CLAUDINE MATHIEU: 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.
CLAUDINE MATHIEU
Largest movements
- Cash +€13,043
up €13,043 (+21.7%), from €60,091 to €73,133
mainly Net result for the year (+€13,374) and Receivables within one year (+€3,292)
- Receivables within one year -€3,292
no longer reported in 2025 (was €3,292)
- Reserves +€13,374
up €13,374 (+25.6%), from €52,294 to €65,668
- Current portion of long-term debt -€3,533
no longer reported in 2025 (was €3,533)
- Depreciation -€3,708
no longer reported in 2025 (was €3,708)
- Gross operating margin +€3,147
up €3,147 (+20.2%), from €15,610 to €18,756
- Taxes +€1,746
up €1,746 (+34.8%), from €5,014 to €6,760
- Other operating charges -€1,303
down €1,303 (-56.4%), from €2,308 to €1,005
- Financial income -€872
down €872 (-25.6%), from €3,398 to €2,527
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 | €144,624 | €154,435 | +€9,811 | +6.8% |
| Current assets | 29/58 | €144,624 | €154,435 | +€9,811 | +6.8% |
| Amounts receivable within one year | 40/41 | €3,292 | - | -€3,292 | |
| Trade receivables | 40 | €3,292 | - | -€3,292 | |
| Current investments | 50/53 | €80,000 | €80,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €60,091 | €73,133 | +€13,043 | +21.7% |
| Deferred charges and accrued income | 490/1 | €1,242 | €1,302 | +€60 | +4.8% |
| Total equity and liabilities | 10/49 | €144,624 | €154,435 | +€9,811 | +6.8% |
| Equity | 10/15 | €138,974 | €152,348 | +€13,374 | +9.6% |
| Reserves | 13 | €52,294 | €65,668 | +€13,374 | +25.6% |
| Distributable reserves | 133 | €52,294 | €65,668 | +€13,374 | +25.6% |
| Profit (loss) carried forward | 14 | €86,680 | €86,680 | = | 0.0% |
| Amounts payable | 17/49 | €5,650 | €2,087 | -€3,563 | -63.1% |
| Amounts payable within one year | 42/48 | €5,650 | €2,087 | -€3,563 | -63.1% |
| Current portion of amounts payable after more than one year | 42 | €3,533 | - | -€3,533 | |
| Trade debts | 44 | €687 | €26 | -€661 | -96.2% |
| Suppliers | 440/4 | €687 | €26 | -€661 | -96.2% |
| Taxes, remuneration and social security | 45 | €1,421 | €2,040 | +€619 | +43.5% |
| Taxes | 450/3 | €1,421 | €2,040 | +€619 | +43.5% |
| Other amounts payable | 47/48 | €9 | €21 | +€12 | +137.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,708 | - | -€3,708 | |
| Other operating charges | 640/8 | €2,308 | €1,005 | -€1,303 | -56.4% |
| Gross operating margin | 9900 | €15,610 | €18,756 | +€3,147 | +20.2% |
| Operating profit (loss) | 9901 | €9,593 | €17,751 | +€8,158 | +85.0% |
| Financial income | 75/76B | €3,398 | €2,527 | -€872 | -25.6% |
| Recurring financial income | 75 | €3,398 | €2,527 | -€872 | -25.6% |
| Financial charges | 65/66B | €170 | €143 | -€27 | -15.7% |
| Recurring financial charges | 65 | €170 | €143 | -€27 | -15.7% |
| Profit (loss) for the period before taxes | 9903 | €12,822 | €20,134 | +€7,313 | +57.0% |
| Income taxes | 67/77 | €5,014 | €6,760 | +€1,746 | +34.8% |
| Profit (loss) for the period | 9904 | €7,808 | €13,374 | +€5,566 | +71.3% |
| Profit (loss) for the period to be appropriated | 9905 | €7,808 | €13,374 | +€5,566 | +71.3% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.