MARTOTAX: 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.
MARTOTAX
Largest movements
- Cash -€23,175
down €23,175 (-33.1%), from €70,064 to €46,890
mainly Investment in fixed assets (net) (-€45,150) and Tax, wage and social debts (-€7,903)
- Tangible fixed assets +€20,021
up €20,021 (+68.7%), from €29,140 to €49,160
of which Furniture and vehicles: +€21,596
- Receivables within one year -€8,389
down €8,389 (-78.3%), from €10,709 to €2,320
of which Trade receivables: -€10,709
- Tax, wage and social debts -€7,903
down €7,903 (-47.8%), from €16,543 to €8,640
- Profit (loss) carried forward -€1,878
new in 2025: -€1,878
- Trade debts -€1,767
down €1,767 (-52.8%), from €3,347 to €1,580
- Gross operating margin -€15,449
down €15,449 (-34.5%), from €44,809 to €29,360
- Depreciation +€4,463
up €4,463 (+21.2%), from €21,097 to €25,560
- Financial charges +€3,149
up €3,149 (+6144.7%), from €51 to €3,200
- Taxes -€2,983
down €2,983 (-54.4%), from €5,486 to €2,503
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 | €111,389 | €99,415 | -€11,974 | -10.7% |
| Formation expenses | 20 | €1,476 | €1,046 | -€431 | -29.2% |
| Fixed assets | 21/28 | €29,140 | €49,160 | +€20,021 | +68.7% |
| Tangible fixed assets | 22/27 | €29,140 | €49,160 | +€20,021 | +68.7% |
| Plant, machinery and equipment | 23 | €3,245 | €1,669 | -€1,576 | -48.6% |
| Furniture and vehicles | 24 | €25,895 | €47,491 | +€21,596 | +83.4% |
| Current assets | 29/58 | €80,773 | €49,209 | -€31,564 | -39.1% |
| Amounts receivable within one year | 40/41 | €10,709 | €2,320 | -€8,389 | -78.3% |
| Trade receivables | 40 | €10,709 | - | -€10,709 | |
| Other amounts receivable | 41 | - | €2,320 | +€2,320 | |
| Cash at bank and in hand | 54/58 | €70,064 | €46,890 | -€23,175 | -33.1% |
| Total equity and liabilities | 10/49 | €111,389 | €99,415 | -€11,974 | -10.7% |
| Equity | 10/15 | €41,767 | €39,889 | -€1,878 | -4.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €38,767 | €38,767 | = | 0.0% |
| Distributable reserves | 133 | €38,767 | €38,767 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€1,878 | -€1,878 | |
| Amounts payable | 17/49 | €69,622 | €59,527 | -€10,095 | -14.5% |
| Amounts payable after more than one year | 17 | €49,733 | €49,307 | -€426 | -0.9% |
| Other amounts payable | 178/9 | €49,733 | €49,307 | -€426 | -0.9% |
| Amounts payable within one year | 42/48 | €19,890 | €10,220 | -€9,670 | -48.6% |
| Trade debts | 44 | €3,347 | €1,580 | -€1,767 | -52.8% |
| Suppliers | 440/4 | €3,347 | €1,580 | -€1,767 | -52.8% |
| Taxes, remuneration and social security | 45 | €16,543 | €8,640 | -€7,903 | -47.8% |
| Taxes | 450/3 | €16,543 | €8,640 | -€7,903 | -47.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,097 | €25,560 | +€4,463 | +21.2% |
| Other operating charges | 640/8 | €259 | - | -€259 | |
| Gross operating margin | 9900 | €44,809 | €29,360 | -€15,449 | -34.5% |
| Operating profit (loss) | 9901 | €23,454 | €3,800 | -€19,653 | -83.8% |
| Financial income | 75/76B | €0 | €24 | +€24 | +244700.0% |
| Recurring financial income | 75 | €0 | €24 | +€24 | +244700.0% |
| Financial charges | 65/66B | €51 | €3,200 | +€3,149 | +6144.7% |
| Recurring financial charges | 65 | €51 | €3,200 | +€3,149 | +6144.7% |
| Profit (loss) for the period before taxes | 9903 | €23,402 | €625 | -€22,778 | -97.3% |
| Income taxes | 67/77 | €5,486 | €2,503 | -€2,983 | -54.4% |
| Profit (loss) for the period | 9904 | €17,916 | -€1,878 | -€19,794 | |
| Profit (loss) for the period to be appropriated | 9905 | €17,916 | -€1,878 | -€19,794 |
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 8 October 2026 via checked.be.