MATEM: 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.
MATEM
Largest movements
- Stocks and contracts +€159,000
up €159,000 (+78.7%), from €202,074 to €361,074
- Receivables within one year +€5,038
new in 2025: €5,038
- Trade debts +€159,000
up €159,000, from €0 to €159,000
- Profit (loss) carried forward -€15,548
down €15,548 (-83.9%), from -€18,534 to -€34,082
- Debts after one year +€9,364
up €9,364 (+4.4%), from €213,180 to €222,544
- Advances received +€6,380
new in 2025: €6,380
- Gross operating margin -€4,213
down €4,213 (-74.0%), from -€5,690 to -€9,902
- Depreciation -€492
down €492 (-100.0%), from €492 to €0
- Financial charges +€288
up €288 (+6.8%), from €4,252 to €4,541
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 | €204,791 | €366,187 | +€161,396 | +78.8% |
| Formation expenses | 20 | €0 | - | = | |
| Current assets | 29/58 | €204,791 | €366,187 | +€161,396 | +78.8% |
| Stocks and contracts in progress | 3 | €202,074 | €361,074 | +€159,000 | +78.7% |
| Stocks | 30/36 | €202,074 | €361,074 | +€159,000 | +78.7% |
| Amounts receivable within one year | 40/41 | - | €5,038 | +€5,038 | |
| Trade receivables | 40 | - | €5,038 | +€5,038 | |
| Cash at bank and in hand | 54/58 | €2,717 | €75 | -€2,642 | -97.2% |
| Total equity and liabilities | 10/49 | €204,791 | €366,187 | +€161,396 | +78.8% |
| Equity | 10/15 | -€8,534 | -€24,082 | -€15,548 | -182.2% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€18,534 | -€34,082 | -€15,548 | -83.9% |
| Amounts payable | 17/49 | €213,325 | €390,269 | +€176,944 | +82.9% |
| Amounts payable after more than one year | 17 | €213,180 | €222,544 | +€9,364 | +4.4% |
| Financial debts | 170/4 | €213,180 | €222,544 | +€9,364 | +4.4% |
| Amounts payable within one year | 42/48 | €145 | €167,725 | +€167,580 | +115604.5% |
| Trade debts | 44 | €0 | €159,000 | +€159,000 | |
| Suppliers | 440/4 | €0 | €159,000 | +€159,000 | |
| Advances received on contracts in progress | 46 | - | €6,380 | +€6,380 | |
| Taxes, remuneration and social security | 45 | - | €101 | +€101 | |
| Taxes | 450/3 | - | €101 | +€101 | |
| Other amounts payable | 47/48 | €145 | €2,245 | +€2,100 | +1448.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €492 | €0 | -€492 | -100.0% |
| Other operating charges | 640/8 | €1,074 | €1,105 | +€31 | +2.9% |
| Gross operating margin | 9900 | -€5,690 | -€9,902 | -€4,213 | -74.0% |
| Operating profit (loss) | 9901 | -€7,256 | -€11,007 | -€3,752 | -51.7% |
| Financial charges | 65/66B | €4,252 | €4,541 | +€288 | +6.8% |
| Recurring financial charges | 65 | €4,252 | €4,541 | +€288 | +6.8% |
| Profit (loss) for the period before taxes | 9903 | -€11,508 | -€15,548 | -€4,040 | -35.1% |
| Profit (loss) for the period | 9904 | -€11,508 | -€15,548 | -€4,040 | -35.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,508 | -€15,548 | -€4,040 | -35.1% |
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 5 October 2026 via checked.be.