Matthias Strubbe: 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 Strubbe
Largest movements
- Tangible fixed assets -€6,375
down €6,375 (-52.6%), from €12,109 to €5,735
of which Other tangible fixed assets: -€6,741
- Receivables within one year +€3,397
up €3,397 (+13.5%), from €25,188 to €28,584
of which Trade receivables: +€2,397
- Cash -€3,045
down €3,045 (-6.2%), from €48,975 to €45,931
mainly Contributions, distributions and other (-€53,612) and Other debts (-€6,802)
- Deferred charges and accrued income -€2,356
down €2,356 (-88.5%), from €2,663 to €308
- Other debts -€6,802
down €6,802 (-10.8%), from €63,052 to €56,250
- Tax, wage and social debts -€2,337
down €2,337 (-57.9%), from €4,038 to €1,701
- Depreciation -€1,637
down €1,637 (-57.2%), from €2,861 to €1,224
- Taxes -€1,505
down €1,505 (-9.0%), from €16,700 to €15,195
- Other operating charges +€1,084
up €1,084 (+181%), from €598 to €1,682
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 | €88,936 | €80,557 | -€8,379 | -9.4% |
| Fixed assets | 21/28 | €12,109 | €5,735 | -€6,375 | -52.6% |
| Tangible fixed assets | 22/27 | €12,109 | €5,735 | -€6,375 | -52.6% |
| Furniture and vehicles | 24 | €2,691 | €3,058 | +€366 | +13.6% |
| Other tangible fixed assets | 26 | €9,418 | €2,677 | -€6,741 | -71.6% |
| Current assets | 29/58 | €76,826 | €74,822 | -€2,004 | -2.6% |
| Amounts receivable within one year | 40/41 | €25,188 | €28,584 | +€3,397 | +13.5% |
| Trade receivables | 40 | €25,188 | €27,584 | +€2,397 | +9.5% |
| Other amounts receivable | 41 | - | €1,000 | +€1,000 | |
| Cash at bank and in hand | 54/58 | €48,975 | €45,931 | -€3,045 | -6.2% |
| Deferred charges and accrued income | 490/1 | €2,663 | €308 | -€2,356 | -88.5% |
| Total equity and liabilities | 10/49 | €88,936 | €80,557 | -€8,379 | -9.4% |
| Equity | 10/15 | €18,550 | €18,550 | = | 0.0% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €70,386 | €62,007 | -€8,379 | -11.9% |
| Amounts payable within one year | 42/48 | €70,386 | €61,879 | -€8,507 | -12.1% |
| Financial debts | 43 | - | €133 | +€133 | |
| Credit institutions | 430/8 | - | €133 | +€133 | |
| Trade debts | 44 | €3,296 | €3,794 | +€498 | +15.1% |
| Suppliers | 440/4 | €3,296 | €3,794 | +€498 | +15.1% |
| Taxes, remuneration and social security | 45 | €4,038 | €1,701 | -€2,337 | -57.9% |
| Taxes | 450/3 | €4,038 | €1,701 | -€2,337 | -57.9% |
| Other amounts payable | 47/48 | €63,052 | €56,250 | -€6,802 | -10.8% |
| Accrued charges and deferred income | 492/3 | - | €128 | +€128 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,861 | €1,224 | -€1,637 | -57.2% |
| Other operating charges | 640/8 | €598 | €1,682 | +€1,084 | +181% |
| Non-recurring operating charges | 66A | - | €10,347 | +€10,347 | |
| Gross operating margin | 9900 | €82,948 | €82,166 | -€782 | -0.9% |
| Operating profit (loss) | 9901 | €79,488 | €68,912 | -€10,576 | -13.3% |
| Financial income | 75/76B | €0 | €0 | +€0 | +100% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +100% |
| Financial charges | 65/66B | €85 | €105 | +€20 | +23.5% |
| Recurring financial charges | 65 | €85 | €105 | +€20 | +23.5% |
| Profit (loss) for the period before taxes | 9903 | €79,403 | €68,807 | -€10,596 | -13.3% |
| Income taxes | 67/77 | €16,700 | €15,195 | -€1,505 | -9.0% |
| Profit (loss) for the period | 9904 | €62,703 | €53,612 | -€9,091 | -14.5% |
| Profit (loss) for the period to be appropriated | 9905 | €62,703 | €53,612 | -€9,091 | -14.5% |
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 24 October 2026 via checked.be.