Mathias Heylen: 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 Heylen
Largest movements
- Receivables within one year +€38,486
up €38,486 (+923%), from €4,170 to €42,655
of which Other amounts receivable: +€39,461
- Cash -€37,020
down €37,020 (-83.0%), from €44,624 to €7,604
mainly Receivables within one year (-€38,486) and Tax, wage and social debts (-€6,101)
- Tangible fixed assets -€1,476
down €1,476 (-31.5%), from €4,693 to €3,217
- Deferred charges and accrued income -€1,247
down €1,247 (-15.9%), from €7,818 to €6,571
- Reserves +€6,115
up €6,115 (+11.0%), from €55,382 to €61,497
- Tax, wage and social debts -€6,101
down €6,101 (-97.6%), from €6,251 to €150
- Accrued charges and deferred income -€1,000
no longer reported in 2025 (was €1,000)
- Gross operating margin -€14,536
down €14,536 (-55.0%), from €26,419 to €11,883
- Taxes -€3,117
down €3,117 (-48.2%), from €6,468 to €3,352
- Depreciation -€959
down €959 (-39.4%), from €2,435 to €1,476
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 | €75,305 | €74,047 | -€1,257 | -1.7% |
| Fixed assets | 21/28 | €4,693 | €3,217 | -€1,476 | -31.5% |
| Tangible fixed assets | 22/27 | €4,693 | €3,217 | -€1,476 | -31.5% |
| Furniture and vehicles | 24 | €4,693 | €3,217 | -€1,476 | -31.5% |
| Current assets | 29/58 | €70,611 | €70,831 | +€219 | +0.3% |
| Amounts receivable after more than one year | 29 | €14,000 | €14,000 | = | 0.0% |
| Other amounts receivable | 291 | €14,000 | €14,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €4,170 | €42,655 | +€38,486 | +923% |
| Trade receivables | 40 | €3,646 | €2,670 | -€976 | -26.8% |
| Other amounts receivable | 41 | €524 | €39,985 | +€39,461 | +7,535% |
| Cash at bank and in hand | 54/58 | €44,624 | €7,604 | -€37,020 | -83.0% |
| Deferred charges and accrued income | 490/1 | €7,818 | €6,571 | -€1,247 | -15.9% |
| Total equity and liabilities | 10/49 | €75,305 | €74,047 | -€1,257 | -1.7% |
| Equity | 10/15 | €67,782 | €73,897 | +€6,115 | +9.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €55,382 | €61,497 | +€6,115 | +11.0% |
| Distributable reserves | 133 | €55,382 | €61,497 | +€6,115 | +11.0% |
| Amounts payable | 17/49 | €7,522 | €150 | -€7,372 | -98.0% |
| Amounts payable within one year | 42/48 | €6,522 | €150 | -€6,372 | -97.7% |
| Trade debts | 44 | €272 | - | -€272 | |
| Suppliers | 440/4 | €272 | - | -€272 | |
| Taxes, remuneration and social security | 45 | €6,251 | €150 | -€6,101 | -97.6% |
| Taxes | 450/3 | €6,251 | €150 | -€6,101 | -97.6% |
| Accrued charges and deferred income | 492/3 | €1,000 | - | -€1,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,435 | €1,476 | -€959 | -39.4% |
| Other operating charges | 640/8 | €819 | €691 | -€128 | -15.6% |
| Gross operating margin | 9900 | €26,419 | €11,883 | -€14,536 | -55.0% |
| Operating profit (loss) | 9901 | €23,165 | €9,715 | -€13,449 | -58.1% |
| Financial income | 75/76B | €276 | €106 | -€169 | -61.4% |
| Recurring financial income | 75 | €276 | €106 | -€169 | -61.4% |
| Financial charges | 65/66B | €272 | €355 | +€83 | +30.4% |
| Recurring financial charges | 65 | €272 | €355 | +€83 | +30.4% |
| Profit (loss) for the period before taxes | 9903 | €23,168 | €9,467 | -€13,701 | -59.1% |
| Income taxes | 67/77 | €6,468 | €3,352 | -€3,117 | -48.2% |
| Profit (loss) for the period | 9904 | €16,700 | €6,115 | -€10,585 | -63.4% |
| Profit (loss) for the period to be appropriated | 9905 | €16,700 | €6,115 | -€10,585 | -63.4% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.