Mattijs Van Tieghem: 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.
Mattijs Van Tieghem
Largest movements
- Cash +€118,278
up €118,278 (+65.6%), from €180,409 to €298,688
mainly Net result for the year (+€130,130) and Depreciation (+€9,081)
- Tangible fixed assets -€7,812
down €7,812 (-25.4%), from €30,699 to €22,887
of which Leasing and similar rights: -€8,430
- Reserves +€130,130
up €130,130 (+69.5%), from €187,161 to €317,291
- Tax, wage and social debts -€8,247
down €8,247 (-26.2%), from €31,452 to €23,205
- Current portion of long-term debt -€7,421
down €7,421 (-53.6%), from €13,849 to €6,428
- Debts after one year -€6,428
down €6,428 (-100%), from €6,428 to €0
- Gross operating margin +€15,781
up €15,781 (+9.6%), from €164,872 to €180,653
- Taxes +€4,771
up €4,771 (+14.1%), from €33,888 to €38,659
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 | €247,026 | €355,618 | +€108,591 | +44.0% |
| Fixed assets | 21/28 | €30,699 | €22,887 | -€7,812 | -25.4% |
| Tangible fixed assets | 22/27 | €30,699 | €22,887 | -€7,812 | -25.4% |
| Furniture and vehicles | 24 | €2,554 | €3,172 | +€618 | +24.2% |
| Leasing and similar rights | 25 | €28,145 | €19,715 | -€8,430 | -30.0% |
| Current assets | 29/58 | €216,327 | €332,731 | +€116,403 | +53.8% |
| Amounts receivable within one year | 40/41 | €13,709 | €14,824 | +€1,115 | +8.1% |
| Other amounts receivable | 41 | €13,709 | €14,824 | +€1,115 | +8.1% |
| Cash at bank and in hand | 54/58 | €180,409 | €298,688 | +€118,278 | +65.6% |
| Deferred charges and accrued income | 490/1 | €22,209 | €19,220 | -€2,990 | -13.5% |
| Total equity and liabilities | 10/49 | €247,026 | €355,618 | +€108,591 | +44.0% |
| Equity | 10/15 | €192,161 | €322,291 | +€130,130 | +67.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €187,161 | €317,291 | +€130,130 | +69.5% |
| Distributable reserves | 133 | €187,161 | €317,291 | +€130,130 | +69.5% |
| Amounts payable | 17/49 | €54,866 | €33,327 | -€21,539 | -39.3% |
| Amounts payable after more than one year | 17 | €6,428 | €0 | -€6,428 | -100% |
| Financial debts | 170/4 | €6,428 | €0 | -€6,428 | -100% |
| Amounts payable within one year | 42/48 | €48,437 | €33,327 | -€15,111 | -31.2% |
| Current portion of amounts payable after more than one year | 42 | €13,849 | €6,428 | -€7,421 | -53.6% |
| Trade debts | 44 | €3,136 | €3,693 | +€557 | +17.8% |
| Suppliers | 440/4 | €3,136 | €3,693 | +€557 | +17.8% |
| Taxes, remuneration and social security | 45 | €31,452 | €23,205 | -€8,247 | -26.2% |
| Taxes | 450/3 | €31,452 | €23,205 | -€8,247 | -26.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,959 | €9,081 | +€122 | +1.4% |
| Other operating charges | 640/8 | €3,455 | €3,467 | +€12 | +0.4% |
| Gross operating margin | 9900 | €164,872 | €180,653 | +€15,781 | +9.6% |
| Operating profit (loss) | 9901 | €152,458 | €168,104 | +€15,646 | +10.3% |
| Financial income | 75/76B | €1,030 | €1,267 | +€237 | +23.0% |
| Recurring financial income | 75 | €1,030 | €1,267 | +€237 | +23.0% |
| Financial charges | 65/66B | €1,111 | €581 | -€529 | -47.7% |
| Recurring financial charges | 65 | €1,111 | €581 | -€529 | -47.7% |
| Profit (loss) for the period before taxes | 9903 | €152,378 | €168,789 | +€16,412 | +10.8% |
| Income taxes | 67/77 | €33,888 | €38,659 | +€4,771 | +14.1% |
| Profit (loss) for the period | 9904 | €118,489 | €130,130 | +€11,641 | +9.8% |
| Profit (loss) for the period to be appropriated | 9905 | €118,489 | €130,130 | +€11,641 | +9.8% |
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 1 November 2026 via checked.be.