Materdak: 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.
What changed
Materdak
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€14,686
2024 · €69,335-€54,649
Equity
€3.8m
2024 · €3.8m+€14,686
Cash
€6,703
2024 · €66,757-€60,054
Balance sheet total
€6.7m
2024 · €6.5m+€246,832
Largest movements
Assets
- Tangible fixed assets +€303,916
up €303,916 (+4.8%), from €6.4m to €6.7m
of which Land and buildings: +€297,879
Equity and liabilities
- Debts after one year +€394,688
up €394,688 (+22.7%), from €1.7m to €2.1m
- Trade debts -€156,859
down €156,859 (-68.6%), from €228,639 to €71,780
- Advances received -€100,356
down €100,356 (-54.3%), from €184,986 to €84,630
- Current portion of long-term debt +€90,573
up €90,573 (+53.7%), from €168,594 to €259,167
Income statement
- Depreciation +€60,396
up €60,396 (+28.3%), from €213,666 to €274,062
- Write-downs -€53,667
down €53,667, from €26,833 to -€26,834
- Turnover +€46,037
up €46,037 (+6.0%), from €772,735 to €818,772
- Other operating charges +€35,223
up €35,223 (+56.3%), from €62,588 to €97,811
- Purchases and services +€30,511
up €30,511 (+9.3%), from €329,433 to €359,944
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.
Result 2024
€69,335
Gross operating margin
+€15,526
Depreciation
-€60,396
Write-downs
+€53,667
Other operating charges
-€35,223
Financial income
+€3
Financial charges
-€25,504
Taxes
-€2,722
Result 2025
€14,686
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.
From operations
+€32,663
Investment
-€577,978
Financing
+€485,261
Cash 2024
€66,757
From operations (derived)
+€32,663
Net result for the year
+€14,686
Depreciation
+€274,062
Receivables within one year
-€2,970
Provisions
-€13,962
Trade debts
-€156,859
Tax, wage and social debts
+€18,062
Advances received
-€100,356
Investment (derived)
-€577,978
Investment in fixed assets (net)
-€577,978
Financing
+€485,261
Debts after one year
+€394,688
Current portion of long-term debt
+€90,573
Cash 2025
€6,703
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,472,168 | €6,719,000 | +€246,832 | +3.8% |
| Fixed assets | 21/28 | €6,395,611 | €6,699,527 | +€303,916 | +4.8% |
| Tangible fixed assets | 22/27 | €6,395,611 | €6,699,527 | +€303,916 | +4.8% |
| Land and buildings | 22 | €6,395,611 | €6,693,490 | +€297,879 | +4.7% |
| Plant, machinery and equipment | 23 | - | €6,037 | +€6,037 | |
| Current assets | 29/58 | €76,557 | €19,473 | -€57,084 | -74.6% |
| Amounts receivable within one year | 40/41 | €9,800 | €12,770 | +€2,970 | +30.3% |
| Trade receivables | 40 | €9,800 | €12,770 | +€2,970 | +30.3% |
| Cash at bank and in hand | 54/58 | €66,757 | €6,703 | -€60,054 | -90.0% |
| Total equity and liabilities | 10/49 | €6,472,168 | €6,719,000 | +€246,832 | +3.8% |
| Equity | 10/15 | €3,832,096 | €3,846,782 | +€14,686 | +0.4% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Capital | 10 | €250,000 | €250,000 | = | 0.0% |
| Issued capital | 100 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €3,582,096 | €3,596,782 | +€14,686 | +0.4% |
| Non-distributable reserves | 130/1 | €25,000 | €25,000 | = | 0.0% |
| Legal reserve | 130 | €25,000 | €25,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €763,289 | €721,404 | -€41,885 | -5.5% |
| Distributable reserves | 133 | €2,793,807 | €2,850,378 | +€56,571 | +2.0% |
| Provisions and deferred taxes | 16 | €254,430 | €240,468 | -€13,962 | -5.5% |
| Deferred taxes | 168 | €254,430 | €240,468 | -€13,962 | -5.5% |
| Amounts payable | 17/49 | €2,385,642 | €2,631,750 | +€246,108 | +10.3% |
| Amounts payable after more than one year | 17 | €1,738,720 | €2,133,408 | +€394,688 | +22.7% |
| Financial debts | 170/4 | €1,738,720 | €2,133,408 | +€394,688 | +22.7% |
| Amounts payable within one year | 42/48 | €646,922 | €498,342 | -€148,580 | -23.0% |
| Current portion of amounts payable after more than one year | 42 | €168,594 | €259,167 | +€90,573 | +53.7% |
| Trade debts | 44 | €228,639 | €71,780 | -€156,859 | -68.6% |
| Suppliers | 440/4 | €228,639 | €71,780 | -€156,859 | -68.6% |
| Advances received on contracts in progress | 46 | €184,986 | €84,630 | -€100,356 | -54.3% |
| Taxes, remuneration and social security | 45 | €64,703 | €82,765 | +€18,062 | +27.9% |
| Taxes | 450/3 | €64,703 | €82,765 | +€18,062 | +27.9% |
| Turnover | 70 | €772,735 | €818,772 | +€46,037 | +6.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €329,433 | €359,944 | +€30,511 | +9.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €213,666 | €274,062 | +€60,396 | +28.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €26,833 | -€26,834 | -€53,667 | |
| Other operating charges | 640/8 | €62,588 | €97,811 | +€35,223 | +56.3% |
| Gross operating margin | 9900 | €443,302 | €458,828 | +€15,526 | +3.5% |
| Operating profit (loss) | 9901 | €140,215 | €113,789 | -€26,426 | -18.8% |
| Financial income | 75/76B | - | €3 | +€3 | |
| Recurring financial income | 75 | - | €3 | +€3 | |
| Non-recurring financial income | 76B | - | €3 | +€3 | |
| Financial charges | 65/66B | €55,532 | €81,036 | +€25,504 | +45.9% |
| Recurring financial charges | 65 | €53,083 | €80,051 | +€26,968 | +50.8% |
| Non-recurring financial charges | 66B | €2,449 | €985 | -€1,464 | -59.8% |
| Profit (loss) for the period before taxes | 9903 | €84,683 | €32,756 | -€51,927 | -61.3% |
| Transfer from deferred taxes | 780 | €13,962 | €13,962 | = | 0.0% |
| Income taxes | 67/77 | €29,310 | €32,032 | +€2,722 | +9.3% |
| Profit (loss) for the period | 9904 | €69,335 | €14,686 | -€54,649 | -78.8% |
| Transfer from tax-exempt reserves | 789 | €41,885 | €41,885 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €111,220 | €56,571 | -€54,649 | -49.1% |
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 10 October 2026 via checked.be.