MAT PACK: 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.
MAT PACK
Largest movements
- Receivables within one year +€154,158
up €154,158 (+5.2%), from €3.0m to €3.1m
of which Other amounts receivable: +€154,936
- Cash -€138,716
down €138,716 (-49.9%), from €278,001 to €139,285
mainly Tax, wage and social debts (-€554,574) and Receivables within one year (-€154,158)
- Tax, wage and social debts -€554,574
down €554,574 (-95.7%), from €579,224 to €24,650
of which Taxes: -€562,899
- Debts after one year +€217,648
new in 2025: €217,648
- Current portion of long-term debt +€180,731
up €180,731, from €0 to €180,731
- Reserves +€171,053
up €171,053 (+2.6%), from €6.6m to €6.7m
of which Distributable reserves: +€171,053
- Financial income -€46,507
down €46,507 (-15.6%), from €297,521 to €251,014
- Gross operating margin -€25,056
down €25,056 (-22.6%), from €110,756 to €85,701
- Taxes -€22,645
down €22,645 (-26.1%), from €86,600 to €63,955
- Financial charges +€14,741
up €14,741 (+125%), from €11,802 to €26,543
- Staff costs +€10,421
up €10,421 (+16.8%), from €62,138 to €72,560
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.
Derived cash bridge
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 | €7,179,489 | €7,190,649 | +€11,160 | +0.2% |
| Fixed assets | 21/28 | €1,509 | €505 | -€1,004 | -66.5% |
| Tangible fixed assets | 22/27 | €1,509 | €505 | -€1,004 | -66.5% |
| Plant, machinery and equipment | 23 | €706 | €139 | -€567 | -80.4% |
| Furniture and vehicles | 24 | €804 | €367 | -€437 | -54.3% |
| Current assets | 29/58 | €7,177,979 | €7,190,143 | +€12,164 | +0.2% |
| Amounts receivable after more than one year | 29 | €2,058,825 | €2,079,413 | +€20,588 | +1.0% |
| Other amounts receivable | 291 | €2,058,825 | €2,079,413 | +€20,588 | +1.0% |
| Amounts receivable within one year | 40/41 | €2,982,552 | €3,136,710 | +€154,158 | +5.2% |
| Trade receivables | 40 | €16,757 | €15,979 | -€778 | -4.6% |
| Other amounts receivable | 41 | €2,965,795 | €3,120,731 | +€154,936 | +5.2% |
| Current investments | 50/53 | €1,655,630 | €1,644,399 | -€11,230 | -0.7% |
| Cash at bank and in hand | 54/58 | €278,001 | €139,285 | -€138,716 | -49.9% |
| Deferred charges and accrued income | 490/1 | €202,971 | €190,335 | -€12,636 | -6.2% |
| Total equity and liabilities | 10/49 | €7,179,489 | €7,190,649 | +€11,160 | +0.2% |
| Equity | 10/15 | €6,596,176 | €6,767,230 | +€171,053 | +2.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €6,577,576 | €6,748,630 | +€171,053 | +2.6% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Other | 1319 | €0 | - | = | |
| Distributable reserves | 133 | €6,577,576 | €6,748,630 | +€171,053 | +2.6% |
| Amounts payable | 17/49 | €583,312 | €423,419 | -€159,893 | -27.4% |
| Amounts payable after more than one year | 17 | - | €217,648 | +€217,648 | |
| Financial debts | 170/4 | - | €217,648 | +€217,648 | |
| Amounts payable within one year | 42/48 | €583,312 | €205,771 | -€377,541 | -64.7% |
| Current portion of amounts payable after more than one year | 42 | €0 | €180,731 | +€180,731 | |
| Trade debts | 44 | €4,089 | €390 | -€3,699 | -90.5% |
| Suppliers | 440/4 | €4,089 | €390 | -€3,699 | -90.5% |
| Taxes, remuneration and social security | 45 | €579,224 | €24,650 | -€554,574 | -95.7% |
| Taxes | 450/3 | €578,984 | €16,085 | -€562,899 | -97.2% |
| Remuneration and social security | 454/9 | €240 | €8,565 | +€8,325 | +3,472% |
| Remuneration, social security and pensions | 62 | €62,138 | €72,560 | +€10,421 | +16.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,111 | €1,004 | -€107 | -9.7% |
| Other operating charges | 640/8 | €1,364 | €1,599 | +€235 | +17.3% |
| Gross operating margin | 9900 | €110,756 | €85,701 | -€25,056 | -22.6% |
| Operating profit (loss) | 9901 | €46,143 | €10,538 | -€35,605 | -77.2% |
| Financial income | 75/76B | €297,521 | €251,014 | -€46,507 | -15.6% |
| Recurring financial income | 75 | €297,521 | €251,014 | -€46,507 | -15.6% |
| Financial charges | 65/66B | €11,802 | €26,543 | +€14,741 | +125% |
| Recurring financial charges | 65 | €11,802 | €26,543 | +€14,741 | +125% |
| Profit (loss) for the period before taxes | 9903 | €331,862 | €235,009 | -€96,854 | -29.2% |
| Income taxes | 67/77 | €86,600 | €63,955 | -€22,645 | -26.1% |
| Profit (loss) for the period | 9904 | €245,262 | €171,053 | -€74,209 | -30.3% |
| Profit (loss) for the period to be appropriated | 9905 | €245,262 | €171,053 | -€74,209 | -30.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.