MAT - MAR: 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 - MAR
Largest movements
- Receivables after one year -€33,000
down €33,000 (-60.0%), from €55,000 to €22,000
- Receivables within one year +€31,059
up €31,059 (+66.3%), from €46,818 to €77,877
of which Other amounts receivable: +€30,239
- Tangible fixed assets +€9,873
up €9,873 (+65.9%), from €14,972 to €24,845
of which Plant, machinery and equipment: +€5,649
- Cash -€4,299
down €4,299 (-9.5%), from €45,307 to €41,008
mainly Contributions, distributions and other (-€70,598) and Receivables within one year (-€31,059)
- Other debts +€54,712
up €54,712 (+468.0%), from €11,691 to €66,403
- Reserves -€51,734
down €51,734 (-48.6%), from €106,427 to €54,693
of which Distributable reserves: -€51,734
- Tax, wage and social debts +€4,147
up €4,147 (+25.4%), from €16,359 to €20,507
of which Taxes: +€3,266
- Trade debts -€2,313
down €2,313 (-8.4%), from €27,640 to €25,327
- Gross operating margin +€13,512
up €13,512 (+13.1%), from €103,510 to €117,022
- Staff costs +€12,715
up €12,715 (+18.0%), from €70,833 to €83,548
- Depreciation -€2,546
down €2,546 (-29.6%), from €8,597 to €6,051
- Taxes +€1,387
up €1,387 (+18.0%), from €7,703 to €9,090
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 | €168,314 | €173,127 | +€4,812 | +2.9% |
| Fixed assets | 21/28 | €15,641 | €25,514 | +€9,873 | +63.1% |
| Tangible fixed assets | 22/27 | €14,972 | €24,845 | +€9,873 | +65.9% |
| Land and buildings | 22 | €2,802 | €7,563 | +€4,761 | +169.9% |
| Plant, machinery and equipment | 23 | €5,553 | €11,203 | +€5,649 | +101.7% |
| Furniture and vehicles | 24 | €6,617 | €6,079 | -€538 | -8.1% |
| Financial fixed assets | 28 | €669 | €669 | = | 0.0% |
| Current assets | 29/58 | €152,673 | €147,612 | -€5,061 | -3.3% |
| Amounts receivable after more than one year | 29 | €55,000 | €22,000 | -€33,000 | -60.0% |
| Other amounts receivable | 291 | €55,000 | €22,000 | -€33,000 | -60.0% |
| Stocks and contracts in progress | 3 | €5,548 | €6,727 | +€1,180 | +21.3% |
| Stocks | 30/36 | €5,548 | €6,727 | +€1,180 | +21.3% |
| Amounts receivable within one year | 40/41 | €46,818 | €77,877 | +€31,059 | +66.3% |
| Trade receivables | 40 | €12,672 | €13,492 | +€820 | +6.5% |
| Other amounts receivable | 41 | €34,147 | €64,385 | +€30,239 | +88.6% |
| Cash at bank and in hand | 54/58 | €45,307 | €41,008 | -€4,299 | -9.5% |
| Total equity and liabilities | 10/49 | €168,314 | €173,127 | +€4,812 | +2.9% |
| Equity | 10/15 | €112,624 | €60,890 | -€51,734 | -45.9% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €106,427 | €54,693 | -€51,734 | -48.6% |
| Tax-exempt reserves | 132 | €3,157 | €3,157 | = | 0.0% |
| Distributable reserves | 133 | €103,270 | €51,536 | -€51,734 | -50.1% |
| Amounts payable | 17/49 | €55,690 | €112,236 | +€56,546 | +101.5% |
| Amounts payable within one year | 42/48 | €55,690 | €112,236 | +€56,546 | +101.5% |
| Trade debts | 44 | €27,640 | €25,327 | -€2,313 | -8.4% |
| Suppliers | 440/4 | €27,640 | €25,327 | -€2,313 | -8.4% |
| Taxes, remuneration and social security | 45 | €16,359 | €20,507 | +€4,147 | +25.4% |
| Taxes | 450/3 | €9,907 | €13,174 | +€3,266 | +33.0% |
| Remuneration and social security | 454/9 | €6,452 | €7,333 | +€881 | +13.7% |
| Other amounts payable | 47/48 | €11,691 | €66,403 | +€54,712 | +468.0% |
| Non-recurring operating income | 76A | €4,639 | - | -€4,639 | |
| Remuneration, social security and pensions | 62 | €70,833 | €83,548 | +€12,715 | +18.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,597 | €6,051 | -€2,546 | -29.6% |
| Other operating charges | 640/8 | €803 | €875 | +€73 | +9.1% |
| Gross operating margin | 9900 | €103,510 | €117,022 | +€13,512 | +13.1% |
| Operating profit (loss) | 9901 | €23,278 | €26,548 | +€3,270 | +14.0% |
| Financial income | 75/76B | €3,024 | €3,635 | +€612 | +20.2% |
| Recurring financial income | 75 | €3,024 | €3,635 | +€612 | +20.2% |
| Financial charges | 65/66B | €2,131 | €2,229 | +€98 | +4.6% |
| Recurring financial charges | 65 | €2,131 | €2,229 | +€98 | +4.6% |
| Profit (loss) for the period before taxes | 9903 | €24,171 | €27,954 | +€3,783 | +15.7% |
| Income taxes | 67/77 | €7,703 | €9,090 | +€1,387 | +18.0% |
| Profit (loss) for the period | 9904 | €16,468 | €18,864 | +€2,396 | +14.6% |
| Profit (loss) for the period to be appropriated | 9905 | €16,468 | €18,864 | +€2,396 | +14.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.