MATHIX: 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.
MATHIX
Largest movements
- Receivables within one year -€23,208
down €23,208 (-32.4%), from €71,550 to €48,342
of which Trade receivables: -€21,175
- Tangible fixed assets +€10,088
up €10,088 (+28.1%), from €35,920 to €46,008
of which Other tangible fixed assets: +€11,630
- Cash +€10,054
up €10,054 (+149.9%), from €6,709 to €16,763
mainly Other debts (+€35,674) and Receivables within one year (+€23,208)
- Reserves -€41,517
down €41,517 (-66.3%), from €62,625 to €21,108
- Other debts +€35,674
up €35,674 (+228.5%), from €15,611 to €51,285
- Gross operating margin +€7,870
up €7,870 (+25.2%), from €31,200 to €39,069
- Depreciation +€1,739
up €1,739 (+17.9%), from €9,701 to €11,441
- Taxes +€1,033
up €1,033 (+20.7%), from €5,000 to €6,033
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 | €115,324 | €111,236 | -€4,088 | -3.5% |
| Fixed assets | 21/28 | €35,920 | €46,008 | +€10,088 | +28.1% |
| Tangible fixed assets | 22/27 | €35,920 | €46,008 | +€10,088 | +28.1% |
| Land and buildings | 22 | €1,050 | - | -€1,050 | |
| Plant, machinery and equipment | 23 | €465 | €899 | +€434 | +93.3% |
| Furniture and vehicles | 24 | €34,405 | €33,479 | -€926 | -2.7% |
| Other tangible fixed assets | 26 | - | €11,630 | +€11,630 | |
| Current assets | 29/58 | €79,404 | €65,228 | -€14,176 | -17.9% |
| Amounts receivable within one year | 40/41 | €71,550 | €48,342 | -€23,208 | -32.4% |
| Trade receivables | 40 | €66,550 | €45,375 | -€21,175 | -31.8% |
| Other amounts receivable | 41 | €5,000 | €2,967 | -€2,033 | -40.7% |
| Cash at bank and in hand | 54/58 | €6,709 | €16,763 | +€10,054 | +149.9% |
| Deferred charges and accrued income | 490/1 | €1,145 | €123 | -€1,022 | -89.3% |
| Total equity and liabilities | 10/49 | €115,324 | €111,236 | -€4,088 | -3.5% |
| Equity | 10/15 | €81,225 | €39,708 | -€41,517 | -51.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €62,625 | €21,108 | -€41,517 | -66.3% |
| Distributable reserves | 133 | €62,625 | €21,108 | -€41,517 | -66.3% |
| Amounts payable | 17/49 | €34,099 | €71,528 | +€37,429 | +109.8% |
| Amounts payable within one year | 42/48 | €34,099 | €71,528 | +€37,429 | +109.8% |
| Trade debts | 44 | €8,247 | €8,978 | +€731 | +8.9% |
| Suppliers | 440/4 | €8,247 | €8,978 | +€731 | +8.9% |
| Taxes, remuneration and social security | 45 | €10,241 | €11,265 | +€1,024 | +10.0% |
| Taxes | 450/3 | €7,643 | €6,065 | -€1,578 | -20.6% |
| Remuneration and social security | 454/9 | €2,598 | €5,200 | +€2,602 | +100.1% |
| Other amounts payable | 47/48 | €15,611 | €51,285 | +€35,674 | +228.5% |
| Non-recurring operating income | 76A | €1,000 | - | -€1,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,701 | €11,441 | +€1,739 | +17.9% |
| Other operating charges | 640/8 | €514 | €299 | -€215 | -41.8% |
| Gross operating margin | 9900 | €31,200 | €39,069 | +€7,870 | +25.2% |
| Operating profit (loss) | 9901 | €20,985 | €27,330 | +€6,345 | +30.2% |
| Financial income | 75/76B | €0 | €4 | +€4 | +19600.0% |
| Recurring financial income | 75 | €0 | €4 | +€4 | +19600.0% |
| Financial charges | 65/66B | €79 | €193 | +€114 | +143.6% |
| Recurring financial charges | 65 | €79 | €193 | +€114 | +143.6% |
| Profit (loss) for the period before taxes | 9903 | €20,905 | €27,141 | +€6,235 | +29.8% |
| Income taxes | 67/77 | €5,000 | €6,033 | +€1,033 | +20.7% |
| Profit (loss) for the period | 9904 | €15,905 | €21,108 | +€5,203 | +32.7% |
| Profit (loss) for the period to be appropriated | 9905 | €15,905 | €21,108 | +€5,203 | +32.7% |
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 10 October 2026 via checked.be.