MATRIX: 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.
MATRIX
Largest movements
- Tangible fixed assets +€17,651
up €17,651 (+248%), from €7,117 to €24,768
- Receivables within one year -€13,515
down €13,515 (-45.2%), from €29,890 to €16,375
- Deferred charges and accrued income -€2,023
down €2,023 (-24.7%), from €8,187 to €6,165
- Cash +€1,176
up €1,176 (+31.6%), from €3,722 to €4,898
mainly Receivables within one year (+€13,515) and Net result for the year (+€2,167)
- Profit (loss) carried forward +€2,167
up €2,167 (+1.8%), from -€122,960 to -€120,793
- Advances received +€2,093
up €2,093 (+68.6%), from €3,050 to €5,143
- Gross operating margin -€8,964
down €8,964 (-54.5%), from €16,434 to €7,469
- Financial charges +€1,644
up €1,644 (+160%), from €1,025 to €2,669
of which Financial charges: +€1,641
- Depreciation -€527
down €527 (-25.4%), from €2,080 to €1,553
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 | €49,637 | €53,331 | +€3,694 | +7.4% |
| Fixed assets | 21/28 | €7,142 | €24,793 | +€17,651 | +247% |
| Tangible fixed assets | 22/27 | €7,117 | €24,768 | +€17,651 | +248% |
| Plant, machinery and equipment | 23 | €7,117 | €24,768 | +€17,651 | +248% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €42,494 | €28,537 | -€13,957 | -32.8% |
| Stocks and contracts in progress | 3 | €695 | €1,100 | +€405 | +58.3% |
| Stocks | 30/36 | €695 | €1,100 | +€405 | +58.3% |
| Amounts receivable within one year | 40/41 | €29,890 | €16,375 | -€13,515 | -45.2% |
| Trade receivables | 40 | €29,890 | €16,375 | -€13,515 | -45.2% |
| Cash at bank and in hand | 54/58 | €3,722 | €4,898 | +€1,176 | +31.6% |
| Deferred charges and accrued income | 490/1 | €8,187 | €6,165 | -€2,023 | -24.7% |
| Total equity and liabilities | 10/49 | €49,637 | €53,331 | +€3,694 | +7.4% |
| Equity | 10/15 | €19,540 | €21,707 | +€2,167 | +11.1% |
| Contributions | 10/11 | €142,500 | €142,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€122,960 | -€120,793 | +€2,167 | +1.8% |
| Amounts payable | 17/49 | €30,096 | €31,624 | +€1,527 | +5.1% |
| Amounts payable after more than one year | 17 | €14,623 | €14,090 | -€533 | -3.6% |
| Financial debts | 170/4 | €14,623 | €14,090 | -€533 | -3.6% |
| Amounts payable within one year | 42/48 | €15,473 | €17,534 | +€2,060 | +13.3% |
| Trade debts | 44 | €3,120 | €3,192 | +€72 | +2.3% |
| Suppliers | 440/4 | €3,120 | €3,192 | +€72 | +2.3% |
| Advances received on contracts in progress | 46 | €3,050 | €5,143 | +€2,093 | +68.6% |
| Taxes, remuneration and social security | 45 | €9,303 | €9,200 | -€104 | -1.1% |
| Taxes | 450/3 | €9,303 | €9,200 | -€104 | -1.1% |
| Non-recurring operating income | 76A | €8,728 | - | -€8,728 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,080 | €1,553 | -€527 | -25.4% |
| Other operating charges | 640/8 | €966 | €917 | -€49 | -5.1% |
| Gross operating margin | 9900 | €16,434 | €7,469 | -€8,964 | -54.5% |
| Operating profit (loss) | 9901 | €13,387 | €4,999 | -€8,388 | -62.7% |
| Financial charges | 65/66B | €1,025 | €2,669 | +€1,644 | +160% |
| Recurring financial charges | 65 | €1,025 | €2,666 | +€1,641 | +160% |
| Non-recurring financial charges | 66B | - | €4 | +€4 | |
| Profit (loss) for the period before taxes | 9903 | €12,362 | €2,329 | -€10,032 | -81.2% |
| Income taxes | 67/77 | €151 | €163 | +€12 | +8.0% |
| Profit (loss) for the period | 9904 | €12,211 | €2,167 | -€10,045 | -82.3% |
| Profit (loss) for the period to be appropriated | 9905 | €12,211 | €2,167 | -€10,045 | -82.3% |
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 23 October 2026 via checked.be.