J. MATHIJSSEN: what changed
Two fiscal 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.
J. MATHIJSSEN
Largest movements
- Receivables within one year -€9,248
down €9,248 (-20.3%), from €45,651 to €36,403
- Deferred charges and accrued income +€5,808
up €5,808 (+6.3%), from €92,700 to €98,508
- Accrued charges and deferred income -€4,642
no longer reported in 2025 (was €4,642)
- Depreciation -€2,259
no longer reported in 2025 (was €2,259)
- Gross operating margin -€1,283
down €1,283 (-49.7%), from -€2,582 to -€3,865
- Financial income -€653
down €653 (-10.1%), from €6,460 to €5,808
- Financial charges +€156
up €156 (+143.1%), from €109 to €264
of which Financial charges: +€94
- Other operating charges -€64
down €64 (-10.3%), from €624 to €560
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €261,522 | €258,082 | -€3,440 | -1.3% |
| Fixed assets | 21/28 | €3,171 | €3,171 | = | 0.0% |
| Intangible fixed assets | 21 | €2,171 | €2,171 | = | 0.0% |
| Tangible fixed assets | 22/27 | €0 | €0 | = | |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €258,351 | €254,911 | -€3,440 | -1.3% |
| Amounts receivable after more than one year | 29 | €120,000 | €120,000 | = | 0.0% |
| Trade receivables | 290 | - | €120,000 | +€120,000 | |
| Other amounts receivable | 291 | €120,000 | - | -€120,000 | |
| Amounts receivable within one year | 40/41 | €45,651 | €36,403 | -€9,248 | -20.3% |
| Other amounts receivable | 41 | €45,651 | €36,403 | -€9,248 | -20.3% |
| Deferred charges and accrued income | 490/1 | €92,700 | €98,508 | +€5,808 | +6.3% |
| Total equity and liabilities | 10/49 | €261,522 | €258,082 | -€3,440 | -1.3% |
| Equity | 10/15 | €250,522 | €251,641 | +€1,119 | +0.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €242,463 | €243,582 | +€1,119 | +0.5% |
| Amounts payable | 17/49 | €11,000 | €6,441 | -€4,559 | -41.4% |
| Amounts payable within one year | 42/48 | €6,358 | €6,441 | +€83 | +1.3% |
| Financial debts | 43 | €81 | €2 | -€79 | -98.0% |
| Credit institutions | 430/8 | €81 | €2 | -€79 | -98.0% |
| Trade debts | 44 | €6,277 | €6,440 | +€162 | +2.6% |
| Suppliers | 440/4 | €6,277 | €6,440 | +€162 | +2.6% |
| Accrued charges and deferred income | 492/3 | €4,642 | - | -€4,642 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,259 | - | -€2,259 | |
| Other operating charges | 640/8 | €624 | €560 | -€64 | -10.3% |
| Gross operating margin | 9900 | -€2,582 | -€3,865 | -€1,283 | -49.7% |
| Operating profit (loss) | 9901 | -€5,465 | -€4,425 | +€1,040 | +19.0% |
| Financial income | 75/76B | €6,460 | €5,808 | -€653 | -10.1% |
| Recurring financial income | 75 | €6,460 | €5,808 | -€653 | -10.1% |
| Financial charges | 65/66B | €109 | €264 | +€156 | +143.1% |
| Recurring financial charges | 65 | €109 | €202 | +€94 | +86.0% |
| Non-recurring financial charges | 66B | - | €62 | +€62 | |
| Profit (loss) for the period before taxes | 9903 | €887 | €1,119 | +€232 | +26.1% |
| Income taxes | 67/77 | €45 | - | -€45 | |
| Profit (loss) for the period | 9904 | €841 | €1,119 | +€277 | +32.9% |
| Profit (loss) for the period to be appropriated | 9905 | €841 | €1,119 | +€277 | +32.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.