Mathieu Paulus: 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 Paulus
Largest movements
- Cash +€10,063
up €10,063 (+43.7%), from €23,052 to €33,115
mainly Net result for the year (+€21,930) and Other debts (+€2,903)
- Receivables within one year +€1,657
up €1,657 (+14.2%), from €11,638 to €13,295
of which Trade receivables: +€1,948
- Tangible fixed assets +€590
new in 2025: €590
of which Furniture and vehicles: +€344
- Profit (loss) carried forward +€8,430
new in 2025: €8,430
- Other debts +€2,903
up €2,903 (+14.4%), from €20,211 to €23,115
- Tax, wage and social debts +€921
up €921 (+8.8%), from €10,492 to €11,413
of which Taxes: +€903
- Gross operating margin +€9,364
up €9,364 (+46.4%), from €20,163 to €29,527
- Taxes +€1,714
up €1,714 (+36.3%), from €4,723 to €6,438
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 | €34,690 | €47,000 | +€12,310 | +35.5% |
| Fixed assets | 21/28 | - | €590 | +€590 | |
| Tangible fixed assets | 22/27 | - | €590 | +€590 | |
| Plant, machinery and equipment | 23 | - | €246 | +€246 | |
| Furniture and vehicles | 24 | - | €344 | +€344 | |
| Current assets | 29/58 | €34,690 | €46,410 | +€11,719 | +33.8% |
| Amounts receivable within one year | 40/41 | €11,638 | €13,295 | +€1,657 | +14.2% |
| Trade receivables | 40 | €11,052 | €13,000 | +€1,948 | +17.6% |
| Other amounts receivable | 41 | €587 | €295 | -€291 | -49.6% |
| Cash at bank and in hand | 54/58 | €23,052 | €33,115 | +€10,063 | +43.7% |
| Total equity and liabilities | 10/49 | €34,690 | €47,000 | +€12,310 | +35.5% |
| Equity | 10/15 | €3,000 | €11,430 | +€8,430 | +281.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €8,430 | +€8,430 | |
| Amounts payable | 17/49 | €31,690 | €35,570 | +€3,880 | +12.2% |
| Amounts payable within one year | 42/48 | €31,156 | €34,768 | +€3,612 | +11.6% |
| Trade debts | 44 | €454 | €241 | -€212 | -46.8% |
| Suppliers | 440/4 | €454 | €241 | -€212 | -46.8% |
| Taxes, remuneration and social security | 45 | €10,492 | €11,413 | +€921 | +8.8% |
| Taxes | 450/3 | €7,890 | €8,793 | +€903 | +11.4% |
| Remuneration and social security | 454/9 | €2,602 | €2,620 | +€18 | +0.7% |
| Other amounts payable | 47/48 | €20,211 | €23,115 | +€2,903 | +14.4% |
| Accrued charges and deferred income | 492/3 | €534 | €801 | +€268 | +50.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €213 | €135 | -€77 | -36.3% |
| Other operating charges | 640/8 | €577 | €762 | +€185 | +32.0% |
| Gross operating margin | 9900 | €20,163 | €29,527 | +€9,364 | +46.4% |
| Operating profit (loss) | 9901 | €19,374 | €28,630 | +€9,256 | +47.8% |
| Financial income | 75/76B | €112 | - | -€112 | |
| Recurring financial income | 75 | €112 | - | -€112 | |
| Financial charges | 65/66B | €252 | €262 | +€10 | +4.0% |
| Recurring financial charges | 65 | €252 | €262 | +€10 | +4.0% |
| Profit (loss) for the period before taxes | 9903 | €19,234 | €28,368 | +€9,134 | +47.5% |
| Income taxes | 67/77 | €4,723 | €6,438 | +€1,714 | +36.3% |
| Profit (loss) for the period | 9904 | €14,510 | €21,930 | +€7,420 | +51.1% |
| Profit (loss) for the period to be appropriated | 9905 | €14,510 | €21,930 | +€7,420 | +51.1% |
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 1 October 2026 via checked.be.