MATHY - SALMON: 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.
MATHY - SALMON
Largest movements
- Cash +€33,393
up €33,393 (+338%), from €9,894 to €43,287
mainly Net result for the year (+€32,548) and Tax, wage and social debts (+€13,597)
- Receivables within one year +€21,332
new in 2025: €21,332
of which Trade receivables: +€15,187
- Tangible fixed assets -€5,260
down €5,260 (-16.9%), from €31,170 to €25,910
of which Furniture and vehicles: -€10,059
- Deferred charges and accrued income -€1,416
down €1,416 (-27.9%), from €5,081 to €3,665
- Reserves +€30,000
new in 2025: €30,000
- Tax, wage and social debts +€13,597
up €13,597 (+110%), from €12,377 to €25,974
of which Remuneration and social security: +€7,226
- Trade debts +€9,128
up €9,128 (+2,802%), from €326 to €9,454
- Debts after one year -€7,853
down €7,853 (-43.0%), from €18,264 to €10,411
- Profit (loss) carried forward +€2,548
up €2,548 (+58.0%), from -€4,394 to -€1,846
- Gross operating margin +€102,418
up €102,418 (+190%), from €54,011 to €156,430
- Staff costs +€50,585
up €50,585 (+173%), from €29,156 to €79,741
- Taxes +€14,842
up €14,842 (+629%), from €2,358 to €17,200
- Other operating charges +€8,759
up €8,759 (+138%), from €6,359 to €15,118
- Financial charges +€2,704
up €2,704 (+145%), from €1,859 to €4,563
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 | €46,145 | €94,194 | +€48,049 | +104% |
| Fixed assets | 21/28 | €31,170 | €25,910 | -€5,260 | -16.9% |
| Tangible fixed assets | 22/27 | €31,170 | €25,910 | -€5,260 | -16.9% |
| Plant, machinery and equipment | 23 | €11,335 | €9,601 | -€1,734 | -15.3% |
| Furniture and vehicles | 24 | €14,565 | €4,506 | -€10,059 | -69.1% |
| Other tangible fixed assets | 26 | €5,270 | €11,803 | +€6,533 | +124% |
| Current assets | 29/58 | €14,975 | €68,284 | +€53,309 | +356% |
| Amounts receivable within one year | 40/41 | - | €21,332 | +€21,332 | |
| Trade receivables | 40 | - | €15,187 | +€15,187 | |
| Other amounts receivable | 41 | - | €6,146 | +€6,146 | |
| Cash at bank and in hand | 54/58 | €9,894 | €43,287 | +€33,393 | +338% |
| Deferred charges and accrued income | 490/1 | €5,081 | €3,665 | -€1,416 | -27.9% |
| Total equity and liabilities | 10/49 | €46,145 | €94,194 | +€48,049 | +104% |
| Equity | 10/15 | €5,606 | €38,154 | +€32,548 | +581% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | - | €30,000 | +€30,000 | |
| Distributable reserves | 133 | - | €30,000 | +€30,000 | |
| Profit (loss) carried forward | 14 | -€4,394 | -€1,846 | +€2,548 | +58.0% |
| Amounts payable | 17/49 | €40,538 | €56,040 | +€15,501 | +38.2% |
| Amounts payable after more than one year | 17 | €18,264 | €10,411 | -€7,853 | -43.0% |
| Financial debts | 170/4 | €18,264 | €10,411 | -€7,853 | -43.0% |
| Amounts payable within one year | 42/48 | €22,274 | €45,628 | +€23,354 | +105% |
| Current portion of amounts payable after more than one year | 42 | €7,950 | €10,106 | +€2,156 | +27.1% |
| Trade debts | 44 | €326 | €9,454 | +€9,128 | +2,802% |
| Suppliers | 440/4 | €326 | €9,454 | +€9,128 | +2,802% |
| Taxes, remuneration and social security | 45 | €12,377 | €25,974 | +€13,597 | +110% |
| Taxes | 450/3 | €8,224 | €14,595 | +€6,371 | +77.5% |
| Remuneration and social security | 454/9 | €4,153 | €11,379 | +€7,226 | +174% |
| Other amounts payable | 47/48 | €1,621 | €95 | -€1,526 | -94.2% |
| Remuneration, social security and pensions | 62 | €29,156 | €79,741 | +€50,585 | +173% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,236 | €7,950 | -€1,285 | -13.9% |
| Other operating charges | 640/8 | €6,359 | €15,118 | +€8,759 | +138% |
| Gross operating margin | 9900 | €54,011 | €156,430 | +€102,418 | +190% |
| Operating profit (loss) | 9901 | €9,261 | €53,621 | +€44,360 | +479% |
| Financial income | 75/76B | €50 | €691 | +€641 | +1,289% |
| Recurring financial income | 75 | €50 | €691 | +€641 | +1,289% |
| Financial charges | 65/66B | €1,859 | €4,563 | +€2,704 | +145% |
| Recurring financial charges | 65 | €1,859 | €4,563 | +€2,704 | +145% |
| Profit (loss) for the period before taxes | 9903 | €7,452 | €49,748 | +€42,296 | +568% |
| Income taxes | 67/77 | €2,358 | €17,200 | +€14,842 | +629% |
| Profit (loss) for the period | 9904 | €5,094 | €32,548 | +€27,454 | +539% |
| Profit (loss) for the period to be appropriated | 9905 | €5,094 | €32,548 | +€27,454 | +539% |
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 31 October 2026 via checked.be.