M@tis: 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.
M@tis
Largest movements
- Tangible fixed assets +€1.0m
up €1.0m (+17,796%), from €5,767 to €1.0m
of which Land and buildings: +€1.0m
- Cash -€319,815
down €319,815 (-92.4%), from €346,246 to €26,431
mainly Investment in fixed assets (net) (-€1.0m) and Net result for the year (-€74,729)
- Receivables within one year -€115,676
down €115,676 (-88.8%), from €130,323 to €14,647
of which Trade receivables: -€63,514
- Deferred charges and accrued income -€19,857
down €19,857 (-84.9%), from €23,393 to €3,537
- Other debts +€511,517
up €511,517 (+591%), from €86,501 to €598,019
- Contributions +€200,000
up €200,000 (+400%), from €50,000 to €250,000
- Reserves -€89,873
down €89,873 (-28.9%), from €310,856 to €220,983
of which Distributable reserves: -€82,253
- Profit (loss) carried forward -€67,109
down €67,109 (-331%), from -€20,286 to -€87,396
- Trade debts +€20,699
up €20,699 (+16,923%), from €122 to €20,821
- Gross operating margin -€345,040
down €345,040, from €294,885 to -€50,155
- Depreciation +€18,011
up €18,011 (+448%), from €4,022 to €22,032
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 | €505,729 | €1,076,699 | +€570,970 | +113% |
| Fixed assets | 21/28 | €5,767 | €1,032,084 | +€1.0m | +17,796% |
| Tangible fixed assets | 22/27 | €5,767 | €1,032,084 | +€1.0m | +17,796% |
| Land and buildings | 22 | €0 | €1,027,323 | +€1.0m | |
| Furniture and vehicles | 24 | €5,767 | €4,761 | -€1,006 | -17.4% |
| Current assets | 29/58 | €499,962 | €44,615 | -€455,347 | -91.1% |
| Amounts receivable within one year | 40/41 | €130,323 | €14,647 | -€115,676 | -88.8% |
| Trade receivables | 40 | €77,829 | €14,314 | -€63,514 | -81.6% |
| Other amounts receivable | 41 | €52,494 | €333 | -€52,162 | -99.4% |
| Cash at bank and in hand | 54/58 | €346,246 | €26,431 | -€319,815 | -92.4% |
| Deferred charges and accrued income | 490/1 | €23,393 | €3,537 | -€19,857 | -84.9% |
| Total equity and liabilities | 10/49 | €505,729 | €1,076,699 | +€570,970 | +113% |
| Equity | 10/15 | €340,569 | €383,587 | +€43,018 | +12.6% |
| Contributions | 10/11 | €50,000 | €250,000 | +€200,000 | +400% |
| Reserves | 13 | €310,856 | €220,983 | -€89,873 | -28.9% |
| Tax-exempt reserves | 132 | €228,603 | €220,983 | -€7,620 | -3.3% |
| Distributable reserves | 133 | €82,253 | €0 | -€82,253 | -100% |
| Profit (loss) carried forward | 14 | -€20,286 | -€87,396 | -€67,109 | -331% |
| Provisions and deferred taxes | 16 | €76,201 | €73,661 | -€2,540 | -3.3% |
| Deferred taxes | 168 | €76,201 | €73,661 | -€2,540 | -3.3% |
| Amounts payable | 17/49 | €88,959 | €619,451 | +€530,491 | +596% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €88,959 | €619,451 | +€530,491 | +596% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €67 | €611 | +€544 | +819% |
| Credit institutions | 430/8 | €67 | €611 | +€544 | +819% |
| Trade debts | 44 | €122 | €20,821 | +€20,699 | +16,923% |
| Suppliers | 440/4 | €122 | €20,821 | +€20,699 | +16,923% |
| Taxes, remuneration and social security | 45 | €2,269 | €0 | -€2,269 | -100% |
| Taxes | 450/3 | €899 | €0 | -€899 | -100% |
| Remuneration and social security | 454/9 | €1,370 | €0 | -€1,370 | -100% |
| Other amounts payable | 47/48 | €86,501 | €598,019 | +€511,517 | +591% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €325,965 | €0 | -€325,965 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,022 | €22,032 | +€18,011 | +448% |
| Other operating charges | 640/8 | €1,435 | €1,908 | +€473 | +33.0% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €294,885 | -€50,155 | -€345,040 | |
| Operating profit (loss) | 9901 | €289,428 | -€74,095 | -€363,524 | |
| Financial income | 75/76B | €1 | €158 | +€157 | +31,466% |
| Recurring financial income | 75 | €1 | €158 | +€157 | +31,466% |
| Financial charges | 65/66B | €4,911 | €3,332 | -€1,580 | -32.2% |
| Recurring financial charges | 65 | €4,911 | €3,332 | -€1,580 | -32.2% |
| Profit (loss) for the period before taxes | 9903 | €284,517 | -€77,269 | -€361,787 | |
| Transfer from deferred taxes | 780 | - | €2,540 | +€2,540 | |
| Transfer to deferred taxes | 680 | €76,201 | €0 | -€76,201 | -100% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | €208,316 | -€74,729 | -€283,046 | |
| Transfer from tax-exempt reserves | 789 | - | €7,620 | +€7,620 | |
| Transfer to tax-exempt reserves | 689 | €228,603 | €0 | -€228,603 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | -€20,286 | -€67,109 | -€46,823 | -231% |
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 26 October 2026 via checked.be.