ROBERT MATHY: 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.
ROBERT MATHY
Largest movements
- Tangible fixed assets -€7,715
down €7,715 (-28.9%), from €26,719 to €19,004
of which Furniture and vehicles: -€5,852
- Receivables within one year -€6,786
down €6,786 (-66.2%), from €10,244 to €3,458
of which Trade receivables: -€8,914
- Stocks and contracts +€2,160
up €2,160 (+57.5%), from €3,758 to €5,918
- Cash -€1,947
down €1,947 (-15.6%), from €12,481 to €10,535
mainly Debts after one year (-€6,061) and Trade debts (-€4,121)
- Deferred charges and accrued income +€646
new in 2025: €646
- Debts after one year -€6,061
down €6,061 (-22.9%), from €26,491 to €20,430
- Trade debts -€4,121
down €4,121 (-74.0%), from €5,568 to €1,446
- Tax, wage and social debts -€1,646
down €1,646 (-86.6%), from €1,900 to €254
- Profit (loss) carried forward -€1,467
down €1,467 (-10.7%), from €13,729 to €12,262
- Taxes -€4,065
no longer reported in 2025 (was €4,065)
- Gross operating margin +€1,393
up €1,393 (+19.4%), from €7,190 to €8,583
- Depreciation +€575
up €575 (+8.1%), from €7,140 to €7,715
- Financial charges +€223
up €223 (+28.5%), from €782 to €1,005
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 | €53,202 | €39,561 | -€13,641 | -25.6% |
| Fixed assets | 21/28 | €26,719 | €19,004 | -€7,715 | -28.9% |
| Tangible fixed assets | 22/27 | €26,719 | €19,004 | -€7,715 | -28.9% |
| Plant, machinery and equipment | 23 | €2,928 | €1,064 | -€1,864 | -63.6% |
| Furniture and vehicles | 24 | €23,791 | €17,939 | -€5,852 | -24.6% |
| Current assets | 29/58 | €26,483 | €20,557 | -€5,926 | -22.4% |
| Stocks and contracts in progress | 3 | €3,758 | €5,918 | +€2,160 | +57.5% |
| Stocks | 30/36 | €3,758 | €5,918 | +€2,160 | +57.5% |
| Amounts receivable within one year | 40/41 | €10,244 | €3,458 | -€6,786 | -66.2% |
| Trade receivables | 40 | €10,244 | €1,330 | -€8,914 | -87.0% |
| Other amounts receivable | 41 | - | €2,128 | +€2,128 | |
| Cash at bank and in hand | 54/58 | €12,481 | €10,535 | -€1,947 | -15.6% |
| Deferred charges and accrued income | 490/1 | - | €646 | +€646 | |
| Total equity and liabilities | 10/49 | €53,202 | €39,561 | -€13,641 | -25.6% |
| Equity | 10/15 | €18,729 | €17,262 | -€1,467 | -7.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,729 | €12,262 | -€1,467 | -10.7% |
| Amounts payable | 17/49 | €34,474 | €22,299 | -€12,174 | -35.3% |
| Amounts payable after more than one year | 17 | €26,491 | €20,430 | -€6,061 | -22.9% |
| Financial debts | 170/4 | €26,491 | €20,430 | -€6,061 | -22.9% |
| Amounts payable within one year | 42/48 | €7,982 | €1,869 | -€6,113 | -76.6% |
| Trade debts | 44 | €5,568 | €1,446 | -€4,121 | -74.0% |
| Suppliers | 440/4 | €5,568 | €1,446 | -€4,121 | -74.0% |
| Taxes, remuneration and social security | 45 | €1,900 | €254 | -€1,646 | -86.6% |
| Taxes | 450/3 | €1,900 | €254 | -€1,646 | -86.6% |
| Other amounts payable | 47/48 | €514 | €169 | -€346 | -67.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,140 | €7,715 | +€575 | +8.1% |
| Other operating charges | 640/8 | €1,351 | €1,318 | -€33 | -2.5% |
| Gross operating margin | 9900 | €7,190 | €8,583 | +€1,393 | +19.4% |
| Operating profit (loss) | 9901 | -€1,302 | -€450 | +€851 | +65.4% |
| Financial income | 75/76B | €0 | €10 | +€9 | +2,997% |
| Recurring financial income | 75 | €0 | €10 | +€9 | +2,997% |
| Financial charges | 65/66B | €782 | €1,005 | +€223 | +28.5% |
| Recurring financial charges | 65 | €782 | €1,005 | +€223 | +28.5% |
| Profit (loss) for the period before taxes | 9903 | -€2,084 | -€1,446 | +€637 | +30.6% |
| Income taxes | 67/77 | €4,065 | - | -€4,065 | |
| Profit (loss) for the period | 9904 | -€6,149 | -€1,446 | +€4,703 | +76.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,149 | -€1,446 | +€4,703 | +76.5% |
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 17 October 2026 via checked.be.