MATHULU: 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.
MATHULU
Largest movements
- Cash -€11,229
down €11,229 (-99.6%), from €11,277 to €49
mainly Net result for the year (-€13,342) and Other debts (-€8,748)
- Intangible fixed assets -€8,000
down €8,000 (-50.0%), from €15,991 to €7,991
- Tangible fixed assets -€654
down €654 (-29.1%), from €2,243 to €1,589
- Receivables within one year +€508
up €508 (+254%), from €200 to €708
of which Other amounts receivable: +€508
- Deferred charges and accrued income -€454
down €454 (-100%), from €454 to €0
- Profit (loss) carried forward -€13,342
down €13,342 (-38.2%), from -€34,949 to -€48,290
- Other debts -€8,748
down €8,748 (-15.4%), from €56,922 to €48,174
- Trade debts +€2,477
up €2,477 (+490%), from €505 to €2,982
- Gross operating margin -€19,264
down €19,264, from €15,088 to -€4,175
- Taxes -€158
down €158 (-100%), from €158 to €0
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.
Derived cash bridge
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 | €30,165 | €10,337 | -€19,828 | -65.7% |
| Fixed assets | 21/28 | €18,233 | €9,580 | -€8,654 | -47.5% |
| Intangible fixed assets | 21 | €15,991 | €7,991 | -€8,000 | -50.0% |
| Tangible fixed assets | 22/27 | €2,243 | €1,589 | -€654 | -29.1% |
| Furniture and vehicles | 24 | €2,243 | €1,589 | -€654 | -29.1% |
| Current assets | 29/58 | €11,931 | €757 | -€11,174 | -93.7% |
| Amounts receivable within one year | 40/41 | €200 | €708 | +€508 | +254% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €200 | €708 | +€508 | +254% |
| Cash at bank and in hand | 54/58 | €11,277 | €49 | -€11,229 | -99.6% |
| Deferred charges and accrued income | 490/1 | €454 | €0 | -€454 | -100% |
| Total equity and liabilities | 10/49 | €30,165 | €10,337 | -€19,828 | -65.7% |
| Equity | 10/15 | -€27,636 | -€40,978 | -€13,342 | -48.3% |
| Contributions | 10/11 | €2,400 | €2,400 | = | 0.0% |
| Reserves | 13 | €4,913 | €4,913 | = | 0.0% |
| Distributable reserves | 133 | €4,913 | €4,913 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€34,949 | -€48,290 | -€13,342 | -38.2% |
| Amounts payable | 17/49 | €57,800 | €51,314 | -€6,486 | -11.2% |
| Amounts payable within one year | 42/48 | €57,800 | €51,314 | -€6,486 | -11.2% |
| Trade debts | 44 | €505 | €2,982 | +€2,477 | +490% |
| Suppliers | 440/4 | €505 | €2,982 | +€2,477 | +490% |
| Taxes, remuneration and social security | 45 | €373 | €158 | -€215 | -57.6% |
| Taxes | 450/3 | €373 | €158 | -€215 | -57.6% |
| Other amounts payable | 47/48 | €56,922 | €48,174 | -€8,748 | -15.4% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,654 | €8,654 | = | 0.0% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €15,088 | -€4,175 | -€19,264 | |
| Operating profit (loss) | 9901 | €6,047 | -€13,229 | -€19,276 | |
| Financial income | 75/76B | €10 | €0 | -€10 | -100% |
| Recurring financial income | 75 | €10 | €0 | -€10 | -100% |
| Financial charges | 65/66B | €104 | €113 | +€9 | +8.5% |
| Recurring financial charges | 65 | €104 | €113 | +€9 | +8.5% |
| Profit (loss) for the period before taxes | 9903 | €5,953 | -€13,342 | -€19,295 | |
| Income taxes | 67/77 | €158 | €0 | -€158 | -100% |
| Profit (loss) for the period | 9904 | €5,795 | -€13,342 | -€19,137 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,795 | -€13,342 | -€19,137 |
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 14 October 2026 via checked.be.