Mathieu VAESSEN: 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 VAESSEN
Largest movements
- Receivables within one year -€54,413
down €54,413 (-36.1%), from €150,694 to €96,282
of which Trade receivables: -€46,383
- Cash +€29,743
up €29,743 (+10.3%), from €288,837 to €318,580
mainly Other debts (+€59,250) and Net result for the year (+€56,392)
- Other debts +€59,250
up €59,250 (+52.0%), from €113,936 to €173,186
- Reserves -€49,957
down €49,957 (-14.2%), from €351,260 to €301,302
of which Distributable reserves: -€49,957
- Tax, wage and social debts -€38,242
down €38,242 (-87.5%), from €43,704 to €5,462
- Debts after one year -€6,715
down €6,715 (-16.3%), from €41,183 to €34,468
- Gross operating margin -€37,473
down €37,473 (-27.1%), from €138,409 to €100,937
- Taxes -€13,967
down €13,967 (-37.0%), from €37,761 to €23,795
- Other operating charges +€5,662
up €5,662 (+677.2%), from €836 to €6,498
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €575,370 | €544,916 | -€30,454 | -5.3% |
| Fixed assets | 21/28 | €113,510 | €108,116 | -€5,393 | -4.8% |
| Tangible fixed assets | 22/27 | €113,510 | €108,116 | -€5,393 | -4.8% |
| Land and buildings | 22 | €104,407 | €95,370 | -€9,037 | -8.7% |
| Plant, machinery and equipment | 23 | €540 | €351 | -€189 | -35.0% |
| Furniture and vehicles | 24 | €6,630 | €3,999 | -€2,631 | -39.7% |
| Other tangible fixed assets | 26 | €1,933 | €8,396 | +€6,463 | +334.4% |
| Current assets | 29/58 | €461,861 | €436,800 | -€25,061 | -5.4% |
| Amounts receivable within one year | 40/41 | €150,694 | €96,282 | -€54,413 | -36.1% |
| Trade receivables | 40 | €142,094 | €95,711 | -€46,383 | -32.6% |
| Other amounts receivable | 41 | €8,601 | €571 | -€8,029 | -93.4% |
| Cash at bank and in hand | 54/58 | €288,837 | €318,580 | +€29,743 | +10.3% |
| Deferred charges and accrued income | 490/1 | €22,330 | €21,938 | -€391 | -1.8% |
| Total equity and liabilities | 10/49 | €575,370 | €544,916 | -€30,454 | -5.3% |
| Equity | 10/15 | €366,560 | €316,602 | -€49,957 | -13.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €351,260 | €301,302 | -€49,957 | -14.2% |
| 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 | €349,400 | €299,442 | -€49,957 | -14.3% |
| Profit (loss) carried forward | 14 | €2,900 | €2,900 | = | 0.0% |
| Amounts payable | 17/49 | €208,811 | €228,314 | +€19,503 | +9.3% |
| Amounts payable after more than one year | 17 | €41,183 | €34,468 | -€6,715 | -16.3% |
| Financial debts | 170/4 | €41,183 | €34,468 | -€6,715 | -16.3% |
| Amounts payable within one year | 42/48 | €167,628 | €193,845 | +€26,218 | +15.6% |
| Current portion of amounts payable after more than one year | 42 | €7,165 | €7,270 | +€105 | +1.5% |
| Trade debts | 44 | €2,822 | €7,928 | +€5,106 | +180.9% |
| Suppliers | 440/4 | €2,822 | €7,928 | +€5,106 | +180.9% |
| Taxes, remuneration and social security | 45 | €43,704 | €5,462 | -€38,242 | -87.5% |
| Taxes | 450/3 | €43,704 | €5,462 | -€38,242 | -87.5% |
| Other amounts payable | 47/48 | €113,936 | €173,186 | +€59,250 | +52.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,189 | €13,432 | +€243 | +1.8% |
| Other operating charges | 640/8 | €836 | €6,498 | +€5,662 | +677.2% |
| Gross operating margin | 9900 | €138,409 | €100,937 | -€37,473 | -27.1% |
| Operating profit (loss) | 9901 | €124,385 | €81,007 | -€43,378 | -34.9% |
| Financial income | 75/76B | - | €139 | +€139 | |
| Recurring financial income | 75 | - | €139 | +€139 | |
| Financial charges | 65/66B | €1,061 | €959 | -€103 | -9.7% |
| Recurring financial charges | 65 | €1,061 | €959 | -€103 | -9.7% |
| Profit (loss) for the period before taxes | 9903 | €123,323 | €80,187 | -€43,137 | -35.0% |
| Income taxes | 67/77 | €37,761 | €23,795 | -€13,967 | -37.0% |
| Profit (loss) for the period | 9904 | €85,562 | €56,392 | -€29,170 | -34.1% |
| Profit (loss) for the period to be appropriated | 9905 | €85,562 | €56,392 | -€29,170 | -34.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.