MATFON: what changed
You see two financial years side by side: what moved most in the balance sheet and the result, why the result rose or fell and where the money went.
MATFON
Largest movements
- Financial fixed assets +€285,149
up €285,149 (+81,471%), from €350 to €285,499
- Cash +€54,391
up €54,391 (+1,041%), from €5,224 to €59,616
mainly Net result for the year (+€242,754) and Debts after one year (+€80,483)
- Intangible fixed assets -€36,667
down €36,667 (-100%), from €36,667 to €0
- Tangible fixed assets -€15,266
down €15,266 (-79.4%), from €19,217 to €3,951
of which Other tangible fixed assets: -€10,626
- Reserves +€184,903
new in 2025: €184,903
- Debts after one year +€80,483
up €80,483 (+78.0%), from €103,139 to €183,622
- Profit (loss) carried forward +€57,851
up €57,851, from -€57,851 to €0
- Tax, wage and social debts -€13,791
down €13,791 (-94.8%), from €14,541 to €750
of which Remuneration and social security: -€14,541
- Current portion of long-term debt -€12,615
down €12,615 (-39.9%), from €31,597 to €18,981
- Gross operating margin +€234,458
up €234,458 (+175%), from €134,247 to €368,705
- Staff costs -€78,519
down €78,519 (-65.7%), from €119,578 to €41,059
- Taxes +€68,110
up €68,110 (+18,062%), from €377 to €68,487
- Depreciation -€51,484
down €51,484 (-94.7%), from €54,369 to €2,885
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €137,332 | €421,436 | +€284,103 | +207% |
| Fixed assets | 21/28 | €56,233 | €289,450 | +€233,217 | +415% |
| Intangible fixed assets | 21 | €36,667 | €0 | -€36,667 | -100% |
| Tangible fixed assets | 22/27 | €19,217 | €3,951 | -€15,266 | -79.4% |
| Plant, machinery and equipment | 23 | €696 | €0 | -€696 | -100% |
| Furniture and vehicles | 24 | €7,895 | €3,951 | -€3,944 | -50.0% |
| Other tangible fixed assets | 26 | €10,626 | €0 | -€10,626 | -100% |
| Financial fixed assets | 28 | €350 | €285,499 | +€285,149 | +81,471% |
| Current assets | 29/58 | €81,099 | €131,985 | +€50,887 | +62.7% |
| Amounts receivable within one year | 40/41 | €27,084 | €23,661 | -€3,423 | -12.6% |
| Other amounts receivable | 41 | €27,084 | €23,661 | -€3,423 | -12.6% |
| Current investments | 50/53 | €48,095 | €48,438 | +€344 | +0.7% |
| Cash at bank and in hand | 54/58 | €5,224 | €59,616 | +€54,391 | +1,041% |
| Deferred charges and accrued income | 490/1 | €696 | €271 | -€425 | -61.1% |
| Total equity and liabilities | 10/49 | €137,332 | €421,436 | +€284,103 | +207% |
| Equity | 10/15 | -€27,851 | €214,903 | +€242,754 | |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | - | €184,903 | +€184,903 | |
| Distributable reserves | 133 | - | €184,903 | +€184,903 | |
| Profit (loss) carried forward | 14 | -€57,851 | €0 | +€57,851 | |
| Amounts payable | 17/49 | €165,183 | €206,533 | +€41,349 | +25.0% |
| Amounts payable after more than one year | 17 | €103,139 | €183,622 | +€80,483 | +78.0% |
| Financial debts | 170/4 | €103,139 | €183,622 | +€80,483 | +78.0% |
| Amounts payable within one year | 42/48 | €61,641 | €22,910 | -€38,731 | -62.8% |
| Current portion of amounts payable after more than one year | 42 | €31,597 | €18,981 | -€12,615 | -39.9% |
| Trade debts | 44 | €11,322 | €3,179 | -€8,143 | -71.9% |
| Suppliers | 440/4 | €11,322 | €3,179 | -€8,143 | -71.9% |
| Taxes, remuneration and social security | 45 | €14,541 | €750 | -€13,791 | -94.8% |
| Taxes | 450/3 | - | €750 | +€750 | |
| Remuneration and social security | 454/9 | €14,541 | €0 | -€14,541 | -100% |
| Other amounts payable | 47/48 | €4,182 | €0 | -€4,182 | -100% |
| Accrued charges and deferred income | 492/3 | €403 | €0 | -€403 | -100% |
| Remuneration, social security and pensions | 62 | €119,578 | €41,059 | -€78,519 | -65.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,369 | €2,885 | -€51,484 | -94.7% |
| Other operating charges | 640/8 | €1,196 | €1,078 | -€117 | -9.8% |
| Gross operating margin | 9900 | €134,247 | €368,705 | +€234,458 | +175% |
| Operating profit (loss) | 9901 | -€40,895 | €323,682 | +€364,578 | |
| Financial income | 75/76B | €2,898 | €760 | -€2,138 | -73.8% |
| Recurring financial income | 75 | €2,898 | €760 | -€2,138 | -73.8% |
| Financial charges | 65/66B | €11,605 | €13,201 | +€1,596 | +13.8% |
| Recurring financial charges | 65 | €11,605 | €13,201 | +€1,596 | +13.8% |
| Profit (loss) for the period before taxes | 9903 | -€49,602 | €311,241 | +€360,843 | |
| Income taxes | 67/77 | €377 | €68,487 | +€68,110 | +18,062% |
| Profit (loss) for the period | 9904 | -€49,979 | €242,754 | +€292,733 | |
| Profit (loss) for the period to be appropriated | 9905 | -€49,979 | €242,754 | +€292,733 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.