MARTIVER: 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.
MARTIVER
Largest movements
- Receivables within one year -€16,951
down €16,951 (-38.8%), from €43,673 to €26,722
of which Other amounts receivable: -€12,963
- Tangible fixed assets -€12,483
down €12,483 (-19.1%), from €65,455 to €52,973
- Receivables after one year +€1,678
up €1,678 (+4.1%), from €41,117 to €42,795
- Debts after one year -€15,804
down €15,804 (-40.0%), from €39,542 to €23,738
- Profit (loss) carried forward -€11,208
down €11,208 (-69.9%), from -€16,032 to -€27,241
- Gross operating margin -€9,315
down €9,315 (-68.5%), from €13,602 to €4,287
- Financial income +€886
up €886 (+82.1%), from €1,080 to €1,966
- Other operating charges -€765
down €765 (-33.1%), from €2,307 to €1,542
- Financial charges -€391
down €391 (-10.8%), from €3,627 to €3,236
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €150,709 | €123,420 | -€27,289 | -18.1% |
| Fixed assets | 21/28 | €65,455 | €52,973 | -€12,483 | -19.1% |
| Tangible fixed assets | 22/27 | €65,455 | €52,973 | -€12,483 | -19.1% |
| Furniture and vehicles | 24 | €65,455 | €52,973 | -€12,483 | -19.1% |
| Current assets | 29/58 | €85,254 | €70,447 | -€14,806 | -17.4% |
| Amounts receivable after more than one year | 29 | €41,117 | €42,795 | +€1,678 | +4.1% |
| Other amounts receivable | 291 | €41,117 | €42,795 | +€1,678 | +4.1% |
| Amounts receivable within one year | 40/41 | €43,673 | €26,722 | -€16,951 | -38.8% |
| Trade receivables | 40 | €7,807 | €3,819 | -€3,988 | -51.1% |
| Other amounts receivable | 41 | €35,866 | €22,903 | -€12,963 | -36.1% |
| Cash at bank and in hand | 54/58 | €1 | €541 | +€540 | +96458.9% |
| Deferred charges and accrued income | 490/1 | €464 | €390 | -€74 | -15.9% |
| Total equity and liabilities | 10/49 | €150,709 | €123,420 | -€27,289 | -18.1% |
| Equity | 10/15 | €92,550 | €81,342 | -€11,208 | -12.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €89,990 | €89,990 | = | 0.0% |
| Distributable reserves | 133 | €89,990 | €89,990 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€16,032 | -€27,241 | -€11,208 | -69.9% |
| Amounts payable | 17/49 | €58,159 | €42,078 | -€16,081 | -27.6% |
| Amounts payable after more than one year | 17 | €39,542 | €23,738 | -€15,804 | -40.0% |
| Financial debts | 170/4 | €39,542 | €23,738 | -€15,804 | -40.0% |
| Amounts payable within one year | 42/48 | €18,618 | €18,341 | -€277 | -1.5% |
| Current portion of amounts payable after more than one year | 42 | €15,058 | €15,804 | +€746 | +5.0% |
| Trade debts | 44 | €1,342 | €119 | -€1,223 | -91.1% |
| Suppliers | 440/4 | €1,342 | €119 | -€1,223 | -91.1% |
| Taxes, remuneration and social security | 45 | €2,218 | €2,418 | +€200 | +9.0% |
| Taxes | 450/3 | €1,218 | €2,418 | +€1,200 | +98.5% |
| Remuneration and social security | 454/9 | €1,000 | - | -€1,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,565 | €12,483 | -€82 | -0.7% |
| Other operating charges | 640/8 | €2,307 | €1,542 | -€765 | -33.1% |
| Gross operating margin | 9900 | €13,602 | €4,287 | -€9,315 | -68.5% |
| Operating profit (loss) | 9901 | -€1,270 | -€9,738 | -€8,468 | -666.6% |
| Financial income | 75/76B | €1,080 | €1,966 | +€886 | +82.1% |
| Recurring financial income | 75 | €1,080 | €1,966 | +€886 | +82.1% |
| Financial charges | 65/66B | €3,627 | €3,236 | -€391 | -10.8% |
| Recurring financial charges | 65 | €3,627 | €3,236 | -€391 | -10.8% |
| Profit (loss) for the period before taxes | 9903 | -€3,817 | -€11,008 | -€7,191 | -188.4% |
| Income taxes | 67/77 | €218 | €200 | -€18 | -8.3% |
| Profit (loss) for the period | 9904 | -€4,035 | -€11,208 | -€7,173 | -177.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,035 | -€11,208 | -€7,173 | -177.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.