MATARO ADVICE: 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.
MATARO ADVICE
Largest movements
- Financial fixed assets +€2.2m
new in 2025: €2.2m
- Receivables within one year +€681,318
up €681,318 (+15.7%), from €4.3m to €5.0m
of which Trade receivables: +€759,464
- Cash -€326,234
down €326,234 (-70.3%), from €463,784 to €137,550
mainly Investment in fixed assets (net) (-€2.4m) and Receivables within one year (-€681,318)
- Tangible fixed assets +€122,606
up €122,606 (+15.9%), from €772,962 to €895,567
of which Other tangible fixed assets: +€125,445
- Stocks and contracts -€109,579
down €109,579 (-95.4%), from €114,814 to €5,235
- Debts after one year +€1.7m
up €1.7m (+1,475%), from €116,836 to €1.8m
of which Financial debts: +€1.7m
- Reserves +€414,138
up €414,138 (+26.0%), from €1.6m to €2.0m
of which Distributable reserves: +€287,838
- Advances received +€194,442
up €194,442 (+98.5%), from €197,439 to €391,881
- Current portion of long-term debt +€183,583
up €183,583 (+312%), from €58,867 to €242,450
- Other debts -€131,961
down €131,961 (-17.3%), from €762,680 to €630,719
- Gross operating margin +€443,747
up €443,747 (+48.8%), from €909,353 to €1.4m
- Staff costs +€188,684
up €188,684 (+55.4%), from €340,506 to €529,191
- Financial charges +€132,497
up €132,497 (+141%), from €93,763 to €226,260
- Write-downs -€63,855
down €63,855 (-96.7%), from €66,055 to €2,200
- Depreciation +€20,314
up €20,314 (+21.1%), from €96,184 to €116,497
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 | €5,738,991 | €8,314,159 | +€2.6m | +44.9% |
| Fixed assets | 21/28 | €772,962 | €3,057,160 | +€2.3m | +296% |
| Tangible fixed assets | 22/27 | €772,962 | €895,567 | +€122,606 | +15.9% |
| Furniture and vehicles | 24 | €10,642 | €7,803 | -€2,839 | -26.7% |
| Other tangible fixed assets | 26 | €762,320 | €887,765 | +€125,445 | +16.5% |
| Financial fixed assets | 28 | - | €2,161,593 | +€2.2m | |
| Current assets | 29/58 | €4,966,030 | €5,256,999 | +€290,969 | +5.9% |
| Amounts receivable after more than one year | 29 | - | €40,000 | +€40,000 | |
| Other amounts receivable | 291 | - | €40,000 | +€40,000 | |
| Stocks and contracts in progress | 3 | €114,814 | €5,235 | -€109,579 | -95.4% |
| Stocks | 30/36 | €114,814 | €5,235 | -€109,579 | -95.4% |
| Amounts receivable within one year | 40/41 | €4,330,037 | €5,011,355 | +€681,318 | +15.7% |
| Trade receivables | 40 | €4,152,223 | €4,911,687 | +€759,464 | +18.3% |
| Other amounts receivable | 41 | €177,814 | €99,668 | -€78,146 | -43.9% |
| Current investments | 50/53 | €49,395 | €49,907 | +€512 | +1.0% |
| Cash at bank and in hand | 54/58 | €463,784 | €137,550 | -€326,234 | -70.3% |
| Deferred charges and accrued income | 490/1 | €8,000 | €12,951 | +€4,951 | +61.9% |
| Total equity and liabilities | 10/49 | €5,738,991 | €8,314,159 | +€2.6m | +44.9% |
| Equity | 10/15 | €1,610,685 | €2,091,069 | +€480,384 | +29.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,592,085 | €2,006,223 | +€414,138 | +26.0% |
| Tax-exempt reserves | 132 | - | €126,300 | +€126,300 | |
| Distributable reserves | 133 | €1,592,085 | €1,879,923 | +€287,838 | +18.1% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Investment grants | 15 | - | €66,246 | +€66,246 | |
| Amounts payable | 17/49 | €4,128,306 | €6,223,090 | +€2.1m | +50.7% |
| Amounts payable after more than one year | 17 | €116,836 | €1,839,999 | +€1.7m | +1,475% |
| Financial debts | 170/4 | €109,750 | €1,817,800 | +€1.7m | +1,556% |
| Other amounts payable | 178/9 | €7,086 | €22,199 | +€15,113 | +213% |
| Amounts payable within one year | 42/48 | €4,000,322 | €4,361,493 | +€361,171 | +9.0% |
| Current portion of amounts payable after more than one year | 42 | €58,867 | €242,450 | +€183,583 | +312% |
| Financial debts | 43 | €792,291 | €871,806 | +€79,514 | +10.0% |
| Credit institutions | 430/8 | €792,291 | €871,790 | +€79,498 | +10.0% |
| Other loans | 439 | - | €16 | +€16 | |
| Trade debts | 44 | €2,028,029 | €2,094,173 | +€66,143 | +3.3% |
| Suppliers | 440/4 | €2,028,029 | €2,094,173 | +€66,143 | +3.3% |
| Advances received on contracts in progress | 46 | €197,439 | €391,881 | +€194,442 | +98.5% |
| Taxes, remuneration and social security | 45 | €161,014 | €130,464 | -€30,550 | -19.0% |
| Taxes | 450/3 | €105,496 | €70,957 | -€34,539 | -32.7% |
| Remuneration and social security | 454/9 | €55,519 | €59,507 | +€3,988 | +7.2% |
| Other amounts payable | 47/48 | €762,680 | €630,719 | -€131,961 | -17.3% |
| Accrued charges and deferred income | 492/3 | €11,148 | €21,599 | +€10,451 | +93.7% |
| Remuneration, social security and pensions | 62 | €340,506 | €529,191 | +€188,684 | +55.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €96,184 | €116,497 | +€20,314 | +21.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €66,055 | €2,200 | -€63,855 | -96.7% |
| Other operating charges | 640/8 | €6,538 | €8,926 | +€2,387 | +36.5% |
| Non-recurring operating charges | 66A | - | €2,540 | +€2,540 | |
| Gross operating margin | 9900 | €909,353 | €1,353,101 | +€443,747 | +48.8% |
| Operating profit (loss) | 9901 | €400,070 | €693,747 | +€293,677 | +73.4% |
| Financial income | 75/76B | €84,507 | €73,107 | -€11,400 | -13.5% |
| Recurring financial income | 75 | €84,507 | €73,107 | -€11,400 | -13.5% |
| Financial charges | 65/66B | €93,763 | €226,260 | +€132,497 | +141% |
| Recurring financial charges | 65 | €93,763 | €226,260 | +€132,497 | +141% |
| Profit (loss) for the period before taxes | 9903 | €390,814 | €540,594 | +€149,780 | +38.3% |
| Income taxes | 67/77 | €111,392 | €126,456 | +€15,063 | +13.5% |
| Profit (loss) for the period | 9904 | €279,421 | €414,138 | +€134,716 | +48.2% |
| Transfer to tax-exempt reserves | 689 | - | €126,300 | +€126,300 | |
| Profit (loss) for the period to be appropriated | 9905 | €279,421 | €287,838 | +€8,416 | +3.0% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.