MATHIALEX: 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.
MATHIALEX
Largest movements
- Cash +€15,594
up €15,594 (+9.6%), from €162,685 to €178,279
mainly Net result for the year (+€114,244) and Depreciation (+€996)
- Profit (loss) carried forward +€114,244
new in 2025: €114,244
- Reserves -€87,500
down €87,500 (-61.5%), from €142,279 to €54,779
- Tax, wage and social debts -€6,130
down €6,130 (-15.2%), from €40,266 to €34,136
- Other debts -€3,159
down €3,159 (-55.9%), from €5,652 to €2,494
- Gross operating margin +€9,478
up €9,478 (+6.6%), from €142,737 to €152,215
- Taxes +€2,591
up €2,591 (+8.1%), from €31,889 to €34,479
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
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 | €193,951 | €211,723 | +€17,772 | +9.2% |
| Fixed assets | 21/28 | €2,194 | €3,306 | +€1,112 | +50.7% |
| Tangible fixed assets | 22/27 | €2,194 | €3,306 | +€1,112 | +50.7% |
| Plant, machinery and equipment | 23 | €2,194 | €3,306 | +€1,112 | +50.7% |
| Current assets | 29/58 | €191,758 | €208,417 | +€16,660 | +8.7% |
| Amounts receivable within one year | 40/41 | €24,947 | €26,667 | +€1,720 | +6.9% |
| Trade receivables | 40 | €24,947 | €26,667 | +€1,720 | +6.9% |
| Cash at bank and in hand | 54/58 | €162,685 | €178,279 | +€15,594 | +9.6% |
| Deferred charges and accrued income | 490/1 | €4,125 | €3,471 | -€654 | -15.9% |
| Total equity and liabilities | 10/49 | €193,951 | €211,723 | +€17,772 | +9.2% |
| Equity | 10/15 | €143,279 | €170,023 | +€26,744 | +18.7% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €142,279 | €54,779 | -€87,500 | -61.5% |
| Distributable reserves | 133 | €142,279 | €54,779 | -€87,500 | -61.5% |
| Profit (loss) carried forward | 14 | - | €114,244 | +€114,244 | |
| Amounts payable | 17/49 | €50,673 | €41,701 | -€8,972 | -17.7% |
| Amounts payable within one year | 42/48 | €50,673 | €41,701 | -€8,972 | -17.7% |
| Trade debts | 44 | €4,755 | €5,071 | +€316 | +6.7% |
| Suppliers | 440/4 | €4,755 | €5,071 | +€316 | +6.7% |
| Taxes, remuneration and social security | 45 | €40,266 | €34,136 | -€6,130 | -15.2% |
| Taxes | 450/3 | €40,266 | €34,136 | -€6,130 | -15.2% |
| Other amounts payable | 47/48 | €5,652 | €2,494 | -€3,159 | -55.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €576 | €996 | +€420 | +73.1% |
| Other operating charges | 640/8 | €815 | €677 | -€139 | -17.0% |
| Gross operating margin | 9900 | €142,737 | €152,215 | +€9,478 | +6.6% |
| Operating profit (loss) | 9901 | €141,347 | €150,543 | +€9,196 | +6.5% |
| Financial income | 75/76B | €37 | €165 | +€128 | +343% |
| Recurring financial income | 75 | €37 | €165 | +€128 | +343% |
| Financial charges | 65/66B | €2,312 | €1,984 | -€328 | -14.2% |
| Recurring financial charges | 65 | €2,312 | €1,984 | -€328 | -14.2% |
| Profit (loss) for the period before taxes | 9903 | €139,072 | €148,724 | +€9,652 | +6.9% |
| Income taxes | 67/77 | €31,889 | €34,479 | +€2,591 | +8.1% |
| Profit (loss) for the period | 9904 | €107,183 | €114,244 | +€7,061 | +6.6% |
| Profit (loss) for the period to be appropriated | 9905 | €107,183 | €114,244 | +€7,061 | +6.6% |
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 15 October 2026 via checked.be.