Mathias De Backer: 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 De Backer
Largest movements
- Tangible fixed assets +€28,850
up €28,850, from €0 to €28,850
of which Furniture and vehicles: +€27,509
- Receivables within one year -€13,076
down €13,076 (-29.7%), from €43,997 to €30,922
of which Other amounts receivable: -€7,128
- Receivables after one year +€12,000
new in 2025: €12,000
- Cash +€8,796
up €8,796 (+13.1%), from €67,237 to €76,032
mainly Net result for the year (+€111,895) and Receivables within one year (+€13,076)
- Profit (loss) carried forward +€111,895
up €111,895 (+856%), from €13,066 to €124,962
- Other debts -€59,355
down €59,355 (-90.8%), from €65,371 to €6,016
- Tax, wage and social debts -€12,466
down €12,466 (-58.7%), from €21,238 to €8,773
of which Taxes: -€12,466
- Accrued charges and deferred income -€4,679
down €4,679 (-99.1%), from €4,723 to €44
- Trade debts +€1,890
up €1,890 (+74.4%), from €2,541 to €4,432
- Financial charges -€33,373
down €33,373 (-97.8%), from €34,129 to €756
of which Non-recurring financial charges: -€32,998
- Gross operating margin +€13,770
up €13,770 (+10.4%), from €132,409 to €146,179
- Taxes +€11,790
up €11,790 (+58.2%), from €20,266 to €32,057
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 | €111,940 | €149,226 | +€37,286 | +33.3% |
| Fixed assets | 21/28 | €0 | €28,850 | +€28,850 | |
| Tangible fixed assets | 22/27 | €0 | €28,850 | +€28,850 | |
| Plant, machinery and equipment | 23 | €0 | €1,341 | +€1,341 | |
| Furniture and vehicles | 24 | - | €27,509 | +€27,509 | |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €111,940 | €120,376 | +€8,436 | +7.5% |
| Amounts receivable after more than one year | 29 | - | €12,000 | +€12,000 | |
| Other amounts receivable | 291 | - | €12,000 | +€12,000 | |
| Amounts receivable within one year | 40/41 | €43,997 | €30,922 | -€13,076 | -29.7% |
| Trade receivables | 40 | €25,613 | €19,666 | -€5,948 | -23.2% |
| Other amounts receivable | 41 | €18,384 | €11,256 | -€7,128 | -38.8% |
| Cash at bank and in hand | 54/58 | €67,237 | €76,032 | +€8,796 | +13.1% |
| Deferred charges and accrued income | 490/1 | €706 | €1,422 | +€716 | +101% |
| Total equity and liabilities | 10/49 | €111,940 | €149,226 | +€37,286 | +33.3% |
| Equity | 10/15 | €18,066 | €129,962 | +€111,895 | +619% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,066 | €124,962 | +€111,895 | +856% |
| Amounts payable | 17/49 | €93,873 | €19,264 | -€74,609 | -79.5% |
| Amounts payable within one year | 42/48 | €89,150 | €19,220 | -€69,930 | -78.4% |
| Trade debts | 44 | €2,541 | €4,432 | +€1,890 | +74.4% |
| Suppliers | 440/4 | €2,541 | €4,432 | +€1,890 | +74.4% |
| Taxes, remuneration and social security | 45 | €21,238 | €8,773 | -€12,466 | -58.7% |
| Taxes | 450/3 | €18,238 | €5,773 | -€12,466 | -68.3% |
| Remuneration and social security | 454/9 | €3,000 | €3,000 | = | 0.0% |
| Other amounts payable | 47/48 | €65,371 | €6,016 | -€59,355 | -90.8% |
| Accrued charges and deferred income | 492/3 | €4,723 | €44 | -€4,679 | -99.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €317 | €1,279 | +€961 | +303% |
| Other operating charges | 640/8 | €669 | €783 | +€114 | +17.1% |
| Gross operating margin | 9900 | €132,409 | €146,179 | +€13,770 | +10.4% |
| Operating profit (loss) | 9901 | €131,423 | €144,118 | +€12,695 | +9.7% |
| Financial income | 75/76B | €511 | €590 | +€79 | +15.4% |
| Recurring financial income | 75 | €511 | €590 | +€79 | +15.4% |
| Financial charges | 65/66B | €34,129 | €756 | -€33,373 | -97.8% |
| Recurring financial charges | 65 | €1,131 | €756 | -€375 | -33.2% |
| Non-recurring financial charges | 66B | €32,998 | €0 | -€32,998 | -100% |
| Profit (loss) for the period before taxes | 9903 | €97,805 | €143,952 | +€46,146 | +47.2% |
| Income taxes | 67/77 | €20,266 | €32,057 | +€11,790 | +58.2% |
| Profit (loss) for the period | 9904 | €77,539 | €111,895 | +€34,356 | +44.3% |
| Profit (loss) for the period to be appropriated | 9905 | €77,539 | €111,895 | +€34,356 | +44.3% |
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 18 October 2026 via checked.be.