MATHIMO: 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.
MATHIMO
Largest movements
- Cash +€110,464
up €110,464 (+208.9%), from €52,886 to €163,350
mainly Current investments (+€100,000) and Net result for the year (+€87,193)
- Current investments -€100,000
down €100,000 (-100.0%), from €100,000 to €0
- Tangible fixed assets +€70,736
up €70,736 (+19.8%), from €357,860 to €428,595
of which Land and buildings: +€70,736
- Profit (loss) carried forward +€88,897
up €88,897 (+113.8%), from €78,113 to €167,010
- Other debts -€33,379
down €33,379 (-51.5%), from €64,794 to €31,415
- Tax, wage and social debts +€26,159
up €26,159 (+1091.6%), from €2,396 to €28,555
- Taxes +€26,159
up €26,159 (+1091.6%), from €2,396 to €28,555
- Gross operating margin +€24,186
up €24,186 (+17.8%), from €135,662 to €159,848
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 | €511,751 | €592,916 | +€81,165 | +15.9% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €357,860 | €428,595 | +€70,736 | +19.8% |
| Tangible fixed assets | 22/27 | €357,860 | €428,595 | +€70,736 | +19.8% |
| Land and buildings | 22 | €357,860 | €428,595 | +€70,736 | +19.8% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Current assets | 29/58 | €153,891 | €164,320 | +€10,429 | +6.8% |
| Current investments | 50/53 | €100,000 | €0 | -€100,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €52,886 | €163,350 | +€110,464 | +208.9% |
| Deferred charges and accrued income | 490/1 | €1,005 | €970 | -€35 | -3.5% |
| Total equity and liabilities | 10/49 | €511,751 | €592,916 | +€81,165 | +15.9% |
| Equity | 10/15 | €414,919 | €502,111 | +€87,193 | +21.0% |
| Contributions | 10/11 | €275,000 | €275,000 | = | 0.0% |
| Reserves | 13 | €61,806 | €60,101 | -€1,705 | -2.8% |
| Tax-exempt reserves | 132 | €61,806 | €60,101 | -€1,705 | -2.8% |
| Profit (loss) carried forward | 14 | €78,113 | €167,010 | +€88,897 | +113.8% |
| Provisions and deferred taxes | 16 | €20,602 | €20,034 | -€568 | -2.8% |
| Deferred taxes | 168 | €20,602 | €20,034 | -€568 | -2.8% |
| Amounts payable | 17/49 | €76,231 | €70,771 | -€5,460 | -7.2% |
| Amounts payable after more than one year | 17 | €8,682 | €8,682 | = | 0.0% |
| Other amounts payable | 178/9 | €8,682 | €8,682 | = | 0.0% |
| Amounts payable within one year | 42/48 | €67,548 | €62,088 | -€5,460 | -8.1% |
| Trade debts | 44 | €358 | €2,118 | +€1,760 | +491.6% |
| Suppliers | 440/4 | €358 | €2,118 | +€1,760 | +491.6% |
| Taxes, remuneration and social security | 45 | €2,396 | €28,555 | +€26,159 | +1091.6% |
| Taxes | 450/3 | €2,396 | €28,555 | +€26,159 | +1091.6% |
| Other amounts payable | 47/48 | €64,794 | €31,415 | -€33,379 | -51.5% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,699 | €33,815 | +€1,117 | +3.4% |
| Other operating charges | 640/8 | €12,300 | €12,283 | -€17 | -0.1% |
| Gross operating margin | 9900 | €135,662 | €159,848 | +€24,186 | +17.8% |
| Operating profit (loss) | 9901 | €90,663 | €113,749 | +€23,087 | +25.5% |
| Financial income | 75/76B | €520 | €1,430 | +€910 | +175.1% |
| Recurring financial income | 75 | €520 | €1,430 | +€910 | +175.1% |
| Financial charges | 65/66B | €27 | - | -€27 | |
| Recurring financial charges | 65 | €27 | - | -€27 | |
| Profit (loss) for the period before taxes | 9903 | €91,155 | €115,180 | +€24,024 | +26.4% |
| Transfer from deferred taxes | 780 | €0 | €568 | +€568 | |
| Transfer to deferred taxes | 680 | €20,602 | - | -€20,602 | |
| Income taxes | 67/77 | €2,396 | €28,555 | +€26,159 | +1091.6% |
| Profit (loss) for the period | 9904 | €68,157 | €87,193 | +€19,036 | +27.9% |
| Transfer from tax-exempt reserves | 789 | €0 | €1,705 | +€1,705 | |
| Transfer to tax-exempt reserves | 689 | €61,806 | - | -€61,806 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,351 | €88,897 | +€82,546 | +1299.6% |
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 11 October 2026 via checked.be.