G. MATHIAS: 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.
G. MATHIAS
Largest movements
- Receivables within one year +€34,381
up €34,381 (+26.6%), from €129,078 to €163,459
of which Other amounts receivable: +€69,094
- Tangible fixed assets -€8,200
down €8,200 (-46.4%), from €17,683 to €9,484
- Tax, wage and social debts +€64,548
up €64,548 (+840%), from €7,688 to €72,235
of which Remuneration and social security: +€57,459
- Trade debts -€47,799
down €47,799 (-57.7%), from €82,902 to €35,103
of which Bills of exchange payable: -€48,985
- Profit (loss) carried forward +€14,299
up €14,299 (+28.4%), from €50,306 to €64,605
- Current portion of long-term debt -€5,670
down €5,670 (-91.7%), from €6,186 to €515
- Gross operating margin +€17,995
up €17,995 (+44.8%), from €40,139 to €58,134
- Staff costs +€5,177
up €5,177 (+167%), from €3,097 to €8,274
- Other operating charges +€4,443
up €4,443 (+64.4%), from €6,894 to €11,337
- Taxes +€2,794
up €2,794 (+33.3%), from €8,381 to €11,175
- Financial income -€908
down €908 (-47.7%), from €1,904 to €996
of which Non-recurring financial income: -€913
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 | €158,036 | €182,898 | +€24,862 | +15.7% |
| Fixed assets | 21/28 | €17,683 | €9,484 | -€8,200 | -46.4% |
| Tangible fixed assets | 22/27 | €17,683 | €9,484 | -€8,200 | -46.4% |
| Furniture and vehicles | 24 | €17,683 | €9,484 | -€8,200 | -46.4% |
| Current assets | 29/58 | €140,353 | €173,414 | +€33,061 | +23.6% |
| Amounts receivable within one year | 40/41 | €129,078 | €163,459 | +€34,381 | +26.6% |
| Trade receivables | 40 | €66,927 | €32,214 | -€34,713 | -51.9% |
| Other amounts receivable | 41 | €62,151 | €131,245 | +€69,094 | +111% |
| Cash at bank and in hand | 54/58 | €11,275 | €9,955 | -€1,319 | -11.7% |
| Total equity and liabilities | 10/49 | €158,036 | €182,898 | +€24,862 | +15.7% |
| Equity | 10/15 | €58,366 | €72,665 | +€14,299 | +24.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €50,306 | €64,605 | +€14,299 | +28.4% |
| Amounts payable | 17/49 | €99,670 | €110,233 | +€10,563 | +10.6% |
| Amounts payable after more than one year | 17 | €2,895 | €2,380 | -€515 | -17.8% |
| Financial debts | 170/4 | €2,895 | €2,380 | -€515 | -17.8% |
| Amounts payable within one year | 42/48 | €96,775 | €107,854 | +€11,078 | +11.4% |
| Current portion of amounts payable after more than one year | 42 | €6,186 | €515 | -€5,670 | -91.7% |
| Trade debts | 44 | €82,902 | €35,103 | -€47,799 | -57.7% |
| Suppliers | 440/4 | €9,210 | €10,396 | +€1,186 | +12.9% |
| Bills of exchange payable | 441 | €73,692 | €24,707 | -€48,985 | -66.5% |
| Taxes, remuneration and social security | 45 | €7,688 | €72,235 | +€64,548 | +840% |
| Taxes | 450/3 | €7,688 | €14,776 | +€7,088 | +92.2% |
| Remuneration and social security | 454/9 | - | €57,459 | +€57,459 | |
| Remuneration, social security and pensions | 62 | €3,097 | €8,274 | +€5,177 | +167% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,733 | €12,700 | -€33 | -0.3% |
| Other operating charges | 640/8 | €6,894 | €11,337 | +€4,443 | +64.4% |
| Gross operating margin | 9900 | €40,139 | €58,134 | +€17,995 | +44.8% |
| Operating profit (loss) | 9901 | €17,415 | €25,823 | +€8,408 | +48.3% |
| Financial income | 75/76B | €1,904 | €996 | -€908 | -47.7% |
| Recurring financial income | 75 | €2 | €8 | +€5 | +233% |
| Non-recurring financial income | 76B | €1,902 | €989 | -€913 | -48.0% |
| Financial charges | 65/66B | €1,896 | €1,346 | -€550 | -29.0% |
| Recurring financial charges | 65 | €1,249 | €357 | -€892 | -71.4% |
| Non-recurring financial charges | 66B | €647 | €989 | +€342 | +52.8% |
| Profit (loss) for the period before taxes | 9903 | €17,423 | €25,474 | +€8,050 | +46.2% |
| Income taxes | 67/77 | €8,381 | €11,175 | +€2,794 | +33.3% |
| Profit (loss) for the period | 9904 | €9,042 | €14,299 | +€5,257 | +58.1% |
| Profit (loss) for the period to be appropriated | 9905 | €9,042 | €14,299 | +€5,257 | +58.1% |
Source: filed annual accounts (NBB), financial years ended 30 November 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.