MATHIJS G.A.R.: 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.
MATHIJS G.A.R.
Largest movements
- Receivables within one year -€56,681
down €56,681 (-24.5%), from €231,176 to €174,495
of which Trade receivables: -€54,360
- Tangible fixed assets -€53,788
down €53,788 (-13.3%), from €403,861 to €350,074
- Cash -€10,585
down €10,585 (-58.8%), from €18,013 to €7,429
mainly Net result for the year (-€140,629) and Debts after one year (-€48,835)
- Reserves -€110,730
down €110,730 (-68.6%), from €161,336 to €50,606
of which Distributable reserves: -€110,730
- Other debts +€70,058
up €70,058 (+56.2%), from €124,659 to €194,717
- Debts after one year -€48,835
down €48,835 (-17.3%), from €281,638 to €232,803
- Profit (loss) carried forward -€29,899
new in 2024: -€29,899
- Trade debts -€16,206
down €16,206 (-53.3%), from €30,419 to €14,213
- Gross operating margin -€63,665
down €63,665, from €9,872 to -€53,793
- Depreciation +€20,870
up €20,870 (+57.4%), from €36,373 to €57,242
- Other operating charges -€9,801
down €9,801 (-43.1%), from €22,756 to €12,955
- Financial charges +€1,930
up €1,930 (+16.6%), from €11,630 to €13,560
- Staff costs -€1,720
down €1,720 (-34.2%), from €5,027 to €3,307
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.
Derived cash bridge
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 | €660,982 | €535,137 | -€125,845 | -19.0% |
| Fixed assets | 21/28 | €404,671 | €350,884 | -€53,788 | -13.3% |
| Tangible fixed assets | 22/27 | €403,861 | €350,074 | -€53,788 | -13.3% |
| Land and buildings | 22 | €273,062 | €247,946 | -€25,116 | -9.2% |
| Plant, machinery and equipment | 23 | €7,998 | €8,593 | +€595 | +7.4% |
| Furniture and vehicles | 24 | €20,303 | €12,876 | -€7,427 | -36.6% |
| Leasing and similar rights | 25 | €102,498 | €80,658 | -€21,840 | -21.3% |
| Other tangible fixed assets | 26 | €0 | €0 | = | |
| Financial fixed assets | 28 | €810 | €810 | = | 0.0% |
| Current assets | 29/58 | €256,311 | €184,253 | -€72,058 | -28.1% |
| Amounts receivable within one year | 40/41 | €231,176 | €174,495 | -€56,681 | -24.5% |
| Trade receivables | 40 | €224,958 | €170,597 | -€54,360 | -24.2% |
| Other amounts receivable | 41 | €6,218 | €3,898 | -€2,320 | -37.3% |
| Current investments | 50/53 | - | €1,018 | +€1,018 | |
| Cash at bank and in hand | 54/58 | €18,013 | €7,429 | -€10,585 | -58.8% |
| Deferred charges and accrued income | 490/1 | €7,122 | €1,311 | -€5,810 | -81.6% |
| Total equity and liabilities | 10/49 | €660,982 | €535,137 | -€125,845 | -19.0% |
| Equity | 10/15 | €179,928 | €39,299 | -€140,629 | -78.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €161,336 | €50,606 | -€110,730 | -68.6% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €37,500 | €37,500 | = | 0.0% |
| Distributable reserves | 133 | €121,977 | €11,247 | -€110,730 | -90.8% |
| Profit (loss) carried forward | 14 | - | -€29,899 | -€29,899 | |
| Amounts payable | 17/49 | €481,053 | €495,837 | +€14,784 | +3.1% |
| Amounts payable after more than one year | 17 | €281,638 | €232,803 | -€48,835 | -17.3% |
| Financial debts | 170/4 | €281,638 | €232,803 | -€48,835 | -17.3% |
| Amounts payable within one year | 42/48 | €199,416 | €263,034 | +€63,619 | +31.9% |
| Current portion of amounts payable after more than one year | 42 | €36,898 | €47,571 | +€10,673 | +28.9% |
| Trade debts | 44 | €30,419 | €14,213 | -€16,206 | -53.3% |
| Suppliers | 440/4 | €30,419 | €14,213 | -€16,206 | -53.3% |
| Advances received on contracts in progress | 46 | - | €1,877 | +€1,877 | |
| Taxes, remuneration and social security | 45 | €7,440 | €4,657 | -€2,783 | -37.4% |
| Taxes | 450/3 | €212 | €2,312 | +€2,101 | +992% |
| Remuneration and social security | 454/9 | €7,228 | €2,344 | -€4,883 | -67.6% |
| Other amounts payable | 47/48 | €124,659 | €194,717 | +€70,058 | +56.2% |
| Non-recurring operating income | 76A | - | €12,679 | +€12,679 | |
| Remuneration, social security and pensions | 62 | €5,027 | €3,307 | -€1,720 | -34.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,373 | €57,242 | +€20,870 | +57.4% |
| Other operating charges | 640/8 | €22,756 | €12,955 | -€9,801 | -43.1% |
| Gross operating margin | 9900 | €9,872 | -€53,793 | -€63,665 | |
| Operating profit (loss) | 9901 | -€54,283 | -€127,297 | -€73,014 | -135% |
| Financial income | 75/76B | €33 | €228 | +€195 | +593% |
| Recurring financial income | 75 | €33 | €228 | +€195 | +593% |
| Financial charges | 65/66B | €11,630 | €13,560 | +€1,930 | +16.6% |
| Recurring financial charges | 65 | €11,630 | €13,560 | +€1,930 | +16.6% |
| Profit (loss) for the period before taxes | 9903 | -€65,880 | -€140,629 | -€74,749 | -113% |
| Profit (loss) for the period | 9904 | -€65,880 | -€140,629 | -€74,749 | -113% |
| Profit (loss) for the period to be appropriated | 9905 | -€65,880 | -€140,629 | -€74,749 | -113% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.