Simon Martens: 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.
Simon Martens
Largest movements
- Tangible fixed assets -€15,920
down €15,920 (-15.9%), from €100,345 to €84,425
of which Furniture and vehicles: -€10,387
- Cash +€10,718
up €10,718 (+61.3%), from €17,496 to €28,214
mainly Depreciation (+€15,920) and Accrued charges and deferred income (+€2,858)
- Deferred charges and accrued income +€1,596
new in 2025: €1,596
- Other debts -€5,002
down €5,002 (-6.0%), from €83,929 to €78,927
- Accrued charges and deferred income +€2,858
new in 2025: €2,858
- Tax, wage and social debts -€2,202
down €2,202 (-35.4%), from €6,221 to €4,019
- Depreciation +€11,325
up €11,325 (+246%), from €4,595 to €15,920
- Gross operating margin -€6,848
down €6,848 (-27.1%), from €25,253 to €18,405
- Taxes -€5,002
down €5,002 (-85.5%), from €5,851 to €849
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 | €121,628 | €119,229 | -€2,399 | -2.0% |
| Fixed assets | 21/28 | €100,345 | €84,425 | -€15,920 | -15.9% |
| Tangible fixed assets | 22/27 | €100,345 | €84,425 | -€15,920 | -15.9% |
| Plant, machinery and equipment | 23 | €10,843 | €9,467 | -€1,375 | -12.7% |
| Furniture and vehicles | 24 | €49,772 | €39,385 | -€10,387 | -20.9% |
| Other tangible fixed assets | 26 | €39,730 | €35,573 | -€4,158 | -10.5% |
| Current assets | 29/58 | €21,283 | €34,804 | +€13,521 | +63.5% |
| Amounts receivable within one year | 40/41 | €3,787 | €4,994 | +€1,207 | +31.9% |
| Trade receivables | 40 | - | €4,994 | +€4,994 | |
| Other amounts receivable | 41 | €3,787 | €0 | -€3,787 | -100% |
| Cash at bank and in hand | 54/58 | €17,496 | €28,214 | +€10,718 | +61.3% |
| Deferred charges and accrued income | 490/1 | - | €1,596 | +€1,596 | |
| Total equity and liabilities | 10/49 | €121,628 | €119,229 | -€2,399 | -2.0% |
| Equity | 10/15 | €29,402 | €30,348 | +€946 | +3.2% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €14,402 | €15,348 | +€946 | +6.6% |
| Distributable reserves | 133 | €14,402 | €15,348 | +€946 | +6.6% |
| Amounts payable | 17/49 | €92,226 | €88,881 | -€3,345 | -3.6% |
| Amounts payable within one year | 42/48 | €92,226 | €86,023 | -€6,204 | -6.7% |
| Trade debts | 44 | €2,077 | €3,077 | +€1,000 | +48.2% |
| Suppliers | 440/4 | €2,077 | €3,077 | +€1,000 | +48.2% |
| Taxes, remuneration and social security | 45 | €6,221 | €4,019 | -€2,202 | -35.4% |
| Taxes | 450/3 | €6,221 | €4,019 | -€2,202 | -35.4% |
| Other amounts payable | 47/48 | €83,929 | €78,927 | -€5,002 | -6.0% |
| Accrued charges and deferred income | 492/3 | - | €2,858 | +€2,858 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,595 | €15,920 | +€11,325 | +246% |
| Other operating charges | 640/8 | €387 | €636 | +€249 | +64.2% |
| Gross operating margin | 9900 | €25,253 | €18,405 | -€6,848 | -27.1% |
| Operating profit (loss) | 9901 | €20,270 | €1,849 | -€18,422 | -90.9% |
| Financial charges | 65/66B | €18 | €54 | +€36 | +206% |
| Recurring financial charges | 65 | €18 | €54 | +€36 | +206% |
| Profit (loss) for the period before taxes | 9903 | €20,253 | €1,795 | -€18,458 | -91.1% |
| Income taxes | 67/77 | €5,851 | €849 | -€5,002 | -85.5% |
| Profit (loss) for the period | 9904 | €14,402 | €946 | -€13,456 | -93.4% |
| Profit (loss) for the period to be appropriated | 9905 | €14,402 | €946 | -€13,456 | -93.4% |
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 24 October 2026 via checked.be.