MATRIX: 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.
MATRIX
Largest movements
- Tangible fixed assets -€12,641
down €12,641 (-2.3%), from €543,360 to €530,719
- Other debts +€24,316
up €24,316 (+14.0%), from €173,079 to €197,394
- Debts after one year -€19,904
down €19,904 (-5.3%), from €374,022 to €354,118
- Profit (loss) carried forward -€18,887
down €18,887 (-26.6%), from -€70,974 to -€89,861
- Gross operating margin +€2,784
up €2,784 (+34.9%), from €7,972 to €10,756
- Other operating charges +€862
up €862 (+34.2%), from €2,517 to €3,379
- Financial charges -€308
down €308 (-2.2%), from €13,945 to €13,636
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 | €547,282 | €532,387 | -€14,895 | -2.7% |
| Fixed assets | 21/28 | €543,360 | €530,719 | -€12,641 | -2.3% |
| Tangible fixed assets | 22/27 | €543,360 | €530,719 | -€12,641 | -2.3% |
| Land and buildings | 22 | €543,360 | €530,719 | -€12,641 | -2.3% |
| Current assets | 29/58 | €3,922 | €1,668 | -€2,254 | -57.5% |
| Amounts receivable within one year | 40/41 | €3,023 | €902 | -€2,121 | -70.2% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €3,023 | €902 | -€2,121 | -70.2% |
| Cash at bank and in hand | 54/58 | €225 | €767 | +€542 | +241.4% |
| Deferred charges and accrued income | 490/1 | €675 | €0 | -€675 | -100.0% |
| Total equity and liabilities | 10/49 | €547,282 | €532,387 | -€14,895 | -2.7% |
| Equity | 10/15 | -€20,306 | -€39,193 | -€18,887 | -93.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €32,068 | €32,068 | = | 0.0% |
| Distributable reserves | 133 | €32,068 | €32,068 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€70,974 | -€89,861 | -€18,887 | -26.6% |
| Amounts payable | 17/49 | €567,587 | €571,580 | +€3,992 | +0.7% |
| Amounts payable after more than one year | 17 | €374,022 | €354,118 | -€19,904 | -5.3% |
| Financial debts | 170/4 | €374,022 | €354,118 | -€19,904 | -5.3% |
| Amounts payable within one year | 42/48 | €193,566 | €217,462 | +€23,896 | +12.3% |
| Current portion of amounts payable after more than one year | 42 | €19,477 | €19,904 | +€427 | +2.2% |
| Financial debts | 43 | €217 | €131 | -€87 | -40.0% |
| Credit institutions | 430/8 | €217 | €131 | -€87 | -40.0% |
| Trade debts | 44 | €792 | €33 | -€759 | -95.8% |
| Suppliers | 440/4 | €792 | €33 | -€759 | -95.8% |
| Other amounts payable | 47/48 | €173,079 | €197,394 | +€24,316 | +14.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,641 | €12,641 | = | 0.0% |
| Other operating charges | 640/8 | €2,517 | €3,379 | +€862 | +34.2% |
| Gross operating margin | 9900 | €7,972 | €10,756 | +€2,784 | +34.9% |
| Operating profit (loss) | 9901 | -€7,186 | -€5,263 | +€1,923 | +26.8% |
| Financial income | 75/76B | €84 | €12 | -€71 | -85.2% |
| Recurring financial income | 75 | €84 | €12 | -€71 | -85.2% |
| Financial charges | 65/66B | €13,945 | €13,636 | -€308 | -2.2% |
| Recurring financial charges | 65 | €13,945 | €13,636 | -€308 | -2.2% |
| Profit (loss) for the period before taxes | 9903 | -€21,047 | -€18,887 | +€2,160 | +10.3% |
| Profit (loss) for the period | 9904 | -€21,047 | -€18,887 | +€2,160 | +10.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€21,047 | -€18,887 | +€2,160 | +10.3% |
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.