MATS PALINCKX: what changed
MATS PALINCKX
Largest movements
- Cash +€40,287
up €40,287 (+234%), from €17,236 to €57,523
mainly Depreciation (+€28,332) and Net result for the year (+€21,666)
- Tangible fixed assets -€20,925
down €20,925 (-34.4%), from €60,746 to €39,820
- Intangible fixed assets +€9,895
new in 2025: €9,895
- Reserves +€21,666
up €21,666 (+92.3%), from €23,474 to €45,140
- Other debts +€18,881
up €18,881 (+81.0%), from €23,305 to €42,186
- Debts after one year -€9,333
down €9,333 (-25.4%), from €36,794 to €27,461
- Trade debts -€3,590
down €3,590 (-69.0%), from €5,206 to €1,616
- Gross operating margin +€32,586
up €32,586 (+117%), from €27,903 to €60,489
- Depreciation +€12,507
up €12,507 (+79.0%), from €15,825 to €28,332
- Taxes +€5,020
up €5,020 (+211%), from €2,379 to €7,399
- Financial charges -€1,193
down €1,193 (-43.4%), from €2,747 to €1,554
- Other operating charges +€690
up €690 (+81.4%), from €848 to €1,538
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €101,061 | €130,157 | +€29,096 | +28.8% |
| Fixed assets | 21/28 | €60,746 | €49,716 | -€11,030 | -18.2% |
| Intangible fixed assets | 21 | - | €9,895 | +€9,895 | |
| Tangible fixed assets | 22/27 | €60,746 | €39,820 | -€20,925 | -34.4% |
| Furniture and vehicles | 24 | €60,746 | €39,820 | -€20,925 | -34.4% |
| Current assets | 29/58 | €40,315 | €80,441 | +€40,126 | +99.5% |
| Amounts receivable within one year | 40/41 | €21,883 | €22,918 | +€1,035 | +4.7% |
| Trade receivables | 40 | €15,653 | €19,696 | +€4,043 | +25.8% |
| Other amounts receivable | 41 | €6,229 | €3,221 | -€3,008 | -48.3% |
| Cash at bank and in hand | 54/58 | €17,236 | €57,523 | +€40,287 | +234% |
| Deferred charges and accrued income | 490/1 | €1,196 | €0 | -€1,196 | -100% |
| Total equity and liabilities | 10/49 | €101,061 | €130,157 | +€29,096 | +28.8% |
| Equity | 10/15 | €25,474 | €47,140 | +€21,666 | +85.1% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €23,474 | €45,140 | +€21,666 | +92.3% |
| Distributable reserves | 133 | €23,474 | €45,140 | +€21,666 | +92.3% |
| Amounts payable | 17/49 | €75,587 | €83,017 | +€7,429 | +9.8% |
| Amounts payable after more than one year | 17 | €36,794 | €27,461 | -€9,333 | -25.4% |
| Financial debts | 170/4 | €36,794 | €27,461 | -€9,333 | -25.4% |
| Amounts payable within one year | 42/48 | €38,793 | €55,556 | +€16,763 | +43.2% |
| Current portion of amounts payable after more than one year | 42 | €9,005 | €9,333 | +€329 | +3.6% |
| Trade debts | 44 | €5,206 | €1,616 | -€3,590 | -69.0% |
| Suppliers | 440/4 | €5,206 | €1,616 | -€3,590 | -69.0% |
| Taxes, remuneration and social security | 45 | €1,278 | €2,420 | +€1,143 | +89.4% |
| Taxes | 450/3 | €1,278 | €2,420 | +€1,143 | +89.4% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €23,305 | €42,186 | +€18,881 | +81.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,825 | €28,332 | +€12,507 | +79.0% |
| Other operating charges | 640/8 | €848 | €1,538 | +€690 | +81.4% |
| Gross operating margin | 9900 | €27,903 | €60,489 | +€32,586 | +117% |
| Operating profit (loss) | 9901 | €11,231 | €30,619 | +€19,389 | +173% |
| Financial charges | 65/66B | €2,747 | €1,554 | -€1,193 | -43.4% |
| Recurring financial charges | 65 | €2,747 | €1,554 | -€1,193 | -43.4% |
| Profit (loss) for the period before taxes | 9903 | €8,483 | €29,066 | +€20,582 | +243% |
| Income taxes | 67/77 | €2,379 | €7,399 | +€5,020 | +211% |
| Profit (loss) for the period | 9904 | €6,104 | €21,666 | +€15,562 | +255% |
| Profit (loss) for the period to be appropriated | 9905 | €6,104 | €21,666 | +€15,562 | +255% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.