MATADOR: 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.
MATADOR
Largest movements
- Cash -€25,743
down €25,743 (-36.6%), from €70,313 to €44,569
mainly Other debts (-€35,069) and Contributions, distributions and other (-€9,800)
- Receivables within one year +€5,320
new in 2025: €5,320
of which Other amounts receivable: +€4,427
- Stocks and contracts -€4,491
down €4,491 (-29.7%), from €15,143 to €10,652
- Other debts -€35,069
down €35,069 (-96.2%), from €36,447 to €1,378
- Contributions +€6,200
up €6,200 (+50.0%), from €12,400 to €18,600
- Tax, wage and social debts +€5,205
up €5,205 (+170%), from €3,067 to €8,272
- Reserves -€1,465
down €1,465 (-4.1%), from €36,078 to €34,613
of which Distributable reserves: -€1,465
- Taxes +€5,411
up €5,411 (+187%), from €2,889 to €8,300
- Write-downs -€2,838
down €2,838 (-42.1%), from €6,745 to €3,907
- Depreciation -€1,335
down €1,335 (-65.2%), from €2,047 to €711
- Gross operating margin +€1,005
up €1,005 (+3.7%), from €26,883 to €27,888
- Financial income +€286
up €286 (+649%), from €44 to €330
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 | €89,985 | €64,308 | -€25,677 | -28.5% |
| Fixed assets | 21/28 | €3,760 | €3,049 | -€711 | -18.9% |
| Tangible fixed assets | 22/27 | €3,640 | €2,929 | -€711 | -19.5% |
| Plant, machinery and equipment | 23 | €3,208 | €2,929 | -€279 | -8.7% |
| Furniture and vehicles | 24 | €432 | - | -€432 | |
| Financial fixed assets | 28 | €120 | €120 | = | 0.0% |
| Current assets | 29/58 | €86,225 | €61,259 | -€24,966 | -29.0% |
| Stocks and contracts in progress | 3 | €15,143 | €10,652 | -€4,491 | -29.7% |
| Stocks | 30/36 | €15,143 | €10,652 | -€4,491 | -29.7% |
| Amounts receivable within one year | 40/41 | - | €5,320 | +€5,320 | |
| Trade receivables | 40 | - | €893 | +€893 | |
| Other amounts receivable | 41 | - | €4,427 | +€4,427 | |
| Cash at bank and in hand | 54/58 | €70,313 | €44,569 | -€25,743 | -36.6% |
| Deferred charges and accrued income | 490/1 | €770 | €719 | -€51 | -6.6% |
| Total equity and liabilities | 10/49 | €89,985 | €64,308 | -€25,677 | -28.5% |
| Equity | 10/15 | €48,478 | €53,213 | +€4,735 | +9.8% |
| Contributions | 10/11 | €12,400 | €18,600 | +€6,200 | +50.0% |
| Reserves | 13 | €36,078 | €34,613 | -€1,465 | -4.1% |
| Tax-exempt reserves | 132 | €6,000 | €6,000 | = | 0.0% |
| Distributable reserves | 133 | €30,078 | €28,613 | -€1,465 | -4.9% |
| Amounts payable | 17/49 | €41,507 | €11,095 | -€30,412 | -73.3% |
| Amounts payable within one year | 42/48 | €40,810 | €10,521 | -€30,289 | -74.2% |
| Trade debts | 44 | €1,295 | €870 | -€425 | -32.8% |
| Suppliers | 440/4 | €1,295 | €870 | -€425 | -32.8% |
| Taxes, remuneration and social security | 45 | €3,067 | €8,272 | +€5,205 | +170% |
| Taxes | 450/3 | €3,067 | €8,272 | +€5,205 | +170% |
| Other amounts payable | 47/48 | €36,447 | €1,378 | -€35,069 | -96.2% |
| Accrued charges and deferred income | 492/3 | €697 | €574 | -€123 | -17.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,047 | €711 | -€1,335 | -65.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €6,745 | €3,907 | -€2,838 | -42.1% |
| Other operating charges | 640/8 | €626 | €590 | -€36 | -5.8% |
| Gross operating margin | 9900 | €26,883 | €27,888 | +€1,005 | +3.7% |
| Operating profit (loss) | 9901 | €17,465 | €22,680 | +€5,215 | +29.9% |
| Financial income | 75/76B | €44 | €330 | +€286 | +649% |
| Recurring financial income | 75 | €44 | €330 | +€286 | +649% |
| Financial charges | 65/66B | €143 | €175 | +€32 | +22.5% |
| Recurring financial charges | 65 | €143 | €175 | +€32 | +22.5% |
| Profit (loss) for the period before taxes | 9903 | €17,366 | €22,835 | +€5,468 | +31.5% |
| Income taxes | 67/77 | €2,889 | €8,300 | +€5,411 | +187% |
| Profit (loss) for the period | 9904 | €14,477 | €14,535 | +€57 | +0.4% |
| Profit (loss) for the period to be appropriated | 9905 | €14,477 | €14,535 | +€57 | +0.4% |
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 27 October 2026 via checked.be.