MATHIAS BRONDER: 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.
MATHIAS BRONDER
Largest movements
- Tangible fixed assets -€22,275
down €22,275 (-23.4%), from €95,346 to €73,070
of which Furniture and vehicles: -€13,378
- Cash -€9,099
down €9,099 (-37.8%), from €24,066 to €14,967
mainly Debts after one year (-€13,156) and Other debts (-€10,210)
- Receivables within one year +€6,968
up €6,968 (+56.5%), from €12,336 to €19,304
of which Trade receivables: +€4,812
- Debts after one year -€13,156
down €13,156 (-29.3%), from €44,922 to €31,766
- Other debts -€10,210
down €10,210 (-15.8%), from €64,671 to €54,461
- Profit (loss) carried forward -€3,523
down €3,523 (-23.6%), from -€14,948 to -€18,471
- Tax, wage and social debts +€1,750
up €1,750 (+67.9%), from €2,579 to €4,329
of which Remuneration and social security: +€1,750
- Gross operating margin -€8,193
down €8,193 (-20.1%), from €40,816 to €32,623
- Depreciation -€1,358
down €1,358 (-4.0%), from €33,952 to €32,594
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 | €135,126 | €109,015 | -€26,111 | -19.3% |
| Fixed assets | 21/28 | €97,398 | €74,429 | -€22,969 | -23.6% |
| Intangible fixed assets | 21 | €2,052 | €1,358 | -€694 | -33.8% |
| Tangible fixed assets | 22/27 | €95,346 | €73,070 | -€22,275 | -23.4% |
| Plant, machinery and equipment | 23 | €25,848 | €15,379 | -€10,469 | -40.5% |
| Furniture and vehicles | 24 | €55,425 | €42,048 | -€13,378 | -24.1% |
| Other tangible fixed assets | 26 | €14,072 | €15,644 | +€1,572 | +11.2% |
| Current assets | 29/58 | €37,729 | €34,586 | -€3,142 | -8.3% |
| Amounts receivable within one year | 40/41 | €12,336 | €19,304 | +€6,968 | +56.5% |
| Trade receivables | 40 | €12,336 | €17,147 | +€4,812 | +39.0% |
| Other amounts receivable | 41 | - | €2,156 | +€2,156 | |
| Cash at bank and in hand | 54/58 | €24,066 | €14,967 | -€9,099 | -37.8% |
| Deferred charges and accrued income | 490/1 | €1,327 | €316 | -€1,011 | -76.2% |
| Total equity and liabilities | 10/49 | €135,126 | €109,015 | -€26,111 | -19.3% |
| Equity | 10/15 | €5,205 | €1,682 | -€3,523 | -67.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,553 | €1,553 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,553 | €1,553 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,553 | €1,553 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€14,948 | -€18,471 | -€3,523 | -23.6% |
| Amounts payable | 17/49 | €129,921 | €107,333 | -€22,588 | -17.4% |
| Amounts payable after more than one year | 17 | €44,922 | €31,766 | -€13,156 | -29.3% |
| Financial debts | 170/4 | €44,922 | €31,766 | -€13,156 | -29.3% |
| Amounts payable within one year | 42/48 | €84,999 | €75,418 | -€9,582 | -11.3% |
| Current portion of amounts payable after more than one year | 42 | €14,621 | €13,307 | -€1,313 | -9.0% |
| Trade debts | 44 | €3,129 | €3,321 | +€192 | +6.1% |
| Suppliers | 440/4 | €3,129 | €3,321 | +€192 | +6.1% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €2,579 | €4,329 | +€1,750 | +67.9% |
| Taxes | 450/3 | €2,579 | €2,579 | = | 0.0% |
| Remuneration and social security | 454/9 | €0 | €1,750 | +€1,750 | |
| Other amounts payable | 47/48 | €64,671 | €54,461 | -€10,210 | -15.8% |
| Accrued charges and deferred income | 492/3 | - | €150 | +€150 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,952 | €32,594 | -€1,358 | -4.0% |
| Other operating charges | 640/8 | €1,408 | €1,068 | -€340 | -24.1% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €40,816 | €32,623 | -€8,193 | -20.1% |
| Operating profit (loss) | 9901 | €5,456 | -€1,040 | -€6,496 | |
| Financial income | 75/76B | €3 | €0 | -€2 | -97.2% |
| Recurring financial income | 75 | €3 | €0 | -€2 | -97.2% |
| Financial charges | 65/66B | €2,254 | €2,140 | -€114 | -5.0% |
| Recurring financial charges | 65 | €2,254 | €2,140 | -€114 | -5.0% |
| Profit (loss) for the period before taxes | 9903 | €3,205 | -€3,180 | -€6,384 | |
| Income taxes | 67/77 | €329 | €344 | +€15 | +4.5% |
| Profit (loss) for the period | 9904 | €2,876 | -€3,523 | -€6,399 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,876 | -€3,523 | -€6,399 |
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 1 November 2026 via checked.be.