Matthias Dhaene: 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.
Matthias Dhaene
Largest movements
- Current investments -€40,000
down €40,000 (-100%), from €40,000 to €0
- Cash +€9,485
up €9,485 (+40.0%), from €23,708 to €33,192
mainly Current investments (+€40,000) and Other debts (+€37,012)
- Tangible fixed assets -€5,621
down €5,621 (-23.9%), from €23,502 to €17,881
- Receivables within one year -€2,288
down €2,288 (-96.0%), from €2,382 to €94
of which Other amounts receivable: -€2,382
- Reserves -€81,992
down €81,992 (-100%), from €81,992 to €0
- Other debts +€37,012
up €37,012, from €0 to €37,012
- Tax, wage and social debts +€6,677
up €6,677 (+161%), from €4,138 to €10,815
of which Remuneration and social security: +€6,000
- Gross operating margin +€6,255
up €6,255 (+12.6%), from €49,610 to €55,865
- Taxes +€1,399
up €1,399 (+11.3%), from €12,353 to €13,752
- Financial income -€1,149
down €1,149 (-85.7%), from €1,341 to €192
- Depreciation +€1,016
up €1,016 (+22.1%), from €4,605 to €5,621
- Financial charges -€667
down €667 (-94.3%), from €708 to €40
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 | €90,950 | €51,965 | -€38,985 | -42.9% |
| Fixed assets | 21/28 | €23,502 | €17,881 | -€5,621 | -23.9% |
| Tangible fixed assets | 22/27 | €23,502 | €17,881 | -€5,621 | -23.9% |
| Furniture and vehicles | 24 | €23,502 | €17,881 | -€5,621 | -23.9% |
| Current assets | 29/58 | €67,448 | €34,084 | -€33,364 | -49.5% |
| Amounts receivable within one year | 40/41 | €2,382 | €94 | -€2,288 | -96.0% |
| Trade receivables | 40 | - | €94 | +€94 | |
| Other amounts receivable | 41 | €2,382 | €0 | -€2,382 | -100% |
| Current investments | 50/53 | €40,000 | €0 | -€40,000 | -100% |
| Cash at bank and in hand | 54/58 | €23,708 | €33,192 | +€9,485 | +40.0% |
| Deferred charges and accrued income | 490/1 | €1,358 | €797 | -€561 | -41.3% |
| Total equity and liabilities | 10/49 | €90,950 | €51,965 | -€38,985 | -42.9% |
| Equity | 10/15 | €83,992 | €2,000 | -€81,992 | -97.6% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €81,992 | €0 | -€81,992 | -100% |
| Distributable reserves | 133 | €81,992 | €0 | -€81,992 | -100% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €6,958 | €49,965 | +€43,006 | +618% |
| Amounts payable within one year | 42/48 | €6,290 | €49,965 | +€43,675 | +694% |
| Trade debts | 44 | €2,152 | €2,138 | -€15 | -0.7% |
| Suppliers | 440/4 | €2,152 | €2,138 | -€15 | -0.7% |
| Taxes, remuneration and social security | 45 | €4,138 | €10,815 | +€6,677 | +161% |
| Taxes | 450/3 | €4,138 | €4,815 | +€677 | +16.4% |
| Remuneration and social security | 454/9 | - | €6,000 | +€6,000 | |
| Other amounts payable | 47/48 | €0 | €37,012 | +€37,012 | |
| Accrued charges and deferred income | 492/3 | €669 | €0 | -€669 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,605 | €5,621 | +€1,016 | +22.1% |
| Other operating charges | 640/8 | €866 | €727 | -€140 | -16.1% |
| Gross operating margin | 9900 | €49,610 | €55,865 | +€6,255 | +12.6% |
| Operating profit (loss) | 9901 | €44,138 | €49,517 | +€5,378 | +12.2% |
| Financial income | 75/76B | €1,341 | €192 | -€1,149 | -85.7% |
| Recurring financial income | 75 | €1,341 | €192 | -€1,149 | -85.7% |
| Financial charges | 65/66B | €708 | €40 | -€667 | -94.3% |
| Recurring financial charges | 65 | €708 | €40 | -€667 | -94.3% |
| Profit (loss) for the period before taxes | 9903 | €44,772 | €49,668 | +€4,897 | +10.9% |
| Income taxes | 67/77 | €12,353 | €13,752 | +€1,399 | +11.3% |
| Profit (loss) for the period | 9904 | €32,418 | €35,916 | +€3,498 | +10.8% |
| Profit (loss) for the period to be appropriated | 9905 | €32,418 | €35,916 | +€3,498 | +10.8% |
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 30 October 2026 via checked.be.