Bert Matten: 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.
Bert Matten
Largest movements
- Cash -€29,461
down €29,461 (-83.7%), from €35,212 to €5,751
mainly Receivables after one year (-€17,295) and Debts after one year (-€16,244)
- Tangible fixed assets -€21,572
down €21,572 (-30.8%), from €69,994 to €48,423
of which Furniture and vehicles: -€19,165
- Receivables after one year +€17,295
up €17,295 (+62.3%), from €27,776 to €45,071
- Financial fixed assets +€9,000
new in 2025: €9,000
- Debts after one year -€16,244
down €16,244 (-43.3%), from €37,496 to €21,251
- Reserves -€4,271
down €4,271 (-6.7%), from €64,010 to €59,740
of which Distributable reserves: -€4,271
- Current portion of long-term debt -€2,558
down €2,558 (-12.5%), from €20,495 to €17,936
- Gross operating margin -€38,279
down €38,279 (-64.0%), from €59,791 to €21,512
- Taxes -€7,014
down €7,014 (-97.3%), from €7,212 to €198
- Depreciation -€3,691
down €3,691 (-14.6%), from €25,263 to €21,572
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 | €145,585 | €122,181 | -€23,404 | -16.1% |
| Fixed assets | 21/28 | €69,994 | €57,423 | -€12,572 | -18.0% |
| Tangible fixed assets | 22/27 | €69,994 | €48,423 | -€21,572 | -30.8% |
| Plant, machinery and equipment | 23 | €1,524 | €1,106 | -€418 | -27.4% |
| Furniture and vehicles | 24 | €62,224 | €43,059 | -€19,165 | -30.8% |
| Other tangible fixed assets | 26 | €6,246 | €4,258 | -€1,988 | -31.8% |
| Financial fixed assets | 28 | - | €9,000 | +€9,000 | |
| Current assets | 29/58 | €75,591 | €64,759 | -€10,832 | -14.3% |
| Amounts receivable after more than one year | 29 | €27,776 | €45,071 | +€17,295 | +62.3% |
| Other amounts receivable | 291 | €27,776 | €45,071 | +€17,295 | +62.3% |
| Amounts receivable within one year | 40/41 | €11,866 | €13,015 | +€1,149 | +9.7% |
| Trade receivables | 40 | €8,196 | €8,164 | -€31 | -0.4% |
| Other amounts receivable | 41 | €3,670 | €4,851 | +€1,181 | +32.2% |
| Cash at bank and in hand | 54/58 | €35,212 | €5,751 | -€29,461 | -83.7% |
| Deferred charges and accrued income | 490/1 | €736 | €921 | +€185 | +25.1% |
| Total equity and liabilities | 10/49 | €145,585 | €122,181 | -€23,404 | -16.1% |
| Equity | 10/15 | €82,610 | €78,340 | -€4,271 | -5.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €64,010 | €59,740 | -€4,271 | -6.7% |
| Tax-exempt reserves | 132 | €7,765 | €7,765 | = | 0.0% |
| Distributable reserves | 133 | €56,245 | €51,974 | -€4,271 | -7.6% |
| Amounts payable | 17/49 | €62,975 | €43,842 | -€19,133 | -30.4% |
| Amounts payable after more than one year | 17 | €37,496 | €21,251 | -€16,244 | -43.3% |
| Financial debts | 170/4 | €37,496 | €21,251 | -€16,244 | -43.3% |
| Amounts payable within one year | 42/48 | €25,479 | €22,590 | -€2,888 | -11.3% |
| Current portion of amounts payable after more than one year | 42 | €20,495 | €17,936 | -€2,558 | -12.5% |
| Trade debts | 44 | €816 | €120 | -€696 | -85.2% |
| Suppliers | 440/4 | €816 | €120 | -€696 | -85.2% |
| Taxes, remuneration and social security | 45 | €4,168 | €3,874 | -€294 | -7.1% |
| Taxes | 450/3 | €4,168 | €3,874 | -€294 | -7.1% |
| Other amounts payable | 47/48 | - | €660 | +€660 | |
| Non-recurring operating income | 76A | €20,769 | - | -€20,769 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,263 | €21,572 | -€3,691 | -14.6% |
| Other operating charges | 640/8 | €1,326 | €1,031 | -€295 | -22.2% |
| Gross operating margin | 9900 | €59,791 | €21,512 | -€38,279 | -64.0% |
| Operating profit (loss) | 9901 | €33,202 | -€1,091 | -€34,293 | |
| Financial income | 75/76B | €297 | - | -€297 | |
| Recurring financial income | 75 | €297 | - | -€297 | |
| Financial charges | 65/66B | €2,250 | €2,149 | -€101 | -4.5% |
| Recurring financial charges | 65 | €2,250 | €2,149 | -€101 | -4.5% |
| Profit (loss) for the period before taxes | 9903 | €31,250 | -€3,240 | -€34,490 | |
| Income taxes | 67/77 | €7,212 | €198 | -€7,014 | -97.3% |
| Profit (loss) for the period | 9904 | €24,038 | -€3,438 | -€27,476 | |
| Profit (loss) for the period to be appropriated | 9905 | €24,038 | -€3,438 | -€27,476 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.