GROEP MATHIMMO: 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.
GROEP MATHIMMO
Largest movements
- Tangible fixed assets +€690,352
up €690,352 (+186.0%), from €371,138 to €1.1m
of which Assets under construction and advance payments: +€541,448
- Stocks and contracts -€211,003
down €211,003 (-26.9%), from €784,746 to €573,743
- Cash +€168,500
up €168,500 (+37.8%), from €446,067 to €614,567
mainly Debts after one year (+€685,213) and Stocks and contracts (+€211,003)
- Debts after one year +€685,213
up €685,213 (+672.2%), from €101,931 to €787,145
- Reserves -€46,050
down €46,050 (-4.7%), from €969,583 to €923,533
of which Distributable reserves: -€46,050
- Gross operating margin +€27,091
up €27,091 (+89.3%), from -€30,328 to -€3,237
- Depreciation +€3,252
up €3,252 (+12.3%), from €26,533 to €29,785
- Financial charges -€878
down €878 (-13.6%), from €6,462 to €5,584
- Other operating charges -€661
down €661 (-8.1%), from €8,146 to €7,484
- Taxes -€388
down €388 (-79.6%), from €488 to €99
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 | €1,605,417 | €2,264,931 | +€659,514 | +41.1% |
| Fixed assets | 21/28 | €371,138 | €1,061,490 | +€690,352 | +186.0% |
| Tangible fixed assets | 22/27 | €371,138 | €1,061,490 | +€690,352 | +186.0% |
| Land and buildings | 22 | €370,678 | €519,909 | +€149,231 | +40.3% |
| Furniture and vehicles | 24 | €460 | €133 | -€327 | -71.0% |
| Assets under construction and advance payments | 27 | - | €541,448 | +€541,448 | |
| Current assets | 29/58 | €1,234,279 | €1,203,441 | -€30,838 | -2.5% |
| Stocks and contracts in progress | 3 | €784,746 | €573,743 | -€211,003 | -26.9% |
| Stocks | 30/36 | €784,746 | €573,743 | -€211,003 | -26.9% |
| Amounts receivable within one year | 40/41 | €3,466 | €15,131 | +€11,665 | +336.6% |
| Trade receivables | 40 | €3,466 | €868 | -€2,598 | -75.0% |
| Other amounts receivable | 41 | €0 | €14,263 | +€14,263 | |
| Cash at bank and in hand | 54/58 | €446,067 | €614,567 | +€168,500 | +37.8% |
| Total equity and liabilities | 10/49 | €1,605,417 | €2,264,931 | +€659,514 | +41.1% |
| Equity | 10/15 | €1,415,792 | €1,369,742 | -€46,050 | -3.3% |
| Contributions | 10/11 | €446,208 | €446,208 | = | 0.0% |
| Contributions outside capital | 11 | €446,208 | €446,208 | = | 0.0% |
| Other | 1109/19 | €446,208 | €446,208 | = | 0.0% |
| Reserves | 13 | €969,583 | €923,533 | -€46,050 | -4.7% |
| Tax-exempt reserves | 132 | €55,777 | €55,777 | = | 0.0% |
| Distributable reserves | 133 | €913,806 | €867,756 | -€46,050 | -5.0% |
| Amounts payable | 17/49 | €189,626 | €895,189 | +€705,564 | +372.1% |
| Amounts payable after more than one year | 17 | €101,931 | €787,145 | +€685,213 | +672.2% |
| Financial debts | 170/4 | €101,931 | €787,145 | +€685,213 | +672.2% |
| Amounts payable within one year | 42/48 | €87,694 | €108,045 | +€20,351 | +23.2% |
| Current portion of amounts payable after more than one year | 42 | €27,672 | €28,925 | +€1,253 | +4.5% |
| Trade debts | 44 | €1,900 | €18,144 | +€16,244 | +855.0% |
| Suppliers | 440/4 | €1,900 | €18,144 | +€16,244 | +855.0% |
| Taxes, remuneration and social security | 45 | €58,122 | €60,975 | +€2,853 | +4.9% |
| Taxes | 450/3 | €58,122 | €60,975 | +€2,853 | +4.9% |
| Remuneration, social security and pensions | 62 | -€165 | €0 | +€165 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,533 | €29,785 | +€3,252 | +12.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €8,146 | €7,484 | -€661 | -8.1% |
| Gross operating margin | 9900 | -€30,328 | -€3,237 | +€27,091 | +89.3% |
| Operating profit (loss) | 9901 | -€64,841 | -€40,506 | +€24,335 | +37.5% |
| Financial income | 75/76B | €101 | €139 | +€38 | +38.2% |
| Recurring financial income | 75 | €101 | €139 | +€38 | +38.2% |
| Financial charges | 65/66B | €6,462 | €5,584 | -€878 | -13.6% |
| Recurring financial charges | 65 | €6,462 | €5,584 | -€878 | -13.6% |
| Profit (loss) for the period before taxes | 9903 | -€71,203 | -€45,951 | +€25,252 | +35.5% |
| Income taxes | 67/77 | €488 | €99 | -€388 | -79.6% |
| Profit (loss) for the period | 9904 | -€71,690 | -€46,050 | +€25,640 | +35.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€71,690 | -€46,050 | +€25,640 | +35.8% |
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 12 October 2026 via checked.be.