MATINEE: 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.
MATINEE
Largest movements
- Cash +€95,783
up €95,783 (+1222.4%), from €7,835 to €103,619
mainly Debts after one year (+€162,573) and Net result for the year (+€100,307)
- Stocks and contracts +€24,639
up €24,639, from €0 to €24,639
- Receivables within one year +€13,792
up €13,792, from €0 to €13,792
of which Trade receivables: +€13,792
- Tangible fixed assets -€4,305
down €4,305 (-16.3%), from €26,404 to €22,098
of which Plant, machinery and equipment: -€6,781
- Debts after one year +€162,573
new in 2025: €162,573
- Other debts -€127,724
down €127,724 (-88.8%), from €143,762 to €16,038
- Profit (loss) carried forward +€100,307
up €100,307 (+33.3%), from -€301,326 to -€201,019
- Short-term financial debts -€39,520
no longer reported in 2025 (was €39,520)
- Tax, wage and social debts +€18,627
up €18,627 (+125.4%), from €14,856 to €33,483
of which Taxes: +€16,043
- Gross operating margin +€193,849
up €193,849 (+185.4%), from €104,561 to €298,409
- Staff costs -€16,162
down €16,162 (-8.0%), from €203,208 to €187,046
- Financial income -€16,020
down €16,020 (-100.0%), from €16,021 to €1
of which Non-recurring financial income: -€15,539
- Financial charges -€7,578
down €7,578 (-77.2%), from €9,811 to €2,233
- Other operating charges -€5,375
down €5,375 (-88.2%), from €6,094 to €718
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 | €39,361 | €169,270 | +€129,909 | +330.0% |
| Fixed assets | 21/28 | €31,525 | €27,220 | -€4,305 | -13.7% |
| Tangible fixed assets | 22/27 | €26,404 | €22,098 | -€4,305 | -16.3% |
| Plant, machinery and equipment | 23 | €22,414 | €15,633 | -€6,781 | -30.3% |
| Furniture and vehicles | 24 | - | €3,790 | +€3,790 | |
| Other tangible fixed assets | 26 | €3,989 | €2,675 | -€1,314 | -32.9% |
| Financial fixed assets | 28 | €5,122 | €5,122 | = | 0.0% |
| Current assets | 29/58 | €7,835 | €142,050 | +€134,214 | +1712.9% |
| Stocks and contracts in progress | 3 | €0 | €24,639 | +€24,639 | |
| Stocks | 30/36 | €0 | €24,639 | +€24,639 | |
| Amounts receivable within one year | 40/41 | €0 | €13,792 | +€13,792 | |
| Trade receivables | 40 | - | €13,792 | +€13,792 | |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €7,835 | €103,619 | +€95,783 | +1222.4% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €39,361 | €169,270 | +€129,909 | +330.0% |
| Equity | 10/15 | -€188,895 | -€88,588 | +€100,307 | +53.1% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €50,431 | €50,431 | = | 0.0% |
| Non-distributable reserves | 130/1 | €499 | €499 | = | 0.0% |
| Legal reserve | 130 | €499 | €499 | = | 0.0% |
| Tax-exempt reserves | 132 | €15,386 | €15,386 | = | 0.0% |
| Distributable reserves | 133 | €34,546 | €34,546 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€301,326 | -€201,019 | +€100,307 | +33.3% |
| Amounts payable | 17/49 | €228,256 | €257,857 | +€29,602 | +13.0% |
| Amounts payable after more than one year | 17 | - | €162,573 | +€162,573 | |
| Other amounts payable | 178/9 | - | €162,573 | +€162,573 | |
| Amounts payable within one year | 42/48 | €228,256 | €95,285 | -€132,971 | -58.3% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €39,520 | - | -€39,520 | |
| Credit institutions | 430/8 | €39,520 | - | -€39,520 | |
| Trade debts | 44 | €30,118 | €45,764 | +€15,646 | +51.9% |
| Suppliers | 440/4 | €30,118 | €45,764 | +€15,646 | +51.9% |
| Taxes, remuneration and social security | 45 | €14,856 | €33,483 | +€18,627 | +125.4% |
| Taxes | 450/3 | €3,630 | €19,673 | +€16,043 | +442.0% |
| Remuneration and social security | 454/9 | €11,227 | €13,810 | +€2,584 | +23.0% |
| Other amounts payable | 47/48 | €143,762 | €16,038 | -€127,724 | -88.8% |
| Remuneration, social security and pensions | 62 | €203,208 | €187,046 | -€16,162 | -8.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,480 | €6,961 | -€519 | -6.9% |
| Other operating charges | 640/8 | €6,094 | €718 | -€5,375 | -88.2% |
| Non-recurring operating charges | 66A | - | €1,144 | +€1,144 | |
| Gross operating margin | 9900 | €104,561 | €298,409 | +€193,849 | +185.4% |
| Operating profit (loss) | 9901 | -€112,221 | €102,540 | +€214,761 | |
| Financial income | 75/76B | €16,021 | €1 | -€16,020 | -100.0% |
| Recurring financial income | 75 | €482 | €1 | -€481 | -99.8% |
| Non-recurring financial income | 76B | €15,539 | - | -€15,539 | |
| Financial charges | 65/66B | €9,811 | €2,233 | -€7,578 | -77.2% |
| Recurring financial charges | 65 | €9,811 | €2,233 | -€7,578 | -77.2% |
| Profit (loss) for the period before taxes | 9903 | -€106,011 | €100,307 | +€206,318 | |
| Profit (loss) for the period | 9904 | -€106,011 | €100,307 | +€206,318 | |
| Profit (loss) for the period to be appropriated | 9905 | -€106,011 | €100,307 | +€206,318 |
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 3 October 2026 via checked.be.