MATHIS PROJECT: 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.
MATHIS PROJECT
Largest movements
- Tangible fixed assets +€171,055
up €171,055 (+82.3%), from €207,954 to €379,009
of which Leasing and similar rights: +€144,250
- Cash +€36,682
up €36,682 (+8.1%), from €450,795 to €487,477
mainly Depreciation (+€105,113) and Current portion of long-term debt (+€100,915)
- Current portion of long-term debt +€100,915
up €100,915 (+212.5%), from €47,487 to €148,402
- Reserves +€70,000
up €70,000 (+46.7%), from €150,000 to €220,000
- Debts after one year +€35,572
up €35,572 (+44.2%), from €80,410 to €115,982
- Gross operating margin +€137,354
up €137,354 (+15.7%), from €875,672 to €1.0m
- Staff costs +€135,196
up €135,196 (+31.6%), from €427,458 to €562,654
- Other operating charges +€59,054
up €59,054 (+45.5%), from €129,820 to €188,874
- Depreciation +€39,238
up €39,238 (+59.6%), from €65,875 to €105,113
- Taxes -€27,761
down €27,761 (-28.9%), from €96,005 to €68,243
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 | €1,202,181 | €1,410,381 | +€208,201 | +17.3% |
| Fixed assets | 21/28 | €271,954 | €443,144 | +€171,190 | +62.9% |
| Tangible fixed assets | 22/27 | €207,954 | €379,009 | +€171,055 | +82.3% |
| Plant, machinery and equipment | 23 | €6,609 | €4,359 | -€2,250 | -34.0% |
| Furniture and vehicles | 24 | €46,038 | €75,615 | +€29,577 | +64.2% |
| Leasing and similar rights | 25 | €151,253 | €295,503 | +€144,250 | +95.4% |
| Other tangible fixed assets | 26 | €4,055 | €3,532 | -€522 | -12.9% |
| Financial fixed assets | 28 | €64,000 | €64,135 | +€135 | +0.2% |
| Current assets | 29/58 | €930,227 | €967,237 | +€37,010 | +4.0% |
| Amounts receivable within one year | 40/41 | €473,129 | €475,854 | +€2,725 | +0.6% |
| Trade receivables | 40 | €367,292 | €384,827 | +€17,535 | +4.8% |
| Other amounts receivable | 41 | €105,837 | €91,027 | -€14,809 | -14.0% |
| Cash at bank and in hand | 54/58 | €450,795 | €487,477 | +€36,682 | +8.1% |
| Deferred charges and accrued income | 490/1 | €6,303 | €3,906 | -€2,397 | -38.0% |
| Total equity and liabilities | 10/49 | €1,202,181 | €1,410,381 | +€208,201 | +17.3% |
| Equity | 10/15 | €836,606 | €910,084 | +€73,478 | +8.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €150,000 | €220,000 | +€70,000 | +46.7% |
| Distributable reserves | 133 | €150,000 | €220,000 | +€70,000 | +46.7% |
| Profit (loss) carried forward | 14 | €666,606 | €670,084 | +€3,478 | +0.5% |
| Amounts payable | 17/49 | €365,575 | €500,297 | +€134,723 | +36.9% |
| Amounts payable after more than one year | 17 | €80,410 | €115,982 | +€35,572 | +44.2% |
| Financial debts | 170/4 | €80,410 | €115,982 | +€35,572 | +44.2% |
| Amounts payable within one year | 42/48 | €285,164 | €384,316 | +€99,151 | +34.8% |
| Current portion of amounts payable after more than one year | 42 | €47,487 | €148,402 | +€100,915 | +212.5% |
| Trade debts | 44 | €46,908 | €35,018 | -€11,890 | -25.3% |
| Suppliers | 440/4 | €46,908 | €35,018 | -€11,890 | -25.3% |
| Taxes, remuneration and social security | 45 | €190,770 | €200,817 | +€10,047 | +5.3% |
| Taxes | 450/3 | €131,121 | €143,534 | +€12,414 | +9.5% |
| Remuneration and social security | 454/9 | €59,649 | €57,283 | -€2,366 | -4.0% |
| Other amounts payable | 47/48 | - | €78 | +€78 | |
| Non-recurring operating income | 76A | €4,372 | €15,000 | +€10,628 | +243.1% |
| Remuneration, social security and pensions | 62 | €427,458 | €562,654 | +€135,196 | +31.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €65,875 | €105,113 | +€39,238 | +59.6% |
| Other operating charges | 640/8 | €129,820 | €188,874 | +€59,054 | +45.5% |
| Gross operating margin | 9900 | €875,672 | €1,013,026 | +€137,354 | +15.7% |
| Operating profit (loss) | 9901 | €252,519 | €156,385 | -€96,134 | -38.1% |
| Financial income | 75/76B | - | €3 | +€3 | |
| Recurring financial income | 75 | - | €3 | +€3 | |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €5,116 | €12,997 | +€7,881 | +154.1% |
| Recurring financial charges | 65 | €5,116 | €11,944 | +€6,828 | +133.5% |
| Non-recurring financial charges | 66B | - | €1,053 | +€1,053 | |
| Profit (loss) for the period before taxes | 9903 | €247,404 | €143,391 | -€104,012 | -42.0% |
| Income taxes | 67/77 | €96,005 | €68,243 | -€27,761 | -28.9% |
| Profit (loss) for the period | 9904 | €151,399 | €75,148 | -€76,251 | -50.4% |
| Profit (loss) for the period to be appropriated | 9905 | €151,399 | €75,148 | -€76,251 | -50.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.