MAT.PROTECT: 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.PROTECT
Largest movements
- Stocks and contracts -€47,254
down €47,254 (-100.0%), from €47,254 to €0
- Cash -€16,887
down €16,887 (-80.9%), from €20,867 to €3,980
mainly Other debts (-€52,000) and Trade debts (-€48,668)
- Receivables within one year -€13,572
down €13,572 (-13.0%), from €104,405 to €90,834
of which Trade receivables: -€13,525
- Other debts -€52,000
down €52,000 (-80.0%), from €65,000 to €13,000
- Trade debts -€48,668
down €48,668 (-96.7%), from €50,343 to €1,675
- Reserves +€16,885
up €16,885 (+101.7%), from €16,600 to €33,485
- Tax, wage and social debts +€5,676
up €5,676 (+28.9%), from €19,652 to €25,328
- Profit (loss) carried forward +€4,021
up €4,021 (+23.8%), from €16,885 to €20,906
- Gross operating margin -€125,587
down €125,587, from €98,092 to -€27,495
- Write-downs -€92,055
down €92,055, from €32,108 to -€59,947
- Staff costs -€40,407
down €40,407 (-98.1%), from €41,197 to €791
- Taxes +€6,155
up €6,155 (+251.1%), from €2,451 to €8,607
- Financial charges -€3,652
down €3,652 (-62.3%), from €5,861 to €2,209
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 | €172,527 | €94,814 | -€77,713 | -45.0% |
| Current assets | 29/58 | €172,527 | €94,814 | -€77,713 | -45.0% |
| Stocks and contracts in progress | 3 | €47,254 | €0 | -€47,254 | -100.0% |
| Stocks | 30/36 | €47,254 | €0 | -€47,254 | -100.0% |
| Amounts receivable within one year | 40/41 | €104,405 | €90,834 | -€13,572 | -13.0% |
| Trade receivables | 40 | €104,359 | €90,834 | -€13,525 | -13.0% |
| Other amounts receivable | 41 | €46 | €0 | -€46 | -100.0% |
| Cash at bank and in hand | 54/58 | €20,867 | €3,980 | -€16,887 | -80.9% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €172,527 | €94,814 | -€77,713 | -45.0% |
| Equity | 10/15 | €33,485 | €54,391 | +€20,906 | +62.4% |
| Reserves | 13 | €16,600 | €33,485 | +€16,885 | +101.7% |
| Distributable reserves | 133 | €16,600 | €33,485 | +€16,885 | +101.7% |
| Profit (loss) carried forward | 14 | €16,885 | €20,906 | +€4,021 | +23.8% |
| Amounts payable | 17/49 | €139,042 | €40,423 | -€98,619 | -70.9% |
| Amounts payable within one year | 42/48 | €134,995 | €40,003 | -€94,992 | -70.4% |
| Trade debts | 44 | €50,343 | €1,675 | -€48,668 | -96.7% |
| Suppliers | 440/4 | €50,343 | €1,675 | -€48,668 | -96.7% |
| Taxes, remuneration and social security | 45 | €19,652 | €25,328 | +€5,676 | +28.9% |
| Taxes | 450/3 | €19,652 | €25,328 | +€5,676 | +28.9% |
| Other amounts payable | 47/48 | €65,000 | €13,000 | -€52,000 | -80.0% |
| Accrued charges and deferred income | 492/3 | €4,047 | €419 | -€3,627 | -89.6% |
| Remuneration, social security and pensions | 62 | €41,197 | €791 | -€40,407 | -98.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €32,108 | -€59,947 | -€92,055 | |
| Other operating charges | 640/8 | €730 | €30 | -€700 | -95.9% |
| Gross operating margin | 9900 | €98,092 | -€27,495 | -€125,587 | |
| Operating profit (loss) | 9901 | €24,057 | €31,631 | +€7,575 | +31.5% |
| Financial income | 75/76B | €1,141 | €91 | -€1,051 | -92.1% |
| Recurring financial income | 75 | €1,141 | €91 | -€1,051 | -92.1% |
| Financial charges | 65/66B | €5,861 | €2,209 | -€3,652 | -62.3% |
| Recurring financial charges | 65 | €5,861 | €2,209 | -€3,652 | -62.3% |
| Profit (loss) for the period before taxes | 9903 | €19,337 | €29,513 | +€10,176 | +52.6% |
| Income taxes | 67/77 | €2,451 | €8,607 | +€6,155 | +251.1% |
| Profit (loss) for the period | 9904 | €16,885 | €20,906 | +€4,021 | +23.8% |
| Profit (loss) for the period to be appropriated | 9905 | €16,885 | €20,906 | +€4,021 | +23.8% |
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 3 October 2026 via checked.be.