MATHIMAU: 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.
MATHIMAU
Largest movements
- Receivables within one year +€6,521
up €6,521 (+79.2%), from €8,238 to €14,759
of which Trade receivables: +€6,678
- Cash -€2,143
down €2,143 (-91.5%), from €2,342 to €199
mainly Receivables within one year (-€6,521) and Trade debts (-€81)
- Tangible fixed assets -€305
no longer reported in 2025 (was €305)
- Profit (loss) carried forward +€3,694
up €3,694 (+83.7%), from -€4,412 to -€718
- Tax, wage and social debts +€259
new in 2025: €259
- Gross operating margin +€5,696
up €5,696, from -€1,669 to €4,026
- Other operating charges -€387
no longer reported in 2025 (was €387)
- Depreciation -€94
down €94 (-23.5%), from €399 to €305
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.
Derived cash bridge
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 | €20,016 | €24,089 | +€4,072 | +20.3% |
| Fixed assets | 21/28 | €305 | - | -€305 | |
| Tangible fixed assets | 22/27 | €305 | - | -€305 | |
| Furniture and vehicles | 24 | €305 | - | -€305 | |
| Current assets | 29/58 | €19,711 | €24,089 | +€4,378 | +22.2% |
| Stocks and contracts in progress | 3 | €9,131 | €9,131 | = | 0.0% |
| Stocks | 30/36 | €9,131 | €9,131 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €8,238 | €14,759 | +€6,521 | +79.2% |
| Trade receivables | 40 | €8,081 | €14,759 | +€6,678 | +82.6% |
| Other amounts receivable | 41 | €158 | - | -€158 | |
| Cash at bank and in hand | 54/58 | €2,342 | €199 | -€2,143 | -91.5% |
| Total equity and liabilities | 10/49 | €20,016 | €24,089 | +€4,072 | +20.3% |
| Equity | 10/15 | €1,788 | €5,482 | +€3,694 | +207% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,412 | -€718 | +€3,694 | +83.7% |
| Amounts payable | 17/49 | €18,229 | €18,607 | +€378 | +2.1% |
| Amounts payable within one year | 42/48 | €18,229 | €18,607 | +€378 | +2.1% |
| Trade debts | 44 | €999 | €918 | -€81 | -8.1% |
| Suppliers | 440/4 | €999 | €918 | -€81 | -8.1% |
| Taxes, remuneration and social security | 45 | - | €259 | +€259 | |
| Taxes | 450/3 | - | €259 | +€259 | |
| Other amounts payable | 47/48 | €17,230 | €17,430 | +€200 | +1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €399 | €305 | -€94 | -23.5% |
| Other operating charges | 640/8 | €387 | - | -€387 | |
| Gross operating margin | 9900 | -€1,669 | €4,026 | +€5,696 | |
| Operating profit (loss) | 9901 | -€2,456 | €3,721 | +€6,177 | |
| Financial income | 75/76B | - | €18 | +€18 | |
| Recurring financial income | 75 | - | €18 | +€18 | |
| Financial charges | 65/66B | €45 | €45 | = | 0.0% |
| Recurring financial charges | 65 | €45 | €45 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | -€2,501 | €3,694 | +€6,195 | |
| Profit (loss) for the period | 9904 | -€2,501 | €3,694 | +€6,195 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,501 | €3,694 | +€6,195 |
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 13 October 2026 via checked.be.