MATCH: 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.
What changed
MATCH
NACE 47.110, Non-specialised retail sale with food, beverages or tobacco predominating
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€2.4m
2024 · €27.8m-€25.3m
Equity
-€9.7m
2024 · -€12.2m+€2.4m
Cash
€877,179
2024 · €323,475+€553,704
Balance sheet total
€7.2m
2024 · €17.4m-€10.2m
Largest movements
Assets
- Receivables within one year -€10.8m
down €10.8m (-64.1%), from €16.9m to €6.1m
of which Trade receivables: -€9.2m
- Cash +€553,704
up €553,704 (+171.2%), from €323,475 to €877,179
mainly Receivables within one year (+€10.8m) and Net result for the year (+€2.4m)
Equity and liabilities
- Trade debts -€9.1m
down €9.1m (-53.7%), from €17.0m to €7.9m
- Provisions -€2.9m
down €2.9m (-50.2%), from €5.8m to €2.9m
of which Provisions for liabilities and charges: -€2.9m
- Profit (loss) carried forward +€2.4m
up €2.4m (+4.1%), from -€59.5m to -€57.1m
- Tax, wage and social debts -€695,315
down €695,315 (-82.5%), from €842,944 to €147,629
of which Remuneration and social security: -€532,290
Income statement
- Turnover -€65.9m
down €65.9m (-99.9%), from €66.0m to €97,308
- Goods and materials -€58.7m
down €58.7m (-100.0%), from €58.7m to €2,873
of which Purchases: -€38.2m
- Write-downs -€16.6m
down €16.6m, from €15.6m to -€951,105
- Staff costs -€14.9m
down €14.9m (-98.1%), from €15.2m to €285,451
- Services and other goods -€14.4m
down €14.4m (-95.4%), from €15.1m to €696,176
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.
Result 2024
€27.8m
Turnover
-€65.9m
Other operating income
-€10.9m
Goods and materials
+€58.7m
Services and other goods
+€14.4m
Staff costs
+€14.9m
Depreciation
+€753,751
Write-downs
+€16.6m
Provisions
-€672,105
Other operating charges
+€1.3m
Other operating items
-€54.4m
Financial income
+€400,283
Financial charges
-€558,833
Taxes
+€3,181
Result 2025
€2.4m
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.
From operations
+€706,177
Investment
-€132,358
Financing
-€20,115
Cash 2024
€323,475
From operations (derived)
+€706,177
Net result for the year
+€2.4m
Receivables within one year
+€10.8m
Provisions
-€2.9m
Trade debts
-€9.1m
Tax, wage and social debts
-€695,315
Other debts
+€120,698
Investment (derived)
-€132,358
Investment in fixed assets (net)
-€132,358
Financing
-€20,115
Debts after one year
-€20,115
Cash 2025
€877,179
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €17,394,070 | €7,232,773 | -€10.2m | -58.4% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €154,953 | €287,311 | +€132,358 | +85.4% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Financial fixed assets | 28 | €154,953 | €287,311 | +€132,358 | +85.4% |
| Other financial fixed assets | 284/8 | €154,953 | €287,311 | +€132,358 | +85.4% |
| Amounts receivable and cash guarantees | 285/8 | €154,953 | €287,311 | +€132,358 | +85.4% |
| Current assets | 29/58 | €17,239,117 | €6,945,462 | -€10.3m | -59.7% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Raw materials and consumables | 30/31 | €0 | - | = | |
| Goods purchased for resale | 34 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €16,915,643 | €6,068,283 | -€10.8m | -64.1% |
| Trade receivables | 40 | €15,226,801 | €6,043,945 | -€9.2m | -60.3% |
| Other amounts receivable | 41 | €1,688,842 | €24,338 | -€1.7m | -98.6% |
| Cash at bank and in hand | 54/58 | €323,475 | €877,179 | +€553,704 | +171.2% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €17,394,070 | €7,232,773 | -€10.2m | -58.4% |
| Equity | 10/15 | -€12,168,134 | -€9,734,569 | +€2.4m | +20.0% |
| Contributions | 10/11 | €44,175,000 | €44,175,000 | = | 0.0% |
| Capital | 10 | €1,500,000 | €1,500,000 | = | 0.0% |
| Issued capital | 100 | €1,500,000 | €1,500,000 | = | 0.0% |
| Outside capital | 11 | €42,675,000 | €42,675,000 | = | 0.0% |
| Share premium | 1100/10 | €42,675,000 | €42,675,000 | = | 0.0% |
| Reserves | 13 | €3,144,610 | €3,144,610 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,521,107 | €1,521,107 | = | 0.0% |
| Legal reserve | 130 | €1,499,946 | €1,499,946 | = | 0.0% |
| Reserves not available under the articles | 1311 | €21,161 | €21,161 | = | 0.0% |
| Distributable reserves | 133 | €1,623,503 | €1,623,503 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€59,487,744 | -€57,054,179 | +€2.4m | +4.1% |
| Provisions and deferred taxes | 16 | €5,755,654 | €2,865,909 | -€2.9m | -50.2% |
| Provisions for liabilities and charges | 160/5 | €5,755,654 | €2,865,909 | -€2.9m | -50.2% |
| Pensions and similar obligations | 160 | €0 | - | = | |
| Other liabilities and charges | 164/5 | €5,755,654 | €2,865,909 | -€2.9m | -50.2% |
| Deferred taxes | 168 | - | €0 | = | |
| Amounts payable | 17/49 | €23,806,550 | €14,101,433 | -€9.7m | -40.8% |
| Amounts payable after more than one year | 17 | €25,368 | €5,253 | -€20,115 | -79.3% |
| Other amounts payable | 178/9 | €25,368 | €5,253 | -€20,115 | -79.3% |
| Amounts payable within one year | 42/48 | €23,781,182 | €14,096,180 | -€9.7m | -40.7% |
| Trade debts | 44 | €16,969,171 | €7,858,786 | -€9.1m | -53.7% |
| Suppliers | 440/4 | €16,969,171 | €7,858,786 | -€9.1m | -53.7% |
| Taxes, remuneration and social security | 45 | €842,944 | €147,629 | -€695,315 | -82.5% |
| Taxes | 450/3 | €307,732 | €144,707 | -€163,025 | -53.0% |
| Remuneration and social security | 454/9 | €535,212 | €2,922 | -€532,290 | -99.5% |
| Other amounts payable | 47/48 | €5,969,067 | €6,089,765 | +€120,698 | +2.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Operating income | 70/76A | €135,004,504 | €4,420,213 | -€130.6m | -96.7% |
| Turnover | 70 | €65,951,362 | €97,308 | -€65.9m | -99.9% |
| Other operating income | 74 | €11,272,570 | €368,817 | -€10.9m | -96.7% |
| Non-recurring operating income | 76A | €57,780,571 | €3,954,088 | -€53.8m | -93.2% |
| Operating charges | 60/66A | €107,479,160 | €2,066,920 | -€105.4m | -98.1% |
| Goods for resale, raw materials and consumables | 60 | €58,677,837 | €2,873 | -€58.7m | -100.0% |
| Purchases | 600/8 | €38,235,298 | €2,873 | -€38.2m | -100.0% |
| Change in stocks: decrease (increase) | 609 | €20,442,539 | - | -€20.4m | |
| Services and other goods | 61 | €15,070,468 | €696,176 | -€14.4m | -95.4% |
| Remuneration, social security and pensions | 62 | €15,214,502 | €285,451 | -€14.9m | -98.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €753,751 | - | -€753,751 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €15,647,255 | -€951,105 | -€16.6m | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€672,105 | - | +€672,105 | |
| Other operating charges | 640/8 | €1,880,412 | €545,662 | -€1.3m | -71.0% |
| Non-recurring operating charges | 66A | €907,040 | €1,487,864 | +€580,824 | +64.0% |
| Operating profit (loss) | 9901 | €27,525,343 | €2,353,292 | -€25.2m | -91.5% |
| Financial income | 75/76B | €582,192 | €982,475 | +€400,283 | +68.8% |
| Recurring financial income | 75 | €582,192 | €982,475 | +€400,283 | +68.8% |
| Income from current assets | 751 | €0 | €982,475 | +€982,475 | |
| Other financial income | 752/9 | €582,192 | - | -€582,192 | |
| Financial charges | 65/66B | €341,035 | €899,868 | +€558,833 | +163.9% |
| Recurring financial charges | 65 | €341,035 | €899,868 | +€558,833 | +163.9% |
| Debt charges | 650 | €284,631 | €172,042 | -€112,589 | -39.6% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | - | €718,925 | +€718,925 | |
| Other financial charges | 652/9 | €56,404 | €8,902 | -€47,502 | -84.2% |
| Profit (loss) for the period before taxes | 9903 | €27,766,501 | €2,435,899 | -€25.3m | -91.2% |
| Income taxes | 67/77 | €5,515 | €2,335 | -€3,181 | -57.7% |
| Taxes | 670/3 | €5,515 | €2,335 | -€3,181 | -57.7% |
| Profit (loss) for the period | 9904 | €27,760,985 | €2,433,565 | -€25.3m | -91.2% |
| Profit (loss) for the period to be appropriated | 9905 | €27,760,985 | €2,433,565 | -€25.3m | -91.2% |
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.