MATHOT MICHELINE: 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.
What changed
MATHOT MICHELINE
NACE 81.210, General cleaning of buildings
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€13,640
2024 · €4,191-€17,831
Equity
€178,506
2024 · €192,146-€13,640
Cash
€6,415
2024 · €11,504-€5,089
Balance sheet total
€1.6m
2024 · €1.6m-€86,364
Largest movements
Assets
- Tangible fixed assets -€89,939
down €89,939 (-7.1%), from €1.3m to €1.2m
of which Land and buildings: -€53,381
Equity and liabilities
- Debts after one year -€103,183
down €103,183 (-14.1%), from €732,950 to €629,767
Income statement
- Gross operating margin +€53,998
up €53,998 (+14.2%), from €378,962 to €432,960
- Staff costs +€38,517
up €38,517 (+19.2%), from €201,038 to €239,554
- Depreciation +€20,094
up €20,094 (+18.9%), from €106,383 to €126,478
- Taxes +€5,825
up €5,825 (+58.6%), from €9,937 to €15,761
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.
Result 2024
€4,191
Gross operating margin
+€53,998
Staff costs
-€38,517
Depreciation
-€20,094
Other operating charges
+€1,095
Other operating items
-€8,172
Financial income
-€749
Financial charges
+€433
Taxes
-€5,825
Result 2025
-€13,640
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.
From operations
+€125,589
Investment
-€36,538
Financing
-€94,140
Cash 2024
€11,504
From operations (derived)
+€125,589
Net result for the year
-€13,640
Depreciation
+€126,478
Receivables within one year
-€1,983
Deferred charges and accrued income
-€6,681
Trade debts
-€6,464
Tax, wage and social debts
+€11,867
Advances received
+€4,991
Other debts
+€11,273
Accrued charges and deferred income
-€251
Investment (derived)
-€36,538
Investment in fixed assets (net)
-€36,538
Financing
-€94,140
Debts after one year
-€103,183
Current portion of long-term debt
+€3,079
Short-term financial debts
+€5,964
Cash 2025
€6,415
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,647,882 | €1,561,518 | -€86,364 | -5.2% |
| Fixed assets | 21/28 | €1,277,223 | €1,187,284 | -€89,939 | -7.0% |
| Tangible fixed assets | 22/27 | €1,272,223 | €1,182,284 | -€89,939 | -7.1% |
| Land and buildings | 22 | €1,131,029 | €1,077,648 | -€53,381 | -4.7% |
| Plant, machinery and equipment | 23 | €58,694 | €46,525 | -€12,169 | -20.7% |
| Furniture and vehicles | 24 | €82,500 | €58,111 | -€24,389 | -29.6% |
| Financial fixed assets | 28 | €5,000 | €5,000 | = | 0.0% |
| Current assets | 29/58 | €370,659 | €374,234 | +€3,575 | +1.0% |
| Amounts receivable within one year | 40/41 | €359,155 | €361,138 | +€1,983 | +0.6% |
| Trade receivables | 40 | €356,884 | €360,680 | +€3,796 | +1.1% |
| Other amounts receivable | 41 | €2,271 | €458 | -€1,813 | -79.8% |
| Cash at bank and in hand | 54/58 | €11,504 | €6,415 | -€5,089 | -44.2% |
| Deferred charges and accrued income | 490/1 | - | €6,681 | +€6,681 | |
| Total equity and liabilities | 10/49 | €1,647,882 | €1,561,518 | -€86,364 | -5.2% |
| Equity | 10/15 | €192,146 | €178,506 | -€13,640 | -7.1% |
| Contributions | 10/11 | €13,000 | €13,000 | = | 0.0% |
| Reserves | 13 | €179,146 | €165,506 | -€13,640 | -7.6% |
| Distributable reserves | 133 | €179,146 | €165,506 | -€13,640 | -7.6% |
| Provisions and deferred taxes | 16 | €26,676 | €26,676 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €26,676 | €26,676 | = | 0.0% |
| Environmental obligations | 163 | €26,676 | €26,676 | = | 0.0% |
| Amounts payable | 17/49 | €1,429,060 | €1,356,336 | -€72,724 | -5.1% |
| Amounts payable after more than one year | 17 | €732,950 | €629,767 | -€103,183 | -14.1% |
| Financial debts | 170/4 | €732,950 | €629,767 | -€103,183 | -14.1% |
| Amounts payable within one year | 42/48 | €693,700 | €724,410 | +€30,710 | +4.4% |
| Current portion of amounts payable after more than one year | 42 | €99,704 | €102,783 | +€3,079 | +3.1% |
| Financial debts | 43 | €21,772 | €27,736 | +€5,964 | +27.4% |
| Credit institutions | 430/8 | €21,772 | €27,736 | +€5,964 | +27.4% |
| Trade debts | 44 | €258,801 | €252,337 | -€6,464 | -2.5% |
| Suppliers | 440/4 | €258,801 | €252,337 | -€6,464 | -2.5% |
| Advances received on contracts in progress | 46 | €168,206 | €173,197 | +€4,991 | +3.0% |
| Taxes, remuneration and social security | 45 | €46,498 | €58,365 | +€11,867 | +25.5% |
| Taxes | 450/3 | €26,240 | €27,054 | +€814 | +3.1% |
| Remuneration and social security | 454/9 | €20,258 | €31,311 | +€11,053 | +54.6% |
| Other amounts payable | 47/48 | €98,719 | €109,992 | +€11,273 | +11.4% |
| Accrued charges and deferred income | 492/3 | €2,410 | €2,159 | -€251 | -10.4% |
| Non-recurring operating income | 76A | €64,206 | €0 | -€64,206 | -100.0% |
| Remuneration, social security and pensions | 62 | €201,038 | €239,554 | +€38,517 | +19.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €106,383 | €126,478 | +€20,094 | +18.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €11,641 | €10,546 | -€1,095 | -9.4% |
| Non-recurring operating charges | 66A | €0 | €8,172 | +€8,172 | |
| Gross operating margin | 9900 | €378,962 | €432,960 | +€53,998 | +14.2% |
| Operating profit (loss) | 9901 | €59,901 | €48,210 | -€11,691 | -19.5% |
| Financial income | 75/76B | €752 | €3 | -€749 | -99.6% |
| Recurring financial income | 75 | €752 | €3 | -€749 | -99.6% |
| Financial charges | 65/66B | €46,526 | €46,092 | -€433 | -0.9% |
| Recurring financial charges | 65 | €46,526 | €46,092 | -€433 | -0.9% |
| Profit (loss) for the period before taxes | 9903 | €14,128 | €2,121 | -€12,006 | -85.0% |
| Income taxes | 67/77 | €9,937 | €15,761 | +€5,825 | +58.6% |
| Profit (loss) for the period | 9904 | €4,191 | -€13,640 | -€17,831 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,191 | -€13,640 | -€17,831 |
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 1 October 2026 via checked.be.