MATHIEU DESMEDT: 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.
MATHIEU DESMEDT
Largest movements
- Tangible fixed assets -€2,749
down €2,749 (-100%), from €2,749 to €0
of which Furniture and vehicles: -€2,553
- Receivables within one year -€2,318
down €2,318 (-17.4%), from €13,332 to €11,014
of which Trade receivables: -€2,118
- Deferred charges and accrued income -€696
down €696 (-49.2%), from €1,415 to €719
- Intangible fixed assets -€486
down €486 (-100%), from €486 to €0
- Profit (loss) carried forward -€6,628
down €6,628 (-72.3%), from -€9,172 to -€15,800
- Other debts +€6,604
up €6,604 (+152%), from €4,359 to €10,963
- Trade debts -€6,192
down €6,192 (-95.8%), from €6,465 to €273
- Gross operating margin +€8,454
up €8,454 (+72.1%), from -€11,728 to -€3,274
- Depreciation -€978
down €978 (-23.2%), from €4,213 to €3,235
- Financial charges -€274
down €274 (-69.7%), from €393 to €119
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 | €43,012 | €36,796 | -€6,216 | -14.5% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | €3,235 | €0 | -€3,235 | -100% |
| Intangible fixed assets | 21 | €486 | €0 | -€486 | -100% |
| Tangible fixed assets | 22/27 | €2,749 | €0 | -€2,749 | -100% |
| Plant, machinery and equipment | 23 | €196 | €0 | -€196 | -100% |
| Furniture and vehicles | 24 | €2,553 | €0 | -€2,553 | -100% |
| Current assets | 29/58 | €39,777 | €36,796 | -€2,981 | -7.5% |
| Amounts receivable after more than one year | 29 | €25,000 | €25,000 | = | 0.0% |
| Trade receivables | 290 | €25,000 | - | -€25,000 | |
| Other amounts receivable | 291 | - | €25,000 | +€25,000 | |
| Amounts receivable within one year | 40/41 | €13,332 | €11,014 | -€2,318 | -17.4% |
| Trade receivables | 40 | €11,557 | €9,439 | -€2,118 | -18.3% |
| Other amounts receivable | 41 | €1,775 | €1,575 | -€200 | -11.3% |
| Cash at bank and in hand | 54/58 | €30 | €64 | +€34 | +112% |
| Deferred charges and accrued income | 490/1 | €1,415 | €719 | -€696 | -49.2% |
| Total equity and liabilities | 10/49 | €43,012 | €36,796 | -€6,216 | -14.5% |
| Equity | 10/15 | €32,188 | €25,560 | -€6,628 | -20.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €35,160 | €35,160 | = | 0.0% |
| Distributable reserves | 133 | €35,160 | €35,160 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€9,172 | -€15,800 | -€6,628 | -72.3% |
| Amounts payable | 17/49 | €10,824 | €11,236 | +€412 | +3.8% |
| Amounts payable within one year | 42/48 | €10,824 | €11,236 | +€412 | +3.8% |
| Trade debts | 44 | €6,465 | €273 | -€6,192 | -95.8% |
| Suppliers | 440/4 | €6,465 | €273 | -€6,192 | -95.8% |
| Other amounts payable | 47/48 | €4,359 | €10,963 | +€6,604 | +152% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,213 | €3,235 | -€978 | -23.2% |
| Gross operating margin | 9900 | -€11,728 | -€3,274 | +€8,454 | +72.1% |
| Operating profit (loss) | 9901 | -€15,941 | -€6,509 | +€9,432 | +59.2% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €393 | €119 | -€274 | -69.7% |
| Recurring financial charges | 65 | €393 | €119 | -€274 | -69.7% |
| Profit (loss) for the period before taxes | 9903 | -€16,334 | -€6,628 | +€9,706 | +59.4% |
| Profit (loss) for the period | 9904 | -€16,334 | -€6,628 | +€9,706 | +59.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€16,334 | -€6,628 | +€9,706 | +59.4% |
Source: filed annual accounts (NBB), financial years ended 30 November 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.