MATTHIJS: 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.
What changed
MATTHIJS
NACE 43.222, Installation of electric heating, air conditioning, cooling and ventilation
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€853,452
2024 · €589,750+€263,702
Equity
€4.4m
2024 · €3.6m+€853,452
Cash
€2.5m
2024 · €1.1m+€1.4m
Balance sheet total
€6.7m
2024 · €5.7m+€977,362
Largest movements
Assets
- Cash +€1.4m
up €1.4m (+130.7%), from €1.1m to €2.5m
mainly Net result for the year (+€853,452) and Receivables within one year (+€538,114)
- Receivables within one year -€538,114
down €538,114 (-19.1%), from €2.8m to €2.3m
of which Trade receivables: -€601,658
Equity and liabilities
- Reserves +€853,452
up €853,452 (+24.7%), from €3.5m to €4.3m
of which Distributable reserves: +€853,452
- Tax, wage and social debts +€154,728
up €154,728 (+96.0%), from €161,115 to €315,842
of which Remuneration and social security: +€92,986
- Other debts -€131,384
down €131,384 (-83.3%), from €157,811 to €26,427
- Debts after one year +€77,474
up €77,474 (+14.2%), from €545,050 to €622,524
Income statement
- Gross operating margin +€822,840
up €822,840 (+25.9%), from €3.2m to €4.0m
- Staff costs +€383,309
up €383,309 (+18.0%), from €2.1m to €2.5m
- Taxes +€97,746
up €97,746 (+47.9%), from €204,117 to €301,864
- Depreciation +€49,540
up €49,540 (+30.3%), from €163,429 to €212,969
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.
Result 2024
€589,750
Gross operating margin
+€822,840
Staff costs
-€383,309
Depreciation
-€49,540
Other operating charges
-€29,101
Other operating items
+€23,539
Financial income
-€8,974
Financial charges
-€14,007
Taxes
-€97,746
Result 2025
€853,452
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.
From operations
+€1.6m
Investment
-€236,911
Financing
+€119,534
Cash 2024
€1.1m
From operations (derived)
+€1.6m
Net result for the year
+€853,452
Depreciation
+€212,969
Stocks and contracts
-€42,508
Receivables within one year
+€538,114
Deferred charges and accrued income
-€13,616
Trade debts
-€17,687
Tax, wage and social debts
+€154,728
Other debts
-€131,384
Accrued charges and deferred income
-€1,280
Investment (derived)
-€236,911
Investment in fixed assets (net)
-€236,911
Financing
+€119,534
Debts after one year
+€77,474
Current portion of long-term debt
+€42,060
Cash 2025
€2.5m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,719,049 | €6,696,411 | +€977,362 | +17.1% |
| Fixed assets | 21/28 | €1,093,733 | €1,117,675 | +€23,942 | +2.2% |
| Intangible fixed assets | 21 | €17,973 | €13,897 | -€4,076 | -22.7% |
| Tangible fixed assets | 22/27 | €1,075,470 | €1,103,478 | +€28,008 | +2.6% |
| Land and buildings | 22 | €223,069 | €201,437 | -€21,632 | -9.7% |
| Plant, machinery and equipment | 23 | €54,520 | €48,935 | -€5,585 | -10.2% |
| Furniture and vehicles | 24 | €457,597 | €404,877 | -€52,720 | -11.5% |
| Other tangible fixed assets | 26 | €340,284 | €448,229 | +€107,945 | +31.7% |
| Financial fixed assets | 28 | €290 | €300 | +€10 | +3.4% |
| Current assets | 29/58 | €4,625,316 | €5,578,736 | +€953,420 | +20.6% |
| Amounts receivable after more than one year | 29 | €250,000 | €250,000 | = | 0.0% |
| Other amounts receivable | 291 | €250,000 | €250,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €414,733 | €457,241 | +€42,508 | +10.2% |
| Stocks | 30/36 | €414,733 | €457,241 | +€42,508 | +10.2% |
| Amounts receivable within one year | 40/41 | €2,817,001 | €2,278,887 | -€538,114 | -19.1% |
| Trade receivables | 40 | €2,586,759 | €1,985,102 | -€601,658 | -23.3% |
| Other amounts receivable | 41 | €230,241 | €293,785 | +€63,544 | +27.6% |
| Cash at bank and in hand | 54/58 | €1,098,514 | €2,533,923 | +€1.4m | +130.7% |
| Deferred charges and accrued income | 490/1 | €45,069 | €58,685 | +€13,616 | +30.2% |
| Total equity and liabilities | 10/49 | €5,719,049 | €6,696,411 | +€977,362 | +17.1% |
| Equity | 10/15 | €3,559,725 | €4,413,177 | +€853,452 | +24.0% |
| Contributions | 10/11 | €99,955 | €99,955 | = | 0.0% |
| Capital | 10 | €80,000 | €80,000 | = | 0.0% |
| Issued capital | 100 | €80,000 | €80,000 | = | 0.0% |
| Outside capital | 11 | €19,955 | €19,955 | = | 0.0% |
| Share premium | 1100/10 | €19,955 | €19,955 | = | 0.0% |
| Reserves | 13 | €3,459,770 | €4,313,222 | +€853,452 | +24.7% |
| Non-distributable reserves | 130/1 | €8,000 | €8,000 | = | 0.0% |
| Legal reserve | 130 | €8,000 | €8,000 | = | 0.0% |
| Distributable reserves | 133 | €3,451,770 | €4,305,222 | +€853,452 | +24.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €2,159,324 | €2,283,234 | +€123,910 | +5.7% |
| Amounts payable after more than one year | 17 | €545,050 | €622,524 | +€77,474 | +14.2% |
| Financial debts | 170/4 | €545,050 | €622,524 | +€77,474 | +14.2% |
| Amounts payable within one year | 42/48 | €1,612,611 | €1,660,327 | +€47,716 | +3.0% |
| Current portion of amounts payable after more than one year | 42 | €156,240 | €198,300 | +€42,060 | +26.9% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €1,137,445 | €1,119,758 | -€17,687 | -1.6% |
| Suppliers | 440/4 | €1,137,445 | €1,119,758 | -€17,687 | -1.6% |
| Taxes, remuneration and social security | 45 | €161,115 | €315,842 | +€154,728 | +96.0% |
| Taxes | 450/3 | €28,917 | €90,659 | +€61,742 | +213.5% |
| Remuneration and social security | 454/9 | €132,197 | €225,183 | +€92,986 | +70.3% |
| Other amounts payable | 47/48 | €157,811 | €26,427 | -€131,384 | -83.3% |
| Accrued charges and deferred income | 492/3 | €1,663 | €382 | -€1,280 | -77.0% |
| Non-recurring operating income | 76A | €7,940 | €785 | -€7,154 | -90.1% |
| Remuneration, social security and pensions | 62 | €2,132,776 | €2,516,086 | +€383,309 | +18.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €163,429 | €212,969 | +€49,540 | +30.3% |
| Other operating charges | 640/8 | €56,871 | €85,973 | +€29,101 | +51.2% |
| Non-recurring operating charges | 66A | €23,539 | €0 | -€23,539 | -100.0% |
| Gross operating margin | 9900 | €3,180,176 | €4,003,016 | +€822,840 | +25.9% |
| Operating profit (loss) | 9901 | €803,559 | €1,187,988 | +€384,429 | +47.8% |
| Financial income | 75/76B | €17,444 | €8,471 | -€8,974 | -51.4% |
| Recurring financial income | 75 | €17,444 | €8,471 | -€8,974 | -51.4% |
| Financial charges | 65/66B | €27,136 | €41,143 | +€14,007 | +51.6% |
| Recurring financial charges | 65 | €27,136 | €41,143 | +€14,007 | +51.6% |
| Profit (loss) for the period before taxes | 9903 | €793,867 | €1,155,316 | +€361,449 | +45.5% |
| Income taxes | 67/77 | €204,117 | €301,864 | +€97,746 | +47.9% |
| Profit (loss) for the period | 9904 | €589,750 | €853,452 | +€263,702 | +44.7% |
| Profit (loss) for the period to be appropriated | 9905 | €589,750 | €853,452 | +€263,702 | +44.7% |
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 8 October 2026 via checked.be.