PSY V.MATHIEU: what changed
Two fiscal 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.
PSY V.MATHIEU
Largest movements
- Cash +€21,604
up €21,604 (+7.2%), from €299,915 to €321,519
mainly Net result for the year (+€72,899) and Depreciation (+€8,520)
- Receivables within one year +€7,984
up €7,984 (+25.7%), from €31,025 to €39,009
of which Trade receivables: +€7,984
- Reserves +€32,000
up €32,000 (+12.6%), from €254,698 to €286,698
of which Distributable reserves: +€32,000
- Debts after one year -€8,275
down €8,275 (-6.5%), from €126,451 to €118,177
- Depreciation -€23,794
down €23,794 (-73.6%), from €32,314 to €8,520
- Taxes +€12,041
up €12,041 (+78.1%), from €15,408 to €27,449
- Gross operating margin +€8,895
up €8,895 (+8.5%), from €105,093 to €113,988
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.
Cash bridge derived
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 | €517,936 | €538,854 | +€20,918 | +4.0% |
| Fixed assets | 21/28 | €178,586 | €171,557 | -€7,029 | -3.9% |
| Tangible fixed assets | 22/27 | €175,945 | €170,776 | -€5,169 | -2.9% |
| Land and buildings | 22 | €174,859 | €169,180 | -€5,679 | -3.2% |
| Furniture and vehicles | 24 | €1,086 | €1,596 | +€510 | +47.0% |
| Financial fixed assets | 28 | €2,641 | €781 | -€1,860 | -70.4% |
| Current assets | 29/58 | €339,350 | €367,297 | +€27,947 | +8.2% |
| Amounts receivable within one year | 40/41 | €31,025 | €39,009 | +€7,984 | +25.7% |
| Trade receivables | 40 | €438 | €8,422 | +€7,984 | +1822.7% |
| Other amounts receivable | 41 | €30,587 | €30,587 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €299,915 | €321,519 | +€21,604 | +7.2% |
| Deferred charges and accrued income | 490/1 | €8,410 | €6,769 | -€1,641 | -19.5% |
| Total equity and liabilities | 10/49 | €517,936 | €538,854 | +€20,918 | +4.0% |
| Equity | 10/15 | €332,524 | €367,423 | +€34,899 | +10.5% |
| Contributions | 10/11 | €14,260 | €14,260 | = | 0.0% |
| Reserves | 13 | €254,698 | €286,698 | +€32,000 | +12.6% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €254,698 | €286,698 | +€32,000 | +12.6% |
| Profit (loss) carried forward | 14 | €63,566 | €66,465 | +€2,899 | +4.6% |
| Amounts payable | 17/49 | €185,412 | €171,431 | -€13,981 | -7.5% |
| Amounts payable after more than one year | 17 | €126,451 | €118,177 | -€8,275 | -6.5% |
| Financial debts | 170/4 | €126,451 | €118,177 | -€8,275 | -6.5% |
| Amounts payable within one year | 42/48 | €57,865 | €53,255 | -€4,610 | -8.0% |
| Current portion of amounts payable after more than one year | 42 | €7,978 | €8,951 | +€972 | +12.2% |
| Trade debts | 44 | €7,500 | €3,666 | -€3,834 | -51.1% |
| Suppliers | 440/4 | €7,500 | €3,666 | -€3,834 | -51.1% |
| Taxes, remuneration and social security | 45 | €11,813 | €9,349 | -€2,465 | -20.9% |
| Taxes | 450/3 | €9,447 | €9,349 | -€98 | -1.0% |
| Remuneration and social security | 454/9 | €2,366 | €0 | -€2,366 | -100.0% |
| Other amounts payable | 47/48 | €30,574 | €31,290 | +€716 | +2.3% |
| Accrued charges and deferred income | 492/3 | €1,096 | €0 | -€1,096 | -100.0% |
| Non-recurring operating income | 76A | - | €5,000 | +€5,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,314 | €8,520 | -€23,794 | -73.6% |
| Other operating charges | 640/8 | €1,111 | €1,471 | +€360 | +32.5% |
| Gross operating margin | 9900 | €105,093 | €113,988 | +€8,895 | +8.5% |
| Operating profit (loss) | 9901 | €71,668 | €103,996 | +€32,328 | +45.1% |
| Financial income | 75/76B | €2,659 | €2,063 | -€596 | -22.4% |
| Recurring financial income | 75 | €2,659 | €2,063 | -€596 | -22.4% |
| Financial charges | 65/66B | €6,223 | €5,712 | -€511 | -8.2% |
| Recurring financial charges | 65 | €6,223 | €5,712 | -€511 | -8.2% |
| Profit (loss) for the period before taxes | 9903 | €68,104 | €100,347 | +€32,243 | +47.3% |
| Income taxes | 67/77 | €15,408 | €27,449 | +€12,041 | +78.1% |
| Profit (loss) for the period | 9904 | €52,696 | €72,899 | +€20,202 | +38.3% |
| Profit (loss) for the period to be appropriated | 9905 | €52,696 | €72,899 | +€20,202 | +38.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.