DR. MATTHYS FRIEDA: 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. MATTHYS FRIEDA
Largest movements
- Current investments -€60,001
down €60,001 (-66.7%), from €90,001 to €30,000
- Financial fixed assets +€60,000
up €60,000 (+96.8%), from €61,990 to €121,990
- Cash +€30,778
up €30,778 (+86.8%), from €35,471 to €66,250
mainly Current investments (+€60,001) and Depreciation (+€26,078)
- Profit (loss) carried forward +€24,787
up €24,787 (+38.3%), from -€64,704 to -€39,916
- Gross operating margin +€19,161
up €19,161 (+47.5%), from €40,377 to €59,538
- Depreciation +€6,975
up €6,975 (+36.5%), from €19,103 to €26,078
- Taxes +€3,779
up €3,779 (+328%), from €1,152 to €4,931
- Other operating charges +€3,413
up €3,413 (+140%), from €2,443 to €5,856
- Financial income -€1,520
down €1,520 (-52.9%), from €2,876 to €1,356
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 | €670,104 | €695,516 | +€25,412 | +3.8% |
| Fixed assets | 21/28 | €525,092 | €589,812 | +€64,720 | +12.3% |
| Tangible fixed assets | 22/27 | €463,102 | €467,822 | +€4,720 | +1.0% |
| Land and buildings | 22 | €450,349 | €442,229 | -€8,121 | -1.8% |
| Plant, machinery and equipment | 23 | €2,571 | €0 | -€2,571 | -100% |
| Furniture and vehicles | 24 | €10,181 | €25,594 | +€15,412 | +151% |
| Financial fixed assets | 28 | €61,990 | €121,990 | +€60,000 | +96.8% |
| Current assets | 29/58 | €145,013 | €105,704 | -€39,308 | -27.1% |
| Amounts receivable within one year | 40/41 | €9,067 | €2,989 | -€6,078 | -67.0% |
| Trade receivables | 40 | €0 | €2,300 | +€2,300 | |
| Other amounts receivable | 41 | €9,067 | €689 | -€8,378 | -92.4% |
| Current investments | 50/53 | €90,001 | €30,000 | -€60,001 | -66.7% |
| Cash at bank and in hand | 54/58 | €35,471 | €66,250 | +€30,778 | +86.8% |
| Deferred charges and accrued income | 490/1 | €10,473 | €6,465 | -€4,008 | -38.3% |
| Total equity and liabilities | 10/49 | €670,104 | €695,516 | +€25,412 | +3.8% |
| Equity | 10/15 | €669,379 | €694,166 | +€24,787 | +3.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €714,083 | €714,083 | = | 0.0% |
| Distributable reserves | 133 | €714,083 | €714,083 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€64,704 | -€39,916 | +€24,787 | +38.3% |
| Amounts payable | 17/49 | €725 | €1,350 | +€624 | +86.1% |
| Amounts payable within one year | 42/48 | €725 | €1,350 | +€624 | +86.1% |
| Financial debts | 43 | - | €677 | +€677 | |
| Credit institutions | 430/8 | - | €677 | +€677 | |
| Trade debts | 44 | €725 | €673 | -€52 | -7.2% |
| Suppliers | 440/4 | €725 | €673 | -€52 | -7.2% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Non-recurring operating income | 76A | - | €7,500 | +€7,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,103 | €26,078 | +€6,975 | +36.5% |
| Other operating charges | 640/8 | €2,443 | €5,856 | +€3,413 | +140% |
| Gross operating margin | 9900 | €40,377 | €59,538 | +€19,161 | +47.5% |
| Operating profit (loss) | 9901 | €18,831 | €27,605 | +€8,774 | +46.6% |
| Financial income | 75/76B | €2,876 | €1,356 | -€1,520 | -52.9% |
| Recurring financial income | 75 | €2,876 | €1,356 | -€1,520 | -52.9% |
| Financial charges | 65/66B | €100 | €72 | -€28 | -28.1% |
| Recurring financial charges | 65 | €100 | €72 | -€28 | -28.1% |
| Profit (loss) for the period before taxes | 9903 | €21,607 | €28,888 | +€7,282 | +33.7% |
| Income taxes | 67/77 | €1,152 | €4,931 | +€3,779 | +328% |
| Profit (loss) for the period | 9904 | €20,455 | €23,958 | +€3,503 | +17.1% |
| Profit (loss) for the period to be appropriated | 9905 | €20,455 | €23,958 | +€3,503 | +17.1% |
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 22 October 2026 via checked.be.