XAVIER 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.
XAVIER MATHY
Largest movements
- Cash +€37,467
up €37,467 (+28.4%), from €131,970 to €169,436
mainly Net result for the year (+€203,538) and Other debts (+€51,069)
- Deferred charges and accrued income +€13,902
up €13,902 (+13.7%), from €101,122 to €115,024
- Tangible fixed assets -€10,096
down €10,096 (-32.6%), from €30,979 to €20,883
- Other debts +€51,069
up €51,069 (+33.7%), from €151,447 to €202,516
- Debts after one year -€10,834
down €10,834 (-85.7%), from €12,639 to €1,806
- Gross operating margin +€59,908
up €59,908 (+27.6%), from €216,849 to €276,758
- Taxes +€14,176
up €14,176 (+29.6%), from €47,917 to €62,092
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 | €264,070 | €305,343 | +€41,273 | +15.6% |
| Fixed assets | 21/28 | €30,979 | €20,883 | -€10,096 | -32.6% |
| Tangible fixed assets | 22/27 | €30,979 | €20,883 | -€10,096 | -32.6% |
| Furniture and vehicles | 24 | €30,979 | €20,883 | -€10,096 | -32.6% |
| Current assets | 29/58 | €233,092 | €284,460 | +€51,369 | +22.0% |
| Cash at bank and in hand | 54/58 | €131,970 | €169,436 | +€37,467 | +28.4% |
| Deferred charges and accrued income | 490/1 | €101,122 | €115,024 | +€13,902 | +13.7% |
| Total equity and liabilities | 10/49 | €264,070 | €305,343 | +€41,273 | +15.6% |
| Equity | 10/15 | €66,380 | €69,918 | +€3,538 | +5.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €61,000 | €64,000 | +€3,000 | +4.9% |
| Distributable reserves | 133 | €61,000 | €64,000 | +€3,000 | +4.9% |
| Profit (loss) carried forward | 14 | €380 | €918 | +€538 | +141.5% |
| Amounts payable | 17/49 | €197,690 | €235,425 | +€37,735 | +19.1% |
| Amounts payable after more than one year | 17 | €12,639 | €1,806 | -€10,834 | -85.7% |
| Financial debts | 170/4 | €12,639 | €1,806 | -€10,834 | -85.7% |
| Amounts payable within one year | 42/48 | €183,455 | €233,620 | +€50,165 | +27.3% |
| Current portion of amounts payable after more than one year | 42 | €10,834 | €10,834 | = | 0.0% |
| Trade debts | 44 | €2,257 | €1,317 | -€940 | -41.6% |
| Suppliers | 440/4 | €2,257 | €1,317 | -€940 | -41.6% |
| Taxes, remuneration and social security | 45 | €18,917 | €18,952 | +€36 | +0.2% |
| Taxes | 450/3 | €15,417 | €16,352 | +€936 | +6.1% |
| Remuneration and social security | 454/9 | €3,500 | €2,600 | -€900 | -25.7% |
| Other amounts payable | 47/48 | €151,447 | €202,516 | +€51,069 | +33.7% |
| Accrued charges and deferred income | 492/3 | €1,596 | - | -€1,596 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,096 | €10,096 | = | 0.0% |
| Other operating charges | 640/8 | €256 | €864 | +€608 | +237.5% |
| Gross operating margin | 9900 | €216,849 | €276,758 | +€59,908 | +27.6% |
| Operating profit (loss) | 9901 | €206,498 | €265,798 | +€59,301 | +28.7% |
| Financial charges | 65/66B | €1,293 | €168 | -€1,125 | -87.0% |
| Recurring financial charges | 65 | €1,293 | €168 | -€1,125 | -87.0% |
| Profit (loss) for the period before taxes | 9903 | €205,204 | €265,630 | +€60,426 | +29.4% |
| Income taxes | 67/77 | €47,917 | €62,092 | +€14,176 | +29.6% |
| Profit (loss) for the period | 9904 | €157,288 | €203,538 | +€46,250 | +29.4% |
| Profit (loss) for the period to be appropriated | 9905 | €157,288 | €203,538 | +€46,250 | +29.4% |
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 10 October 2026 via checked.be.