Dries Mathys: 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.
Dries Mathys
Largest movements
- Stocks and contracts +€65,510
up €65,510 (+55.7%), from €117,648 to €183,158
of which Contracts in progress: +€78,566
- Receivables within one year -€57,666
down €57,666 (-23.6%), from €244,633 to €186,967
of which Trade receivables: -€70,273
- Cash +€9,005
up €9,005 (+197.0%), from €4,570 to €13,575
mainly Receivables within one year (+€57,666) and Depreciation (+€37,196)
- Profit (loss) carried forward +€27,865
up €27,865 (+31.1%), from €89,595 to €117,460
- Other debts -€12,945
down €12,945 (-6.1%), from €211,075 to €198,130
- Debts after one year -€6,442
down €6,442 (-13.7%), from €46,967 to €40,525
- Gross operating margin -€65,942
down €65,942 (-19.5%), from €338,270 to €272,328
- Depreciation +€15,863
up €15,863 (+74.4%), from €21,333 to €37,196
- Taxes -€14,707
down €14,707 (-67.9%), from €21,673 to €6,966
- Staff costs -€6,885
down €6,885 (-3.4%), from €203,990 to €197,106
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 | €483,565 | €497,025 | +€13,461 | +2.8% |
| Fixed assets | 21/28 | €115,337 | €111,923 | -€3,414 | -3.0% |
| Intangible fixed assets | 21 | €5,996 | €4,496 | -€1,500 | -25.0% |
| Tangible fixed assets | 22/27 | €108,941 | €106,892 | -€2,049 | -1.9% |
| Plant, machinery and equipment | 23 | €17,018 | €20,728 | +€3,710 | +21.8% |
| Furniture and vehicles | 24 | €25,632 | €33,817 | +€8,185 | +31.9% |
| Leasing and similar rights | 25 | €66,291 | €52,347 | -€13,944 | -21.0% |
| Financial fixed assets | 28 | €400 | €535 | +€135 | +33.8% |
| Current assets | 29/58 | €368,228 | €385,103 | +€16,875 | +4.6% |
| Stocks and contracts in progress | 3 | €117,648 | €183,158 | +€65,510 | +55.7% |
| Stocks | 30/36 | €80,523 | €67,467 | -€13,056 | -16.2% |
| Contracts in progress | 37 | €37,125 | €115,691 | +€78,566 | +211.6% |
| Amounts receivable within one year | 40/41 | €244,633 | €186,967 | -€57,666 | -23.6% |
| Trade receivables | 40 | €241,421 | €171,148 | -€70,273 | -29.1% |
| Other amounts receivable | 41 | €3,212 | €15,819 | +€12,606 | +392.4% |
| Cash at bank and in hand | 54/58 | €4,570 | €13,575 | +€9,005 | +197.0% |
| Deferred charges and accrued income | 490/1 | €1,376 | €1,402 | +€26 | +1.9% |
| Total equity and liabilities | 10/49 | €483,565 | €497,025 | +€13,461 | +2.8% |
| Equity | 10/15 | €92,595 | €120,460 | +€27,865 | +30.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €89,595 | €117,460 | +€27,865 | +31.1% |
| Amounts payable | 17/49 | €390,970 | €376,565 | -€14,404 | -3.7% |
| Amounts payable after more than one year | 17 | €46,967 | €40,525 | -€6,442 | -13.7% |
| Financial debts | 170/4 | €46,967 | €40,525 | -€6,442 | -13.7% |
| Amounts payable within one year | 42/48 | €344,003 | €336,040 | -€7,963 | -2.3% |
| Current portion of amounts payable after more than one year | 42 | €10,737 | €13,700 | +€2,963 | +27.6% |
| Trade debts | 44 | €100,517 | €99,676 | -€841 | -0.8% |
| Suppliers | 440/4 | €100,517 | €99,676 | -€841 | -0.8% |
| Taxes, remuneration and social security | 45 | €21,673 | €24,534 | +€2,860 | +13.2% |
| Taxes | 450/3 | €21,673 | €8,566 | -€13,107 | -60.5% |
| Remuneration and social security | 454/9 | - | €15,968 | +€15,968 | |
| Other amounts payable | 47/48 | €211,075 | €198,130 | -€12,945 | -6.1% |
| Remuneration, social security and pensions | 62 | €203,990 | €197,106 | -€6,885 | -3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,333 | €37,196 | +€15,863 | +74.4% |
| Other operating charges | 640/8 | €1,158 | €1,311 | +€153 | +13.2% |
| Gross operating margin | 9900 | €338,270 | €272,328 | -€65,942 | -19.5% |
| Operating profit (loss) | 9901 | €111,789 | €36,716 | -€75,073 | -67.2% |
| Financial income | 75/76B | €240 | €559 | +€319 | +133.0% |
| Recurring financial income | 75 | €240 | €559 | +€319 | +133.0% |
| Financial charges | 65/66B | €760 | €2,443 | +€1,683 | +221.4% |
| Recurring financial charges | 65 | €760 | €2,443 | +€1,683 | +221.4% |
| Profit (loss) for the period before taxes | 9903 | €111,268 | €34,831 | -€76,437 | -68.7% |
| Income taxes | 67/77 | €21,673 | €6,966 | -€14,707 | -67.9% |
| Profit (loss) for the period | 9904 | €89,595 | €27,865 | -€61,729 | -68.9% |
| Profit (loss) for the period to be appropriated | 9905 | €89,595 | €27,865 | -€61,729 | -68.9% |
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 9 October 2026 via checked.be.