MATEXI PROJECTS: 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.
What changed
MATEXI PROJECTS
NACE 68.121, Development of residential building projects
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€14.4m
2024 · -€14.0m-€445,261
Equity
€49.4m
2024 · €63.8m-€14.4m
Cash
€38,794
2024 · €38,672+€123
Balance sheet total
€243.0m
2024 · €230.1m+€12.9m
Largest movements
Assets
- Stocks and contracts +€10.4m
up €10.4m (+5.0%), from €210.2m to €220.7m
of which Stocks: +€5.3m
- Receivables within one year +€4.2m
up €4.2m (+30.4%), from €13.8m to €18.0m
of which Trade receivables: +€3.0m
Equity and liabilities
- Debts after one year +€33.2m
up €33.2m (+32.0%), from €103.8m to €136.9m
- Profit (loss) carried forward -€14.4m
down €14.4m (-72.6%), from -€19.9m to -€34.3m
- Trade debts -€3.9m
down €3.9m (-8.8%), from €44.5m to €40.6m
Income statement
- Goods and materials +€7.7m
up €7.7m (+4.7%), from €162.8m to €170.5m
of which Change in stocks: decrease (increase): +€12.4m
- Financial charges -€4.4m
down €4.4m (-94.1%), from €4.7m to €275,571
- Services and other goods -€3.0m
down €3.0m (-8.3%), from €36.5m to €33.4m
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
-€14.0m
Turnover
-€738,023
Other operating income
+€962,987
Goods and materials
-€7.7m
Services and other goods
+€3.0m
Staff costs
-€843,423
Depreciation
+€23,039
Write-downs
+€275,514
Provisions
+€240,047
Other operating charges
-€613,117
Other operating items
+€662,698
Financial income
-€125,543
Financial charges
+€4.4m
Taxes
+€1,449
Result 2025
-€14.4m
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
-€34.8m
Investment
+€1.6m
Financing
+€33.2m
Cash 2024
€38,672
From operations (derived)
-€34.8m
Net result for the year
-€14.4m
Depreciation
+€75,556
Smaller working-capital items
+€32,304
Stocks and contracts
-€10.4m
Receivables within one year
-€4.2m
Provisions
+€1.7m
Trade debts
-€3.9m
Tax, wage and social debts
-€1.1m
Advances received
-€2.3m
Accrued charges and deferred income
-€303,913
Investment (derived)
+€1.6m
Investment in fixed assets (net)
+€1.6m
Financing
+€33.2m
Debts after one year
+€33.2m
Short-term financial debts
+€64,158
Cash 2025
€38,794
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €230,064,574 | €243,007,169 | +€12.9m | +5.6% |
| Fixed assets | 21/28 | €4,482,421 | €2,845,185 | -€1.6m | -36.5% |
| Tangible fixed assets | 22/27 | €116,830 | €488,854 | +€372,025 | +318.4% |
| Land and buildings | 22 | €37,139 | €31,659 | -€5,480 | -14.8% |
| Plant, machinery and equipment | 23 | €12,559 | €417,932 | +€405,373 | +3227.8% |
| Furniture and vehicles | 24 | €67,132 | €39,264 | -€27,869 | -41.5% |
| Financial fixed assets | 28 | €4,365,591 | €2,356,331 | -€2.0m | -46.0% |
| Affiliated companies | 280/1 | €1 | €1 | = | 0.0% |
| Participating interests | 280 | €1 | €1 | = | 0.0% |
| Other financial fixed assets | 284/8 | €4,365,590 | €2,356,330 | -€2.0m | -46.0% |
| Amounts receivable and cash guarantees | 285/8 | €4,365,590 | €2,356,330 | -€2.0m | -46.0% |
| Current assets | 29/58 | €225,582,153 | €240,161,984 | +€14.6m | +6.5% |
| Amounts receivable after more than one year | 29 | €1,470,226 | €1,434,924 | -€35,301 | -2.4% |
| Other amounts receivable | 291 | €1,470,226 | €1,434,924 | -€35,301 | -2.4% |
| Stocks and contracts in progress | 3 | €210,228,911 | €220,675,219 | +€10.4m | +5.0% |
| Stocks | 30/36 | €199,388,460 | €204,674,178 | +€5.3m | +2.7% |
| Property held for sale | 35 | €199,388,460 | €204,674,178 | +€5.3m | +2.7% |
| Contracts in progress | 37 | €10,840,451 | €16,001,041 | +€5.2m | +47.6% |
| Amounts receivable within one year | 40/41 | €13,815,002 | €18,013,047 | +€4.2m | +30.4% |
| Trade receivables | 40 | €11,753,002 | €14,736,065 | +€3.0m | +25.4% |
| Other amounts receivable | 41 | €2,062,000 | €3,276,982 | +€1.2m | +58.9% |
| Cash at bank and in hand | 54/58 | €38,672 | €38,794 | +€123 | +0.3% |
| Deferred charges and accrued income | 490/1 | €29,343 | €0 | -€29,343 | -100.0% |
| Total equity and liabilities | 10/49 | €230,064,574 | €243,007,169 | +€12.9m | +5.6% |
| Equity | 10/15 | €63,806,662 | €49,371,581 | -€14.4m | -22.6% |
| Contributions | 10/11 | €80,000,000 | €80,000,000 | = | 0.0% |
| Capital | 10 | €80,000,000 | €80,000,000 | = | 0.0% |
| Issued capital | 100 | €80,000,000 | €80,000,000 | = | 0.0% |
| Reserves | 13 | €3,701,016 | €3,701,016 | = | 0.0% |
| Non-distributable reserves | 130/1 | €425,117 | €425,117 | = | 0.0% |
| Legal reserve | 130 | €425,117 | €425,117 | = | 0.0% |
| Distributable reserves | 133 | €3,275,899 | €3,275,899 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€19,894,355 | -€34,329,436 | -€14.4m | -72.6% |
| Provisions and deferred taxes | 16 | €4,305,488 | €6,046,000 | +€1.7m | +40.4% |
| Provisions for liabilities and charges | 160/5 | €4,305,488 | €6,046,000 | +€1.7m | +40.4% |
| Other liabilities and charges | 164/5 | €4,305,488 | €6,046,000 | +€1.7m | +40.4% |
| Amounts payable | 17/49 | €161,952,425 | €187,589,589 | +€25.6m | +15.8% |
| Amounts payable after more than one year | 17 | €103,755,041 | €136,924,426 | +€33.2m | +32.0% |
| Financial debts | 170/4 | €103,755,041 | €136,924,426 | +€33.2m | +32.0% |
| Other loans | 174 | €103,755,041 | €136,924,426 | +€33.2m | +32.0% |
| Amounts payable within one year | 42/48 | €55,789,831 | €48,561,522 | -€7.2m | -13.0% |
| Financial debts | 43 | €61,611 | €125,769 | +€64,158 | +104.1% |
| Other loans | 439 | €61,611 | €125,769 | +€64,158 | +104.1% |
| Trade debts | 44 | €44,543,455 | €40,618,469 | -€3.9m | -8.8% |
| Suppliers | 440/4 | €44,543,455 | €40,618,469 | -€3.9m | -8.8% |
| Advances received on contracts in progress | 46 | €3,388,565 | €1,123,014 | -€2.3m | -66.9% |
| Taxes, remuneration and social security | 45 | €7,549,495 | €6,479,905 | -€1.1m | -14.2% |
| Taxes | 450/3 | €5,654,936 | €4,455,492 | -€1.2m | -21.2% |
| Remuneration and social security | 454/9 | €1,894,559 | €2,024,413 | +€129,854 | +6.9% |
| Other amounts payable | 47/48 | €246,706 | €214,366 | -€32,340 | -13.1% |
| Accrued charges and deferred income | 492/3 | €2,407,553 | €2,103,640 | -€303,913 | -12.6% |
| Operating income | 70/76A | €204,077,777 | €204,932,110 | +€854,333 | +0.4% |
| Turnover | 70 | €197,516,955 | €196,778,932 | -€738,023 | -0.4% |
| Other operating income | 74 | €4,356,124 | €5,319,111 | +€962,987 | +22.1% |
| Non-recurring operating income | 76A | €2,204,699 | €2,834,067 | +€629,368 | +28.5% |
| Operating charges | 60/66A | €213,713,702 | €219,295,571 | +€5.6m | +2.6% |
| Goods for resale, raw materials and consumables | 60 | €162,809,591 | €170,535,574 | +€7.7m | +4.7% |
| Purchases | 600/8 | €181,393,238 | €176,707,823 | -€4.7m | -2.6% |
| Change in stocks: decrease (increase) | 609 | -€18,583,647 | -€6,172,248 | +€12.4m | +66.8% |
| Services and other goods | 61 | €36,464,730 | €33,436,005 | -€3.0m | -8.3% |
| Remuneration, social security and pensions | 62 | €11,458,256 | €12,301,679 | +€843,423 | +7.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €98,596 | €75,556 | -€23,039 | -23.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €275,514 | - | -€275,514 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €1,980,559 | €1,740,512 | -€240,047 | -12.1% |
| Other operating charges | 640/8 | €593,127 | €1,206,244 | +€613,117 | +103.4% |
| Non-recurring operating charges | 66A | €33,330 | - | -€33,330 | |
| Operating profit (loss) | 9901 | -€9,635,924 | -€14,363,461 | -€4.7m | -49.1% |
| Financial income | 75/76B | €351,686 | €226,144 | -€125,543 | -35.7% |
| Recurring financial income | 75 | €351,686 | €226,144 | -€125,543 | -35.7% |
| Income from financial fixed assets | 750 | €223,831 | €322 | -€223,509 | -99.9% |
| Income from current assets | 751 | €22,599 | €34,783 | +€12,183 | +53.9% |
| Other financial income | 752/9 | €105,256 | €191,039 | +€85,782 | +81.5% |
| Financial charges | 65/66B | €4,681,941 | €275,571 | -€4.4m | -94.1% |
| Recurring financial charges | 65 | €4,681,941 | €275,571 | -€4.4m | -94.1% |
| Debt charges | 650 | €4,647,155 | €184,822 | -€4.5m | -96.0% |
| Other financial charges | 652/9 | €34,786 | €90,748 | +€55,963 | +160.9% |
| Profit (loss) for the period before taxes | 9903 | -€13,966,178 | -€14,412,888 | -€446,710 | -3.2% |
| Income taxes | 67/77 | €23,642 | €22,193 | -€1,449 | -6.1% |
| Taxes | 670/3 | €23,642 | €22,193 | -€1,449 | -6.1% |
| Profit (loss) for the period | 9904 | -€13,989,821 | -€14,435,081 | -€445,261 | -3.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,989,821 | -€14,435,081 | -€445,261 | -3.2% |
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 6 October 2026 via checked.be.