MATHIEU & BOUILLOT: 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 & BOUILLOT
Largest movements
- Cash -€24,128
down €24,128 (-16.3%), from €147,659 to €123,530
mainly Debts after one year (-€23,918) and Trade debts (-€16,715)
- Tangible fixed assets -€21,751
down €21,751 (-9.6%), from €226,779 to €205,027
of which Land and buildings: -€19,418
- Stocks and contracts +€14,192
up €14,192 (+128.1%), from €11,079 to €25,271
of which Stocks: +€22,692
- Debts after one year -€23,918
down €23,918 (-39.0%), from €61,378 to €37,460
- Trade debts -€16,715
down €16,715 (-12.5%), from €133,566 to €116,851
- Turnover -€398,855
no longer reported in 2025 (was €398,855)
- Purchases and services -€290,191
no longer reported in 2025 (was €290,191)
- Gross operating margin -€45,818
down €45,818 (-39.5%), from €116,026 to €70,208
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 | €489,191 | €450,836 | -€38,355 | -7.8% |
| Fixed assets | 21/28 | €226,779 | €205,027 | -€21,751 | -9.6% |
| Tangible fixed assets | 22/27 | €226,779 | €205,027 | -€21,751 | -9.6% |
| Land and buildings | 22 | €206,938 | €187,520 | -€19,418 | -9.4% |
| Plant, machinery and equipment | 23 | €19,841 | €17,508 | -€2,333 | -11.8% |
| Current assets | 29/58 | €262,413 | €245,809 | -€16,604 | -6.3% |
| Stocks and contracts in progress | 3 | €11,079 | €25,271 | +€14,192 | +128.1% |
| Stocks | 30/36 | €2,579 | €25,271 | +€22,692 | +879.9% |
| Contracts in progress | 37 | €8,500 | - | -€8,500 | |
| Amounts receivable within one year | 40/41 | €100,378 | €96,593 | -€3,786 | -3.8% |
| Trade receivables | 40 | €94,195 | €95,443 | +€1,248 | +1.3% |
| Other amounts receivable | 41 | €6,183 | €1,149 | -€5,033 | -81.4% |
| Current investments | 50/53 | €55 | - | -€55 | |
| Cash at bank and in hand | 54/58 | €147,659 | €123,530 | -€24,128 | -16.3% |
| Deferred charges and accrued income | 490/1 | €3,242 | €415 | -€2,827 | -87.2% |
| Total equity and liabilities | 10/49 | €489,191 | €450,836 | -€38,355 | -7.8% |
| Equity | 10/15 | €263,499 | €264,859 | +€1,360 | +0.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €3,449 | €3,449 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,449 | - | -€1,449 | |
| Distributable reserves | 133 | €2,000 | €3,449 | +€1,449 | +72.4% |
| Profit (loss) carried forward | 14 | €240,051 | €241,410 | +€1,360 | +0.6% |
| Amounts payable | 17/49 | €225,692 | €185,977 | -€39,715 | -17.6% |
| Amounts payable after more than one year | 17 | €61,378 | €37,460 | -€23,918 | -39.0% |
| Financial debts | 170/4 | €61,378 | €37,460 | -€23,918 | -39.0% |
| Amounts payable within one year | 42/48 | €164,314 | €147,423 | -€16,892 | -10.3% |
| Current portion of amounts payable after more than one year | 42 | €24,380 | €23,918 | -€462 | -1.9% |
| Trade debts | 44 | €133,566 | €116,851 | -€16,715 | -12.5% |
| Suppliers | 440/4 | €133,566 | €116,851 | -€16,715 | -12.5% |
| Taxes, remuneration and social security | 45 | €6,368 | €4,403 | -€1,966 | -30.9% |
| Taxes | 450/3 | €461 | €691 | +€230 | +49.8% |
| Remuneration and social security | 454/9 | €5,907 | €3,711 | -€2,196 | -37.2% |
| Other amounts payable | 47/48 | - | €2,252 | +€2,252 | |
| Accrued charges and deferred income | 492/3 | - | €1,094 | +€1,094 | |
| Turnover | 70 | €398,855 | - | -€398,855 | |
| Goods, raw materials, services and sundry goods | 60/61 | €290,191 | - | -€290,191 | |
| Remuneration, social security and pensions | 62 | €35,653 | €32,819 | -€2,833 | -7.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,026 | €21,751 | -€2,274 | -9.5% |
| Other operating charges | 640/8 | €9,954 | €12,794 | +€2,841 | +28.5% |
| Gross operating margin | 9900 | €116,026 | €70,208 | -€45,818 | -39.5% |
| Operating profit (loss) | 9901 | €46,394 | €2,844 | -€43,550 | -93.9% |
| Financial income | 75/76B | €37 | - | -€37 | |
| Recurring financial income | 75 | €37 | - | -€37 | |
| Financial charges | 65/66B | €3,836 | €561 | -€3,275 | -85.4% |
| Recurring financial charges | 65 | €3,836 | €561 | -€3,275 | -85.4% |
| Profit (loss) for the period before taxes | 9903 | €42,595 | €2,283 | -€40,312 | -94.6% |
| Income taxes | 67/77 | - | €923 | +€923 | |
| Profit (loss) for the period | 9904 | €42,595 | €1,360 | -€41,235 | -96.8% |
| Profit (loss) for the period to be appropriated | 9905 | €42,595 | €1,360 | -€41,235 | -96.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.