MATTHYS SWINNEN: what changed
MATTHYS SWINNEN
Largest movements
- Cash -€67,262
down €67,262 (-96.5%), from €69,668 to €2,406
mainly Other debts (-€44,075) and Net result for the year (-€41,788)
- Tangible fixed assets -€26,851
down €26,851 (-8.1%), from €329,980 to €303,128
of which Land and buildings: -€14,905
- Receivables within one year -€13,897
down €13,897 (-46.8%), from €29,692 to €15,796
of which Trade receivables: -€7,835
- Other debts -€44,075
down €44,075 (-28.2%), from €156,438 to €112,364
- Profit (loss) carried forward -€41,788
down €41,788 (-606%), from -€6,894 to -€48,682
- Debts after one year -€14,198
down €14,198 (-10.3%), from €138,116 to €123,918
- Trade debts -€8,356
down €8,356 (-53.9%), from €15,502 to €7,146
- Gross operating margin -€55,070
down €55,070, from €52,453 to -€2,617
- Staff costs -€19,860
down €19,860 (-95.0%), from €20,912 to €1,052
- Depreciation -€12,783
down €12,783 (-32.1%), from €39,835 to €27,052
- Financial charges -€3,053
down €3,053 (-25.2%), from €12,113 to €9,060
of which Financial charges: -€3,176
- Taxes +€1,395
new in 2025: €1,395
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €429,889 | €321,679 | -€108,210 | -25.2% |
| Formation expenses | 20 | €549 | €349 | -€200 | -36.4% |
| Fixed assets | 21/28 | €329,980 | €303,128 | -€26,851 | -8.1% |
| Tangible fixed assets | 22/27 | €329,980 | €303,128 | -€26,851 | -8.1% |
| Land and buildings | 22 | €285,816 | €270,911 | -€14,905 | -5.2% |
| Furniture and vehicles | 24 | €44,163 | €32,217 | -€11,947 | -27.1% |
| Current assets | 29/58 | €99,360 | €18,202 | -€81,158 | -81.7% |
| Amounts receivable within one year | 40/41 | €29,692 | €15,796 | -€13,897 | -46.8% |
| Trade receivables | 40 | €16,494 | €8,659 | -€7,835 | -47.5% |
| Other amounts receivable | 41 | €13,199 | €7,137 | -€6,062 | -45.9% |
| Cash at bank and in hand | 54/58 | €69,668 | €2,406 | -€67,262 | -96.5% |
| Total equity and liabilities | 10/49 | €429,889 | €321,679 | -€108,210 | -25.2% |
| Equity | 10/15 | €100,851 | €59,063 | -€41,788 | -41.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €89,145 | €89,145 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €87,285 | €87,285 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,894 | -€48,682 | -€41,788 | -606% |
| Amounts payable | 17/49 | €329,038 | €262,616 | -€66,422 | -20.2% |
| Amounts payable after more than one year | 17 | €138,116 | €123,918 | -€14,198 | -10.3% |
| Financial debts | 170/4 | €138,116 | €123,918 | -€14,198 | -10.3% |
| Amounts payable within one year | 42/48 | €188,195 | €136,351 | -€51,844 | -27.5% |
| Current portion of amounts payable after more than one year | 42 | €16,079 | €13,124 | -€2,955 | -18.4% |
| Trade debts | 44 | €15,502 | €7,146 | -€8,356 | -53.9% |
| Suppliers | 440/4 | €15,502 | €7,146 | -€8,356 | -53.9% |
| Advances received on contracts in progress | 46 | - | €3,673 | +€3,673 | |
| Taxes, remuneration and social security | 45 | €176 | €45 | -€131 | -74.2% |
| Remuneration and social security | 454/9 | €176 | €45 | -€131 | -74.2% |
| Other amounts payable | 47/48 | €156,438 | €112,364 | -€44,075 | -28.2% |
| Accrued charges and deferred income | 492/3 | €2,727 | €2,346 | -€381 | -14.0% |
| Remuneration, social security and pensions | 62 | €20,912 | €1,052 | -€19,860 | -95.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,835 | €27,052 | -€12,783 | -32.1% |
| Other operating charges | 640/8 | €1,282 | €619 | -€663 | -51.7% |
| Gross operating margin | 9900 | €52,453 | -€2,617 | -€55,070 | |
| Operating profit (loss) | 9901 | -€9,576 | -€31,340 | -€21,763 | -227% |
| Financial income | 75/76B | €449 | €7 | -€442 | -98.5% |
| Recurring financial income | 75 | €449 | €7 | -€442 | -98.5% |
| Financial charges | 65/66B | €12,113 | €9,060 | -€3,053 | -25.2% |
| Recurring financial charges | 65 | €12,113 | €8,937 | -€3,176 | -26.2% |
| Non-recurring financial charges | 66B | - | €123 | +€123 | |
| Profit (loss) for the period before taxes | 9903 | -€21,240 | -€40,393 | -€19,152 | -90.2% |
| Income taxes | 67/77 | - | €1,395 | +€1,395 | |
| Profit (loss) for the period | 9904 | -€21,240 | -€41,788 | -€20,547 | -96.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€21,240 | -€41,788 | -€20,547 | -96.7% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.