MA3TEC: 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.
MA3TEC
Largest movements
- Cash +€15,879
up €15,879 (+77.4%), from €20,527 to €36,406
mainly Net result for the year (+€58,751) and Other debts (+€11,857)
- Deferred charges and accrued income -€4,658
down €4,658 (-79.0%), from €5,896 to €1,238
- Debts after one year -€28,850
down €28,850 (-13.0%), from €222,030 to €193,180
- Reserves +€18,751
up €18,751 (+48.5%), from €38,679 to €57,430
- Other debts +€11,857
up €11,857 (+45.4%), from €26,099 to €37,956
- Trade debts +€11,096
up €11,096 (+512%), from €2,166 to €13,263
- Tax, wage and social debts -€6,342
down €6,342 (-28.2%), from €22,528 to €16,186
- Gross operating margin +€35,348
up €35,348 (+60.2%), from €58,692 to €94,040
- Financial charges +€12,548
up €12,548 (+1,049%), from €1,196 to €13,744
- Taxes +€2,751
up €2,751 (+16.4%), from €16,792 to €19,543
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 | €345,672 | €353,064 | +€7,392 | +2.1% |
| Fixed assets | 21/28 | €302,561 | €301,283 | -€1,279 | -0.4% |
| Tangible fixed assets | 22/27 | €4,440 | €3,161 | -€1,279 | -28.8% |
| Other tangible fixed assets | 26 | €4,440 | €3,161 | -€1,279 | -28.8% |
| Financial fixed assets | 28 | €298,122 | €298,122 | = | 0.0% |
| Current assets | 29/58 | €43,111 | €51,782 | +€8,671 | +20.1% |
| Amounts receivable after more than one year | 29 | €13,726 | €14,138 | +€412 | +3.0% |
| Other amounts receivable | 291 | €13,726 | €14,138 | +€412 | +3.0% |
| Amounts receivable within one year | 40/41 | €2,962 | €0 | -€2,962 | -100% |
| Trade receivables | 40 | €2,941 | €0 | -€2,941 | -100% |
| Other amounts receivable | 41 | €21 | €0 | -€21 | -100% |
| Cash at bank and in hand | 54/58 | €20,527 | €36,406 | +€15,879 | +77.4% |
| Deferred charges and accrued income | 490/1 | €5,896 | €1,238 | -€4,658 | -79.0% |
| Total equity and liabilities | 10/49 | €345,672 | €353,064 | +€7,392 | +2.1% |
| Equity | 10/15 | €44,879 | €63,630 | +€18,751 | +41.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €38,679 | €57,430 | +€18,751 | +48.5% |
| Distributable reserves | 133 | €38,679 | €57,430 | +€18,751 | +48.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €300,794 | €289,434 | -€11,359 | -3.8% |
| Amounts payable after more than one year | 17 | €222,030 | €193,180 | -€28,850 | -13.0% |
| Financial debts | 170/4 | €222,030 | €193,180 | -€28,850 | -13.0% |
| Amounts payable within one year | 42/48 | €78,763 | €96,254 | +€17,491 | +22.2% |
| Current portion of amounts payable after more than one year | 42 | €27,970 | €28,850 | +€880 | +3.1% |
| Trade debts | 44 | €2,166 | €13,263 | +€11,096 | +512% |
| Suppliers | 440/4 | €2,166 | €13,263 | +€11,096 | +512% |
| Taxes, remuneration and social security | 45 | €22,528 | €16,186 | -€6,342 | -28.2% |
| Taxes | 450/3 | €22,528 | €16,186 | -€6,342 | -28.2% |
| Other amounts payable | 47/48 | €26,099 | €37,956 | +€11,857 | +45.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,279 | €1,279 | +€0 | 0.0% |
| Other operating charges | 640/8 | €983 | €1,179 | +€195 | +19.9% |
| Gross operating margin | 9900 | €58,692 | €94,040 | +€35,348 | +60.2% |
| Operating profit (loss) | 9901 | €56,430 | €91,583 | +€35,152 | +62.3% |
| Financial income | 75/76B | €237 | €455 | +€219 | +92.3% |
| Recurring financial income | 75 | €237 | €455 | +€219 | +92.3% |
| Financial charges | 65/66B | €1,196 | €13,744 | +€12,548 | +1,049% |
| Recurring financial charges | 65 | €1,196 | €13,744 | +€12,548 | +1,049% |
| Profit (loss) for the period before taxes | 9903 | €55,471 | €78,294 | +€22,823 | +41.1% |
| Income taxes | 67/77 | €16,792 | €19,543 | +€2,751 | +16.4% |
| Profit (loss) for the period | 9904 | €38,679 | €58,751 | +€20,073 | +51.9% |
| Profit (loss) for the period to be appropriated | 9905 | €38,679 | €58,751 | +€20,073 | +51.9% |
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 25 October 2026 via checked.be.