Stijn Martens: what changed
What changed
Stijn Martens
NACE 69.201, Certified accountants and tax accountants
filed annual accounts (NBB)
Net result for the year
€218,567
2024 · €206,115+€12,452
Equity
€2.0m
2024 · €1.8m+€218,567
Cash
€787,013
2024 · €277,460+€509,553
Balance sheet total
€2.6m
2024 · €2.4m+€276,366
Largest movements
Assets
- Cash +€509,553
up €509,553 (+184%), from €277,460 to €787,013
mainly Current investments (+€232,364) and Net result for the year (+€218,567)
- Current investments -€232,364
down €232,364 (-18.6%), from €1.3m to €1.0m
- Receivables within one year +€56,344
up €56,344 (+8.4%), from €673,271 to €729,615
of which Trade receivables: +€36,371
- Deferred charges and accrued income -€38,935
down €38,935 (-82.3%), from €47,284 to €8,349
Equity and liabilities
- Reserves +€218,567
up €218,567 (+105%), from €207,975 to €426,542
of which Distributable reserves: +€218,567
- Other debts +€41,580
up €41,580 (+11.9%), from €348,239 to €389,819
Income statement
- Gross operating margin +€21,482
up €21,482 (+6.3%), from €341,592 to €363,074
- Taxes +€5,842
up €5,842 (+6.3%), from €93,328 to €99,170
- Financial income -€3,871
down €3,871 (-11.1%), from €34,832 to €30,961
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€206,115
Gross operating margin
+€21,482
Staff costs
-€137
Depreciation
-€136
Write-downs
+€60
Other operating charges
-€200
Financial income
-€3,871
Financial charges
+€1,096
Taxes
-€5,842
Result 2025
€218,567
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€277,796
Investment
+€231,757
Financing
€0
Cash 2024
€277,460
From operations (derived)
+€277,796
Net result for the year
+€218,567
Depreciation
+€18,839
Receivables within one year
-€56,344
Deferred charges and accrued income
+€38,935
Trade debts
+€12,185
Tax, wage and social debts
+€1,448
Other debts
+€41,580
Accrued charges and deferred income
+€2,586
Investment (derived)
+€231,757
Investment in fixed assets (net)
-€607
Current investments
+€232,364
Cash 2025
€787,013
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,360,021 | €2,636,387 | +€276,366 | +11.7% |
| Fixed assets | 21/28 | €112,006 | €93,774 | -€18,232 | -16.3% |
| Tangible fixed assets | 22/27 | €112,006 | €93,774 | -€18,232 | -16.3% |
| Land and buildings | 22 | €75,313 | €65,517 | -€9,796 | -13.0% |
| Plant, machinery and equipment | 23 | €3,339 | €2,363 | -€976 | -29.2% |
| Furniture and vehicles | 24 | €4,285 | €2,415 | -€1,870 | -43.6% |
| Other tangible fixed assets | 26 | €29,069 | €23,479 | -€5,590 | -19.2% |
| Current assets | 29/58 | €2,248,015 | €2,542,613 | +€294,598 | +13.1% |
| Amounts receivable within one year | 40/41 | €673,271 | €729,615 | +€56,344 | +8.4% |
| Trade receivables | 40 | €670,884 | €707,255 | +€36,371 | +5.4% |
| Other amounts receivable | 41 | €2,387 | €22,360 | +€19,973 | +837% |
| Current investments | 50/53 | €1,250,000 | €1,017,636 | -€232,364 | -18.6% |
| Cash at bank and in hand | 54/58 | €277,460 | €787,013 | +€509,553 | +184% |
| Deferred charges and accrued income | 490/1 | €47,284 | €8,349 | -€38,935 | -82.3% |
| Total equity and liabilities | 10/49 | €2,360,021 | €2,636,387 | +€276,366 | +11.7% |
| Equity | 10/15 | €1,828,097 | €2,046,664 | +€218,567 | +12.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €207,975 | €426,542 | +€218,567 | +105% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €206,115 | €424,682 | +€218,567 | +106% |
| Profit (loss) carried forward | 14 | €1,601,522 | €1,601,522 | = | 0.0% |
| Amounts payable | 17/49 | €531,924 | €589,723 | +€57,799 | +10.9% |
| Amounts payable after more than one year | 17 | €84,134 | €84,134 | = | 0.0% |
| Financial debts | 170/4 | €81,184 | €81,184 | = | 0.0% |
| Other amounts payable | 178/9 | €2,950 | €2,950 | = | 0.0% |
| Amounts payable within one year | 42/48 | €415,310 | €470,523 | +€55,213 | +13.3% |
| Trade debts | 44 | €18,011 | €30,196 | +€12,185 | +67.7% |
| Suppliers | 440/4 | €18,011 | €30,196 | +€12,185 | +67.7% |
| Taxes, remuneration and social security | 45 | €49,060 | €50,508 | +€1,448 | +3.0% |
| Taxes | 450/3 | €45,656 | €47,450 | +€1,794 | +3.9% |
| Remuneration and social security | 454/9 | €3,404 | €3,058 | -€346 | -10.2% |
| Other amounts payable | 47/48 | €348,239 | €389,819 | +€41,580 | +11.9% |
| Accrued charges and deferred income | 492/3 | €32,480 | €35,066 | +€2,586 | +8.0% |
| Remuneration, social security and pensions | 62 | €22,060 | €22,197 | +€137 | +0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,703 | €18,839 | +€136 | +0.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €210 | €150 | -€60 | -28.6% |
| Other operating charges | 640/8 | €3,809 | €4,009 | +€200 | +5.3% |
| Gross operating margin | 9900 | €341,592 | €363,074 | +€21,482 | +6.3% |
| Operating profit (loss) | 9901 | €296,810 | €317,879 | +€21,069 | +7.1% |
| Financial income | 75/76B | €34,832 | €30,961 | -€3,871 | -11.1% |
| Recurring financial income | 75 | €34,832 | €30,961 | -€3,871 | -11.1% |
| Financial charges | 65/66B | €32,199 | €31,103 | -€1,096 | -3.4% |
| Recurring financial charges | 65 | €32,199 | €31,103 | -€1,096 | -3.4% |
| Profit (loss) for the period before taxes | 9903 | €299,443 | €317,737 | +€18,294 | +6.1% |
| Income taxes | 67/77 | €93,328 | €99,170 | +€5,842 | +6.3% |
| Profit (loss) for the period | 9904 | €206,115 | €218,567 | +€12,452 | +6.0% |
| Profit (loss) for the period to be appropriated | 9905 | €206,115 | €218,567 | +€12,452 | +6.0% |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.