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
- Tangible fixed assets -€38,589
down €38,589 (-20.6%), from €187,236 to €148,647
of which Furniture and vehicles: -€35,454
- Stocks and contracts -€16,308
down €16,308 (-6.2%), from €261,612 to €245,304
- Current investments +€15,155
up €15,155 (+101.0%), from €15,000 to €30,155
- Receivables within one year +€14,367
up €14,367 (+83.9%), from €17,124 to €31,491
of which Trade receivables: +€13,380
- Cash -€12,088
down €12,088 (-29.4%), from €41,148 to €29,060
mainly Contributions, distributions and other (-€181,075) and Debts after one year (-€52,302)
- Other debts +€177,433
up €177,433 (+1262.4%), from €14,055 to €191,488
- Reserves -€160,719
no longer reported in 2025 (was €160,719)
- Debts after one year -€52,302
down €52,302 (-46.3%), from €112,847 to €60,546
- Gross operating margin +€6,880
up €6,880 (+6.9%), from €99,817 to €106,697
- Financial charges +€6,070
up €6,070 (+36.3%), from €16,716 to €22,786
- Depreciation +€3,472
up €3,472 (+6.8%), from €50,959 to €54,431
- Staff costs -€3,110
no longer reported in 2025 (was €3,110)
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 | €525,953 | €489,096 | -€36,856 | -7.0% |
| Fixed assets | 21/28 | €187,236 | €148,647 | -€38,589 | -20.6% |
| Tangible fixed assets | 22/27 | €187,236 | €148,647 | -€38,589 | -20.6% |
| Land and buildings | 22 | €74,192 | €61,293 | -€12,899 | -17.4% |
| Plant, machinery and equipment | 23 | €11,602 | €21,365 | +€9,763 | +84.2% |
| Furniture and vehicles | 24 | €101,443 | €65,989 | -€35,454 | -34.9% |
| Current assets | 29/58 | €338,716 | €340,449 | +€1,733 | +0.5% |
| Stocks and contracts in progress | 3 | €261,612 | €245,304 | -€16,308 | -6.2% |
| Stocks | 30/36 | €261,612 | €245,304 | -€16,308 | -6.2% |
| Amounts receivable within one year | 40/41 | €17,124 | €31,491 | +€14,367 | +83.9% |
| Trade receivables | 40 | €17,124 | €30,504 | +€13,380 | +78.1% |
| Other amounts receivable | 41 | - | €987 | +€987 | |
| Current investments | 50/53 | €15,000 | €30,155 | +€15,155 | +101.0% |
| Cash at bank and in hand | 54/58 | €41,148 | €29,060 | -€12,088 | -29.4% |
| Deferred charges and accrued income | 490/1 | €3,832 | €4,439 | +€607 | +15.9% |
| Total equity and liabilities | 10/49 | €525,953 | €489,096 | -€36,856 | -7.0% |
| Equity | 10/15 | €166,719 | €6,000 | -€160,719 | -96.4% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €160,719 | - | -€160,719 | |
| Distributable reserves | 133 | €160,719 | - | -€160,719 | |
| Amounts payable | 17/49 | €359,233 | €483,096 | +€123,863 | +34.5% |
| Amounts payable after more than one year | 17 | €112,847 | €60,546 | -€52,302 | -46.3% |
| Financial debts | 170/4 | €112,847 | €60,546 | -€52,302 | -46.3% |
| Amounts payable within one year | 42/48 | €246,386 | €422,551 | +€176,165 | +71.5% |
| Current portion of amounts payable after more than one year | 42 | €35,025 | €32,302 | -€2,723 | -7.8% |
| Trade debts | 44 | €189,575 | €191,159 | +€1,584 | +0.8% |
| Suppliers | 440/4 | €189,575 | €191,159 | +€1,584 | +0.8% |
| Taxes, remuneration and social security | 45 | €7,731 | €7,602 | -€129 | -1.7% |
| Taxes | 450/3 | €7,731 | €7,602 | -€129 | -1.7% |
| Other amounts payable | 47/48 | €14,055 | €191,488 | +€177,433 | +1262.4% |
| Remuneration, social security and pensions | 62 | €3,110 | - | -€3,110 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,959 | €54,431 | +€3,472 | +6.8% |
| Other operating charges | 640/8 | €2,046 | €1,883 | -€163 | -7.9% |
| Non-recurring operating charges | 66A | €175 | - | -€175 | |
| Gross operating margin | 9900 | €99,817 | €106,697 | +€6,880 | +6.9% |
| Operating profit (loss) | 9901 | €43,527 | €50,383 | +€6,856 | +15.8% |
| Financial income | 75/76B | €270 | €513 | +€242 | +89.6% |
| Recurring financial income | 75 | €270 | €513 | +€242 | +89.6% |
| Financial charges | 65/66B | €16,716 | €22,786 | +€6,070 | +36.3% |
| Recurring financial charges | 65 | €16,716 | €22,786 | +€6,070 | +36.3% |
| Profit (loss) for the period before taxes | 9903 | €27,081 | €28,110 | +€1,029 | +3.8% |
| Income taxes | 67/77 | €7,624 | €7,755 | +€131 | +1.7% |
| Profit (loss) for the period | 9904 | €19,458 | €20,355 | +€898 | +4.6% |
| Profit (loss) for the period to be appropriated | 9905 | €19,458 | €20,355 | +€898 | +4.6% |
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.