MATHIEU SERVICES: 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 SERVICES
Largest movements
- Cash +€312,301
up €312,301 (+43473.6%), from €718 to €313,020
mainly Debts after one year (+€1.9m) and Net result for the year (+€1.1m)
- Receivables within one year +€74,112
up €74,112 (+116.5%), from €63,607 to €137,719
of which Trade receivables: +€82,330
- Other debts -€3.1m
down €3.1m (-87.9%), from €3.5m to €426,284
- Debts after one year +€1.9m
up €1.9m (+61.6%), from €3.1m to €5.0m
of which Financial debts: +€1.8m
- Reserves +€1.1m
up €1.1m (+3717.4%), from €28,546 to €1.1m
- Current portion of long-term debt +€585,207
up €585,207 (+1593.9%), from €36,716 to €621,923
- Financial income +€1.2m
new in 2025: €1.2m
- Financial charges +€88,116
up €88,116 (+2202.0%), from €4,002 to €92,117
- Gross operating margin +€64,832
up €64,832 (+26.2%), from €247,164 to €311,996
- Staff costs +€47,693
up €47,693 (+22.6%), from €210,833 to €258,526
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 | €6,893,025 | €7,281,092 | +€388,067 | +5.6% |
| Formation expenses | 20 | €177 | €0 | -€177 | -100.0% |
| Fixed assets | 21/28 | €6,731,269 | €6,710,336 | -€20,933 | -0.3% |
| Intangible fixed assets | 21 | €0 | €4,745 | +€4,745 | |
| Tangible fixed assets | 22/27 | €225,367 | €199,689 | -€25,678 | -11.4% |
| Plant, machinery and equipment | 23 | €132,541 | €149,522 | +€16,980 | +12.8% |
| Furniture and vehicles | 24 | €66,556 | €28,030 | -€38,526 | -57.9% |
| Other tangible fixed assets | 26 | €26,270 | €22,137 | -€4,133 | -15.7% |
| Financial fixed assets | 28 | €6,505,902 | €6,505,902 | = | 0.0% |
| Current assets | 29/58 | €161,579 | €570,756 | +€409,177 | +253.2% |
| Stocks and contracts in progress | 3 | €88,239 | €107,891 | +€19,652 | +22.3% |
| Stocks | 30/36 | €88,239 | €107,891 | +€19,652 | +22.3% |
| Amounts receivable within one year | 40/41 | €63,607 | €137,719 | +€74,112 | +116.5% |
| Trade receivables | 40 | €30,864 | €113,195 | +€82,330 | +266.7% |
| Other amounts receivable | 41 | €32,743 | €24,524 | -€8,219 | -25.1% |
| Cash at bank and in hand | 54/58 | €718 | €313,020 | +€312,301 | +43473.6% |
| Deferred charges and accrued income | 490/1 | €9,014 | €12,126 | +€3,112 | +34.5% |
| Total equity and liabilities | 10/49 | €6,893,025 | €7,281,092 | +€388,067 | +5.6% |
| Equity | 10/15 | €68,546 | €1,129,701 | +€1.1m | +1548.1% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €28,546 | €1,089,701 | +€1.1m | +3717.4% |
| Distributable reserves | 133 | €28,546 | €1,089,701 | +€1.1m | +3717.4% |
| Amounts payable | 17/49 | €6,824,479 | €6,151,391 | -€673,088 | -9.9% |
| Amounts payable after more than one year | 17 | €3,096,916 | €5,004,019 | +€1.9m | +61.6% |
| Financial debts | 170/4 | €96,916 | €1,904,019 | +€1.8m | +1864.6% |
| Other amounts payable | 178/9 | €3,000,000 | €3,100,000 | +€100,000 | +3.3% |
| Amounts payable within one year | 42/48 | €3,727,354 | €1,147,149 | -€2.6m | -69.2% |
| Current portion of amounts payable after more than one year | 42 | €36,716 | €621,923 | +€585,207 | +1593.9% |
| Trade debts | 44 | €114,216 | €57,235 | -€56,981 | -49.9% |
| Suppliers | 440/4 | €114,216 | €57,235 | -€56,981 | -49.9% |
| Taxes, remuneration and social security | 45 | €56,423 | €41,707 | -€14,715 | -26.1% |
| Taxes | 450/3 | €20,911 | €11,737 | -€9,174 | -43.9% |
| Remuneration and social security | 454/9 | €35,512 | €29,970 | -€5,542 | -15.6% |
| Other amounts payable | 47/48 | €3,520,000 | €426,284 | -€3.1m | -87.9% |
| Accrued charges and deferred income | 492/3 | €209 | €222 | +€13 | +6.2% |
| Remuneration, social security and pensions | 62 | €210,833 | €258,526 | +€47,693 | +22.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,315 | €47,851 | +€1,537 | +3.3% |
| Other operating charges | 640/8 | €3,210 | €5,186 | +€1,975 | +61.5% |
| Gross operating margin | 9900 | €247,164 | €311,996 | +€64,832 | +26.2% |
| Operating profit (loss) | 9901 | -€13,195 | €432 | +€13,627 | |
| Financial income | 75/76B | - | €1,153,336 | +€1.2m | |
| Recurring financial income | 75 | - | €1,153,336 | +€1.2m | |
| Financial charges | 65/66B | €4,002 | €92,117 | +€88,116 | +2202.0% |
| Recurring financial charges | 65 | €4,002 | €92,117 | +€88,116 | +2202.0% |
| Profit (loss) for the period before taxes | 9903 | -€17,196 | €1,061,651 | +€1.1m | |
| Income taxes | 67/77 | €498 | €496 | -€2 | -0.5% |
| Profit (loss) for the period | 9904 | -€17,695 | €1,061,155 | +€1.1m | |
| Profit (loss) for the period to be appropriated | 9905 | -€17,695 | €1,061,155 | +€1.1m |
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 8 October 2026 via checked.be.