MATAM: 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.
MATAM
Largest movements
- Cash -€877,415
down €877,415 (-60.6%), from €1.4m to €570,402
mainly Contributions, distributions and other (-€1.6m) and Short-term financial debts (-€300,000)
- Tangible fixed assets -€126,282
down €126,282 (-5.9%), from €2.1m to €2.0m
of which Land and buildings: -€112,066
- Receivables within one year +€100,841
up €100,841 (+4.7%), from €2.1m to €2.2m
of which Trade receivables: +€670,754
- Reserves -€998,861
down €998,861 (-35.9%), from €2.8m to €1.8m
of which Distributable reserves: -€953,467
- Short-term financial debts -€300,000
no longer reported in 2025 (was €300,000)
- Other debts +€252,918
up €252,918 (+141.5%), from €178,800 to €431,718
- Trade debts +€251,579
up €251,579 (+28.3%), from €887,648 to €1.1m
- Profit (loss) carried forward -€153,816
down €153,816 (-97.0%), from €158,554 to €4,738
- Gross operating margin +€168,937
up €168,937 (+18.6%), from €907,405 to €1.1m
- Taxes +€61,803
up €61,803 (+40.1%), from €154,197 to €216,000
- Financial income -€60,517
down €60,517 (-69.9%), from €86,540 to €26,024
- Depreciation +€17,755
up €17,755 (+9.8%), from €180,830 to €198,585
- Financial charges +€15,053
up €15,053 (+10.2%), from €147,244 to €162,296
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 | €6,333,496 | €5,501,736 | -€831,760 | -13.1% |
| Fixed assets | 21/28 | €2,132,006 | €2,061,146 | -€70,860 | -3.3% |
| Intangible fixed assets | 21 | €1,114 | €56,536 | +€55,422 | +4974.7% |
| Tangible fixed assets | 22/27 | €2,130,892 | €2,004,610 | -€126,282 | -5.9% |
| Land and buildings | 22 | €2,059,009 | €1,946,943 | -€112,066 | -5.4% |
| Plant, machinery and equipment | 23 | €41,649 | €32,747 | -€8,902 | -21.4% |
| Furniture and vehicles | 24 | €30,234 | €24,920 | -€5,314 | -17.6% |
| Current assets | 29/58 | €4,201,490 | €3,440,590 | -€760,900 | -18.1% |
| Stocks and contracts in progress | 3 | €54,306 | €57,848 | +€3,542 | +6.5% |
| Stocks | 30/36 | €54,306 | €57,848 | +€3,542 | +6.5% |
| Amounts receivable within one year | 40/41 | €2,148,570 | €2,249,411 | +€100,841 | +4.7% |
| Trade receivables | 40 | €1,137,783 | €1,808,537 | +€670,754 | +59.0% |
| Other amounts receivable | 41 | €1,010,788 | €440,874 | -€569,913 | -56.4% |
| Current investments | 50/53 | €509,467 | €509,467 | -€0 | 0.0% |
| Cash at bank and in hand | 54/58 | €1,447,818 | €570,402 | -€877,415 | -60.6% |
| Deferred charges and accrued income | 490/1 | €41,329 | €53,462 | +€12,133 | +29.4% |
| Total equity and liabilities | 10/49 | €6,333,496 | €5,501,736 | -€831,760 | -13.1% |
| Equity | 10/15 | €3,000,272 | €1,847,596 | -€1.2m | -38.4% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €2,779,719 | €1,780,858 | -€998,861 | -35.9% |
| Non-distributable reserves | 130/1 | €521,964 | €521,964 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €515,764 | €515,764 | = | 0.0% |
| Tax-exempt reserves | 132 | €45,394 | - | -€45,394 | |
| Distributable reserves | 133 | €2,212,361 | €1,258,894 | -€953,467 | -43.1% |
| Profit (loss) carried forward | 14 | €158,554 | €4,738 | -€153,816 | -97.0% |
| Provisions and deferred taxes | 16 | €1,308,969 | €1,296,726 | -€12,243 | -0.9% |
| Provisions for liabilities and charges | 160/5 | €1,308,969 | €1,296,726 | -€12,243 | -0.9% |
| Other liabilities and charges | 164/5 | €1,308,969 | €1,296,726 | -€12,243 | -0.9% |
| Amounts payable | 17/49 | €2,024,255 | €2,357,414 | +€333,160 | +16.5% |
| Amounts payable after more than one year | 17 | €253,415 | €283,668 | +€30,253 | +11.9% |
| Financial debts | 170/4 | €253,415 | €283,668 | +€30,253 | +11.9% |
| Amounts payable within one year | 42/48 | €1,766,339 | €2,069,279 | +€302,940 | +17.2% |
| Current portion of amounts payable after more than one year | 42 | €298,213 | €328,269 | +€30,055 | +10.1% |
| Financial debts | 43 | €300,000 | - | -€300,000 | |
| Credit institutions | 430/8 | €300,000 | - | -€300,000 | |
| Trade debts | 44 | €887,648 | €1,139,227 | +€251,579 | +28.3% |
| Suppliers | 440/4 | €887,648 | €1,139,227 | +€251,579 | +28.3% |
| Taxes, remuneration and social security | 45 | €101,678 | €170,066 | +€68,387 | +67.3% |
| Taxes | 450/3 | €89,200 | €156,943 | +€67,743 | +75.9% |
| Remuneration and social security | 454/9 | €12,478 | €13,123 | +€644 | +5.2% |
| Other amounts payable | 47/48 | €178,800 | €431,718 | +€252,918 | +141.5% |
| Accrued charges and deferred income | 492/3 | €4,500 | €4,467 | -€33 | -0.7% |
| Remuneration, social security and pensions | 62 | €101,752 | €100,648 | -€1,105 | -1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €180,830 | €198,585 | +€17,755 | +9.8% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€11,935 | -€12,243 | -€308 | -2.6% |
| Other operating charges | 640/8 | €14,681 | €20,897 | +€6,215 | +42.3% |
| Gross operating margin | 9900 | €907,405 | €1,076,343 | +€168,937 | +18.6% |
| Operating profit (loss) | 9901 | €622,077 | €768,457 | +€146,380 | +23.5% |
| Financial income | 75/76B | €86,540 | €26,024 | -€60,517 | -69.9% |
| Recurring financial income | 75 | €86,540 | €26,024 | -€60,517 | -69.9% |
| Financial charges | 65/66B | €147,244 | €162,296 | +€15,053 | +10.2% |
| Recurring financial charges | 65 | €147,244 | €162,296 | +€15,053 | +10.2% |
| Profit (loss) for the period before taxes | 9903 | €561,373 | €632,184 | +€70,811 | +12.6% |
| Income taxes | 67/77 | €154,197 | €216,000 | +€61,803 | +40.1% |
| Profit (loss) for the period | 9904 | €407,176 | €416,184 | +€9,008 | +2.2% |
| Profit (loss) for the period to be appropriated | 9905 | €407,176 | €416,184 | +€9,008 | +2.2% |
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 12 October 2026 via checked.be.