TOMAS MORTIER: 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.
TOMAS MORTIER
Largest movements
- Tangible fixed assets -€13,308
down €13,308 (-3.6%), from €366,569 to €353,261
of which Furniture and vehicles: -€7,584
- Current investments +€11,249
up €11,249 (+25.5%), from €44,055 to €55,303
- Reserves +€22,077
up €22,077 (+7.9%), from €280,378 to €302,455
of which Distributable reserves: +€24,364
- Other debts -€14,564
down €14,564 (-94.4%), from €15,432 to €868
- Tax, wage and social debts -€7,008
down €7,008 (-39.2%), from €17,861 to €10,852
- Debts after one year -€5,099
no longer reported in 2025 (was €5,099)
- Gross operating margin -€31,462
down €31,462 (-31.7%), from €99,390 to €67,928
- Taxes -€9,035
down €9,035 (-36.1%), from €25,040 to €16,005
- Financial charges -€2,301
down €2,301 (-83.4%), from €2,761 to €459
of which Financial charges: -€2,031
- Depreciation +€1,279
up €1,279 (+7.8%), from €16,363 to €17,642
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 | €420,914 | €418,163 | -€2,751 | -0.7% |
| Fixed assets | 21/28 | €366,618 | €353,310 | -€13,308 | -3.6% |
| Tangible fixed assets | 22/27 | €366,569 | €353,261 | -€13,308 | -3.6% |
| Land and buildings | 22 | €331,362 | €328,785 | -€2,577 | -0.8% |
| Plant, machinery and equipment | 23 | €19,287 | €16,140 | -€3,147 | -16.3% |
| Furniture and vehicles | 24 | €15,920 | €8,336 | -€7,584 | -47.6% |
| Financial fixed assets | 28 | €49 | €49 | = | 0.0% |
| Current assets | 29/58 | €54,296 | €64,852 | +€10,557 | +19.4% |
| Amounts receivable within one year | 40/41 | €3,276 | €2,859 | -€418 | -12.8% |
| Trade receivables | 40 | €500 | - | -€500 | |
| Other amounts receivable | 41 | €2,776 | €2,859 | +€82 | +3.0% |
| Current investments | 50/53 | €44,055 | €55,303 | +€11,249 | +25.5% |
| Cash at bank and in hand | 54/58 | €5,450 | €6,176 | +€726 | +13.3% |
| Deferred charges and accrued income | 490/1 | €1,515 | €514 | -€1,001 | -66.0% |
| Total equity and liabilities | 10/49 | €420,914 | €418,163 | -€2,751 | -0.7% |
| Equity | 10/15 | €355,378 | €377,455 | +€22,077 | +6.2% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €280,378 | €302,455 | +€22,077 | +7.9% |
| Tax-exempt reserves | 132 | €31,117 | €28,830 | -€2,287 | -7.3% |
| Distributable reserves | 133 | €249,262 | €273,625 | +€24,364 | +9.8% |
| Provisions and deferred taxes | 16 | €5,930 | €4,752 | -€1,178 | -19.9% |
| Deferred taxes | 168 | €5,930 | €4,752 | -€1,178 | -19.9% |
| Amounts payable | 17/49 | €59,605 | €35,955 | -€23,650 | -39.7% |
| Amounts payable after more than one year | 17 | €5,099 | - | -€5,099 | |
| Financial debts | 170/4 | €5,099 | - | -€5,099 | |
| Amounts payable within one year | 42/48 | €52,720 | €35,055 | -€17,664 | -33.5% |
| Current portion of amounts payable after more than one year | 42 | €5,049 | €5,099 | +€50 | +1.0% |
| Financial debts | 43 | €4,220 | €4,010 | -€210 | -5.0% |
| Credit institutions | 430/8 | €4,220 | €4,010 | -€210 | -5.0% |
| Trade debts | 44 | €10,158 | €14,226 | +€4,067 | +40.0% |
| Suppliers | 440/4 | €10,158 | €14,226 | +€4,067 | +40.0% |
| Taxes, remuneration and social security | 45 | €17,861 | €10,852 | -€7,008 | -39.2% |
| Taxes | 450/3 | €17,861 | €10,852 | -€7,008 | -39.2% |
| Other amounts payable | 47/48 | €15,432 | €868 | -€14,564 | -94.4% |
| Accrued charges and deferred income | 492/3 | €1,787 | €900 | -€887 | -49.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,363 | €17,642 | +€1,279 | +7.8% |
| Other operating charges | 640/8 | €3,922 | €2,974 | -€948 | -24.2% |
| Gross operating margin | 9900 | €99,390 | €67,928 | -€31,462 | -31.7% |
| Operating profit (loss) | 9901 | €79,105 | €47,312 | -€31,794 | -40.2% |
| Financial income | 75/76B | €137 | €711 | +€574 | +420% |
| Recurring financial income | 75 | €137 | €711 | +€574 | +420% |
| Financial charges | 65/66B | €2,761 | €459 | -€2,301 | -83.4% |
| Recurring financial charges | 65 | €2,491 | €459 | -€2,031 | -81.6% |
| Non-recurring financial charges | 66B | €270 | - | -€270 | |
| Profit (loss) for the period before taxes | 9903 | €76,481 | €47,563 | -€28,918 | -37.8% |
| Transfer from deferred taxes | 780 | €1,178 | €1,178 | = | 0.0% |
| Income taxes | 67/77 | €25,040 | €16,005 | -€9,035 | -36.1% |
| Profit (loss) for the period | 9904 | €52,619 | €32,736 | -€19,883 | -37.8% |
| Transfer from tax-exempt reserves | 789 | €2,287 | €2,287 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €54,906 | €35,023 | -€19,883 | -36.2% |
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 15 October 2026 via checked.be.