MATHIB: 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.
MATHIB
Largest movements
- Cash -€4,304
down €4,304 (-6.6%), from €65,520 to €61,215
mainly Investment in fixed assets (net) (-€16,177) and Debts after one year (-€10,628)
- Receivables within one year -€2,443
down €2,443 (-68.5%), from €3,569 to €1,126
of which Trade receivables: -€1,753
- Reserves +€13,500
up €13,500 (+28.7%), from €47,000 to €60,500
- Debts after one year -€10,628
no longer reported in 2025 (was €10,628)
- Other debts -€4,167
down €4,167 (-4.4%), from €95,481 to €91,314
- Trade debts -€4,016
down €4,016 (-69.5%), from €5,781 to €1,765
- Current portion of long-term debt -€2,897
down €2,897 (-17.9%), from €16,218 to €13,320
- Financial income -€15,627
down €15,627 (-96.9%), from €16,120 to €492
- Depreciation +€2,994
up €2,994 (+25.8%), from €11,628 to €14,623
- Taxes -€2,652
down €2,652 (-27.4%), from €9,674 to €7,022
- Gross operating margin -€2,310
down €2,310 (-5.9%), from €39,220 to €36,911
- Other operating charges -€630
down €630 (-29.7%), from €2,118 to €1,488
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 | €185,798 | €180,609 | -€5,189 | -2.8% |
| Fixed assets | 21/28 | €116,116 | €117,670 | +€1,554 | +1.3% |
| Tangible fixed assets | 22/27 | €21,116 | €22,670 | +€1,554 | +7.4% |
| Furniture and vehicles | 24 | €21,116 | €22,670 | +€1,554 | +7.4% |
| Financial fixed assets | 28 | €95,000 | €95,000 | = | 0.0% |
| Current assets | 29/58 | €69,682 | €62,940 | -€6,743 | -9.7% |
| Amounts receivable within one year | 40/41 | €3,569 | €1,126 | -€2,443 | -68.5% |
| Trade receivables | 40 | €1,753 | - | -€1,753 | |
| Other amounts receivable | 41 | €1,816 | €1,126 | -€690 | -38.0% |
| Cash at bank and in hand | 54/58 | €65,520 | €61,215 | -€4,304 | -6.6% |
| Deferred charges and accrued income | 490/1 | €594 | €598 | +€5 | +0.8% |
| Total equity and liabilities | 10/49 | €185,798 | €180,609 | -€5,189 | -2.8% |
| Equity | 10/15 | €56,064 | €69,879 | +€13,815 | +24.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €47,000 | €60,500 | +€13,500 | +28.7% |
| Distributable reserves | 133 | €47,000 | €60,500 | +€13,500 | +28.7% |
| Profit (loss) carried forward | 14 | €4,064 | €4,379 | +€315 | +7.8% |
| Amounts payable | 17/49 | €129,734 | €110,730 | -€19,004 | -14.6% |
| Amounts payable after more than one year | 17 | €10,628 | - | -€10,628 | |
| Financial debts | 170/4 | €10,628 | - | -€10,628 | |
| Amounts payable within one year | 42/48 | €119,106 | €110,730 | -€8,376 | -7.0% |
| Current portion of amounts payable after more than one year | 42 | €16,218 | €13,320 | -€2,897 | -17.9% |
| Trade debts | 44 | €5,781 | €1,765 | -€4,016 | -69.5% |
| Suppliers | 440/4 | €5,781 | €1,765 | -€4,016 | -69.5% |
| Taxes, remuneration and social security | 45 | €1,627 | €4,331 | +€2,704 | +166% |
| Taxes | 450/3 | €1,627 | €1,627 | = | 0.0% |
| Remuneration and social security | 454/9 | - | €2,704 | +€2,704 | |
| Other amounts payable | 47/48 | €95,481 | €91,314 | -€4,167 | -4.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,628 | €14,623 | +€2,994 | +25.8% |
| Other operating charges | 640/8 | €2,118 | €1,488 | -€630 | -29.7% |
| Gross operating margin | 9900 | €39,220 | €36,911 | -€2,310 | -5.9% |
| Operating profit (loss) | 9901 | €25,474 | €20,800 | -€4,674 | -18.3% |
| Financial income | 75/76B | €16,120 | €492 | -€15,627 | -96.9% |
| Recurring financial income | 75 | €16,120 | €492 | -€15,627 | -96.9% |
| Financial charges | 65/66B | €380 | €455 | +€75 | +19.7% |
| Recurring financial charges | 65 | €380 | €363 | -€17 | -4.4% |
| Non-recurring financial charges | 66B | - | €91 | +€91 | |
| Profit (loss) for the period before taxes | 9903 | €41,213 | €20,837 | -€20,376 | -49.4% |
| Income taxes | 67/77 | €9,674 | €7,022 | -€2,652 | -27.4% |
| Profit (loss) for the period | 9904 | €31,540 | €13,815 | -€17,724 | -56.2% |
| Profit (loss) for the period to be appropriated | 9905 | €31,540 | €13,815 | -€17,724 | -56.2% |
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 28 October 2026 via checked.be.