Matthijs De Bruyn: 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.
Matthijs De Bruyn
Largest movements
- Cash +€48,108
up €48,108 (+132%), from €36,554 to €84,662
mainly Net result for the year (+€29,900) and Tax, wage and social debts (+€9,446)
- Tangible fixed assets -€5,525
down €5,525 (-92.4%), from €5,979 to €454
- Receivables within one year -€1,357
no longer reported in 2025 (was €1,357)
- Profit (loss) carried forward +€29,900
up €29,900 (+106%), from €28,245 to €58,145
- Tax, wage and social debts +€9,446
up €9,446 (+67.6%), from €13,979 to €23,425
- Trade debts +€1,885
up €1,885 (+1,172%), from €161 to €2,045
- Gross operating margin +€14,825
up €14,825 (+46.9%), from €31,628 to €46,454
- Taxes +€3,100
up €3,100 (+48.4%), from €6,412 to €9,512
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 | €43,890 | €85,116 | +€41,226 | +93.9% |
| Fixed assets | 21/28 | €5,979 | €454 | -€5,525 | -92.4% |
| Tangible fixed assets | 22/27 | €5,979 | €454 | -€5,525 | -92.4% |
| Furniture and vehicles | 24 | €5,979 | €454 | -€5,525 | -92.4% |
| Current assets | 29/58 | €37,911 | €84,662 | +€46,751 | +123% |
| Amounts receivable within one year | 40/41 | €1,357 | - | -€1,357 | |
| Trade receivables | 40 | €1,357 | - | -€1,357 | |
| Cash at bank and in hand | 54/58 | €36,554 | €84,662 | +€48,108 | +132% |
| Total equity and liabilities | 10/49 | €43,890 | €85,116 | +€41,226 | +93.9% |
| Equity | 10/15 | €29,745 | €59,645 | +€29,900 | +101% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €28,245 | €58,145 | +€29,900 | +106% |
| Amounts payable | 17/49 | €14,145 | €25,471 | +€11,326 | +80.1% |
| Amounts payable within one year | 42/48 | €14,145 | €25,471 | +€11,326 | +80.1% |
| Trade debts | 44 | €161 | €2,045 | +€1,885 | +1,172% |
| Suppliers | 440/4 | €161 | €2,045 | +€1,885 | +1,172% |
| Taxes, remuneration and social security | 45 | €13,979 | €23,425 | +€9,446 | +67.6% |
| Taxes | 450/3 | €13,979 | €23,425 | +€9,446 | +67.6% |
| Other amounts payable | 47/48 | €5 | - | -€5 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,525 | €5,525 | = | 0.0% |
| Other operating charges | 640/8 | €1,354 | €1,447 | +€93 | +6.8% |
| Gross operating margin | 9900 | €31,628 | €46,454 | +€14,825 | +46.9% |
| Operating profit (loss) | 9901 | €24,750 | €39,482 | +€14,733 | +59.5% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €200 | €71 | -€130 | -64.8% |
| Recurring financial charges | 65 | €200 | €71 | -€130 | -64.8% |
| Profit (loss) for the period before taxes | 9903 | €24,550 | €39,412 | +€14,862 | +60.5% |
| Income taxes | 67/77 | €6,412 | €9,512 | +€3,100 | +48.4% |
| Profit (loss) for the period | 9904 | €18,138 | €29,900 | +€11,761 | +64.8% |
| Profit (loss) for the period to be appropriated | 9905 | €18,138 | €29,900 | +€11,761 | +64.8% |
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 29 October 2026 via checked.be.