MATHIAAV: 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.
MATHIAAV
Largest movements
- Cash -€64,539
down €64,539 (-99.3%), from €64,981 to €442
mainly Receivables within one year (-€52,737) and Trade debts (-€40,757)
- Receivables within one year +€52,737
up €52,737 (+28.4%), from €185,991 to €238,728
of which Trade receivables: +€40,694
- Tangible fixed assets -€40,093
down €40,093 (-64.4%), from €62,286 to €22,193
of which Furniture and vehicles: -€39,278
- Trade debts -€40,757
down €40,757 (-53.9%), from €75,571 to €34,814
- Debts after one year -€18,807
down €18,807 (-36.2%), from €51,983 to €33,176
- Profit (loss) carried forward +€5,415
up €5,415 (+3.5%), from €152,697 to €158,112
- Other operating charges +€18,987
up €18,987 (+1912.1%), from €993 to €19,980
- Gross operating margin +€12,864
up €12,864 (+20.3%), from €63,476 to €76,340
- Depreciation -€11,473
down €11,473 (-46.0%), from €24,932 to €13,459
- Taxes +€5,843
up €5,843 (+297.2%), from €1,966 to €7,809
- Staff costs -€3,304
down €3,304 (-11.5%), from €28,800 to €25,496
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 | €316,769 | €262,611 | -€54,158 | -17.1% |
| Fixed assets | 21/28 | €62,748 | €22,655 | -€40,093 | -63.9% |
| Tangible fixed assets | 22/27 | €62,286 | €22,193 | -€40,093 | -64.4% |
| Plant, machinery and equipment | 23 | €1,468 | €653 | -€815 | -55.5% |
| Furniture and vehicles | 24 | €60,818 | €21,540 | -€39,278 | -64.6% |
| Financial fixed assets | 28 | €462 | €462 | = | 0.0% |
| Current assets | 29/58 | €254,021 | €239,956 | -€14,065 | -5.5% |
| Amounts receivable within one year | 40/41 | €185,991 | €238,728 | +€52,737 | +28.4% |
| Trade receivables | 40 | €108,819 | €149,513 | +€40,694 | +37.4% |
| Other amounts receivable | 41 | €77,172 | €89,215 | +€12,043 | +15.6% |
| Cash at bank and in hand | 54/58 | €64,981 | €442 | -€64,539 | -99.3% |
| Deferred charges and accrued income | 490/1 | €3,049 | €786 | -€2,263 | -74.2% |
| Total equity and liabilities | 10/49 | €316,769 | €262,611 | -€54,158 | -17.1% |
| Equity | 10/15 | €156,697 | €162,112 | +€5,415 | +3.5% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €152,697 | €158,112 | +€5,415 | +3.5% |
| Amounts payable | 17/49 | €160,072 | €100,499 | -€59,573 | -37.2% |
| Amounts payable after more than one year | 17 | €51,983 | €33,176 | -€18,807 | -36.2% |
| Financial debts | 170/4 | €51,983 | €33,176 | -€18,807 | -36.2% |
| Amounts payable within one year | 42/48 | €108,089 | €67,323 | -€40,766 | -37.7% |
| Current portion of amounts payable after more than one year | 42 | €17,687 | €17,938 | +€251 | +1.4% |
| Trade debts | 44 | €75,571 | €34,814 | -€40,757 | -53.9% |
| Suppliers | 440/4 | €75,571 | €34,814 | -€40,757 | -53.9% |
| Taxes, remuneration and social security | 45 | €14,831 | €14,571 | -€260 | -1.8% |
| Taxes | 450/3 | €9,512 | €11,607 | +€2,095 | +22.0% |
| Remuneration and social security | 454/9 | €5,319 | €2,964 | -€2,355 | -44.3% |
| Remuneration, social security and pensions | 62 | €28,800 | €25,496 | -€3,304 | -11.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,932 | €13,459 | -€11,473 | -46.0% |
| Other operating charges | 640/8 | €993 | €19,980 | +€18,987 | +1912.1% |
| Non-recurring operating charges | 66A | - | €1,523 | +€1,523 | |
| Gross operating margin | 9900 | €63,476 | €76,340 | +€12,864 | +20.3% |
| Operating profit (loss) | 9901 | €8,751 | €15,882 | +€7,131 | +81.5% |
| Financial income | 75/76B | €3,356 | €4,356 | +€1,000 | +29.8% |
| Recurring financial income | 75 | €3,356 | €4,356 | +€1,000 | +29.8% |
| Financial charges | 65/66B | €5,335 | €7,014 | +€1,679 | +31.5% |
| Recurring financial charges | 65 | €5,335 | €7,014 | +€1,679 | +31.5% |
| Profit (loss) for the period before taxes | 9903 | €6,772 | €13,224 | +€6,452 | +95.3% |
| Income taxes | 67/77 | €1,966 | €7,809 | +€5,843 | +297.2% |
| Profit (loss) for the period | 9904 | €4,806 | €5,415 | +€609 | +12.7% |
| Profit (loss) for the period to be appropriated | 9905 | €4,806 | €5,415 | +€609 | +12.7% |
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 5 October 2026 via checked.be.