MATET: 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.
MATET
Largest movements
- Tangible fixed assets +€423,591
up €423,591 (+62.1%), from €682,455 to €1.1m
of which Plant, machinery and equipment: +€423,752
- Receivables within one year -€44,194
down €44,194 (-17.5%), from €251,863 to €207,670
of which Trade receivables: -€77,033
- Cash +€37,697
up €37,697 (+150.3%), from €25,074 to €62,772
mainly Debts after one year (+€369,373) and Depreciation (+€186,055)
- Debts after one year +€369,373
up €369,373 (+60.7%), from €608,983 to €978,356
- Current portion of long-term debt +€68,573
up €68,573 (+76.5%), from €89,690 to €158,263
- Profit (loss) carried forward -€25,386
down €25,386 (-22.7%), from €112,074 to €86,689
- Gross operating margin -€79,660
down €79,660 (-37.5%), from €212,357 to €132,697
- Turnover -€39,918
down €39,918 (-10.4%), from €385,129 to €345,210
- Purchases and services +€39,742
up €39,742 (+23.0%), from €172,771 to €212,513
- Financial income +€14,269
up €14,269 (+56.4%), from €25,293 to €39,562
of which Non-recurring financial income: +€13,463
- Financial charges -€5,894
down €5,894 (-32.3%), from €18,263 to €12,369
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 | €965,236 | €1,379,677 | +€414,441 | +42.9% |
| Fixed assets | 21/28 | €682,455 | €1,106,046 | +€423,591 | +62.1% |
| Tangible fixed assets | 22/27 | €682,455 | €1,106,046 | +€423,591 | +62.1% |
| Plant, machinery and equipment | 23 | €682,110 | €1,105,863 | +€423,752 | +62.1% |
| Furniture and vehicles | 24 | €344 | €183 | -€161 | -46.7% |
| Current assets | 29/58 | €282,781 | €273,631 | -€9,150 | -3.2% |
| Stocks and contracts in progress | 3 | €5,844 | €3,190 | -€2,654 | -45.4% |
| Stocks | 30/36 | €5,844 | €3,190 | -€2,654 | -45.4% |
| Amounts receivable within one year | 40/41 | €251,863 | €207,670 | -€44,194 | -17.5% |
| Trade receivables | 40 | €220,348 | €143,315 | -€77,033 | -35.0% |
| Other amounts receivable | 41 | €31,515 | €64,355 | +€32,839 | +104.2% |
| Cash at bank and in hand | 54/58 | €25,074 | €62,772 | +€37,697 | +150.3% |
| Total equity and liabilities | 10/49 | €965,236 | €1,379,677 | +€414,441 | +42.9% |
| Equity | 10/15 | €153,810 | €133,961 | -€19,848 | -12.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €112,074 | €86,689 | -€25,386 | -22.7% |
| Investment grants | 15 | €19,735 | €25,273 | +€5,538 | +28.1% |
| Provisions and deferred taxes | 16 | €7,611 | €8,826 | +€1,216 | +16.0% |
| Deferred taxes | 168 | €7,611 | €8,826 | +€1,216 | +16.0% |
| Amounts payable | 17/49 | €803,816 | €1,236,889 | +€433,073 | +53.9% |
| Amounts payable after more than one year | 17 | €608,983 | €978,356 | +€369,373 | +60.7% |
| Financial debts | 170/4 | €608,983 | €978,356 | +€369,373 | +60.7% |
| Amounts payable within one year | 42/48 | €194,833 | €258,533 | +€63,700 | +32.7% |
| Current portion of amounts payable after more than one year | 42 | €89,690 | €158,263 | +€68,573 | +76.5% |
| Trade debts | 44 | €88,181 | €92,437 | +€4,256 | +4.8% |
| Suppliers | 440/4 | €88,181 | €92,437 | +€4,256 | +4.8% |
| Taxes, remuneration and social security | 45 | €9,447 | - | -€9,447 | |
| Taxes | 450/3 | €9,447 | - | -€9,447 | |
| Other amounts payable | 47/48 | €7,516 | €7,833 | +€317 | +4.2% |
| Turnover | 70 | €385,129 | €345,210 | -€39,918 | -10.4% |
| Goods, raw materials, services and sundry goods | 60/61 | €172,771 | €212,513 | +€39,742 | +23.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €185,397 | €186,055 | +€658 | +0.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €5,000 | - | -€5,000 | |
| Other operating charges | 640/8 | €886 | €166 | -€720 | -81.2% |
| Gross operating margin | 9900 | €212,357 | €132,697 | -€79,660 | -37.5% |
| Operating profit (loss) | 9901 | €21,074 | -€53,524 | -€74,598 | |
| Financial income | 75/76B | €25,293 | €39,562 | +€14,269 | +56.4% |
| Recurring financial income | 75 | €2,327 | €3,133 | +€807 | +34.7% |
| Non-recurring financial income | 76B | €22,967 | €36,429 | +€13,463 | +58.6% |
| Financial charges | 65/66B | €18,263 | €12,369 | -€5,894 | -32.3% |
| Recurring financial charges | 65 | €18,263 | €12,369 | -€5,894 | -32.3% |
| Profit (loss) for the period before taxes | 9903 | €28,105 | -€26,330 | -€54,435 | |
| Transfer from deferred taxes | 780 | €645 | €945 | +€300 | +46.5% |
| Income taxes | 67/77 | €1,172 | - | -€1,172 | |
| Profit (loss) for the period | 9904 | €27,578 | -€25,386 | -€52,963 | |
| Profit (loss) for the period to be appropriated | 9905 | €27,578 | -€25,386 | -€52,963 |
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 4 October 2026 via checked.be.