Mat-elect: 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.
Mat-elect
Largest movements
- Stocks and contracts +€22,239
up €22,239 (+31.1%), from €71,498 to €93,737
- Cash -€12,779
down €12,779 (-64.6%), from €19,787 to €7,008
mainly Stocks and contracts (-€22,239) and Debts after one year (-€6,449)
- Tangible fixed assets -€10,288
down €10,288 (-10.3%), from €99,557 to €89,268
- Receivables within one year +€3,873
up €3,873 (+255.5%), from €1,516 to €5,389
of which Trade receivables: +€5,115
- Other debts +€7,315
up €7,315 (+10.5%), from €69,582 to €76,896
- Debts after one year -€6,449
down €6,449 (-9.7%), from €66,723 to €60,274
- Trade debts +€5,818
up €5,818 (+13.6%), from €42,839 to €48,657
- Accrued charges and deferred income +€5,479
up €5,479, from €0 to €5,479
- Tax, wage and social debts -€3,852
down €3,852 (-13.0%), from €29,577 to €25,726
of which Taxes: -€6,189
- Gross operating margin -€6,203
down €6,203 (-10.1%), from €61,479 to €55,276
- Depreciation -€4,225
down €4,225 (-33.4%), from €12,652 to €8,427
- Financial charges +€3,025
up €3,025 (+50.4%), from €6,008 to €9,033
- Staff costs +€1,368
up €1,368 (+3.7%), from €37,151 to €38,519
- Financial income -€1,027
down €1,027 (-67.3%), from €1,526 to €499
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 | €193,011 | €195,876 | +€2,865 | +1.5% |
| Fixed assets | 21/28 | €100,146 | €89,653 | -€10,493 | -10.5% |
| Intangible fixed assets | 21 | €590 | €385 | -€205 | -34.8% |
| Tangible fixed assets | 22/27 | €99,557 | €89,268 | -€10,288 | -10.3% |
| Land and buildings | 22 | €86,219 | €81,521 | -€4,698 | -5.4% |
| Plant, machinery and equipment | 23 | €4,740 | €2,752 | -€1,988 | -41.9% |
| Furniture and vehicles | 24 | €5,289 | €4,995 | -€294 | -5.6% |
| Leasing and similar rights | 25 | €3,308 | €0 | -€3,308 | -100.0% |
| Current assets | 29/58 | €92,865 | €106,223 | +€13,358 | +14.4% |
| Stocks and contracts in progress | 3 | €71,498 | €93,737 | +€22,239 | +31.1% |
| Stocks | 30/36 | €71,498 | €93,737 | +€22,239 | +31.1% |
| Amounts receivable within one year | 40/41 | €1,516 | €5,389 | +€3,873 | +255.5% |
| Trade receivables | 40 | - | €5,115 | +€5,115 | |
| Other amounts receivable | 41 | €1,516 | €274 | -€1,242 | -81.9% |
| Cash at bank and in hand | 54/58 | €19,787 | €7,008 | -€12,779 | -64.6% |
| Deferred charges and accrued income | 490/1 | €64 | €89 | +€25 | +38.9% |
| Total equity and liabilities | 10/49 | €193,011 | €195,876 | +€2,865 | +1.5% |
| Equity | 10/15 | -€24,814 | -€27,605 | -€2,791 | -11.2% |
| Contributions | 10/11 | €19,600 | €19,600 | = | 0.0% |
| Reserves | 13 | €12,000 | €12,000 | = | 0.0% |
| Distributable reserves | 133 | €12,000 | €12,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€56,414 | -€59,205 | -€2,791 | -4.9% |
| Amounts payable | 17/49 | €217,825 | €223,481 | +€5,655 | +2.6% |
| Amounts payable after more than one year | 17 | €66,723 | €60,274 | -€6,449 | -9.7% |
| Financial debts | 170/4 | €66,723 | €60,274 | -€6,449 | -9.7% |
| Amounts payable within one year | 42/48 | €151,103 | €157,728 | +€6,625 | +4.4% |
| Current portion of amounts payable after more than one year | 42 | €9,104 | €6,449 | -€2,656 | -29.2% |
| Trade debts | 44 | €42,839 | €48,657 | +€5,818 | +13.6% |
| Suppliers | 440/4 | €42,839 | €48,657 | +€5,818 | +13.6% |
| Taxes, remuneration and social security | 45 | €29,577 | €25,726 | -€3,852 | -13.0% |
| Taxes | 450/3 | €12,713 | €6,524 | -€6,189 | -48.7% |
| Remuneration and social security | 454/9 | €16,864 | €19,202 | +€2,338 | +13.9% |
| Other amounts payable | 47/48 | €69,582 | €76,896 | +€7,315 | +10.5% |
| Accrued charges and deferred income | 492/3 | €0 | €5,479 | +€5,479 | |
| Remuneration, social security and pensions | 62 | €37,151 | €38,519 | +€1,368 | +3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,652 | €8,427 | -€4,225 | -33.4% |
| Other operating charges | 640/8 | €1,622 | €2,586 | +€964 | +59.5% |
| Gross operating margin | 9900 | €61,479 | €55,276 | -€6,203 | -10.1% |
| Operating profit (loss) | 9901 | €10,055 | €5,744 | -€4,311 | -42.9% |
| Financial income | 75/76B | €1,526 | €499 | -€1,027 | -67.3% |
| Recurring financial income | 75 | €1,526 | €499 | -€1,027 | -67.3% |
| Financial charges | 65/66B | €6,008 | €9,033 | +€3,025 | +50.4% |
| Recurring financial charges | 65 | €6,008 | €9,033 | +€3,025 | +50.4% |
| Profit (loss) for the period before taxes | 9903 | €5,573 | -€2,791 | -€8,364 | |
| Income taxes | 67/77 | €500 | €0 | -€500 | -100.0% |
| Profit (loss) for the period | 9904 | €5,073 | -€2,791 | -€7,864 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,073 | -€2,791 | -€7,864 |
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 7 October 2026 via checked.be.