MATHI GIJBELS: 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.
MATHI GIJBELS
Largest movements
- Tangible fixed assets -€351,051
down €351,051 (-72.4%), from €484,808 to €133,756
of which Land and buildings: -€281,616
- Stocks and contracts +€306,383
new in 2025: €306,383
- Receivables after one year -€102,672
down €102,672 (-100.0%), from €102,672 to €0
- Cash -€22,281
down €22,281 (-11.6%), from €192,783 to €170,503
mainly Stocks and contracts (-€306,383) and Other debts (-€90,300)
- Receivables within one year +€8,321
up €8,321, from €0 to €8,321
of which Other amounts receivable: +€7,516
- Other debts -€90,300
down €90,300 (-25.2%), from €358,887 to €268,587
- Reserves -€43,880
down €43,880 (-11.3%), from €388,093 to €344,213
of which Distributable reserves: -€43,880
- Tax, wage and social debts -€17,462
down €17,462 (-96.1%), from €18,176 to €714
- Trade debts -€10,224
down €10,224 (-100.0%), from €10,224 to €0
- Gross operating margin -€78,895
down €78,895, from €71,584 to -€7,311
- Depreciation -€46,776
down €46,776 (-75.1%), from €62,324 to €15,548
- Financial income -€2,317
down €2,317 (-38.8%), from €5,974 to €3,657
- Financial charges -€2,043
down €2,043 (-16.5%), from €12,363 to €10,320
- Taxes -€1,562
down €1,562 (-85.2%), from €1,834 to €272
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 | €784,231 | €619,714 | -€164,517 | -21.0% |
| Fixed assets | 21/28 | €484,808 | €133,756 | -€351,051 | -72.4% |
| Tangible fixed assets | 22/27 | €484,808 | €133,756 | -€351,051 | -72.4% |
| Land and buildings | 22 | €281,616 | €0 | -€281,616 | -100.0% |
| Plant, machinery and equipment | 23 | €2,479 | €2,704 | +€225 | +9.1% |
| Furniture and vehicles | 24 | €87,894 | €18,233 | -€69,661 | -79.3% |
| Other tangible fixed assets | 26 | €112,819 | €112,819 | = | 0.0% |
| Current assets | 29/58 | €299,423 | €485,958 | +€186,535 | +62.3% |
| Amounts receivable after more than one year | 29 | €102,672 | €0 | -€102,672 | -100.0% |
| Other amounts receivable | 291 | €102,672 | €0 | -€102,672 | -100.0% |
| Stocks and contracts in progress | 3 | - | €306,383 | +€306,383 | |
| Stocks | 30/36 | - | €306,383 | +€306,383 | |
| Amounts receivable within one year | 40/41 | €0 | €8,321 | +€8,321 | |
| Trade receivables | 40 | €0 | €805 | +€805 | |
| Other amounts receivable | 41 | €0 | €7,516 | +€7,516 | |
| Cash at bank and in hand | 54/58 | €192,783 | €170,503 | -€22,281 | -11.6% |
| Deferred charges and accrued income | 490/1 | €3,968 | €752 | -€3,217 | -81.1% |
| Total equity and liabilities | 10/49 | €784,231 | €619,714 | -€164,517 | -21.0% |
| Equity | 10/15 | €394,293 | €350,413 | -€43,880 | -11.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €388,093 | €344,213 | -€43,880 | -11.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €386,233 | €342,353 | -€43,880 | -11.4% |
| Amounts payable | 17/49 | €389,938 | €269,301 | -€120,637 | -30.9% |
| Amounts payable within one year | 42/48 | €387,287 | €269,301 | -€117,986 | -30.5% |
| Trade debts | 44 | €10,224 | €0 | -€10,224 | -100.0% |
| Suppliers | 440/4 | €10,224 | €0 | -€10,224 | -100.0% |
| Taxes, remuneration and social security | 45 | €18,176 | €714 | -€17,462 | -96.1% |
| Taxes | 450/3 | €18,176 | €714 | -€17,462 | -96.1% |
| Other amounts payable | 47/48 | €358,887 | €268,587 | -€90,300 | -25.2% |
| Accrued charges and deferred income | 492/3 | €2,651 | €0 | -€2,651 | -100.0% |
| Non-recurring operating income | 76A | - | €884 | +€884 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,324 | €15,548 | -€46,776 | -75.1% |
| Other operating charges | 640/8 | €1,477 | €1,673 | +€197 | +13.3% |
| Non-recurring operating charges | 66A | €0 | €12,413 | +€12,413 | |
| Gross operating margin | 9900 | €71,584 | -€7,311 | -€78,895 | |
| Operating profit (loss) | 9901 | €7,784 | -€36,945 | -€44,729 | |
| Financial income | 75/76B | €5,974 | €3,657 | -€2,317 | -38.8% |
| Recurring financial income | 75 | €5,974 | €3,657 | -€2,317 | -38.8% |
| Financial charges | 65/66B | €12,363 | €10,320 | -€2,043 | -16.5% |
| Recurring financial charges | 65 | €12,363 | €10,320 | -€2,043 | -16.5% |
| Profit (loss) for the period before taxes | 9903 | €1,396 | -€43,608 | -€45,004 | |
| Income taxes | 67/77 | €1,834 | €272 | -€1,562 | -85.2% |
| Profit (loss) for the period | 9904 | -€438 | -€43,880 | -€43,442 | -9910.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€438 | -€43,880 | -€43,442 | -9910.5% |
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.