MITCH FABRY: 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.
MITCH FABRY
Largest movements
- Tangible fixed assets +€182,230
new in 2025: €182,230
- Receivables within one year +€9,731
up €9,731 (+28.1%), from €34,606 to €44,336
- Cash -€5,111
down €5,111 (-4.9%), from €103,940 to €98,829
mainly Investment in fixed assets (net) (-€187,600) and Receivables within one year (-€9,731)
- Debts after one year +€135,818
new in 2025: €135,818
- Trade debts +€23,235
up €23,235 (+227%), from €10,224 to €33,460
- Reserves +€12,634
up €12,634 (+13.4%), from €94,521 to €107,154
- Tax, wage and social debts +€10,676
up €10,676 (+41.8%), from €25,537 to €36,213
of which Taxes: +€6,100
- Current portion of long-term debt +€9,051
new in 2025: €9,051
- Gross operating margin -€93,143
down €93,143 (-76.7%), from €121,368 to €28,225
- Taxes -€20,261
down €20,261 (-79.3%), from €25,537 to €5,276
- Depreciation +€5,370
new in 2025: €5,370
- Financial charges +€1,736
up €1,736 (+161%), from €1,078 to €2,814
- Other operating charges +€1,545
up €1,545 (+263%), from €586 to €2,131
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 | €147,827 | €337,243 | +€189,416 | +128% |
| Fixed assets | 21/28 | - | €182,230 | +€182,230 | |
| Tangible fixed assets | 22/27 | - | €182,230 | +€182,230 | |
| Land and buildings | 22 | - | €182,230 | +€182,230 | |
| Current assets | 29/58 | €147,827 | €155,013 | +€7,186 | +4.9% |
| Amounts receivable within one year | 40/41 | €34,606 | €44,336 | +€9,731 | +28.1% |
| Trade receivables | 40 | €34,606 | €44,336 | +€9,731 | +28.1% |
| Cash at bank and in hand | 54/58 | €103,940 | €98,829 | -€5,111 | -4.9% |
| Deferred charges and accrued income | 490/1 | €9,281 | €11,847 | +€2,567 | +27.7% |
| Total equity and liabilities | 10/49 | €147,827 | €337,243 | +€189,416 | +128% |
| Equity | 10/15 | €96,521 | €109,154 | +€12,634 | +13.1% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €94,521 | €107,154 | +€12,634 | +13.4% |
| Distributable reserves | 133 | €94,521 | €107,154 | +€12,634 | +13.4% |
| Amounts payable | 17/49 | €51,306 | €228,088 | +€176,783 | +345% |
| Amounts payable after more than one year | 17 | - | €135,818 | +€135,818 | |
| Financial debts | 170/4 | - | €135,818 | +€135,818 | |
| Amounts payable within one year | 42/48 | €51,306 | €92,270 | +€40,964 | +79.8% |
| Current portion of amounts payable after more than one year | 42 | - | €9,051 | +€9,051 | |
| Trade debts | 44 | €10,224 | €33,460 | +€23,235 | +227% |
| Suppliers | 440/4 | €10,224 | €33,460 | +€23,235 | +227% |
| Advances received on contracts in progress | 46 | €14,183 | €12,454 | -€1,729 | -12.2% |
| Taxes, remuneration and social security | 45 | €25,537 | €36,213 | +€10,676 | +41.8% |
| Taxes | 450/3 | €25,537 | €31,637 | +€6,100 | +23.9% |
| Remuneration and social security | 454/9 | - | €4,576 | +€4,576 | |
| Other amounts payable | 47/48 | €1,361 | €1,093 | -€269 | -19.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €5,370 | +€5,370 | |
| Other operating charges | 640/8 | €586 | €2,131 | +€1,545 | +263% |
| Gross operating margin | 9900 | €121,368 | €28,225 | -€93,143 | -76.7% |
| Operating profit (loss) | 9901 | €120,782 | €20,724 | -€100,058 | -82.8% |
| Financial income | 75/76B | €354 | - | -€354 | |
| Recurring financial income | 75 | €354 | - | -€354 | |
| Financial charges | 65/66B | €1,078 | €2,814 | +€1,736 | +161% |
| Recurring financial charges | 65 | €1,078 | €2,814 | +€1,736 | +161% |
| Profit (loss) for the period before taxes | 9903 | €120,058 | €17,910 | -€102,148 | -85.1% |
| Income taxes | 67/77 | €25,537 | €5,276 | -€20,261 | -79.3% |
| Profit (loss) for the period | 9904 | €94,521 | €12,634 | -€81,887 | -86.6% |
| Profit (loss) for the period to be appropriated | 9905 | €94,521 | €12,634 | -€81,887 | -86.6% |
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 19 October 2026 via checked.be.