MATTI ALBRECHT: what changed
MATTI ALBRECHT
Largest movements
- Tangible fixed assets +€15,288
up €15,288 (+633%), from €2,416 to €17,704
of which Leasing and similar rights: +€17,185
- Receivables within one year +€13,244
up €13,244 (+43.6%), from €30,388 to €43,632
of which Trade receivables: +€13,008
- Cash +€10,684
up €10,684 (+144%), from €7,444 to €18,128
mainly Net result for the year (+€20,193) and Debts after one year (+€14,443)
- Deferred charges and accrued income +€1,764
up €1,764 (+98.5%), from €1,790 to €3,554
- Reserves +€20,193
up €20,193 (+121%), from €16,667 to €36,860
- Debts after one year +€14,443
new in 2025: €14,443
- Trade debts +€3,757
up €3,757 (+192%), from €1,957 to €5,714
- Current portion of long-term debt +€3,602
up €3,602, from €0 to €3,602
- Other debts -€1,449
down €1,449 (-10.0%), from €14,557 to €13,108
- Gross operating margin +€21,274
up €21,274 (+252%), from €8,429 to €29,703
- Financial income -€10,000
down €10,000 (-100%), from €10,000 to €0
- Taxes +€3,072
up €3,072 (+2,400%), from €128 to €3,200
- Depreciation -€2,325
down €2,325 (-33.3%), from €6,987 to €4,662
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 | €45,338 | €86,168 | +€40,830 | +90.1% |
| Fixed assets | 21/28 | €5,715 | €20,853 | +€15,138 | +265% |
| Intangible fixed assets | 21 | €799 | €649 | -€150 | -18.8% |
| Tangible fixed assets | 22/27 | €2,416 | €17,704 | +€15,288 | +633% |
| Plant, machinery and equipment | 23 | €381 | €0 | -€381 | -100% |
| Furniture and vehicles | 24 | €1,963 | €518 | -€1,445 | -73.6% |
| Leasing and similar rights | 25 | €0 | €17,185 | +€17,185 | |
| Other tangible fixed assets | 26 | €72 | €0 | -€72 | -100% |
| Financial fixed assets | 28 | €2,500 | €2,500 | = | 0.0% |
| Current assets | 29/58 | €39,622 | €65,315 | +€25,692 | +64.8% |
| Amounts receivable within one year | 40/41 | €30,388 | €43,632 | +€13,244 | +43.6% |
| Trade receivables | 40 | €14,520 | €27,528 | +€13,008 | +89.6% |
| Other amounts receivable | 41 | €15,868 | €16,105 | +€237 | +1.5% |
| Cash at bank and in hand | 54/58 | €7,444 | €18,128 | +€10,684 | +144% |
| Deferred charges and accrued income | 490/1 | €1,790 | €3,554 | +€1,764 | +98.5% |
| Total equity and liabilities | 10/49 | €45,338 | €86,168 | +€40,830 | +90.1% |
| Equity | 10/15 | €21,667 | €41,860 | +€20,193 | +93.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €16,667 | €36,860 | +€20,193 | +121% |
| Distributable reserves | 133 | €16,667 | €36,860 | +€20,193 | +121% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €23,671 | €44,308 | +€20,638 | +87.2% |
| Amounts payable after more than one year | 17 | - | €14,443 | +€14,443 | |
| Financial debts | 170/4 | - | €14,443 | +€14,443 | |
| Amounts payable within one year | 42/48 | €23,671 | €29,465 | +€5,795 | +24.5% |
| Current portion of amounts payable after more than one year | 42 | €0 | €3,602 | +€3,602 | |
| Trade debts | 44 | €1,957 | €5,714 | +€3,757 | +192% |
| Suppliers | 440/4 | €1,957 | €5,714 | +€3,757 | +192% |
| Taxes, remuneration and social security | 45 | €7,157 | €7,041 | -€115 | -1.6% |
| Taxes | 450/3 | €5,057 | €7,041 | +€1,985 | +39.3% |
| Remuneration and social security | 454/9 | €2,100 | €0 | -€2,100 | -100% |
| Other amounts payable | 47/48 | €14,557 | €13,108 | -€1,449 | -10.0% |
| Accrued charges and deferred income | 492/3 | - | €400 | +€400 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,987 | €4,662 | -€2,325 | -33.3% |
| Other operating charges | 640/8 | €630 | €720 | +€90 | +14.3% |
| Gross operating margin | 9900 | €8,429 | €29,703 | +€21,274 | +252% |
| Operating profit (loss) | 9901 | €811 | €24,320 | +€23,509 | +2,898% |
| Financial income | 75/76B | €10,000 | €0 | -€10,000 | -100% |
| Recurring financial income | 75 | €10,000 | €0 | -€10,000 | -100% |
| Financial charges | 65/66B | €828 | €928 | +€100 | +12.0% |
| Recurring financial charges | 65 | €828 | €928 | +€100 | +12.0% |
| Profit (loss) for the period before taxes | 9903 | €9,983 | €23,393 | +€13,409 | +134% |
| Income taxes | 67/77 | €128 | €3,200 | +€3,072 | +2,400% |
| Profit (loss) for the period | 9904 | €9,855 | €20,193 | +€10,337 | +105% |
| Profit (loss) for the period to be appropriated | 9905 | €9,855 | €20,193 | +€10,337 | +105% |
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 2 November 2026 via checked.be.