Matths: 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.
Matths
Largest movements
- Receivables within one year -€13,242
down €13,242 (-47.4%), from €27,944 to €14,702
of which Other amounts receivable: -€12,024
- Cash +€1,272
up €1,272 (+31.6%), from €4,030 to €5,302
mainly Receivables within one year (+€13,242) and Depreciation (+€4,303)
- Deferred charges and accrued income -€613
down €613 (-34.6%), from €1,771 to €1,158
- Reserves -€5,992
down €5,992 (-33.2%), from €18,036 to €12,044
- Trade debts -€5,837
down €5,837 (-83.8%), from €6,967 to €1,130
- Debts after one year -€966
no longer reported in 2025 (was €966)
- Tax, wage and social debts +€836
up €836 (+6.8%), from €12,283 to €13,119
- Other operating charges -€827
down €827 (-47.1%), from €1,756 to €929
- Gross operating margin -€814
down €814 (-6.4%), from €12,808 to €11,994
- Taxes +€624
up €624 (+26.0%), from €2,401 to €3,025
- Financial charges -€139
down €139 (-21.6%), from €645 to €506
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 | €44,480 | €32,259 | -€12,221 | -27.5% |
| Fixed assets | 21/28 | €10,735 | €11,097 | +€362 | +3.4% |
| Tangible fixed assets | 22/27 | €10,735 | €11,097 | +€362 | +3.4% |
| Plant, machinery and equipment | 23 | - | €4,155 | +€4,155 | |
| Furniture and vehicles | 24 | €9,707 | €6,426 | -€3,281 | -33.8% |
| Other tangible fixed assets | 26 | €1,028 | €516 | -€512 | -49.8% |
| Current assets | 29/58 | €33,745 | €21,162 | -€12,583 | -37.3% |
| Amounts receivable within one year | 40/41 | €27,944 | €14,702 | -€13,242 | -47.4% |
| Trade receivables | 40 | €11,702 | €10,484 | -€1,218 | -10.4% |
| Other amounts receivable | 41 | €16,242 | €4,218 | -€12,024 | -74.0% |
| Cash at bank and in hand | 54/58 | €4,030 | €5,302 | +€1,272 | +31.6% |
| Deferred charges and accrued income | 490/1 | €1,771 | €1,158 | -€613 | -34.6% |
| Total equity and liabilities | 10/49 | €44,480 | €32,259 | -€12,221 | -27.5% |
| Equity | 10/15 | €23,036 | €17,044 | -€5,992 | -26.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €18,036 | €12,044 | -€5,992 | -33.2% |
| Distributable reserves | 133 | €18,036 | €12,044 | -€5,992 | -33.2% |
| Amounts payable | 17/49 | €21,444 | €15,215 | -€6,229 | -29.0% |
| Amounts payable after more than one year | 17 | €966 | - | -€966 | |
| Financial debts | 170/4 | €966 | - | -€966 | |
| Amounts payable within one year | 42/48 | €20,478 | €15,215 | -€5,263 | -25.7% |
| Current portion of amounts payable after more than one year | 42 | €1,228 | €966 | -€262 | -21.3% |
| Trade debts | 44 | €6,967 | €1,130 | -€5,837 | -83.8% |
| Suppliers | 440/4 | €6,967 | €1,130 | -€5,837 | -83.8% |
| Taxes, remuneration and social security | 45 | €12,283 | €13,119 | +€836 | +6.8% |
| Taxes | 450/3 | €12,283 | €13,119 | +€836 | +6.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,330 | €4,303 | -€27 | -0.6% |
| Other operating charges | 640/8 | €1,756 | €929 | -€827 | -47.1% |
| Gross operating margin | 9900 | €12,808 | €11,994 | -€814 | -6.4% |
| Operating profit (loss) | 9901 | €6,722 | €6,762 | +€40 | +0.6% |
| Financial income | 75/76B | €791 | €777 | -€14 | -1.8% |
| Recurring financial income | 75 | €791 | €777 | -€14 | -1.8% |
| Financial charges | 65/66B | €645 | €506 | -€139 | -21.6% |
| Recurring financial charges | 65 | €645 | €506 | -€139 | -21.6% |
| Profit (loss) for the period before taxes | 9903 | €6,868 | €7,033 | +€165 | +2.4% |
| Income taxes | 67/77 | €2,401 | €3,025 | +€624 | +26.0% |
| Profit (loss) for the period | 9904 | €4,467 | €4,008 | -€459 | -10.3% |
| Profit (loss) for the period to be appropriated | 9905 | €4,467 | €4,008 | -€459 | -10.3% |
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 15 October 2026 via checked.be.