MARTIN MATHYS: 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.
What changed
MARTIN MATHYS
NACE 20.300, Manufacture of chemicals and chemical products
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€1.4m
2024 · €2.1m-€671,294
Equity
€17.8m
2024 · €16.3m+€1.4m
Cash
€13,909
2024 · €20,789-€6,879
Balance sheet total
€33.5m
2024 · €27.0m+€6.5m
Largest movements
Assets
- Stocks and contracts +€4.4m
up €4.4m (+34.5%), from €12.8m to €17.2m
- Receivables within one year +€1.6m
up €1.6m (+16.5%), from €10.0m to €11.7m
of which Trade receivables: +€1.4m
- Tangible fixed assets +€641,023
up €641,023 (+22.0%), from €2.9m to €3.6m
of which Plant, machinery and equipment: +€448,741
Equity and liabilities
- Trade debts +€5.9m
up €5.9m (+89.8%), from €6.6m to €12.5m
- Reserves +€1.4m
up €1.4m (+20.7%), from €7.0m to €8.4m
of which Distributable reserves: +€1.4m
- Other debts -€601,733
down €601,733 (-78.7%), from €764,899 to €163,166
Income statement
- Turnover +€6.1m
up €6.1m (+12.1%), from €50.4m to €56.5m
- Goods and materials +€5.5m
up €5.5m (+24.9%), from €22.1m to €27.7m
of which Purchases: +€10.5m
- Services and other goods +€2.5m
up €2.5m (+17.5%), from €14.4m to €16.9m
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.
Result 2024
€2.1m
Turnover
+€6.1m
Other operating income
-€48,007
Goods and materials
-€5.5m
Services and other goods
-€2.5m
Staff costs
-€149,671
Depreciation
+€11,682
Write-downs
-€201,232
Provisions
+€94,982
Other operating charges
-€4,439
Other operating items
+€1.6m
Financial income
-€192,561
Financial charges
-€22,495
Taxes
+€206,585
Result 2025
€1.4m
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.
From operations
+€1.1m
Investment
-€1.1m
Financing
€0
Cash 2024
€20,789
From operations (derived)
+€1.1m
Net result for the year
+€1.4m
Depreciation
+€422,728
Stocks and contracts
-€4.4m
Receivables within one year
-€1.6m
Deferred charges and accrued income
+€204,249
Provisions
-€63,745
Trade debts
+€5.9m
Tax, wage and social debts
-€212,492
Other debts
-€601,733
Accrued charges and deferred income
+€29,815
Investment (derived)
-€1.1m
Investment in fixed assets (net)
-€1.1m
Cash 2025
€13,909
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €26,951,898 | €33,453,931 | +€6.5m | +24.1% |
| Fixed assets | 21/28 | €2,910,021 | €3,551,044 | +€641,023 | +22.0% |
| Tangible fixed assets | 22/27 | €2,910,021 | €3,551,044 | +€641,023 | +22.0% |
| Land and buildings | 22 | €1,274,045 | €1,499,757 | +€225,711 | +17.7% |
| Plant, machinery and equipment | 23 | €1,550,342 | €1,999,083 | +€448,741 | +28.9% |
| Furniture and vehicles | 24 | €85,634 | €52,204 | -€33,430 | -39.0% |
| Current assets | 29/58 | €24,041,877 | €29,902,888 | +€5.9m | +24.4% |
| Stocks and contracts in progress | 3 | €12,803,016 | €17,226,297 | +€4.4m | +34.5% |
| Stocks | 30/36 | €12,803,016 | €17,226,297 | +€4.4m | +34.5% |
| Raw materials and consumables | 30/31 | €4,906,443 | €8,575,624 | +€3.7m | +74.8% |
| Finished goods | 33 | €6,511,390 | €7,135,533 | +€624,142 | +9.6% |
| Goods purchased for resale | 34 | €1,385,183 | €1,515,140 | +€129,957 | +9.4% |
| Amounts receivable within one year | 40/41 | €10,007,843 | €11,656,700 | +€1.6m | +16.5% |
| Trade receivables | 40 | €9,736,579 | €11,153,349 | +€1.4m | +14.6% |
| Other amounts receivable | 41 | €271,264 | €503,352 | +€232,088 | +85.6% |
| Cash at bank and in hand | 54/58 | €20,789 | €13,909 | -€6,879 | -33.1% |
| Deferred charges and accrued income | 490/1 | €1,210,230 | €1,005,981 | -€204,249 | -16.9% |
| Total equity and liabilities | 10/49 | €26,951,898 | €33,453,931 | +€6.5m | +24.1% |
| Equity | 10/15 | €16,330,711 | €17,774,940 | +€1.4m | +8.8% |
| Contributions | 10/11 | €9,362,000 | €9,362,000 | = | 0.0% |
| Capital | 10 | €9,362,000 | €9,362,000 | = | 0.0% |
| Issued capital | 100 | €9,362,000 | €9,362,000 | = | 0.0% |
| Reserves | 13 | €6,968,711 | €8,412,940 | +€1.4m | +20.7% |
| Non-distributable reserves | 130/1 | €936,200 | €936,200 | = | 0.0% |
| Legal reserve | 130 | €936,200 | €936,200 | = | 0.0% |
| Distributable reserves | 133 | €6,032,511 | €7,476,740 | +€1.4m | +23.9% |
| Provisions and deferred taxes | 16 | €63,745 | - | -€63,745 | |
| Provisions for liabilities and charges | 160/5 | €63,745 | - | -€63,745 | |
| Other liabilities and charges | 164/5 | €63,745 | - | -€63,745 | |
| Amounts payable | 17/49 | €10,557,442 | €15,678,991 | +€5.1m | +48.5% |
| Amounts payable within one year | 42/48 | €10,081,146 | €15,172,880 | +€5.1m | +50.5% |
| Trade debts | 44 | €6,573,344 | €12,479,303 | +€5.9m | +89.8% |
| Suppliers | 440/4 | €6,573,344 | €12,479,303 | +€5.9m | +89.8% |
| Taxes, remuneration and social security | 45 | €2,742,902 | €2,530,410 | -€212,492 | -7.7% |
| Taxes | 450/3 | €168,840 | €116,954 | -€51,886 | -30.7% |
| Remuneration and social security | 454/9 | €2,574,063 | €2,413,457 | -€160,606 | -6.2% |
| Other amounts payable | 47/48 | €764,899 | €163,166 | -€601,733 | -78.7% |
| Accrued charges and deferred income | 492/3 | €476,297 | €506,112 | +€29,815 | +6.3% |
| Operating income | 70/76A | €52,945,230 | €60,557,990 | +€7.6m | +14.4% |
| Turnover | 70 | €50,432,696 | €56,533,869 | +€6.1m | +12.1% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€904,785 | €654,809 | +€1.6m | |
| Other operating income | 74 | €3,417,319 | €3,369,312 | -€48,007 | -1.4% |
| Operating charges | 60/66A | €49,663,441 | €57,939,024 | +€8.3m | +16.7% |
| Goods for resale, raw materials and consumables | 60 | €22,147,210 | €27,666,190 | +€5.5m | +24.9% |
| Purchases | 600/8 | €21,062,753 | €31,541,979 | +€10.5m | +49.8% |
| Change in stocks: decrease (increase) | 609 | €1,084,458 | -€3,875,789 | -€5.0m | |
| Services and other goods | 61 | €14,372,354 | €16,880,473 | +€2.5m | +17.5% |
| Remuneration, social security and pensions | 62 | €12,701,243 | €12,850,914 | +€149,671 | +1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €434,410 | €422,728 | -€11,682 | -2.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€133,106 | €68,125 | +€201,232 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €31,237 | -€63,745 | -€94,982 | |
| Other operating charges | 640/8 | €105,256 | €109,694 | +€4,439 | +4.2% |
| Non-recurring operating charges | 66A | €4,836 | €4,644 | -€192 | -4.0% |
| Operating profit (loss) | 9901 | €3,281,789 | €2,618,966 | -€662,823 | -20.2% |
| Financial income | 75/76B | €234,318 | €41,757 | -€192,561 | -82.2% |
| Recurring financial income | 75 | €234,318 | €41,757 | -€192,561 | -82.2% |
| Income from current assets | 751 | €213,910 | €4,793 | -€209,118 | -97.8% |
| Other financial income | 752/9 | €20,408 | €36,964 | +€16,557 | +81.1% |
| Financial charges | 65/66B | €596,905 | €619,400 | +€22,495 | +3.8% |
| Recurring financial charges | 65 | €596,905 | €619,400 | +€22,495 | +3.8% |
| Debt charges | 650 | - | €49,238 | +€49,238 | |
| Other financial charges | 652/9 | €596,905 | €570,161 | -€26,744 | -4.5% |
| Profit (loss) for the period before taxes | 9903 | €2,919,202 | €2,041,323 | -€877,879 | -30.1% |
| Income taxes | 67/77 | €803,679 | €597,094 | -€206,585 | -25.7% |
| Taxes | 670/3 | €803,679 | €597,094 | -€206,585 | -25.7% |
| Profit (loss) for the period | 9904 | €2,115,523 | €1,444,229 | -€671,294 | -31.7% |
| Profit (loss) for the period to be appropriated | 9905 | €2,115,523 | €1,444,229 | -€671,294 | -31.7% |
Source: filed annual accounts (NBB), financial years ended 31 May 2024 and 31 May 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.