291
- Trade debts -€7,224
down €7,224 (-86.9%), from €8,311 to €1,087
- Tax, wage and social debts -€3,099
no longer reported in 2025 (was €3,099)
- Other operating charges +€21,826
up €21,826 (+959.7%), from €2,274 to €24,100
- Gross operating margin +€8,299
up €8,299 (+887.4%), from €935 to €9,234
- Taxes -€2,201
new in 2025: -€2,201
- Financial charges -€1,137
down €1,137 (-74.0%), from €1,536 to €399
- Financial income +€385
up €385 (+45.6%), from €843 to €1,228
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 | €235,037 | €212,424 | -€22,614 | -9.6% |
| Fixed assets | 21/28 | €831 | €376 | -€455 | -54.7% |
| Tangible fixed assets | 22/27 | €831 | €376 | -€455 | -54.7% |
| Plant, machinery and equipment | 23 | €831 | €376 | -€455 | -54.7% |
| Current assets | 29/58 | €234,206 | €212,047 | -€22,159 | -9.5% |
| Amounts receivable after more than one year | 29 | €69,225 | €95,764 | +€26,538 | +38.3% |
| Other amounts receivable | 291 | €69,225 | €95,764 | +€26,538 | +38.3% |
| Amounts receivable within one year | 40/41 | €154,419 | €107,644 | -€46,774 | -30.3% |
| Trade receivables | 40 | €41,010 | - | -€41,010 | |
| Other amounts receivable | 41 | €113,409 | €107,644 | -€5,764 | -5.1% |
| Cash at bank and in hand | 54/58 | €10,562 | €8,640 | -€1,923 | -18.2% |
| Total equity and liabilities | 10/49 | €235,037 | €212,424 | -€22,614 | -9.6% |
| Equity | 10/15 | €102,370 | €90,079 | -€12,291 | -12.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €82,370 | €70,079 | -€12,291 | -14.9% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €80,370 | €68,079 | -€12,291 | -15.3% |
| Amounts payable | 17/49 | €132,667 | €122,345 | -€10,323 | -7.8% |
| Amounts payable within one year | 42/48 | €132,667 | €122,345 | -€10,323 | -7.8% |
| Trade debts | 44 | €8,311 | €1,087 | -€7,224 | -86.9% |
| Suppliers | 440/4 | €8,311 | €1,087 | -€7,224 | -86.9% |
| Taxes, remuneration and social security | 45 | €3,099 | - | -€3,099 | |
| Taxes | 450/3 | €3,099 | - | -€3,099 | |
| Other amounts payable | 47/48 | €121,258 | €121,258 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €455 | €455 | = | 0.0% |
| Other operating charges | 640/8 | €2,274 | €24,100 | +€21,826 | +959.7% |
| Gross operating margin | 9900 | €935 | €9,234 | +€8,299 | +887.4% |
| Operating profit (loss) | 9901 | -€1,794 | -€15,322 | -€13,527 | -754.0% |
| Financial income | 75/76B | €843 | €1,228 | +€385 | +45.6% |
| Recurring financial income | 75 | €843 | €1,228 | +€385 | +45.6% |
| Financial charges | 65/66B | €1,536 | €399 | -€1,137 | -74.0% |
| Recurring financial charges | 65 | €1,536 | €399 | -€1,137 | -74.0% |
| Profit (loss) for the period before taxes | 9903 | -€2,487 | -€14,492 | -€12,006 | -482.8% |
| Income taxes | 67/77 | - | -€2,201 | -€2,201 | |
| Profit (loss) for the period | 9904 | -€2,487 | -€12,291 | -€9,804 | -394.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,487 | -€12,291 | -€9,804 | -394.3% |
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 12 October 2026 via checked.be.