MATHO: 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.
MATHO
Largest movements
- Tangible fixed assets +€209,419
up €209,419 (+41.7%), from €501,852 to €711,271
of which Land and buildings: +€208,978
- Cash +€179,242
up €179,242 (+509.9%), from €35,155 to €214,397
mainly Net result for the year (+€336,924) and Receivables within one year (+€175,549)
- Receivables within one year -€175,549
down €175,549 (-65.0%), from €270,007 to €94,458
of which Trade receivables: -€174,178
- Reserves +€336,924
up €336,924 (+29.3%), from €1.1m to €1.5m
- Debts after one year -€154,801
down €154,801 (-7.1%), from €2.2m to €2.0m
- Depreciation +€15,163
up €15,163 (+96.6%), from €15,700 to €30,863
- Taxes +€9,659
up €9,659 (+12.5%), from €77,330 to €86,989
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 | €3,749,915 | €3,963,062 | +€213,148 | +5.7% |
| Fixed assets | 21/28 | €3,443,072 | €3,652,491 | +€209,419 | +6.1% |
| Tangible fixed assets | 22/27 | €501,852 | €711,271 | +€209,419 | +41.7% |
| Land and buildings | 22 | €499,763 | €708,741 | +€208,978 | +41.8% |
| Plant, machinery and equipment | 23 | €2,088 | €555 | -€1,534 | -73.4% |
| Furniture and vehicles | 24 | - | €1,975 | +€1,975 | |
| Financial fixed assets | 28 | €2,941,220 | €2,941,220 | = | 0.0% |
| Current assets | 29/58 | €306,843 | €310,572 | +€3,729 | +1.2% |
| Amounts receivable within one year | 40/41 | €270,007 | €94,458 | -€175,549 | -65.0% |
| Trade receivables | 40 | €268,636 | €94,458 | -€174,178 | -64.8% |
| Other amounts receivable | 41 | €1,371 | - | -€1,371 | |
| Cash at bank and in hand | 54/58 | €35,155 | €214,397 | +€179,242 | +509.9% |
| Deferred charges and accrued income | 490/1 | €1,681 | €1,717 | +€36 | +2.2% |
| Total equity and liabilities | 10/49 | €3,749,915 | €3,963,062 | +€213,148 | +5.7% |
| Equity | 10/15 | €1,272,513 | €1,609,437 | +€336,924 | +26.5% |
| Contributions | 10/11 | €124,000 | €124,000 | = | 0.0% |
| Reserves | 13 | €1,148,513 | €1,485,437 | +€336,924 | +29.3% |
| Distributable reserves | 133 | €1,148,513 | €1,485,437 | +€336,924 | +29.3% |
| Amounts payable | 17/49 | €2,477,401 | €2,353,625 | -€123,776 | -5.0% |
| Amounts payable after more than one year | 17 | €2,167,215 | €2,012,414 | -€154,801 | -7.1% |
| Financial debts | 170/4 | €2,167,215 | €2,012,414 | -€154,801 | -7.1% |
| Amounts payable within one year | 42/48 | €280,509 | €313,424 | +€32,915 | +11.7% |
| Current portion of amounts payable after more than one year | 42 | €154,801 | €154,801 | +€0 | 0.0% |
| Trade debts | 44 | €4,620 | €40,407 | +€35,787 | +774.6% |
| Suppliers | 440/4 | €4,620 | €40,407 | +€35,787 | +774.6% |
| Taxes, remuneration and social security | 45 | €86,147 | €83,725 | -€2,422 | -2.8% |
| Taxes | 450/3 | €86,147 | €83,725 | -€2,422 | -2.8% |
| Other amounts payable | 47/48 | €34,941 | €34,490 | -€450 | -1.3% |
| Accrued charges and deferred income | 492/3 | €29,678 | €27,788 | -€1,890 | -6.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,700 | €30,863 | +€15,163 | +96.6% |
| Other operating charges | 640/8 | €3,617 | €3,813 | +€196 | +5.4% |
| Gross operating margin | 9900 | €291,357 | €294,069 | +€2,711 | +0.9% |
| Operating profit (loss) | 9901 | €272,040 | €259,392 | -€12,648 | -4.6% |
| Financial income | 75/76B | €200,725 | €199,062 | -€1,663 | -0.8% |
| Recurring financial income | 75 | €200,725 | €199,062 | -€1,663 | -0.8% |
| Financial charges | 65/66B | €35,967 | €34,541 | -€1,426 | -4.0% |
| Recurring financial charges | 65 | €35,967 | €34,541 | -€1,426 | -4.0% |
| Profit (loss) for the period before taxes | 9903 | €436,798 | €423,913 | -€12,884 | -2.9% |
| Income taxes | 67/77 | €77,330 | €86,989 | +€9,659 | +12.5% |
| Profit (loss) for the period | 9904 | €359,468 | €336,924 | -€22,544 | -6.3% |
| Profit (loss) for the period to be appropriated | 9905 | €359,468 | €336,924 | -€22,544 | -6.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.