Mathéline Engineering & Management: 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.
What changed
Mathéline Engineering & Management
NACE 82.990, Other business support services
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€41,972
2024 · €64,759-€22,787
Equity
€364,955
2024 · €324,648+€40,306
Cash
€648,301
2024 · €501,036+€147,265
Balance sheet total
€1.1m
2024 · €950,550+€122,225
Largest movements
Assets
- Cash +€147,265
up €147,265 (+29.4%), from €501,036 to €648,301
mainly Other debts (+€84,125) and Net result for the year (+€41,972)
- Tangible fixed assets -€34,308
down €34,308 (-8.2%), from €416,851 to €382,543
Equity and liabilities
- Other debts +€84,125
up €84,125 (+34.9%), from €241,295 to €325,420
- Reserves +€41,972
up €41,972 (+2,257%), from €1,860 to €43,832
Income statement
- Gross operating margin -€22,659
down €22,659 (-14.0%), from €162,371 to €139,712
- Financial charges +€3,680
up €3,680 (+8.4%), from €43,785 to €47,466
- Financial income +€2,837
new in 2025: €2,837
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
€64,759
Gross operating margin
-€22,659
Depreciation
+€577
Other operating charges
-€183
Financial income
+€2,837
Financial charges
-€3,680
Taxes
+€321
Result 2025
€41,972
raises the resultlowers the result
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.
From operations
+€151,569
Investment
-€1,293
Financing
-€3,011
Cash 2024
€501,036
From operations (derived)
+€151,569
Net result for the year
+€41,972
Depreciation
+€35,601
Receivables within one year
-€9,268
Provisions
-€3,181
Trade debts
+€91
Tax, wage and social debts
+€2,229
Other debts
+€84,125
Investment (derived)
-€1,293
Investment in fixed assets (net)
-€1,293
Financing
-€3,011
Debts after one year
-€1,419
Current portion of long-term debt
+€74
Contributions, distributions and other
-€1,666
Cash 2025
€648,301
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €950,550 | €1,072,775 | +€122,225 | +12.9% |
| Fixed assets | 21/28 | €417,101 | €382,793 | -€34,308 | -8.2% |
| Tangible fixed assets | 22/27 | €416,851 | €382,543 | -€34,308 | -8.2% |
| Land and buildings | 22 | €187,273 | €173,482 | -€13,791 | -7.4% |
| Plant, machinery and equipment | 23 | €33,374 | €27,950 | -€5,424 | -16.3% |
| Leasing and similar rights | 25 | €196,204 | €181,111 | -€15,093 | -7.7% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €533,449 | €689,982 | +€156,533 | +29.3% |
| Amounts receivable within one year | 40/41 | €32,413 | €41,681 | +€9,268 | +28.6% |
| Trade receivables | 40 | €32,368 | €36,531 | +€4,163 | +12.9% |
| Other amounts receivable | 41 | €45 | €5,150 | +€5,105 | +11,470% |
| Cash at bank and in hand | 54/58 | €501,036 | €648,301 | +€147,265 | +29.4% |
| Total equity and liabilities | 10/49 | €950,550 | €1,072,775 | +€122,225 | +12.9% |
| Equity | 10/15 | €324,648 | €364,955 | +€40,306 | +12.4% |
| Reserves | 13 | €1,860 | €43,832 | +€41,972 | +2,257% |
| Distributable reserves | 133 | €1,860 | €43,832 | +€41,972 | +2,257% |
| Profit (loss) carried forward | 14 | €310,100 | €308,434 | -€1,666 | -0.5% |
| Investment grants | 15 | €12,688 | €12,688 | = | 0.0% |
| Provisions and deferred taxes | 16 | €341,158 | €337,977 | -€3,181 | -0.9% |
| Provisions for liabilities and charges | 160/5 | €341,158 | €337,977 | -€3,181 | -0.9% |
| Pensions and similar obligations | 160 | €341,158 | €337,977 | -€3,181 | -0.9% |
| Amounts payable | 17/49 | €284,744 | €369,843 | +€85,100 | +29.9% |
| Amounts payable after more than one year | 17 | €23,255 | €21,835 | -€1,419 | -6.1% |
| Financial debts | 170/4 | €23,255 | €21,835 | -€1,419 | -6.1% |
| Amounts payable within one year | 42/48 | €261,489 | €348,008 | +€86,519 | +33.1% |
| Current portion of amounts payable after more than one year | 42 | €1,345 | €1,419 | +€74 | +5.5% |
| Trade debts | 44 | €5,321 | €5,412 | +€91 | +1.7% |
| Suppliers | 440/4 | €5,321 | €5,412 | +€91 | +1.7% |
| Taxes, remuneration and social security | 45 | €13,527 | €15,756 | +€2,229 | +16.5% |
| Taxes | 450/3 | €13,527 | €15,756 | +€2,229 | +16.5% |
| Other amounts payable | 47/48 | €241,295 | €325,420 | +€84,125 | +34.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,178 | €35,601 | -€577 | -1.6% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€3,181 | -€3,181 | = | 0.0% |
| Other operating charges | 640/8 | €4,101 | €4,284 | +€183 | +4.5% |
| Gross operating margin | 9900 | €162,371 | €139,712 | -€22,659 | -14.0% |
| Operating profit (loss) | 9901 | €125,273 | €103,009 | -€22,265 | -17.8% |
| Financial income | 75/76B | - | €2,837 | +€2,837 | |
| Recurring financial income | 75 | - | €2,837 | +€2,837 | |
| Financial charges | 65/66B | €43,785 | €47,466 | +€3,680 | +8.4% |
| Recurring financial charges | 65 | €43,785 | €47,466 | +€3,680 | +8.4% |
| Profit (loss) for the period before taxes | 9903 | €81,488 | €58,380 | -€23,108 | -28.4% |
| Income taxes | 67/77 | €16,729 | €16,408 | -€321 | -1.9% |
| Profit (loss) for the period | 9904 | €64,759 | €41,972 | -€22,787 | -35.2% |
| Profit (loss) for the period to be appropriated | 9905 | €64,759 | €41,972 | -€22,787 | -35.2% |
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 16 October 2026 via checked.be.