Ets Mathot-Vizzini: 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.
Ets Mathot-Vizzini
Largest movements
- Cash +€25,895
up €25,895 (+368.9%), from €7,019 to €32,915
mainly Depreciation (+€14,873) and Tax, wage and social debts (+€11,883)
- Stocks and contracts -€10,031
down €10,031 (-11.9%), from €84,119 to €74,088
- Tangible fixed assets -€4,955
down €4,955 (-11.4%), from €43,569 to €38,614
of which Furniture and vehicles: -€4,167
- Receivables within one year -€4,082
down €4,082 (-26.3%), from €15,493 to €11,410
- Deferred charges and accrued income +€2,389
up €2,389 (+504.7%), from €473 to €2,863
- Trade debts -€19,106
down €19,106 (-27.0%), from €70,711 to €51,606
- Tax, wage and social debts +€11,883
up €11,883 (+115.3%), from €10,305 to €22,188
of which Taxes: +€7,165
- Profit (loss) carried forward +€11,643
up €11,643, from -€5,031 to €6,613
- Other debts +€8,913
up €8,913 (+148.1%), from €6,020 to €14,933
- Debts after one year -€4,307
down €4,307 (-79.6%), from €5,414 to €1,107
- Staff costs -€12,794
down €12,794 (-20.1%), from €63,624 to €50,830
- Gross operating margin +€10,964
up €10,964 (+15.4%), from €71,028 to €81,992
- Taxes +€2,341
up €2,341 (+1828.7%), from €128 to €2,469
- Depreciation +€1,879
up €1,879 (+14.5%), from €12,994 to €14,873
- Other operating charges +€1,649
new in 2025: €1,649
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 | €151,037 | €160,253 | +€9,216 | +6.1% |
| Fixed assets | 21/28 | €43,932 | €38,977 | -€4,955 | -11.3% |
| Tangible fixed assets | 22/27 | €43,569 | €38,614 | -€4,955 | -11.4% |
| Plant, machinery and equipment | 23 | €34,587 | €33,798 | -€789 | -2.3% |
| Furniture and vehicles | 24 | €8,983 | €4,816 | -€4,167 | -46.4% |
| Financial fixed assets | 28 | €363 | €363 | = | 0.0% |
| Current assets | 29/58 | €107,105 | €121,276 | +€14,171 | +13.2% |
| Stocks and contracts in progress | 3 | €84,119 | €74,088 | -€10,031 | -11.9% |
| Stocks | 30/36 | €84,119 | €74,088 | -€10,031 | -11.9% |
| Amounts receivable within one year | 40/41 | €15,493 | €11,410 | -€4,082 | -26.3% |
| Trade receivables | 40 | €15,493 | €11,410 | -€4,082 | -26.3% |
| Cash at bank and in hand | 54/58 | €7,019 | €32,915 | +€25,895 | +368.9% |
| Deferred charges and accrued income | 490/1 | €473 | €2,863 | +€2,389 | +504.7% |
| Total equity and liabilities | 10/49 | €151,037 | €160,253 | +€9,216 | +6.1% |
| Equity | 10/15 | €54,469 | €66,113 | +€11,643 | +21.4% |
| Contributions | 10/11 | €10,500 | €10,500 | = | 0.0% |
| Reserves | 13 | €49,000 | €49,000 | = | 0.0% |
| Distributable reserves | 133 | €49,000 | €49,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,031 | €6,613 | +€11,643 | |
| Amounts payable | 17/49 | €96,568 | €94,141 | -€2,427 | -2.5% |
| Amounts payable after more than one year | 17 | €5,414 | €1,107 | -€4,307 | -79.6% |
| Financial debts | 170/4 | €5,414 | €1,107 | -€4,307 | -79.6% |
| Amounts payable within one year | 42/48 | €91,154 | €93,033 | +€1,879 | +2.1% |
| Current portion of amounts payable after more than one year | 42 | €4,117 | €4,307 | +€189 | +4.6% |
| Trade debts | 44 | €70,711 | €51,606 | -€19,106 | -27.0% |
| Suppliers | 440/4 | €70,711 | €51,606 | -€19,106 | -27.0% |
| Taxes, remuneration and social security | 45 | €10,305 | €22,188 | +€11,883 | +115.3% |
| Taxes | 450/3 | €3,204 | €10,369 | +€7,165 | +223.6% |
| Remuneration and social security | 454/9 | €7,101 | €11,818 | +€4,717 | +66.4% |
| Other amounts payable | 47/48 | €6,020 | €14,933 | +€8,913 | +148.1% |
| Remuneration, social security and pensions | 62 | €63,624 | €50,830 | -€12,794 | -20.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,994 | €14,873 | +€1,879 | +14.5% |
| Other operating charges | 640/8 | - | €1,649 | +€1,649 | |
| Gross operating margin | 9900 | €71,028 | €81,992 | +€10,964 | +15.4% |
| Operating profit (loss) | 9901 | -€5,589 | €14,640 | +€20,229 | |
| Financial income | 75/76B | €22 | €27 | +€5 | +24.5% |
| Recurring financial income | 75 | €22 | €27 | +€5 | +24.5% |
| Financial charges | 65/66B | €608 | €555 | -€52 | -8.6% |
| Recurring financial charges | 65 | €608 | €555 | -€52 | -8.6% |
| Profit (loss) for the period before taxes | 9903 | -€6,175 | €14,112 | +€20,287 | |
| Income taxes | 67/77 | €128 | €2,469 | +€2,341 | +1828.7% |
| Profit (loss) for the period | 9904 | -€6,303 | €11,643 | +€17,946 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,303 | €11,643 | +€17,946 |
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 10 October 2026 via checked.be.