Mathieu PONCELET: 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 PONCELET
Largest movements
- Cash -€103,613
down €103,613 (-61.9%), from €167,384 to €63,771
mainly Contributions, distributions and other (-€154,988) and Other debts (-€5,987)
- Reserves -€99,755
down €99,755 (-98.2%), from €101,615 to €1,860
of which Distributable reserves: -€99,755
- Other debts -€5,987
down €5,987 (-9.8%), from €61,326 to €55,340
- Tax, wage and social debts +€2,800
new in 2025: €2,800
- Gross operating margin +€17,228
up €17,228 (+29.8%), from €57,814 to €75,042
- Taxes +€3,743
up €3,743 (+35.1%), from €10,670 to €14,413
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 | €182,886 | €79,700 | -€103,185 | -56.4% |
| Fixed assets | 21/28 | €10,347 | €10,523 | +€176 | +1.7% |
| Tangible fixed assets | 22/27 | €10,247 | €10,423 | +€176 | +1.7% |
| Plant, machinery and equipment | 23 | €8,145 | €9,385 | +€1,240 | +15.2% |
| Furniture and vehicles | 24 | €2,103 | €1,038 | -€1,064 | -50.6% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €172,538 | €69,177 | -€103,361 | -59.9% |
| Amounts receivable within one year | 40/41 | €5,154 | €5,148 | -€6 | -0.1% |
| Other amounts receivable | 41 | €5,154 | €5,148 | -€6 | -0.1% |
| Cash at bank and in hand | 54/58 | €167,384 | €63,771 | -€103,613 | -61.9% |
| Deferred charges and accrued income | 490/1 | - | €258 | +€258 | |
| Total equity and liabilities | 10/49 | €182,886 | €79,700 | -€103,185 | -56.4% |
| Equity | 10/15 | €120,215 | €20,460 | -€99,755 | -83.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €101,615 | €1,860 | -€99,755 | -98.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €99,755 | - | -€99,755 | |
| Amounts payable | 17/49 | €62,670 | €59,240 | -€3,430 | -5.5% |
| Amounts payable within one year | 42/48 | €62,670 | €59,240 | -€3,430 | -5.5% |
| Trade debts | 44 | €1,344 | €1,101 | -€243 | -18.1% |
| Suppliers | 440/4 | €1,344 | €1,101 | -€243 | -18.1% |
| Taxes, remuneration and social security | 45 | - | €2,800 | +€2,800 | |
| Taxes | 450/3 | - | €2,800 | +€2,800 | |
| Other amounts payable | 47/48 | €61,326 | €55,340 | -€5,987 | -9.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,647 | €3,972 | -€675 | -14.5% |
| Other operating charges | 640/8 | €16 | €17 | +€2 | +12.5% |
| Gross operating margin | 9900 | €57,814 | €75,042 | +€17,228 | +29.8% |
| Operating profit (loss) | 9901 | €53,151 | €71,052 | +€17,901 | +33.7% |
| Financial charges | 65/66B | €1,457 | €1,407 | -€50 | -3.4% |
| Recurring financial charges | 65 | €1,457 | €1,407 | -€50 | -3.4% |
| Profit (loss) for the period before taxes | 9903 | €51,694 | €69,646 | +€17,951 | +34.7% |
| Income taxes | 67/77 | €10,670 | €14,413 | +€3,743 | +35.1% |
| Profit (loss) for the period | 9904 | €41,024 | €55,233 | +€14,208 | +34.6% |
| Profit (loss) for the period to be appropriated | 9905 | €41,024 | €55,233 | +€14,208 | +34.6% |
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 6 October 2026 via checked.be.