Matthijs Debaeke: 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 Debaeke
Largest movements
- Stocks and contracts -€12,143
down €12,143 (-7.9%), from €154,350 to €142,207
- Cash +€4,630
up €4,630 (+25.2%), from €18,370 to €23,000
mainly Trade debts (+€18,125) and Advances received (+€13,000)
- Receivables within one year -€4,447
down €4,447 (-3.2%), from €139,585 to €135,138
of which Trade receivables: -€25,234
- Debts after one year -€21,378
no longer reported in 2024 (was €21,378)
- Trade debts +€18,125
up €18,125 (+41.4%), from €43,752 to €61,877
- Tax, wage and social debts -€14,835
down €14,835 (-41.1%), from €36,083 to €21,248
- Advances received +€13,000
new in 2024: €13,000
- Short-term financial debts -€9,474
no longer reported in 2024 (was €9,474)
- Gross operating margin +€53,527
up €53,527, from -€31,730 to €21,797
- Financial income +€1,313
up €1,313 (+51.5%), from €2,551 to €3,864
- Write-downs +€700
new in 2024: €700
- Financial charges -€668
down €668 (-4.9%), from €13,643 to €12,975
- Depreciation +€580
up €580 (+15.2%), from €3,827 to €4,407
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €319,542 | €306,476 | -€13,066 | -4.1% |
| Fixed assets | 21/28 | €7,237 | €6,131 | -€1,106 | -15.3% |
| Tangible fixed assets | 22/27 | €7,237 | €6,131 | -€1,106 | -15.3% |
| Plant, machinery and equipment | 23 | €7,237 | €6,131 | -€1,106 | -15.3% |
| Current assets | 29/58 | €312,305 | €300,345 | -€11,960 | -3.8% |
| Stocks and contracts in progress | 3 | €154,350 | €142,207 | -€12,143 | -7.9% |
| Stocks | 30/36 | €154,350 | €142,207 | -€12,143 | -7.9% |
| Amounts receivable within one year | 40/41 | €139,585 | €135,138 | -€4,447 | -3.2% |
| Trade receivables | 40 | €80,226 | €54,992 | -€25,234 | -31.5% |
| Other amounts receivable | 41 | €59,359 | €80,146 | +€20,787 | +35.0% |
| Cash at bank and in hand | 54/58 | €18,370 | €23,000 | +€4,630 | +25.2% |
| Total equity and liabilities | 10/49 | €319,542 | €306,476 | -€13,066 | -4.1% |
| Equity | 10/15 | €30,857 | €33,347 | +€2,490 | +8.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €18,457 | €20,947 | +€2,490 | +13.5% |
| Distributable reserves | 133 | €18,457 | €20,947 | +€2,490 | +13.5% |
| Amounts payable | 17/49 | €288,685 | €273,129 | -€15,556 | -5.4% |
| Amounts payable after more than one year | 17 | €21,378 | - | -€21,378 | |
| Financial debts | 170/4 | €21,378 | - | -€21,378 | |
| Amounts payable within one year | 42/48 | €266,994 | €272,503 | +€5,509 | +2.1% |
| Current portion of amounts payable after more than one year | 42 | €177,685 | €176,378 | -€1,307 | -0.7% |
| Financial debts | 43 | €9,474 | - | -€9,474 | |
| Credit institutions | 430/8 | €9,474 | - | -€9,474 | |
| Trade debts | 44 | €43,752 | €61,877 | +€18,125 | +41.4% |
| Suppliers | 440/4 | €43,752 | €61,877 | +€18,125 | +41.4% |
| Advances received on contracts in progress | 46 | - | €13,000 | +€13,000 | |
| Taxes, remuneration and social security | 45 | €36,083 | €21,248 | -€14,835 | -41.1% |
| Taxes | 450/3 | €36,083 | €21,248 | -€14,835 | -41.1% |
| Accrued charges and deferred income | 492/3 | €313 | €626 | +€313 | +100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,827 | €4,407 | +€580 | +15.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €700 | +€700 | |
| Other operating charges | 640/8 | €5,252 | €5,089 | -€163 | -3.1% |
| Gross operating margin | 9900 | -€31,730 | €21,797 | +€53,527 | |
| Operating profit (loss) | 9901 | -€40,809 | €11,601 | +€52,410 | |
| Financial income | 75/76B | €2,551 | €3,864 | +€1,313 | +51.5% |
| Recurring financial income | 75 | €2,551 | €3,864 | +€1,313 | +51.5% |
| Financial charges | 65/66B | €13,643 | €12,975 | -€668 | -4.9% |
| Recurring financial charges | 65 | €13,643 | €12,975 | -€668 | -4.9% |
| Profit (loss) for the period before taxes | 9903 | -€51,901 | €2,490 | +€54,391 | |
| Profit (loss) for the period | 9904 | -€51,901 | €2,490 | +€54,391 | |
| Profit (loss) for the period to be appropriated | 9905 | -€51,901 | €2,490 | +€54,391 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.