Aurélie MATHIEU: 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.
Aurélie MATHIEU
Largest movements
- Tangible fixed assets -€5,777
down €5,777 (-80.0%), from €7,221 to €1,444
- Receivables within one year -€3,945
down €3,945 (-8.9%), from €44,120 to €40,175
of which Trade receivables: -€3,050
- Cash +€1,738
up €1,738 (+9.9%), from €17,493 to €19,231
mainly Net result for the year (+€20,880) and Other debts (+€11,506)
- Reserves -€19,000
no longer reported in 2025 (was €19,000)
- Other debts +€11,506
up €11,506 (+102.2%), from €11,261 to €22,767
- Profit (loss) carried forward +€880
up €880 (+377.7%), from €233 to €1,113
- Trade debts -€807
down €807 (-28.3%), from €2,850 to €2,043
- Tax, wage and social debts -€737
down €737 (-7.0%), from €10,564 to €9,827
- Gross operating margin +€5,170
up €5,170 (+18.1%), from €28,487 to €33,657
- Taxes +€1,078
up €1,078 (+21.2%), from €5,075 to €6,153
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 | €69,008 | €60,850 | -€8,158 | -11.8% |
| Fixed assets | 21/28 | €7,221 | €1,444 | -€5,777 | -80.0% |
| Tangible fixed assets | 22/27 | €7,221 | €1,444 | -€5,777 | -80.0% |
| Furniture and vehicles | 24 | €7,221 | €1,444 | -€5,777 | -80.0% |
| Current assets | 29/58 | €61,787 | €59,406 | -€2,381 | -3.9% |
| Amounts receivable within one year | 40/41 | €44,120 | €40,175 | -€3,945 | -8.9% |
| Trade receivables | 40 | €36,300 | €33,250 | -€3,050 | -8.4% |
| Other amounts receivable | 41 | €7,820 | €6,925 | -€895 | -11.4% |
| Cash at bank and in hand | 54/58 | €17,493 | €19,231 | +€1,738 | +9.9% |
| Deferred charges and accrued income | 490/1 | €174 | - | -€174 | |
| Total equity and liabilities | 10/49 | €69,008 | €60,850 | -€8,158 | -11.8% |
| Equity | 10/15 | €37,833 | €19,713 | -€18,120 | -47.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €19,000 | - | -€19,000 | |
| Distributable reserves | 133 | €19,000 | - | -€19,000 | |
| Profit (loss) carried forward | 14 | €233 | €1,113 | +€880 | +377.7% |
| Amounts payable | 17/49 | €31,175 | €41,137 | +€9,962 | +32.0% |
| Amounts payable within one year | 42/48 | €24,675 | €34,637 | +€9,962 | +40.4% |
| Trade debts | 44 | €2,850 | €2,043 | -€807 | -28.3% |
| Suppliers | 440/4 | €2,850 | €2,043 | -€807 | -28.3% |
| Taxes, remuneration and social security | 45 | €10,564 | €9,827 | -€737 | -7.0% |
| Taxes | 450/3 | €10,564 | €9,827 | -€737 | -7.0% |
| Other amounts payable | 47/48 | €11,261 | €22,767 | +€11,506 | +102.2% |
| Accrued charges and deferred income | 492/3 | €6,500 | €6,500 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,099 | €5,777 | -€322 | -5.3% |
| Other operating charges | 640/8 | €673 | €695 | +€22 | +3.3% |
| Gross operating margin | 9900 | €28,487 | €33,657 | +€5,170 | +18.1% |
| Operating profit (loss) | 9901 | €21,715 | €27,185 | +€5,470 | +25.2% |
| Financial charges | 65/66B | €114 | €152 | +€38 | +33.3% |
| Recurring financial charges | 65 | €114 | €152 | +€38 | +33.3% |
| Profit (loss) for the period before taxes | 9903 | €21,601 | €27,033 | +€5,432 | +25.1% |
| Income taxes | 67/77 | €5,075 | €6,153 | +€1,078 | +21.2% |
| Profit (loss) for the period | 9904 | €16,526 | €20,880 | +€4,354 | +26.3% |
| Profit (loss) for the period to be appropriated | 9905 | €16,526 | €20,880 | +€4,354 | +26.3% |
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 1 October 2026 via checked.be.