MATHIEU TILMONT: 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 TILMONT
Largest movements
- Tangible fixed assets -€14,083
down €14,083 (-26.6%), from €53,037 to €38,954
of which Furniture and vehicles: -€13,138
- Cash -€7,066
down €7,066 (-21.6%), from €32,683 to €25,617
mainly Other debts (-€26,881) and Accrued charges and deferred income (-€505)
- Receivables after one year -€4,300
down €4,300 (-17.1%), from €25,100 to €20,800
- Other debts -€26,881
down €26,881 (-37.5%), from €71,600 to €44,720
- Gross operating margin -€12,107
down €12,107 (-44.6%), from €27,143 to €15,036
- Taxes -€2,221
down €2,221 (-65.6%), from €3,386 to €1,165
- Financial income +€2,023
new in 2025: €2,023
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 | €133,146 | €107,487 | -€25,659 | -19.3% |
| Fixed assets | 21/28 | €58,037 | €43,954 | -€14,083 | -24.3% |
| Tangible fixed assets | 22/27 | €53,037 | €38,954 | -€14,083 | -26.6% |
| Plant, machinery and equipment | 23 | €1,362 | €417 | -€945 | -69.4% |
| Furniture and vehicles | 24 | €51,676 | €38,537 | -€13,138 | -25.4% |
| Financial fixed assets | 28 | €5,000 | €5,000 | = | 0.0% |
| Current assets | 29/58 | €75,109 | €63,533 | -€11,576 | -15.4% |
| Amounts receivable after more than one year | 29 | €25,100 | €20,800 | -€4,300 | -17.1% |
| Other amounts receivable | 291 | €25,100 | €20,800 | -€4,300 | -17.1% |
| Amounts receivable within one year | 40/41 | €17,002 | €16,785 | -€217 | -1.3% |
| Trade receivables | 40 | €5,107 | €6,216 | +€1,110 | +21.7% |
| Other amounts receivable | 41 | €11,895 | €10,569 | -€1,326 | -11.1% |
| Cash at bank and in hand | 54/58 | €32,683 | €25,617 | -€7,066 | -21.6% |
| Deferred charges and accrued income | 490/1 | €324 | €331 | +€6 | +2.0% |
| Total equity and liabilities | 10/49 | €133,146 | €107,487 | -€25,659 | -19.3% |
| Equity | 10/15 | €60,696 | €61,686 | +€990 | +1.6% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €42,146 | €43,136 | +€990 | +2.3% |
| Distributable reserves | 133 | €42,146 | €43,136 | +€990 | +2.3% |
| Amounts payable | 17/49 | €72,450 | €45,801 | -€26,649 | -36.8% |
| Amounts payable within one year | 42/48 | €71,945 | €45,801 | -€26,144 | -36.3% |
| Trade debts | 44 | €51 | €980 | +€928 | +1804.7% |
| Suppliers | 440/4 | €51 | €980 | +€928 | +1804.7% |
| Taxes, remuneration and social security | 45 | €293 | €102 | -€192 | -65.3% |
| Taxes | 450/3 | €293 | €102 | -€192 | -65.3% |
| Other amounts payable | 47/48 | €71,600 | €44,720 | -€26,881 | -37.5% |
| Accrued charges and deferred income | 492/3 | €505 | €0 | -€505 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,083 | €14,083 | = | 0.0% |
| Other operating charges | 640/8 | €978 | €748 | -€230 | -23.5% |
| Gross operating margin | 9900 | €27,143 | €15,036 | -€12,107 | -44.6% |
| Operating profit (loss) | 9901 | €12,082 | €205 | -€11,877 | -98.3% |
| Financial income | 75/76B | - | €2,023 | +€2,023 | |
| Recurring financial income | 75 | - | €2,023 | +€2,023 | |
| Financial charges | 65/66B | €53 | €72 | +€20 | +37.6% |
| Recurring financial charges | 65 | €53 | €72 | +€20 | +37.6% |
| Profit (loss) for the period before taxes | 9903 | €12,029 | €2,155 | -€9,874 | -82.1% |
| Income taxes | 67/77 | €3,386 | €1,165 | -€2,221 | -65.6% |
| Profit (loss) for the period | 9904 | €8,643 | €990 | -€7,653 | -88.5% |
| Profit (loss) for the period to be appropriated | 9905 | €8,643 | €990 | -€7,653 | -88.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.