MAT-BEHEER: what changed
MAT-BEHEER
Largest movements
- Financial fixed assets +€2.8m
up €2.8m (+30.6%), from €9.2m to €12.0m
- Receivables after one year +€650,000
new in 2025: €650,000
- Cash +€326,345
up €326,345 (+432%), from €75,613 to €401,958
mainly Debts after one year (+€3.5m) and Net result for the year (+€816,254)
- Receivables within one year +€181,926
up €181,926 (+61.1%), from €297,900 to €479,826
- Debts after one year +€3.5m
up €3.5m (+1,161%), from €298,500 to €3.8m
of which Financial debts: +€2.1m
- Reserves +€816,254
up €816,254 (+45.7%), from €1.8m to €2.6m
of which Distributable reserves: +€816,254
- Other debts -€701,050
down €701,050 (-99.7%), from €703,000 to €1,950
- Current portion of long-term debt +€656,757
up €656,757 (+4,995%), from €13,148 to €669,905
- Tax, wage and social debts -€327,243
down €327,243 (-34.1%), from €960,608 to €633,365
of which Taxes: -€389,337
- Financial income +€397,212
up €397,212 (+131%), from €302,788 to €700,000
- Gross operating margin +€235,899
up €235,899 (+10.0%), from €2.4m to €2.6m
- Taxes +€66,007
up €66,007 (+10,378%), from €636 to €66,643
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,536,146 | €13,499,517 | +€4.0m | +41.6% |
| Fixed assets | 21/28 | €9,162,633 | €11,967,733 | +€2.8m | +30.6% |
| Financial fixed assets | 28 | €9,162,633 | €11,967,733 | +€2.8m | +30.6% |
| Current assets | 29/58 | €373,513 | €1,531,784 | +€1.2m | +310% |
| Amounts receivable after more than one year | 29 | - | €650,000 | +€650,000 | |
| Other amounts receivable | 291 | - | €650,000 | +€650,000 | |
| Amounts receivable within one year | 40/41 | €297,900 | €479,826 | +€181,926 | +61.1% |
| Trade receivables | 40 | €297,900 | €479,826 | +€181,926 | +61.1% |
| Cash at bank and in hand | 54/58 | €75,613 | €401,958 | +€326,345 | +432% |
| Total equity and liabilities | 10/49 | €9,536,146 | €13,499,517 | +€4.0m | +41.6% |
| Equity | 10/15 | €7,503,685 | €8,319,939 | +€816,254 | +10.9% |
| Contributions | 10/11 | €5,717,189 | €5,717,189 | = | 0.0% |
| Capital | 10 | €4,357,752 | €4,357,752 | = | 0.0% |
| Issued capital | 100 | €4,357,752 | €4,357,752 | = | 0.0% |
| Contributions outside capital | 11 | €1,359,437 | €1,359,437 | = | 0.0% |
| Share premium | 1100/10 | €1,359,437 | €1,359,437 | = | 0.0% |
| Reserves | 13 | €1,786,496 | €2,602,750 | +€816,254 | +45.7% |
| Non-distributable reserves | 130/1 | €469,967 | €469,967 | = | 0.0% |
| Legal reserve | 130 | €469,967 | €469,967 | = | 0.0% |
| Distributable reserves | 133 | €1,316,529 | €2,132,783 | +€816,254 | +62.0% |
| Amounts payable | 17/49 | €2,032,461 | €5,179,578 | +€3.1m | +155% |
| Amounts payable after more than one year | 17 | €298,500 | €3,764,595 | +€3.5m | +1,161% |
| Financial debts | 170/4 | €298,500 | €2,384,595 | +€2.1m | +699% |
| Other amounts payable | 178/9 | - | €1,380,000 | +€1.4m | |
| Amounts payable within one year | 42/48 | €1,733,961 | €1,414,983 | -€318,978 | -18.4% |
| Current portion of amounts payable after more than one year | 42 | €13,148 | €669,905 | +€656,757 | +4,995% |
| Trade debts | 44 | €57,205 | €109,763 | +€52,558 | +91.9% |
| Suppliers | 440/4 | €57,205 | €109,763 | +€52,558 | +91.9% |
| Taxes, remuneration and social security | 45 | €960,608 | €633,365 | -€327,243 | -34.1% |
| Taxes | 450/3 | €667,338 | €278,001 | -€389,337 | -58.3% |
| Remuneration and social security | 454/9 | €293,270 | €355,364 | +€62,094 | +21.2% |
| Other amounts payable | 47/48 | €703,000 | €1,950 | -€701,050 | -99.7% |
| Remuneration, social security and pensions | 62 | €2,396,183 | €2,401,461 | +€5,278 | +0.2% |
| Other operating charges | 640/8 | €2,860 | €998 | -€1,862 | -65.1% |
| Gross operating margin | 9900 | €2,350,954 | €2,586,853 | +€235,899 | +10.0% |
| Operating profit (loss) | 9901 | -€48,089 | €184,394 | +€232,483 | |
| Financial income | 75/76B | €302,788 | €700,000 | +€397,212 | +131% |
| Recurring financial income | 75 | €302,788 | €700,000 | +€397,212 | +131% |
| Financial charges | 65/66B | €17,757 | €1,497 | -€16,260 | -91.6% |
| Recurring financial charges | 65 | €17,757 | €1,497 | -€16,260 | -91.6% |
| Profit (loss) for the period before taxes | 9903 | €236,942 | €882,897 | +€645,955 | +273% |
| Income taxes | 67/77 | €636 | €66,643 | +€66,007 | +10,378% |
| Profit (loss) for the period | 9904 | €236,306 | €816,254 | +€579,948 | +245% |
| Profit (loss) for the period to be appropriated | 9905 | €236,306 | €816,254 | +€579,948 | +245% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.