Mathe I: 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.
Mathe I
Largest movements
- Financial fixed assets +€30,421
up €30,421 (+4.0%), from €752,026 to €782,448
- Tangible fixed assets -€26,781
down €26,781 (-5.7%), from €468,367 to €441,587
- Debts after one year +€17,034
up €17,034 (+4.2%), from €407,709 to €424,743
- Gross operating margin -€32,066
down €32,066 (-93.1%), from €34,443 to €2,376
- Other operating charges -€20,000
down €20,000 (-93.4%), from €21,414 to €1,414
- Financial income -€11,962
down €11,962 (-27.6%), from €43,383 to €31,421
- Financial charges -€4,534
down €4,534 (-21.0%), from €21,613 to €17,079
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
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 | €1,229,015 | €1,231,281 | +€2,267 | +0.2% |
| Fixed assets | 21/28 | €1,220,393 | €1,224,034 | +€3,641 | +0.3% |
| Tangible fixed assets | 22/27 | €468,367 | €441,587 | -€26,781 | -5.7% |
| Land and buildings | 22 | €468,367 | €441,587 | -€26,781 | -5.7% |
| Financial fixed assets | 28 | €752,026 | €782,448 | +€30,421 | +4.0% |
| Current assets | 29/58 | €8,621 | €7,247 | -€1,374 | -15.9% |
| Amounts receivable within one year | 40/41 | €3,291 | €1,513 | -€1,779 | -54.0% |
| Trade receivables | 40 | €3,291 | €1,513 | -€1,779 | -54.0% |
| Current investments | 50/53 | €5,330 | €5,735 | +€405 | +7.6% |
| Total equity and liabilities | 10/49 | €1,229,015 | €1,231,281 | +€2,267 | +0.2% |
| Equity | 10/15 | €813,300 | €801,824 | -€11,476 | -1.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €794,700 | €783,224 | -€11,476 | -1.4% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €792,840 | €783,224 | -€9,616 | -1.2% |
| Amounts payable | 17/49 | €415,715 | €429,458 | +€13,743 | +3.3% |
| Amounts payable after more than one year | 17 | €407,709 | €424,743 | +€17,034 | +4.2% |
| Financial debts | 170/4 | €407,709 | €424,743 | +€17,034 | +4.2% |
| Amounts payable within one year | 42/48 | €8,005 | €4,714 | -€3,291 | -41.1% |
| Trade debts | 44 | €3,958 | €1,344 | -€2,614 | -66.0% |
| Suppliers | 440/4 | €3,958 | €1,344 | -€2,614 | -66.0% |
| Advances received on contracts in progress | 46 | €3,386 | - | -€3,386 | |
| Taxes, remuneration and social security | 45 | €662 | €3,370 | +€2,708 | +409% |
| Taxes | 450/3 | €662 | €3,370 | +€2,708 | +409% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,781 | €26,781 | = | 0.0% |
| Other operating charges | 640/8 | €21,414 | €1,414 | -€20,000 | -93.4% |
| Gross operating margin | 9900 | €34,443 | €2,376 | -€32,066 | -93.1% |
| Operating profit (loss) | 9901 | -€13,752 | -€25,818 | -€12,067 | -87.7% |
| Financial income | 75/76B | €43,383 | €31,421 | -€11,962 | -27.6% |
| Recurring financial income | 75 | €43,383 | €31,421 | -€11,962 | -27.6% |
| Financial charges | 65/66B | €21,613 | €17,079 | -€4,534 | -21.0% |
| Recurring financial charges | 65 | €21,613 | €17,079 | -€4,534 | -21.0% |
| Profit (loss) for the period before taxes | 9903 | €8,018 | -€11,476 | -€19,494 | |
| Profit (loss) for the period | 9904 | €8,018 | -€11,476 | -€19,494 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,018 | -€11,476 | -€19,494 |
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 14 October 2026 via checked.be.