J. 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.
J. Matthys
Largest movements
- Current investments -€500,000
no longer reported in 2025 (was €500,000)
- Cash +€273,792
up €273,792 (+158%), from €173,393 to €447,185
mainly Current investments (+€500,000) and Deferred charges and accrued income (+€13,950)
- Deferred charges and accrued income -€13,950
down €13,950 (-98.8%), from €14,125 to €175
- Receivables within one year +€10,102
up €10,102 (+33.6%), from €30,021 to €40,123
of which Other amounts receivable: +€15,031
- Debts after one year -€215,000
down €215,000 (-74.4%), from €289,000 to €74,000
- Other debts -€11,192
down €11,192 (-67.2%), from €16,649 to €5,458
- Gross operating margin -€74,238
down €74,238 (-91.4%), from €81,253 to €7,015
- Taxes -€16,359
down €16,359 (-83.2%), from €19,669 to €3,310
- Financial charges -€15,629
down €15,629 (-64.0%), from €24,429 to €8,800
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 | €725,299 | €496,698 | -€228,601 | -31.5% |
| Fixed assets | 21/28 | €7,760 | €9,215 | +€1,456 | +18.8% |
| Tangible fixed assets | 22/27 | €7,531 | €8,987 | +€1,456 | +19.3% |
| Plant, machinery and equipment | 23 | €1,548 | €762 | -€786 | -50.8% |
| Furniture and vehicles | 24 | €3,235 | €6,673 | +€3,438 | +106% |
| Other tangible fixed assets | 26 | €2,747 | €1,551 | -€1,196 | -43.5% |
| Financial fixed assets | 28 | €229 | €229 | = | 0.0% |
| Current assets | 29/58 | €717,539 | €487,483 | -€230,057 | -32.1% |
| Amounts receivable within one year | 40/41 | €30,021 | €40,123 | +€10,102 | +33.6% |
| Trade receivables | 40 | €14,645 | €9,716 | -€4,929 | -33.7% |
| Other amounts receivable | 41 | €15,377 | €30,408 | +€15,031 | +97.8% |
| Current investments | 50/53 | €500,000 | - | -€500,000 | |
| Cash at bank and in hand | 54/58 | €173,393 | €447,185 | +€273,792 | +158% |
| Deferred charges and accrued income | 490/1 | €14,125 | €175 | -€13,950 | -98.8% |
| Total equity and liabilities | 10/49 | €725,299 | €496,698 | -€228,601 | -31.5% |
| Equity | 10/15 | €397,094 | €400,120 | +€3,026 | +0.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €384,000 | €387,000 | +€3,000 | +0.8% |
| Distributable reserves | 133 | €384,000 | €387,000 | +€3,000 | +0.8% |
| Profit (loss) carried forward | 14 | €694 | €720 | +€26 | +3.8% |
| Amounts payable | 17/49 | €328,205 | €96,578 | -€231,627 | -70.6% |
| Amounts payable after more than one year | 17 | €289,000 | €74,000 | -€215,000 | -74.4% |
| Other amounts payable | 178/9 | €289,000 | €74,000 | -€215,000 | -74.4% |
| Amounts payable within one year | 42/48 | €34,967 | €22,578 | -€12,390 | -35.4% |
| Trade debts | 44 | €5,262 | €8,797 | +€3,535 | +67.2% |
| Suppliers | 440/4 | €5,262 | €8,797 | +€3,535 | +67.2% |
| Taxes, remuneration and social security | 45 | €13,057 | €8,324 | -€4,733 | -36.2% |
| Taxes | 450/3 | €13,057 | €8,324 | -€4,733 | -36.2% |
| Other amounts payable | 47/48 | €16,649 | €5,458 | -€11,192 | -67.2% |
| Accrued charges and deferred income | 492/3 | €4,238 | - | -€4,238 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,544 | €3,544 | = | 0.0% |
| Other operating charges | 640/8 | €1,776 | €1,970 | +€194 | +10.9% |
| Gross operating margin | 9900 | €81,253 | €7,015 | -€74,238 | -91.4% |
| Operating profit (loss) | 9901 | €75,933 | €1,502 | -€74,432 | -98.0% |
| Financial income | 75/76B | €14,324 | €13,635 | -€689 | -4.8% |
| Recurring financial income | 75 | €14,324 | €13,635 | -€689 | -4.8% |
| Financial charges | 65/66B | €24,429 | €8,800 | -€15,629 | -64.0% |
| Recurring financial charges | 65 | €24,429 | €8,800 | -€15,629 | -64.0% |
| Profit (loss) for the period before taxes | 9903 | €65,828 | €6,336 | -€59,492 | -90.4% |
| Income taxes | 67/77 | €19,669 | €3,310 | -€16,359 | -83.2% |
| Profit (loss) for the period | 9904 | €46,159 | €3,026 | -€43,133 | -93.4% |
| Profit (loss) for the period to be appropriated | 9905 | €46,159 | €3,026 | -€43,133 | -93.4% |
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 13 October 2026 via checked.be.