Dennis Matthijs: 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.
Dennis Matthijs
Largest movements
- Cash +€102,573
up €102,573 (+281%), from €36,559 to €139,132
mainly Net result for the year (+€74,061) and Tax, wage and social debts (+€31,929)
- Tangible fixed assets +€2,182
up €2,182 (+145%), from €1,506 to €3,689
of which Other tangible fixed assets: +€2,749
- Reserves +€74,061
up €74,061 (+524%), from €14,128 to €88,189
- Tax, wage and social debts +€31,929
up €31,929 (+301%), from €10,599 to €42,527
- Short-term financial debts -€2,882
down €2,882 (-41.2%), from €6,997 to €4,115
- Gross operating margin +€81,657
up €81,657 (+311%), from €26,280 to €107,937
- Taxes +€15,534
up €15,534 (+366%), from €4,241 to €19,775
- Other operating charges +€3,174
up €3,174 (+54.8%), from €5,794 to €8,968
- Financial charges +€2,471
up €2,471 (+128%), from €1,926 to €4,397
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 | €40,743 | €143,638 | +€102,895 | +253% |
| Fixed assets | 21/28 | €1,506 | €3,689 | +€2,182 | +145% |
| Tangible fixed assets | 22/27 | €1,506 | €3,689 | +€2,182 | +145% |
| Furniture and vehicles | 24 | €1,506 | €940 | -€566 | -37.6% |
| Other tangible fixed assets | 26 | - | €2,749 | +€2,749 | |
| Current assets | 29/58 | €39,236 | €139,949 | +€100,713 | +257% |
| Amounts receivable within one year | 40/41 | €918 | €0 | -€918 | -100% |
| Trade receivables | 40 | €832 | €0 | -€832 | -100% |
| Other amounts receivable | 41 | €87 | €0 | -€87 | -100% |
| Cash at bank and in hand | 54/58 | €36,559 | €139,132 | +€102,573 | +281% |
| Deferred charges and accrued income | 490/1 | €1,759 | €817 | -€942 | -53.5% |
| Total equity and liabilities | 10/49 | €40,743 | €143,638 | +€102,895 | +253% |
| Equity | 10/15 | €19,128 | €93,189 | +€74,061 | +387% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €14,128 | €88,189 | +€74,061 | +524% |
| Distributable reserves | 133 | €14,128 | €88,189 | +€74,061 | +524% |
| Amounts payable | 17/49 | €21,615 | €50,449 | +€28,834 | +133% |
| Amounts payable within one year | 42/48 | €21,615 | €50,449 | +€28,834 | +133% |
| Financial debts | 43 | €6,997 | €4,115 | -€2,882 | -41.2% |
| Credit institutions | 430/8 | €6,997 | €4,115 | -€2,882 | -41.2% |
| Trade debts | 44 | €2,518 | €1,107 | -€1,411 | -56.1% |
| Suppliers | 440/4 | €2,518 | €1,107 | -€1,411 | -56.1% |
| Taxes, remuneration and social security | 45 | €10,599 | €42,527 | +€31,929 | +301% |
| Taxes | 450/3 | €10,599 | €42,527 | +€31,929 | +301% |
| Other amounts payable | 47/48 | €1,502 | €2,700 | +€1,198 | +79.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €192 | €735 | +€542 | +282% |
| Other operating charges | 640/8 | €5,794 | €8,968 | +€3,174 | +54.8% |
| Gross operating margin | 9900 | €26,280 | €107,937 | +€81,657 | +311% |
| Operating profit (loss) | 9901 | €20,294 | €98,234 | +€77,940 | +384% |
| Financial income | 75/76B | €1 | €0 | -€1 | -100% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -100% |
| Financial charges | 65/66B | €1,926 | €4,397 | +€2,471 | +128% |
| Recurring financial charges | 65 | €1,926 | €4,397 | +€2,471 | +128% |
| Profit (loss) for the period before taxes | 9903 | €18,369 | €93,837 | +€75,468 | +411% |
| Income taxes | 67/77 | €4,241 | €19,775 | +€15,534 | +366% |
| Profit (loss) for the period | 9904 | €14,128 | €74,061 | +€59,934 | +424% |
| Profit (loss) for the period to be appropriated | 9905 | €14,128 | €74,061 | +€59,934 | +424% |
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 30 October 2026 via checked.be.