MATHINVEST: 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.
MATHINVEST
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Other debts +€3,197
up €3,197 (+2.5%), from €128,165 to €131,362
- Reserves -€2,657
down €2,657 (-3.5%), from €77,010 to €74,353
of which Distributable reserves: -€2,657
- Financial income -€875
down €875 (-100%), from €875 to €0
- Gross operating margin -€631
down €631 (-63.1%), from -€1,000 to -€1,632
- Other operating charges +€51
up €51 (+5.7%), from €886 to €937
- Financial charges -€38
down €38 (-30.0%), from €127 to €89
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 | €246,130 | €246,005 | -€125 | -0.1% |
| Fixed assets | 21/28 | €33,800 | €33,800 | = | 0.0% |
| Financial fixed assets | 28 | €33,800 | €33,800 | = | 0.0% |
| Current assets | 29/58 | €212,330 | €212,205 | -€125 | -0.1% |
| Stocks and contracts in progress | 3 | €112,000 | €112,000 | = | 0.0% |
| Stocks | 30/36 | €112,000 | €112,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €100,121 | €99,363 | -€758 | -0.8% |
| Other amounts receivable | 41 | €100,121 | €99,363 | -€758 | -0.8% |
| Cash at bank and in hand | 54/58 | €209 | €842 | +€634 | +303% |
| Total equity and liabilities | 10/49 | €246,130 | €246,005 | -€125 | -0.1% |
| Equity | 10/15 | €83,210 | €80,553 | -€2,657 | -3.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €77,010 | €74,353 | -€2,657 | -3.5% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €77,010 | €74,353 | -€2,657 | -3.5% |
| Amounts payable | 17/49 | €162,920 | €165,453 | +€2,532 | +1.6% |
| Amounts payable after more than one year | 17 | €33,800 | €33,800 | = | 0.0% |
| Financial debts | 170/4 | €33,800 | €33,800 | = | 0.0% |
| Amounts payable within one year | 42/48 | €129,120 | €131,362 | +€2,242 | +1.7% |
| Trade debts | 44 | €955 | €0 | -€955 | -100% |
| Suppliers | 440/4 | €955 | €0 | -€955 | -100% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €128,165 | €131,362 | +€3,197 | +2.5% |
| Accrued charges and deferred income | 492/3 | €0 | €291 | +€291 | |
| Other operating charges | 640/8 | €886 | €937 | +€51 | +5.7% |
| Gross operating margin | 9900 | -€1,000 | -€1,632 | -€631 | -63.1% |
| Operating profit (loss) | 9901 | -€1,887 | -€2,568 | -€682 | -36.1% |
| Financial income | 75/76B | €875 | €0 | -€875 | -100% |
| Recurring financial income | 75 | €875 | €0 | -€875 | -100% |
| Financial charges | 65/66B | €127 | €89 | -€38 | -30.0% |
| Recurring financial charges | 65 | €127 | €89 | -€38 | -30.0% |
| Profit (loss) for the period before taxes | 9903 | -€1,138 | -€2,657 | -€1,519 | -133% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€1,138 | -€2,657 | -€1,519 | -133% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,138 | -€2,657 | -€1,519 | -133% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.