MATAN: 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.
MATAN
Largest movements
- Tangible fixed assets +€170,948
up €170,948 (+33.8%), from €505,902 to €676,850
- Cash -€10,631
down €10,631 (-94.1%), from €11,295 to €664
mainly Investment in fixed assets (net) (-€184,403) and Debts after one year (-€30,206)
- Short-term financial debts +€160,000
new in 2025: €160,000
- Debts after one year -€30,206
down €30,206 (-8.3%), from €363,166 to €332,960
- Other debts +€25,000
up €25,000 (+44.6%), from €56,005 to €81,005
- Gross operating margin -€10,292
down €10,292 (-21.3%), from €48,277 to €37,985
- Financial charges +€9,592
up €9,592 (+105%), from €9,107 to €18,699
- Taxes -€6,374
down €6,374 (-91.3%), from €6,980 to €607
- Depreciation +€2,595
up €2,595 (+23.9%), from €10,860 to €13,455
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 | €523,587 | €683,936 | +€160,349 | +30.6% |
| Fixed assets | 21/28 | €505,902 | €676,850 | +€170,948 | +33.8% |
| Tangible fixed assets | 22/27 | €505,902 | €676,850 | +€170,948 | +33.8% |
| Land and buildings | 22 | €505,902 | €676,850 | +€170,948 | +33.8% |
| Current assets | 29/58 | €17,685 | €7,086 | -€10,599 | -59.9% |
| Amounts receivable within one year | 40/41 | €6,165 | €4,893 | -€1,271 | -20.6% |
| Other amounts receivable | 41 | €6,165 | €4,893 | -€1,271 | -20.6% |
| Cash at bank and in hand | 54/58 | €11,295 | €664 | -€10,631 | -94.1% |
| Deferred charges and accrued income | 490/1 | €225 | €1,529 | +€1,304 | +579% |
| Total equity and liabilities | 10/49 | €523,587 | €683,936 | +€160,349 | +30.6% |
| Equity | 10/15 | €66,423 | €68,849 | +€2,426 | +3.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €46,423 | €48,849 | +€2,426 | +5.2% |
| Distributable reserves | 133 | €46,423 | €48,849 | +€2,426 | +5.2% |
| Amounts payable | 17/49 | €457,164 | €615,087 | +€157,923 | +34.5% |
| Amounts payable after more than one year | 17 | €363,166 | €332,960 | -€30,206 | -8.3% |
| Financial debts | 170/4 | €363,166 | €332,960 | -€30,206 | -8.3% |
| Amounts payable within one year | 42/48 | €91,498 | €279,627 | +€188,130 | +206% |
| Current portion of amounts payable after more than one year | 42 | €28,287 | €30,206 | +€1,919 | +6.8% |
| Financial debts | 43 | - | €160,000 | +€160,000 | |
| Credit institutions | 430/8 | - | €160,000 | +€160,000 | |
| Trade debts | 44 | €225 | €1,435 | +€1,210 | +538% |
| Suppliers | 440/4 | €225 | €1,435 | +€1,210 | +538% |
| Taxes, remuneration and social security | 45 | €6,980 | €6,980 | = | 0.0% |
| Taxes | 450/3 | €6,980 | €6,980 | = | 0.0% |
| Other amounts payable | 47/48 | €56,005 | €81,005 | +€25,000 | +44.6% |
| Accrued charges and deferred income | 492/3 | €2,500 | €2,500 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,860 | €13,455 | +€2,595 | +23.9% |
| Other operating charges | 640/8 | €2,717 | €2,799 | +€83 | +3.0% |
| Gross operating margin | 9900 | €48,277 | €37,985 | -€10,292 | -21.3% |
| Operating profit (loss) | 9901 | €34,701 | €21,732 | -€12,970 | -37.4% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €9,107 | €18,699 | +€9,592 | +105% |
| Recurring financial charges | 65 | €9,107 | €18,699 | +€9,592 | +105% |
| Profit (loss) for the period before taxes | 9903 | €25,594 | €3,033 | -€22,561 | -88.2% |
| Income taxes | 67/77 | €6,980 | €607 | -€6,374 | -91.3% |
| Profit (loss) for the period | 9904 | €18,614 | €2,426 | -€16,188 | -87.0% |
| Profit (loss) for the period to be appropriated | 9905 | €18,614 | €2,426 | -€16,188 | -87.0% |
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 13 October 2026 via checked.be.