MATEXI GROUP: 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
MATEXI GROUP
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€1.1m
2024 · -€817,781-€256,601
Equity
€309.3m
2024 · €310.4m-€1.1m
Cash
€43,191
2024 · €80,903-€37,712
Balance sheet total
€435.3m
2024 · €430.2m+€5.1m
Largest movements
Assets
- Receivables within one year +€54.2m
up €54.2m (+149.1%), from €36.4m to €90.6m
of which Other amounts receivable: +€54.2m
- Financial fixed assets -€48.7m
down €48.7m (-12.4%), from €392.9m to €344.1m
Equity and liabilities
- Debts after one year -€48.0m
down €48.0m (-78.8%), from €60.9m to €12.9m
of which Financial debts: -€47.6m
- Current portion of long-term debt +€40.0m
up €40.0m (+704.8%), from €5.7m to €45.7m
- Short-term financial debts +€8.1m
up €8.1m (+17.3%), from €47.1m to €55.2m
- Other debts +€6.0m
up €6.0m (+124.0%), from €4.9m to €10.9m
Income statement
No income-statement line moved by more than 1% of the activity.
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
-€817,781
Other operating charges
-€1,031
Other operating items
+€27,940
Financial income
-€689,628
Financial charges
+€406,119
Result 2025
-€1.1m
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
-€49.3m
Investment
+€49.1m
Financing
+€171,450
Cash 2024
€80,903
From operations (derived)
-€49.3m
Net result for the year
-€1.1m
Receivables within one year
-€54.2m
Smaller working-capital items
-€3,759
Other debts
+€6.0m
Investment (derived)
+€49.1m
Investment in fixed assets (net)
+€49.1m
Financing
+€171,450
Debts after one year
-€48.0m
Current portion of long-term debt
+€40.0m
Short-term financial debts
+€8.1m
Cash 2025
€43,191
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €430,217,032 | €435,269,363 | +€5.1m | +1.2% |
| Formation expenses | 20 | €723,212 | €355,562 | -€367,649 | -50.8% |
| Fixed assets | 21/28 | €392,852,361 | €344,142,458 | -€48.7m | -12.4% |
| Financial fixed assets | 28 | €392,852,361 | €344,142,458 | -€48.7m | -12.4% |
| Affiliated companies | 280/1 | €392,852,361 | €344,142,458 | -€48.7m | -12.4% |
| Participating interests | 280 | €343,930,915 | €343,930,915 | = | 0.0% |
| Amounts receivable | 281 | €48,921,446 | €211,543 | -€48.7m | -99.6% |
| Current assets | 29/58 | €36,641,459 | €90,771,342 | +€54.1m | +147.7% |
| Amounts receivable within one year | 40/41 | €36,373,693 | €90,622,851 | +€54.2m | +149.1% |
| Trade receivables | 40 | €197 | €216 | +€18 | +9.2% |
| Other amounts receivable | 41 | €36,373,496 | €90,622,635 | +€54.2m | +149.1% |
| Cash at bank and in hand | 54/58 | €80,903 | €43,191 | -€37,712 | -46.6% |
| Deferred charges and accrued income | 490/1 | €186,863 | €105,301 | -€81,563 | -43.6% |
| Total equity and liabilities | 10/49 | €430,217,032 | €435,269,363 | +€5.1m | +1.2% |
| Equity | 10/15 | €310,394,829 | €309,320,448 | -€1.1m | -0.3% |
| Contributions | 10/11 | €309,105,915 | €309,105,915 | = | 0.0% |
| Capital | 10 | €309,105,915 | €309,105,915 | = | 0.0% |
| Issued capital | 100 | €309,105,915 | €309,105,915 | = | 0.0% |
| Reserves | 13 | €1,005,335 | €1,005,335 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,005,335 | €1,005,335 | = | 0.0% |
| Legal reserve | 130 | €1,005,335 | €1,005,335 | = | 0.0% |
| Profit (loss) carried forward | 14 | €283,579 | -€790,802 | -€1.1m | |
| Amounts payable | 17/49 | €119,822,203 | €125,948,915 | +€6.1m | +5.1% |
| Amounts payable after more than one year | 17 | €60,911,041 | €12,941,397 | -€48.0m | -78.8% |
| Financial debts | 170/4 | €60,573,541 | €12,941,397 | -€47.6m | -78.6% |
| Subordinated loans | 170 | €1,505,057 | - | -€1.5m | |
| Unsubordinated bonds | 171 | €45,000,000 | - | -€45.0m | |
| Credit institutions | 173 | €10,000,000 | - | -€10.0m | |
| Other loans | 174 | €4,068,484 | €12,941,397 | +€8.9m | +218.1% |
| Other amounts payable | 178/9 | €337,500 | - | -€337,500 | |
| Amounts payable within one year | 42/48 | €57,648,422 | €111,830,986 | +€54.2m | +94.0% |
| Current portion of amounts payable after more than one year | 42 | €5,675,000 | €45,675,000 | +€40.0m | +704.8% |
| Financial debts | 43 | €47,072,295 | €55,213,389 | +€8.1m | +17.3% |
| Other loans | 439 | €47,072,295 | €55,213,389 | +€8.1m | +17.3% |
| Trade debts | 44 | €30,588 | €31,474 | +€886 | +2.9% |
| Suppliers | 440/4 | €30,588 | €31,474 | +€886 | +2.9% |
| Other amounts payable | 47/48 | €4,870,540 | €10,911,123 | +€6.0m | +124.0% |
| Accrued charges and deferred income | 492/3 | €1,262,740 | €1,176,531 | -€86,208 | -6.8% |
| Operating charges | 60/66A | €108,737 | €81,829 | -€26,908 | -24.7% |
| Services and other goods | 61 | €107,644 | €79,704 | -€27,940 | -26.0% |
| Other operating charges | 640/8 | €1,094 | €2,125 | +€1,031 | +94.3% |
| Operating profit (loss) | 9901 | -€108,737 | -€81,829 | +€26,908 | +24.7% |
| Financial income | 75/76B | €6,547,091 | €5,857,464 | -€689,628 | -10.5% |
| Recurring financial income | 75 | €6,547,091 | €5,857,464 | -€689,628 | -10.5% |
| Income from financial fixed assets | 750 | €6,547,091 | €5,857,464 | -€689,628 | -10.5% |
| Other financial income | 752/9 | €0 | €0 | = | 0.0% |
| Financial charges | 65/66B | €7,256,135 | €6,850,016 | -€406,119 | -5.6% |
| Recurring financial charges | 65 | €7,256,135 | €6,850,016 | -€406,119 | -5.6% |
| Debt charges | 650 | €7,256,135 | €6,850,016 | -€406,119 | -5.6% |
| Profit (loss) for the period before taxes | 9903 | -€817,781 | -€1,074,382 | -€256,601 | -31.4% |
| Profit (loss) for the period | 9904 | -€817,781 | -€1,074,382 | -€256,601 | -31.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€817,781 | -€1,074,382 | -€256,601 | -31.4% |
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 9 October 2026 via checked.be.