MATH’ERAPIE: 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.
MATH’ERAPIE
Largest movements
- Receivables within one year +€24,227
up €24,227 (+807.6%), from €3,000 to €27,227
of which Trade receivables: +€14,034
- Intangible fixed assets -€14,999
down €14,999 (-10.0%), from €149,958 to €134,959
- Deferred charges and accrued income +€14,722
new in 2025: €14,722
- Trade debts -€147,350
down €147,350 (-97.7%), from €150,859 to €3,509
- Debts after one year +€129,168
new in 2025: €129,168
- Current portion of long-term debt +€24,110
new in 2025: €24,110
- Tax, wage and social debts +€8,862
new in 2025: €8,862
- Profit (loss) carried forward +€7,732
up €7,732, from -€42 to €7,690
- Gross operating margin +€39,203
new in 2025: €39,203
- Depreciation +€15,173
up €15,173 (+36125.7%), from €42 to €15,215
- Financial charges +€13,462
new in 2025: €13,462
- Taxes +€2,199
new in 2025: €2,199
- Other operating charges +€612
new in 2025: €612
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 | €153,817 | €177,552 | +€23,735 | +15.4% |
| Formation expenses | 20 | €859 | €644 | -€215 | -25.1% |
| Fixed assets | 21/28 | €149,958 | €134,959 | -€14,999 | -10.0% |
| Intangible fixed assets | 21 | €149,958 | €134,959 | -€14,999 | -10.0% |
| Current assets | 29/58 | €3,000 | €41,949 | +€38,949 | +1298.3% |
| Amounts receivable within one year | 40/41 | €3,000 | €27,227 | +€24,227 | +807.6% |
| Trade receivables | 40 | - | €14,034 | +€14,034 | |
| Other amounts receivable | 41 | €3,000 | €13,192 | +€10,192 | +339.7% |
| Deferred charges and accrued income | 490/1 | - | €14,722 | +€14,722 | |
| Total equity and liabilities | 10/49 | €153,817 | €177,552 | +€23,735 | +15.4% |
| Equity | 10/15 | €2,958 | €10,690 | +€7,732 | +261.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€42 | €7,690 | +€7,732 | |
| Amounts payable | 17/49 | €150,859 | €166,862 | +€16,003 | +10.6% |
| Amounts payable after more than one year | 17 | - | €129,168 | +€129,168 | |
| Financial debts | 170/4 | - | €129,168 | +€129,168 | |
| Amounts payable within one year | 42/48 | €150,859 | €37,694 | -€113,165 | -75.0% |
| Current portion of amounts payable after more than one year | 42 | - | €24,110 | +€24,110 | |
| Financial debts | 43 | - | €1,214 | +€1,214 | |
| Credit institutions | 430/8 | - | €1,214 | +€1,214 | |
| Trade debts | 44 | €150,859 | €3,509 | -€147,350 | -97.7% |
| Suppliers | 440/4 | €150,859 | €3,509 | -€147,350 | -97.7% |
| Taxes, remuneration and social security | 45 | - | €8,862 | +€8,862 | |
| Taxes | 450/3 | - | €8,862 | +€8,862 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42 | €15,215 | +€15,173 | +36125.7% |
| Other operating charges | 640/8 | - | €612 | +€612 | |
| Gross operating margin | 9900 | - | €39,203 | +€39,203 | |
| Operating profit (loss) | 9901 | -€42 | €23,376 | +€23,418 | |
| Financial income | 75/76B | - | €17 | +€17 | |
| Recurring financial income | 75 | - | €17 | +€17 | |
| Financial charges | 65/66B | - | €13,462 | +€13,462 | |
| Recurring financial charges | 65 | - | €13,462 | +€13,462 | |
| Profit (loss) for the period before taxes | 9903 | -€42 | €9,931 | +€9,973 | |
| Income taxes | 67/77 | - | €2,199 | +€2,199 | |
| Profit (loss) for the period | 9904 | -€42 | €7,732 | +€7,774 | |
| Profit (loss) for the period to be appropriated | 9905 | -€42 | €7,732 | +€7,774 |
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 10 October 2026 via checked.be.