MARTRIS: 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.
MARTRIS
Largest movements
- Receivables within one year -€1.4m
down €1.4m (-99.8%), from €1.4m to €2,319
- Tangible fixed assets +€942,731
up €942,731 (+27.1%), from €3.5m to €4.4m
of which Land and buildings: +€884,289
- Debts after one year -€339,166
down €339,166 (-17.6%), from €1.9m to €1.6m
- Reserves +€257,482
up €257,482 (+16.4%), from €1.6m to €1.8m
of which Distributable reserves: +€257,482
- Current portion of long-term debt -€195,834
down €195,834 (-83.3%), from €235,000 to €39,166
- Provisions -€124,200
down €124,200 (-38.8%), from €319,931 to €195,731
- Trade debts +€92,461
up €92,461 (+11.8%), from €786,207 to €878,668
- Gross operating margin +€265,686
up €265,686 (+77.2%), from €344,369 to €610,055
- Provisions +€180,479
up €180,479 (+59.2%), from -€304,679 to -€124,200
- Depreciation +€77,418
up €77,418 (+35.5%), from €218,216 to €295,634
- Taxes +€15,827
up €15,827 (+42.1%), from €37,558 to €53,385
- Financial income +€8,968
up €8,968 (+79.9%), from €11,219 to €20,187
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 | €5,280,479 | €4,887,688 | -€392,791 | -7.4% |
| Fixed assets | 21/28 | €3,482,112 | €4,424,843 | +€942,731 | +27.1% |
| Tangible fixed assets | 22/27 | €3,482,112 | €4,424,843 | +€942,731 | +27.1% |
| Land and buildings | 22 | €3,466,085 | €4,350,374 | +€884,289 | +25.5% |
| Plant, machinery and equipment | 23 | €1,560 | €12,639 | +€11,079 | +710.2% |
| Furniture and vehicles | 24 | €14,468 | €61,831 | +€47,363 | +327.4% |
| Current assets | 29/58 | €1,798,367 | €462,845 | -€1.3m | -74.3% |
| Amounts receivable within one year | 40/41 | €1,405,730 | €2,319 | -€1.4m | -99.8% |
| Trade receivables | 40 | €1,405,730 | €2,319 | -€1.4m | -99.8% |
| Current investments | 50/53 | €338,645 | €365,959 | +€27,314 | +8.1% |
| Cash at bank and in hand | 54/58 | €53,992 | €93,216 | +€39,224 | +72.6% |
| Deferred charges and accrued income | 490/1 | - | €1,352 | +€1,352 | |
| Total equity and liabilities | 10/49 | €5,280,479 | €4,887,688 | -€392,791 | -7.4% |
| Equity | 10/15 | €1,858,919 | €2,116,401 | +€257,482 | +13.9% |
| Contributions | 10/11 | €208,231 | €208,231 | = | 0.0% |
| Capital | 10 | €208,231 | €208,231 | = | 0.0% |
| Issued capital | 100 | €208,231 | €208,231 | = | 0.0% |
| Revaluation surpluses | 12 | €75,940 | €75,940 | = | 0.0% |
| Reserves | 13 | €1,574,749 | €1,832,231 | +€257,482 | +16.4% |
| Non-distributable reserves | 130/1 | €20,823 | €20,823 | = | 0.0% |
| Legal reserve | 130 | €20,823 | €20,823 | = | 0.0% |
| Tax-exempt reserves | 132 | €17,353 | €17,353 | = | 0.0% |
| Distributable reserves | 133 | €1,536,573 | €1,794,055 | +€257,482 | +16.8% |
| Provisions and deferred taxes | 16 | €319,931 | €195,731 | -€124,200 | -38.8% |
| Provisions for liabilities and charges | 160/5 | €319,931 | €195,731 | -€124,200 | -38.8% |
| Major repairs and maintenance | 162 | €319,931 | €195,731 | -€124,200 | -38.8% |
| Amounts payable | 17/49 | €3,101,629 | €2,575,556 | -€526,073 | -17.0% |
| Amounts payable after more than one year | 17 | €1,929,166 | €1,590,000 | -€339,166 | -17.6% |
| Financial debts | 170/4 | €1,929,166 | €1,590,000 | -€339,166 | -17.6% |
| Amounts payable within one year | 42/48 | €1,172,463 | €984,181 | -€188,282 | -16.1% |
| Current portion of amounts payable after more than one year | 42 | €235,000 | €39,166 | -€195,834 | -83.3% |
| Trade debts | 44 | €786,207 | €878,668 | +€92,461 | +11.8% |
| Suppliers | 440/4 | €786,207 | €878,668 | +€92,461 | +11.8% |
| Taxes, remuneration and social security | 45 | €37,884 | €23,561 | -€14,323 | -37.8% |
| Taxes | 450/3 | €22,048 | €8,582 | -€13,465 | -61.1% |
| Remuneration and social security | 454/9 | €15,836 | €14,979 | -€858 | -5.4% |
| Other amounts payable | 47/48 | €113,372 | €42,785 | -€70,587 | -62.3% |
| Accrued charges and deferred income | 492/3 | - | €1,375 | +€1,375 | |
| Remuneration, social security and pensions | 62 | €95,212 | €94,790 | -€422 | -0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €218,216 | €295,634 | +€77,418 | +35.5% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€304,679 | -€124,200 | +€180,479 | +59.2% |
| Other operating charges | 640/8 | €48,583 | €52,014 | +€3,431 | +7.1% |
| Gross operating margin | 9900 | €344,369 | €610,055 | +€265,686 | +77.2% |
| Operating profit (loss) | 9901 | €287,037 | €291,816 | +€4,779 | +1.7% |
| Financial income | 75/76B | €11,219 | €20,187 | +€8,968 | +79.9% |
| Recurring financial income | 75 | €11,219 | €20,187 | +€8,968 | +79.9% |
| Financial charges | 65/66B | €1,426 | €1,136 | -€290 | -20.3% |
| Recurring financial charges | 65 | €1,426 | €1,136 | -€290 | -20.3% |
| Profit (loss) for the period before taxes | 9903 | €296,830 | €310,867 | +€14,037 | +4.7% |
| Income taxes | 67/77 | €37,558 | €53,385 | +€15,827 | +42.1% |
| Profit (loss) for the period | 9904 | €259,272 | €257,482 | -€1,790 | -0.7% |
| Profit (loss) for the period to be appropriated | 9905 | €259,272 | €257,482 | -€1,790 | -0.7% |
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.