MATHIEU: 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.
MATHIEU
Largest movements
- Receivables after one year -€185,000
no longer reported in 2025 (was €185,000)
- Receivables within one year -€69,371
down €69,371 (-7.3%), from €946,664 to €877,293
of which Trade receivables: -€400,401
- Other debts -€425,000
down €425,000 (-68.0%), from €625,000 to €200,000
- Tax, wage and social debts +€81,772
up €81,772 (+22.0%), from €371,012 to €452,784
of which Remuneration and social security: +€123,924
- Trade debts +€47,741
up €47,741 (+288.3%), from €16,562 to €64,303
- Reserves +€38,444
up €38,444 (+59.3%), from €64,801 to €103,245
- Staff costs +€518,418
up €518,418 (+23.1%), from €2.2m to €2.8m
- Gross operating margin +€278,250
up €278,250 (+9.9%), from €2.8m to €3.1m
- Taxes -€46,810
down €46,810 (-31.5%), from €148,522 to €101,712
- Other operating charges -€32,383
down €32,383 (-89.0%), from €36,384 to €4,001
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 | €1,141,373 | €886,836 | -€254,538 | -22.3% |
| Fixed assets | 21/28 | €3,750 | €3,750 | = | 0.0% |
| Financial fixed assets | 28 | €3,750 | €3,750 | = | 0.0% |
| Current assets | 29/58 | €1,137,623 | €883,086 | -€254,538 | -22.4% |
| Amounts receivable after more than one year | 29 | €185,000 | - | -€185,000 | |
| Other amounts receivable | 291 | €185,000 | - | -€185,000 | |
| Stocks and contracts in progress | 3 | €2,497 | €2,634 | +€137 | +5.5% |
| Stocks | 30/36 | €2,497 | €2,634 | +€137 | +5.5% |
| Amounts receivable within one year | 40/41 | €946,664 | €877,293 | -€69,371 | -7.3% |
| Trade receivables | 40 | €862,727 | €462,326 | -€400,401 | -46.4% |
| Other amounts receivable | 41 | €83,937 | €414,966 | +€331,029 | +394.4% |
| Cash at bank and in hand | 54/58 | €560 | €1,905 | +€1,345 | +240.2% |
| Deferred charges and accrued income | 490/1 | €2,902 | €1,254 | -€1,648 | -56.8% |
| Total equity and liabilities | 10/49 | €1,141,373 | €886,836 | -€254,538 | -22.3% |
| Equity | 10/15 | €126,774 | €165,218 | +€38,444 | +30.3% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €64,801 | €103,245 | +€38,444 | +59.3% |
| Distributable reserves | 133 | €64,801 | €103,245 | +€38,444 | +59.3% |
| Amounts payable | 17/49 | €1,014,599 | €721,618 | -€292,981 | -28.9% |
| Amounts payable within one year | 42/48 | €1,014,599 | €721,610 | -€292,989 | -28.9% |
| Financial debts | 43 | €2,025 | €4,523 | +€2,498 | +123.4% |
| Credit institutions | 430/8 | €2,025 | €4,523 | +€2,498 | +123.4% |
| Trade debts | 44 | €16,562 | €64,303 | +€47,741 | +288.3% |
| Suppliers | 440/4 | €16,562 | €64,303 | +€47,741 | +288.3% |
| Taxes, remuneration and social security | 45 | €371,012 | €452,784 | +€81,772 | +22.0% |
| Taxes | 450/3 | €148,525 | €106,373 | -€42,152 | -28.4% |
| Remuneration and social security | 454/9 | €222,487 | €346,411 | +€123,924 | +55.7% |
| Other amounts payable | 47/48 | €625,000 | €200,000 | -€425,000 | -68.0% |
| Accrued charges and deferred income | 492/3 | - | €8 | +€8 | |
| Remuneration, social security and pensions | 62 | €2,241,206 | €2,759,624 | +€518,418 | +23.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €401 | - | -€401 | |
| Other operating charges | 640/8 | €36,384 | €4,001 | -€32,383 | -89.0% |
| Gross operating margin | 9900 | €2,810,318 | €3,088,568 | +€278,250 | +9.9% |
| Operating profit (loss) | 9901 | €532,328 | €324,943 | -€207,384 | -39.0% |
| Financial income | 75/76B | €8,628 | €20,520 | +€11,891 | +137.8% |
| Recurring financial income | 75 | €8,628 | €20,520 | +€11,891 | +137.8% |
| Financial charges | 65/66B | €10,211 | €5,307 | -€4,904 | -48.0% |
| Recurring financial charges | 65 | €10,211 | €5,307 | -€4,904 | -48.0% |
| Profit (loss) for the period before taxes | 9903 | €530,744 | €340,156 | -€190,589 | -35.9% |
| Income taxes | 67/77 | €148,522 | €101,712 | -€46,810 | -31.5% |
| Profit (loss) for the period | 9904 | €382,223 | €238,444 | -€143,779 | -37.6% |
| Profit (loss) for the period to be appropriated | 9905 | €382,223 | €238,444 | -€143,779 | -37.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.