Hannelore Matthys: 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.
Hannelore Matthys
Largest movements
- Cash +€46,932
up €46,932 (+62.4%), from €75,179 to €122,111
mainly Other debts (+€135,846) and Net result for the year (+€110,246)
- Tangible fixed assets +€5,167
up €5,167 (+12.1%), from €42,804 to €47,971
of which Furniture and vehicles: +€5,500
- Other debts +€135,846
up €135,846 (+1,480%), from €9,181 to €145,026
- Profit (loss) carried forward -€71,684
down €71,684 (-78.9%), from €90,889 to €19,205
- Reserves -€7,766
no longer reported in 2025 (was €7,766)
- Trade debts -€4,689
down €4,689 (-90.9%), from €5,159 to €470
- Gross operating margin +€27,350
up €27,350 (+22.2%), from €123,168 to €150,517
- Taxes +€6,294
up €6,294 (+23.6%), from €26,647 to €32,940
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 | €135,406 | €187,318 | +€51,913 | +38.3% |
| Fixed assets | 21/28 | €42,804 | €47,971 | +€5,167 | +12.1% |
| Tangible fixed assets | 22/27 | €42,804 | €47,971 | +€5,167 | +12.1% |
| Furniture and vehicles | 24 | €39,935 | €45,435 | +€5,500 | +13.8% |
| Other tangible fixed assets | 26 | €2,869 | €2,536 | -€333 | -11.6% |
| Current assets | 29/58 | €92,602 | €139,347 | +€46,745 | +50.5% |
| Amounts receivable within one year | 40/41 | €14,784 | €14,435 | -€349 | -2.4% |
| Trade receivables | 40 | €72 | €236 | +€164 | +228% |
| Other amounts receivable | 41 | €14,712 | €14,199 | -€513 | -3.5% |
| Cash at bank and in hand | 54/58 | €75,179 | €122,111 | +€46,932 | +62.4% |
| Deferred charges and accrued income | 490/1 | €2,638 | €2,801 | +€162 | +6.2% |
| Total equity and liabilities | 10/49 | €135,406 | €187,318 | +€51,913 | +38.3% |
| Equity | 10/15 | €117,205 | €37,755 | -€79,450 | -67.8% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €7,766 | - | -€7,766 | |
| Distributable reserves | 133 | €7,766 | - | -€7,766 | |
| Profit (loss) carried forward | 14 | €90,889 | €19,205 | -€71,684 | -78.9% |
| Amounts payable | 17/49 | €18,201 | €149,563 | +€131,363 | +722% |
| Amounts payable within one year | 42/48 | €17,740 | €148,937 | +€131,197 | +740% |
| Trade debts | 44 | €5,159 | €470 | -€4,689 | -90.9% |
| Suppliers | 440/4 | €5,159 | €470 | -€4,689 | -90.9% |
| Taxes, remuneration and social security | 45 | €3,400 | €3,440 | +€40 | +1.2% |
| Taxes | 450/3 | €3,400 | €3,440 | +€40 | +1.2% |
| Other amounts payable | 47/48 | €9,181 | €145,026 | +€135,846 | +1,480% |
| Accrued charges and deferred income | 492/3 | €461 | €627 | +€166 | +36.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,380 | €6,266 | +€886 | +16.5% |
| Other operating charges | 640/8 | €960 | €1,065 | +€105 | +11.0% |
| Non-recurring operating charges | 66A | €1,608 | - | -€1,608 | |
| Gross operating margin | 9900 | €123,168 | €150,517 | +€27,350 | +22.2% |
| Operating profit (loss) | 9901 | €115,220 | €143,186 | +€27,966 | +24.3% |
| Financial charges | 65/66B | €9 | - | -€9 | |
| Recurring financial charges | 65 | €9 | - | -€9 | |
| Profit (loss) for the period before taxes | 9903 | €115,211 | €143,186 | +€27,975 | +24.3% |
| Income taxes | 67/77 | €26,647 | €32,940 | +€6,294 | +23.6% |
| Profit (loss) for the period | 9904 | €88,565 | €110,246 | +€21,681 | +24.5% |
| Profit (loss) for the period to be appropriated | 9905 | €88,565 | €110,246 | +€21,681 | +24.5% |
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 20 October 2026 via checked.be.