MATHMACOIFF: 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.
MATHMACOIFF
Largest movements
- Intangible fixed assets +€37,992
new in 2025: €37,992
- Cash +€24,504
up €24,504 (+121.1%), from €20,238 to €44,742
mainly Debts after one year (+€23,012) and Tax, wage and social debts (+€18,861)
- Receivables within one year +€5,569
up €5,569 (+378.6%), from €1,471 to €7,040
- Tangible fixed assets -€1,101
down €1,101 (-11.7%), from €9,449 to €8,348
of which Furniture and vehicles: -€1,033
- Debts after one year +€23,012
new in 2025: €23,012
- Tax, wage and social debts +€18,861
up €18,861 (+172.4%), from €10,940 to €29,801
of which Remuneration and social security: +€13,010
- Current portion of long-term debt +€13,190
new in 2025: €13,190
- Reserves +€11,065
up €11,065 (+69.4%), from €15,935 to €27,000
- Trade debts -€1,090
down €1,090 (-28.2%), from €3,863 to €2,773
- Gross operating margin +€76,887
up €76,887 (+137.2%), from €56,027 to €132,914
- Staff costs +€75,881
up €75,881 (+225.5%), from €33,657 to €109,538
- Depreciation +€4,314
up €4,314 (+484.7%), from €890 to €5,204
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 | €33,773 | €99,453 | +€65,680 | +194.5% |
| Fixed assets | 21/28 | €9,840 | €46,340 | +€36,500 | +370.9% |
| Intangible fixed assets | 21 | - | €37,992 | +€37,992 | |
| Tangible fixed assets | 22/27 | €9,449 | €8,348 | -€1,101 | -11.7% |
| Plant, machinery and equipment | 23 | €7,903 | €7,835 | -€68 | -0.9% |
| Furniture and vehicles | 24 | €1,546 | €513 | -€1,033 | -66.8% |
| Financial fixed assets | 28 | €391 | - | -€391 | |
| Current assets | 29/58 | €23,933 | €53,113 | +€29,180 | +121.9% |
| Stocks and contracts in progress | 3 | €1,268 | €813 | -€455 | -35.9% |
| Stocks | 30/36 | €1,268 | €813 | -€455 | -35.9% |
| Amounts receivable within one year | 40/41 | €1,471 | €7,040 | +€5,569 | +378.6% |
| Other amounts receivable | 41 | €1,471 | €7,040 | +€5,569 | +378.6% |
| Cash at bank and in hand | 54/58 | €20,238 | €44,742 | +€24,504 | +121.1% |
| Deferred charges and accrued income | 490/1 | €956 | €518 | -€438 | -45.8% |
| Total equity and liabilities | 10/49 | €33,773 | €99,453 | +€65,680 | +194.5% |
| Equity | 10/15 | €18,935 | €30,677 | +€11,742 | +62.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €15,935 | €27,000 | +€11,065 | +69.4% |
| Distributable reserves | 133 | €15,935 | €27,000 | +€11,065 | +69.4% |
| Profit (loss) carried forward | 14 | - | €677 | +€677 | |
| Amounts payable | 17/49 | €14,838 | €68,776 | +€53,938 | +363.5% |
| Amounts payable after more than one year | 17 | - | €23,012 | +€23,012 | |
| Financial debts | 170/4 | - | €23,012 | +€23,012 | |
| Amounts payable within one year | 42/48 | €14,838 | €45,764 | +€30,926 | +208.4% |
| Current portion of amounts payable after more than one year | 42 | - | €13,190 | +€13,190 | |
| Trade debts | 44 | €3,863 | €2,773 | -€1,090 | -28.2% |
| Suppliers | 440/4 | €3,863 | €2,773 | -€1,090 | -28.2% |
| Taxes, remuneration and social security | 45 | €10,940 | €29,801 | +€18,861 | +172.4% |
| Taxes | 450/3 | €9,016 | €14,867 | +€5,851 | +64.9% |
| Remuneration and social security | 454/9 | €1,924 | €14,934 | +€13,010 | +676.2% |
| Other amounts payable | 47/48 | €35 | - | -€35 | |
| Remuneration, social security and pensions | 62 | €33,657 | €109,538 | +€75,881 | +225.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €890 | €5,204 | +€4,314 | +484.7% |
| Other operating charges | 640/8 | €844 | €1,431 | +€587 | +69.5% |
| Gross operating margin | 9900 | €56,027 | €132,914 | +€76,887 | +137.2% |
| Operating profit (loss) | 9901 | €20,636 | €16,741 | -€3,895 | -18.9% |
| Financial income | 75/76B | €1 | €76 | +€75 | +7500.0% |
| Recurring financial income | 75 | €1 | €76 | +€75 | +7500.0% |
| Financial charges | 65/66B | €100 | €1,336 | +€1,236 | +1236.0% |
| Recurring financial charges | 65 | €100 | €1,336 | +€1,236 | +1236.0% |
| Profit (loss) for the period before taxes | 9903 | €20,537 | €15,481 | -€5,056 | -24.6% |
| Income taxes | 67/77 | €4,602 | €3,739 | -€863 | -18.8% |
| Profit (loss) for the period | 9904 | €15,935 | €11,742 | -€4,193 | -26.3% |
| Profit (loss) for the period to be appropriated | 9905 | €15,935 | €11,742 | -€4,193 | -26.3% |
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 30 September 2026 via checked.be.