QA-MARTRANS: 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.
QA-MARTRANS
Largest movements
- Receivables within one year -€252,145
down €252,145 (-54.2%), from €464,975 to €212,830
of which Trade receivables: -€256,051
- Cash +€8,569
up €8,569 (+150%), from €5,706 to €14,275
mainly Receivables within one year (+€252,145) and Depreciation (+€17,196)
- Tax, wage and social debts -€147,482
down €147,482 (-59.3%), from €248,743 to €101,261
of which Taxes: -€116,541
- Trade debts -€61,013
down €61,013 (-15.7%), from €387,729 to €326,716
- Profit (loss) carried forward -€45,378
down €45,378 (-72.0%), from -€62,985 to -€108,363
- Staff costs -€55,797
down €55,797 (-11.8%), from €474,033 to €418,236
- Gross operating margin +€53,922
up €53,922 (+11.3%), from €475,866 to €529,789
- Other operating charges +€26,210
up €26,210 (+40.0%), from €65,491 to €91,701
- Depreciation -€8,269
down €8,269 (-32.5%), from €25,465 to €17,196
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 | €637,241 | €390,478 | -€246,763 | -38.7% |
| Fixed assets | 21/28 | €164,099 | €160,777 | -€3,322 | -2.0% |
| Tangible fixed assets | 22/27 | €32,858 | €29,536 | -€3,322 | -10.1% |
| Furniture and vehicles | 24 | €19,502 | €17,530 | -€1,972 | -10.1% |
| Other tangible fixed assets | 26 | €13,356 | €12,006 | -€1,349 | -10.1% |
| Financial fixed assets | 28 | €131,241 | €131,241 | = | 0.0% |
| Current assets | 29/58 | €473,142 | €229,701 | -€243,442 | -51.5% |
| Amounts receivable within one year | 40/41 | €464,975 | €212,830 | -€252,145 | -54.2% |
| Trade receivables | 40 | €462,258 | €206,207 | -€256,051 | -55.4% |
| Other amounts receivable | 41 | €2,717 | €6,623 | +€3,906 | +144% |
| Cash at bank and in hand | 54/58 | €5,706 | €14,275 | +€8,569 | +150% |
| Deferred charges and accrued income | 490/1 | €2,462 | €2,597 | +€134 | +5.5% |
| Total equity and liabilities | 10/49 | €637,241 | €390,478 | -€246,763 | -38.7% |
| Equity | 10/15 | €770 | -€42,363 | -€43,133 | |
| Contributions | 10/11 | €63,755 | €66,000 | +€2,245 | +3.5% |
| Profit (loss) carried forward | 14 | -€62,985 | -€108,363 | -€45,378 | -72.0% |
| Amounts payable | 17/49 | €636,472 | €432,842 | -€203,630 | -32.0% |
| Amounts payable within one year | 42/48 | €636,472 | €432,842 | -€203,630 | -32.0% |
| Trade debts | 44 | €387,729 | €326,716 | -€61,013 | -15.7% |
| Suppliers | 440/4 | €387,729 | €326,716 | -€61,013 | -15.7% |
| Taxes, remuneration and social security | 45 | €248,743 | €101,261 | -€147,482 | -59.3% |
| Taxes | 450/3 | €154,907 | €38,366 | -€116,541 | -75.2% |
| Remuneration and social security | 454/9 | €93,836 | €62,895 | -€30,941 | -33.0% |
| Other amounts payable | 47/48 | - | €4,865 | +€4,865 | |
| Non-recurring operating income | 76A | €3,172 | €35,206 | +€32,034 | +1,010% |
| Remuneration, social security and pensions | 62 | €474,033 | €418,236 | -€55,797 | -11.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,465 | €17,196 | -€8,269 | -32.5% |
| Other operating charges | 640/8 | €65,491 | €91,701 | +€26,210 | +40.0% |
| Non-recurring operating charges | 66A | €23,585 | €22,376 | -€1,209 | -5.1% |
| Gross operating margin | 9900 | €475,866 | €529,789 | +€53,922 | +11.3% |
| Operating profit (loss) | 9901 | -€112,708 | -€19,720 | +€92,988 | +82.5% |
| Financial income | 75/76B | €101 | €3,033 | +€2,932 | +2,908% |
| Recurring financial income | 75 | €101 | €3,033 | +€2,932 | +2,908% |
| Financial charges | 65/66B | €24,363 | €28,550 | +€4,187 | +17.2% |
| Recurring financial charges | 65 | €24,363 | €27,390 | +€3,027 | +12.4% |
| Non-recurring financial charges | 66B | - | €1,160 | +€1,160 | |
| Profit (loss) for the period before taxes | 9903 | -€136,970 | -€45,237 | +€91,733 | +67.0% |
| Income taxes | 67/77 | €237 | €141 | -€96 | -40.5% |
| Profit (loss) for the period | 9904 | -€137,207 | -€45,378 | +€91,829 | +66.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€137,207 | -€45,378 | +€91,829 | +66.9% |
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 20 October 2026 via checked.be.