MATTHIEU DERYNCK: 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.
MATTHIEU DERYNCK
Largest movements
- Receivables within one year +€78,602
new in 2025: €78,602
of which Trade receivables: +€78,277
- Cash -€12,824
down €12,824 (-15.9%), from €80,780 to €67,956
mainly Receivables within one year (-€78,602) and Tax, wage and social debts (-€15,895)
- Profit (loss) carried forward +€82,450
up €82,450 (+142%), from €58,074 to €140,524
- Tax, wage and social debts -€15,895
down €15,895 (-80.3%), from €19,802 to €3,907
- Gross operating margin +€26,010
up €26,010 (+33.4%), from €77,956 to €103,966
- Taxes +€1,317
up €1,317 (+6.8%), from €19,358 to €20,675
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 | €80,780 | €146,558 | +€65,778 | +81.4% |
| Current assets | 29/58 | €80,780 | €146,558 | +€65,778 | +81.4% |
| Amounts receivable within one year | 40/41 | - | €78,602 | +€78,602 | |
| Trade receivables | 40 | - | €78,277 | +€78,277 | |
| Other amounts receivable | 41 | - | €325 | +€325 | |
| Cash at bank and in hand | 54/58 | €80,780 | €67,956 | -€12,824 | -15.9% |
| Total equity and liabilities | 10/49 | €80,780 | €146,558 | +€65,778 | +81.4% |
| Equity | 10/15 | €59,074 | €141,524 | +€82,450 | +140% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €58,074 | €140,524 | +€82,450 | +142% |
| Amounts payable | 17/49 | €21,707 | €5,035 | -€16,672 | -76.8% |
| Amounts payable within one year | 42/48 | €21,707 | €5,035 | -€16,672 | -76.8% |
| Trade debts | 44 | €1,905 | €1,127 | -€777 | -40.8% |
| Suppliers | 440/4 | €1,905 | €1,127 | -€777 | -40.8% |
| Taxes, remuneration and social security | 45 | €19,802 | €3,907 | -€15,895 | -80.3% |
| Taxes | 450/3 | €19,802 | €3,907 | -€15,895 | -80.3% |
| Other operating charges | 640/8 | €520 | €791 | +€271 | +52.1% |
| Gross operating margin | 9900 | €77,956 | €103,966 | +€26,010 | +33.4% |
| Operating profit (loss) | 9901 | €77,435 | €103,175 | +€25,739 | +33.2% |
| Financial charges | 65/66B | €4 | €50 | +€46 | +1,224% |
| Recurring financial charges | 65 | €4 | €50 | +€46 | +1,224% |
| Profit (loss) for the period before taxes | 9903 | €77,432 | €103,125 | +€25,694 | +33.2% |
| Income taxes | 67/77 | €19,358 | €20,675 | +€1,317 | +6.8% |
| Profit (loss) for the period | 9904 | €58,074 | €82,450 | +€24,376 | +42.0% |
| Profit (loss) for the period to be appropriated | 9905 | €58,074 | €82,450 | +€24,376 | +42.0% |
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 14 October 2026 via checked.be.