MATTHEUS: 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.
MATTHEUS
Largest movements
- Cash +€84,558
up €84,558 (+110.6%), from €76,423 to €160,982
mainly Net result for the year (+€70,044) and Depreciation (+€14,522)
- Receivables within one year -€6,574
down €6,574 (-64.0%), from €10,264 to €3,690
of which Other amounts receivable: -€6,238
- Tangible fixed assets -€5,895
down €5,895 (-15.8%), from €37,236 to €31,342
of which Plant, machinery and equipment: -€5,844
- Reserves +€70,044
up €70,044 (+135.1%), from €51,863 to €121,907
of which Distributable reserves: +€68,672
- Gross operating margin +€43,390
up €43,390 (+60.5%), from €71,667 to €115,057
- Taxes +€12,650
up €12,650 (+102.0%), from €12,408 to €25,059
- Financial charges -€10,782
down €10,782 (-85.2%), from €12,659 to €1,877
of which Financial charges: -€10,782
- Staff costs +€2,995
new in 2025: €2,995
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 | €123,988 | €196,081 | +€72,092 | +58.1% |
| Fixed assets | 21/28 | €37,236 | €31,342 | -€5,895 | -15.8% |
| Tangible fixed assets | 22/27 | €37,236 | €31,342 | -€5,895 | -15.8% |
| Land and buildings | 22 | €14,459 | €12,723 | -€1,735 | -12.0% |
| Plant, machinery and equipment | 23 | €15,755 | €9,911 | -€5,844 | -37.1% |
| Furniture and vehicles | 24 | €7,023 | €8,707 | +€1,684 | +24.0% |
| Current assets | 29/58 | €86,752 | €164,739 | +€77,987 | +89.9% |
| Amounts receivable within one year | 40/41 | €10,264 | €3,690 | -€6,574 | -64.0% |
| Trade receivables | 40 | €434 | €98 | -€335 | -77.3% |
| Other amounts receivable | 41 | €9,830 | €3,592 | -€6,238 | -63.5% |
| Cash at bank and in hand | 54/58 | €76,423 | €160,982 | +€84,558 | +110.6% |
| Deferred charges and accrued income | 490/1 | €65 | €67 | +€2 | +3.1% |
| Total equity and liabilities | 10/49 | €123,988 | €196,081 | +€72,092 | +58.1% |
| Equity | 10/15 | -€102,225 | -€32,181 | +€70,044 | +68.5% |
| Contributions | 10/11 | €80,615 | €80,615 | = | 0.0% |
| Reserves | 13 | €51,863 | €121,907 | +€70,044 | +135.1% |
| Non-distributable reserves | 130/1 | - | €1,371 | +€1,371 | |
| Reserves not available under the articles | 1311 | - | €1,371 | +€1,371 | |
| Distributable reserves | 133 | €51,863 | €120,536 | +€68,672 | +132.4% |
| Profit (loss) carried forward | 14 | -€234,703 | -€234,703 | = | 0.0% |
| Amounts payable | 17/49 | €226,214 | €228,262 | +€2,049 | +0.9% |
| Amounts payable within one year | 42/48 | €226,214 | €228,262 | +€2,049 | +0.9% |
| Trade debts | 44 | €540 | €1,638 | +€1,098 | +203.4% |
| Suppliers | 440/4 | €540 | €1,638 | +€1,098 | +203.4% |
| Taxes, remuneration and social security | 45 | €3,128 | €5,059 | +€1,931 | +61.7% |
| Taxes | 450/3 | €3,128 | €5,059 | +€1,931 | +61.7% |
| Other amounts payable | 47/48 | €222,546 | €221,566 | -€980 | -0.4% |
| Non-recurring operating income | 76A | - | €57 | +€57 | |
| Remuneration, social security and pensions | 62 | - | €2,995 | +€2,995 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,172 | €14,522 | +€350 | +2.5% |
| Other operating charges | 640/8 | €72 | €561 | +€489 | +684.1% |
| Gross operating margin | 9900 | €71,667 | €115,057 | +€43,390 | +60.5% |
| Operating profit (loss) | 9901 | €57,423 | €96,979 | +€39,556 | +68.9% |
| Financial income | 75/76B | €1 | €0 | -€1 | -100.0% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -100.0% |
| Non-recurring financial income | 76B | €1 | €0 | -€1 | -100.0% |
| Financial charges | 65/66B | €12,659 | €1,877 | -€10,782 | -85.2% |
| Recurring financial charges | 65 | €12,659 | €1,877 | -€10,782 | -85.2% |
| Non-recurring financial charges | 66B | €0 | €0 | -€0 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | €44,765 | €95,103 | +€50,337 | +112.4% |
| Income taxes | 67/77 | €12,408 | €25,059 | +€12,650 | +102.0% |
| Profit (loss) for the period | 9904 | €32,357 | €70,044 | +€37,687 | +116.5% |
| Profit (loss) for the period to be appropriated | 9905 | €32,357 | €70,044 | +€37,687 | +116.5% |
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 6 October 2026 via checked.be.