Mathieu Luypaert: 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 Luypaert
Largest movements
- Cash +€9,400
up €9,400 (+8.5%), from €110,135 to €119,535
mainly Net result for the year (+€95,185) and Receivables within one year (+€6,286)
- Receivables within one year -€6,286
down €6,286 (-65.8%), from €9,557 to €3,271
of which Trade receivables: -€7,467
- Tangible fixed assets -€2,217
down €2,217 (-50.3%), from €4,406 to €2,190
- Other debts +€2,122
up €2,122 (+2.3%), from €94,249 to €96,371
- Gross operating margin +€1,892
up €1,892 (+1.5%), from €124,189 to €126,081
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 | €127,342 | €128,340 | +€998 | +0.8% |
| Fixed assets | 21/28 | €5,806 | €3,590 | -€2,217 | -38.2% |
| Tangible fixed assets | 22/27 | €4,406 | €2,190 | -€2,217 | -50.3% |
| Furniture and vehicles | 24 | €4,406 | €2,190 | -€2,217 | -50.3% |
| Financial fixed assets | 28 | €1,400 | €1,400 | = | 0.0% |
| Current assets | 29/58 | €121,536 | €124,750 | +€3,214 | +2.6% |
| Amounts receivable within one year | 40/41 | €9,557 | €3,271 | -€6,286 | -65.8% |
| Trade receivables | 40 | €9,557 | €2,090 | -€7,467 | -78.1% |
| Other amounts receivable | 41 | - | €1,181 | +€1,181 | |
| Cash at bank and in hand | 54/58 | €110,135 | €119,535 | +€9,400 | +8.5% |
| Deferred charges and accrued income | 490/1 | €1,843 | €1,944 | +€101 | +5.5% |
| Total equity and liabilities | 10/49 | €127,342 | €128,340 | +€998 | +0.8% |
| Equity | 10/15 | €20,405 | €20,405 | = | 0.0% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €1,855 | €1,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €106,937 | €107,935 | +€998 | +0.9% |
| Amounts payable within one year | 42/48 | €106,937 | €107,935 | +€998 | +0.9% |
| Trade debts | 44 | €407 | €114 | -€293 | -71.9% |
| Suppliers | 440/4 | €407 | €114 | -€293 | -71.9% |
| Taxes, remuneration and social security | 45 | €12,281 | €11,450 | -€831 | -6.8% |
| Taxes | 450/3 | €12,281 | €11,450 | -€831 | -6.8% |
| Other amounts payable | 47/48 | €94,249 | €96,371 | +€2,122 | +2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,034 | €2,217 | -€817 | -26.9% |
| Other operating charges | 640/8 | €1,011 | €1,210 | +€199 | +19.7% |
| Gross operating margin | 9900 | €124,189 | €126,081 | +€1,892 | +1.5% |
| Operating profit (loss) | 9901 | €120,144 | €122,654 | +€2,510 | +2.1% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €104 | €100 | -€3 | -3.0% |
| Recurring financial charges | 65 | €104 | €100 | -€3 | -3.0% |
| Profit (loss) for the period before taxes | 9903 | €120,041 | €122,554 | +€2,513 | +2.1% |
| Income taxes | 67/77 | €26,296 | €27,369 | +€1,073 | +4.1% |
| Profit (loss) for the period | 9904 | €93,745 | €95,185 | +€1,440 | +1.5% |
| Profit (loss) for the period to be appropriated | 9905 | €93,745 | €95,185 | +€1,440 | +1.5% |
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 3 October 2026 via checked.be.