Dr. Mathias Van Tornout: 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.
Dr. Mathias Van Tornout
Largest movements
- Receivables within one year -€276,804
down €276,804 (-52.0%), from €532,017 to €255,213
of which Other amounts receivable: -€264,346
- Current investments -€100,000
down €100,000 (-100%), from €100,000 to €0
- Tangible fixed assets -€30,665
down €30,665 (-35.1%), from €87,409 to €56,744
of which Leasing and similar rights: -€19,742
- Cash +€22,005
up €22,005 (+5.8%), from €378,190 to €400,195
mainly Net result for the year (+€344,073) and Receivables within one year (+€276,804)
- Other debts -€304,959
down €304,959 (-31.8%), from €959,914 to €654,955
- Tax, wage and social debts -€68,048
down €68,048 (-81.9%), from €83,080 to €15,032
- Debts after one year -€16,567
down €16,567 (-37.7%), from €43,988 to €27,421
- Gross operating margin -€7,705
down €7,705 (-1.6%), from €495,223 to €487,518
- Financial income -€5,955
down €5,955 (-70.3%), from €8,472 to €2,517
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 | €1,108,674 | €720,040 | -€388,634 | -35.1% |
| Fixed assets | 21/28 | €87,409 | €56,744 | -€30,665 | -35.1% |
| Tangible fixed assets | 22/27 | €87,409 | €56,744 | -€30,665 | -35.1% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €14,857 | €4,395 | -€10,462 | -70.4% |
| Leasing and similar rights | 25 | €69,314 | €49,572 | -€19,742 | -28.5% |
| Other tangible fixed assets | 26 | €3,238 | €2,777 | -€461 | -14.2% |
| Current assets | 29/58 | €1,021,266 | €663,297 | -€357,969 | -35.1% |
| Amounts receivable within one year | 40/41 | €532,017 | €255,213 | -€276,804 | -52.0% |
| Trade receivables | 40 | €267,671 | €255,213 | -€12,458 | -4.7% |
| Other amounts receivable | 41 | €264,346 | €0 | -€264,346 | -100% |
| Current investments | 50/53 | €100,000 | €0 | -€100,000 | -100% |
| Cash at bank and in hand | 54/58 | €378,190 | €400,195 | +€22,005 | +5.8% |
| Deferred charges and accrued income | 490/1 | €11,059 | €7,889 | -€3,171 | -28.7% |
| Total equity and liabilities | 10/49 | €1,108,674 | €720,040 | -€388,634 | -35.1% |
| Equity | 10/15 | €5,000 | €5,000 | = | 0.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,103,674 | €715,040 | -€388,634 | -35.2% |
| Amounts payable after more than one year | 17 | €43,988 | €27,421 | -€16,567 | -37.7% |
| Financial debts | 170/4 | €43,988 | €27,421 | -€16,567 | -37.7% |
| Amounts payable within one year | 42/48 | €1,059,673 | €687,619 | -€372,054 | -35.1% |
| Current portion of amounts payable after more than one year | 42 | €16,008 | €16,567 | +€559 | +3.5% |
| Trade debts | 44 | €671 | €1,065 | +€394 | +58.8% |
| Suppliers | 440/4 | €671 | €1,065 | +€394 | +58.8% |
| Taxes, remuneration and social security | 45 | €83,080 | €15,032 | -€68,048 | -81.9% |
| Taxes | 450/3 | €83,080 | €15,032 | -€68,048 | -81.9% |
| Other amounts payable | 47/48 | €959,914 | €654,955 | -€304,959 | -31.8% |
| Accrued charges and deferred income | 492/3 | €14 | €0 | -€14 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,188 | €30,665 | -€1,523 | -4.7% |
| Other operating charges | 640/8 | €1,258 | €1,436 | +€177 | +14.1% |
| Gross operating margin | 9900 | €495,223 | €487,518 | -€7,705 | -1.6% |
| Operating profit (loss) | 9901 | €461,777 | €455,417 | -€6,360 | -1.4% |
| Financial income | 75/76B | €8,472 | €2,517 | -€5,955 | -70.3% |
| Recurring financial income | 75 | €8,472 | €2,517 | -€5,955 | -70.3% |
| Financial charges | 65/66B | €2,783 | €2,036 | -€747 | -26.9% |
| Recurring financial charges | 65 | €2,783 | €2,036 | -€747 | -26.9% |
| Profit (loss) for the period before taxes | 9903 | €467,466 | €455,898 | -€11,568 | -2.5% |
| Income taxes | 67/77 | €115,272 | €111,825 | -€3,446 | -3.0% |
| Profit (loss) for the period | 9904 | €352,195 | €344,073 | -€8,121 | -2.3% |
| Profit (loss) for the period to be appropriated | 9905 | €352,195 | €344,073 | -€8,121 | -2.3% |
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 21 October 2026 via checked.be.