MAT-MAX: 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-MAX
Largest movements
- Receivables within one year -€2,586
down €2,586 (-35.7%), from €7,243 to €4,657
of which Trade receivables: -€1,785
- Intangible fixed assets -€2,200
down €2,200 (-57.8%), from €3,809 to €1,609
- Cash +€824
up €824 (+78.5%), from €1,050 to €1,874
mainly Depreciation (+€2,655) and Receivables within one year (+€2,586)
- Tangible fixed assets -€322
down €322 (-41.2%), from €781 to €459
of which Furniture and vehicles: -€240
- Profit (loss) carried forward -€3,323
down €3,323 (-23.5%), from -€14,159 to -€17,482
- Trade debts -€478
down €478 (-90.4%), from €529 to €51
of which Bills of exchange payable: -€243
- Other debts -€356
down €356 (-2.6%), from €13,495 to €13,139
- Gross operating margin +€3,359
up €3,359, from -€2,308 to €1,051
- Financial charges -€534
down €534 (-85.1%), from €627 to €93
- Other operating charges +€520
up €520 (+67.7%), from €768 to €1,288
- Write-downs +€450
new in 2025: €450
- Taxes +€428
no longer reported in 2025 (was -€428)
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 | €13,265 | €9,108 | -€4,157 | -31.3% |
| Fixed assets | 21/28 | €4,591 | €2,068 | -€2,522 | -54.9% |
| Intangible fixed assets | 21 | €3,809 | €1,609 | -€2,200 | -57.8% |
| Tangible fixed assets | 22/27 | €781 | €459 | -€322 | -41.2% |
| Plant, machinery and equipment | 23 | €145 | €63 | -€82 | -56.8% |
| Furniture and vehicles | 24 | €636 | €396 | -€240 | -37.7% |
| Current assets | 29/58 | €8,674 | €7,039 | -€1,635 | -18.8% |
| Amounts receivable within one year | 40/41 | €7,243 | €4,657 | -€2,586 | -35.7% |
| Trade receivables | 40 | €6,360 | €4,575 | -€1,785 | -28.1% |
| Other amounts receivable | 41 | €882 | €82 | -€801 | -90.8% |
| Cash at bank and in hand | 54/58 | €1,050 | €1,874 | +€824 | +78.5% |
| Deferred charges and accrued income | 490/1 | €382 | €509 | +€127 | +33.2% |
| Total equity and liabilities | 10/49 | €13,265 | €9,108 | -€4,157 | -31.3% |
| Equity | 10/15 | -€759 | -€4,082 | -€3,323 | -437.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Capital | 10 | - | €12,400 | +€12,400 | |
| Issued capital | 100 | - | €18,600 | +€18,600 | |
| Uncalled capital | 101 | - | €6,200 | +€6,200 | |
| Reserves | 13 | €1,000 | €1,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,000 | €1,000 | = | 0.0% |
| Legal reserve | 130 | - | €1,000 | +€1,000 | |
| Reserves not available under the articles | 1311 | €1,000 | - | -€1,000 | |
| Profit (loss) carried forward | 14 | -€14,159 | -€17,482 | -€3,323 | -23.5% |
| Amounts payable | 17/49 | €14,024 | €13,189 | -€835 | -6.0% |
| Amounts payable within one year | 42/48 | €14,024 | €13,189 | -€835 | -6.0% |
| Trade debts | 44 | €529 | €51 | -€478 | -90.4% |
| Suppliers | 440/4 | €286 | €51 | -€235 | -82.2% |
| Bills of exchange payable | 441 | €243 | - | -€243 | |
| Other amounts payable | 47/48 | €13,495 | €13,139 | -€356 | -2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,694 | €2,655 | -€39 | -1.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €450 | +€450 | |
| Other operating charges | 640/8 | €768 | €1,288 | +€520 | +67.7% |
| Gross operating margin | 9900 | -€2,308 | €1,051 | +€3,359 | |
| Operating profit (loss) | 9901 | -€5,770 | -€3,341 | +€2,428 | +42.1% |
| Financial income | 75/76B | €487 | €112 | -€375 | -77.1% |
| Recurring financial income | 75 | €487 | €112 | -€375 | -77.1% |
| Financial charges | 65/66B | €627 | €93 | -€534 | -85.1% |
| Recurring financial charges | 65 | €627 | €93 | -€534 | -85.1% |
| Profit (loss) for the period before taxes | 9903 | -€5,910 | -€3,323 | +€2,587 | +43.8% |
| Income taxes | 67/77 | -€428 | - | +€428 | |
| Profit (loss) for the period | 9904 | -€5,481 | -€3,323 | +€2,159 | +39.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,481 | -€3,323 | +€2,159 | +39.4% |
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.