B.D. MAT: 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.
B.D. MAT
Largest movements
- Tangible fixed assets +€77,686
up €77,686 (+165.1%), from €47,058 to €124,744
of which Furniture and vehicles: +€51,736
- Receivables within one year +€14,426
up €14,426 (+48.9%), from €29,525 to €43,951
of which Other amounts receivable: +€17,468
- Debts after one year +€29,807
new in 2025: €29,807
- Reserves +€26,940
up €26,940 (+36.8%), from €73,300 to €100,240
- Current portion of long-term debt +€11,637
new in 2025: €11,637
- Trade debts +€9,844
up €9,844 (+813.7%), from €1,210 to €11,054
- Other debts +€6,650
new in 2025: €6,650
- Turnover +€87,107
up €87,107 (+41.2%), from €211,280 to €298,387
- Purchases and services +€67,360
up €67,360 (+45.1%), from €149,506 to €216,866
- Gross operating margin +€19,747
up €19,747 (+32.0%), from €61,773 to €81,521
- Depreciation +€14,386
up €14,386 (+206.9%), from €6,952 to €21,338
- Staff costs +€9,303
up €9,303 (+352.3%), from €2,641 to €11,944
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 | €96,721 | €185,673 | +€88,952 | +92.0% |
| Fixed assets | 21/28 | €47,058 | €124,744 | +€77,686 | +165.1% |
| Tangible fixed assets | 22/27 | €47,058 | €124,744 | +€77,686 | +165.1% |
| Land and buildings | 22 | €3,523 | €5,402 | +€1,879 | +53.3% |
| Plant, machinery and equipment | 23 | €4,821 | €28,892 | +€24,071 | +499.3% |
| Furniture and vehicles | 24 | €38,714 | €90,450 | +€51,736 | +133.6% |
| Current assets | 29/58 | €49,663 | €60,928 | +€11,265 | +22.7% |
| Stocks and contracts in progress | 3 | €4,789 | €3,566 | -€1,223 | -25.5% |
| Stocks | 30/36 | €2,192 | €1,953 | -€239 | -10.9% |
| Contracts in progress | 37 | €2,597 | €1,613 | -€984 | -37.9% |
| Amounts receivable within one year | 40/41 | €29,525 | €43,951 | +€14,426 | +48.9% |
| Trade receivables | 40 | €3,455 | €412 | -€3,042 | -88.1% |
| Other amounts receivable | 41 | €26,070 | €43,538 | +€17,468 | +67.0% |
| Cash at bank and in hand | 54/58 | €13,402 | €11,702 | -€1,699 | -12.7% |
| Deferred charges and accrued income | 490/1 | €1,947 | €1,709 | -€238 | -12.2% |
| Total equity and liabilities | 10/49 | €96,721 | €185,673 | +€88,952 | +92.0% |
| Equity | 10/15 | €91,397 | €118,341 | +€26,944 | +29.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €73,300 | €100,240 | +€26,940 | +36.8% |
| Distributable reserves | 133 | €73,300 | €100,240 | +€26,940 | +36.8% |
| Profit (loss) carried forward | 14 | -€503 | -€499 | +€4 | +0.8% |
| Amounts payable | 17/49 | €5,324 | €67,332 | +€62,008 | +1164.7% |
| Amounts payable after more than one year | 17 | - | €29,807 | +€29,807 | |
| Financial debts | 170/4 | - | €29,807 | +€29,807 | |
| Amounts payable within one year | 42/48 | €5,324 | €37,525 | +€32,201 | +604.8% |
| Current portion of amounts payable after more than one year | 42 | - | €11,637 | +€11,637 | |
| Trade debts | 44 | €1,210 | €11,054 | +€9,844 | +813.7% |
| Suppliers | 440/4 | €1,210 | €11,054 | +€9,844 | +813.7% |
| Taxes, remuneration and social security | 45 | €4,114 | €8,184 | +€4,070 | +98.9% |
| Taxes | 450/3 | €3,410 | €8,108 | +€4,698 | +137.8% |
| Remuneration and social security | 454/9 | €704 | €76 | -€628 | -89.2% |
| Other amounts payable | 47/48 | - | €6,650 | +€6,650 | |
| Turnover | 70 | €211,280 | €298,387 | +€87,107 | +41.2% |
| Goods, raw materials, services and sundry goods | 60/61 | €149,506 | €216,866 | +€67,360 | +45.1% |
| Remuneration, social security and pensions | 62 | €2,641 | €11,944 | +€9,303 | +352.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,952 | €21,338 | +€14,386 | +206.9% |
| Other operating charges | 640/8 | €314 | €775 | +€461 | +146.9% |
| Non-recurring operating charges | 66A | €26,208 | €648 | -€25,559 | -97.5% |
| Gross operating margin | 9900 | €61,773 | €81,521 | +€19,747 | +32.0% |
| Operating profit (loss) | 9901 | €25,659 | €46,816 | +€21,157 | +82.5% |
| Financial income | 75/76B | €24 | €1,455 | +€1,431 | +5930.8% |
| Recurring financial income | 75 | €24 | €1,455 | +€1,431 | +5930.8% |
| Financial charges | 65/66B | €3 | €1,135 | +€1,132 | +37602.0% |
| Recurring financial charges | 65 | €3 | €1,135 | +€1,132 | +37602.0% |
| Profit (loss) for the period before taxes | 9903 | €25,680 | €47,136 | +€21,456 | +83.6% |
| Income taxes | 67/77 | €7,363 | €13,193 | +€5,829 | +79.2% |
| Profit (loss) for the period | 9904 | €18,317 | €33,944 | +€15,627 | +85.3% |
| Profit (loss) for the period to be appropriated | 9905 | €18,317 | €33,944 | +€15,627 | +85.3% |
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 5 October 2026 via checked.be.