Ma-Trix: 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.
Ma-Trix
Largest movements
- Tangible fixed assets -€31,877
down €31,877 (-4.5%), from €711,942 to €680,066
of which Land and buildings: -€31,720
- Cash +€14,436
up €14,436 (+27.6%), from €52,260 to €66,696
mainly Depreciation (+€31,877) and Net result for the year (+€27,411)
- Debts after one year -€47,320
down €47,320 (-8.2%), from €575,378 to €528,057
- Profit (loss) carried forward +€27,411
up €27,411 (+21.6%), from €126,940 to €154,350
- Gross operating margin -€25,130
down €25,130 (-22.2%), from €113,062 to €87,933
- Taxes -€12,847
down €12,847 (-54.7%), from €23,490 to €10,643
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 | €775,306 | €760,165 | -€15,141 | -2.0% |
| Fixed assets | 21/28 | €711,942 | €680,066 | -€31,877 | -4.5% |
| Tangible fixed assets | 22/27 | €711,942 | €680,066 | -€31,877 | -4.5% |
| Land and buildings | 22 | €711,786 | €680,066 | -€31,720 | -4.5% |
| Plant, machinery and equipment | 23 | €157 | - | -€157 | |
| Current assets | 29/58 | €63,364 | €80,099 | +€16,736 | +26.4% |
| Amounts receivable within one year | 40/41 | €10,279 | €12,615 | +€2,336 | +22.7% |
| Trade receivables | 40 | €6,250 | €8,605 | +€2,355 | +37.7% |
| Other amounts receivable | 41 | €4,029 | €4,010 | -€19 | -0.5% |
| Cash at bank and in hand | 54/58 | €52,260 | €66,696 | +€14,436 | +27.6% |
| Deferred charges and accrued income | 490/1 | €824 | €788 | -€36 | -4.4% |
| Total equity and liabilities | 10/49 | €775,306 | €760,165 | -€15,141 | -2.0% |
| Equity | 10/15 | €127,940 | €155,350 | +€27,411 | +21.4% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €126,940 | €154,350 | +€27,411 | +21.6% |
| Amounts payable | 17/49 | €647,366 | €604,815 | -€42,551 | -6.6% |
| Amounts payable after more than one year | 17 | €575,378 | €528,057 | -€47,320 | -8.2% |
| Financial debts | 170/4 | €575,378 | €528,057 | -€47,320 | -8.2% |
| Amounts payable within one year | 42/48 | €71,989 | €76,758 | +€4,769 | +6.6% |
| Current portion of amounts payable after more than one year | 42 | €46,484 | €47,320 | +€837 | +1.8% |
| Trade debts | 44 | €1,338 | €5,649 | +€4,311 | +322.1% |
| Suppliers | 440/4 | €1,338 | €5,649 | +€4,311 | +322.1% |
| Taxes, remuneration and social security | 45 | €24,167 | €23,789 | -€378 | -1.6% |
| Taxes | 450/3 | €22,834 | €21,364 | -€1,470 | -6.4% |
| Remuneration and social security | 454/9 | €1,333 | €2,425 | +€1,092 | +81.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,077 | €31,877 | -€201 | -0.6% |
| Other operating charges | 640/8 | €6,123 | €6,438 | +€314 | +5.1% |
| Gross operating margin | 9900 | €113,062 | €87,933 | -€25,130 | -22.2% |
| Operating profit (loss) | 9901 | €74,862 | €49,619 | -€25,243 | -33.7% |
| Financial income | 75/76B | - | €208 | +€208 | |
| Recurring financial income | 75 | - | €208 | +€208 | |
| Financial charges | 65/66B | €12,160 | €11,773 | -€387 | -3.2% |
| Recurring financial charges | 65 | €12,160 | €11,773 | -€387 | -3.2% |
| Profit (loss) for the period before taxes | 9903 | €62,702 | €38,054 | -€24,648 | -39.3% |
| Income taxes | 67/77 | €23,490 | €10,643 | -€12,847 | -54.7% |
| Profit (loss) for the period | 9904 | €39,212 | €27,411 | -€11,801 | -30.1% |
| Profit (loss) for the period to be appropriated | 9905 | €39,212 | €27,411 | -€11,801 | -30.1% |
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 29 September 2026 via checked.be.