MATHEL: 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.
MATHEL
Largest movements
- Tangible fixed assets +€9,747
up €9,747 (+2.4%), from €404,239 to €413,987
of which Plant, machinery and equipment: +€24,547
- Profit (loss) carried forward +€7,070
up €7,070 (+8.3%), from -€84,921 to -€77,851
- Other operating charges -€1,179
down €1,179 (-20.2%), from €5,839 to €4,661
- Gross operating margin -€1,038
down €1,038 (-2.5%), from €40,778 to €39,740
- Financial charges -€699
down €699 (-9.9%), from €7,097 to €6,398
- Depreciation -€536
down €536 (-2.4%), from €22,148 to €21,612
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 | €413,444 | €422,672 | +€9,228 | +2.2% |
| Fixed assets | 21/28 | €404,239 | €413,987 | +€9,747 | +2.4% |
| Tangible fixed assets | 22/27 | €404,239 | €413,987 | +€9,747 | +2.4% |
| Land and buildings | 22 | €373,096 | €358,195 | -€14,901 | -4.0% |
| Plant, machinery and equipment | 23 | €28,682 | €53,229 | +€24,547 | +85.6% |
| Furniture and vehicles | 24 | €2,461 | €2,563 | +€102 | +4.1% |
| Current assets | 29/58 | €9,204 | €8,685 | -€519 | -5.6% |
| Amounts receivable within one year | 40/41 | €4,520 | €3,006 | -€1,514 | -33.5% |
| Trade receivables | 40 | €4,507 | €2,303 | -€2,204 | -48.9% |
| Other amounts receivable | 41 | €13 | €703 | +€690 | +5414.4% |
| Cash at bank and in hand | 54/58 | €4,685 | €5,679 | +€995 | +21.2% |
| Total equity and liabilities | 10/49 | €413,444 | €422,672 | +€9,228 | +2.2% |
| Equity | 10/15 | -€64,921 | -€57,851 | +€7,070 | +10.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€84,921 | -€77,851 | +€7,070 | +8.3% |
| Amounts payable | 17/49 | €478,364 | €480,522 | +€2,158 | +0.5% |
| Amounts payable after more than one year | 17 | €441,400 | €442,408 | +€1,008 | +0.2% |
| Financial debts | 170/4 | €221,400 | €197,408 | -€23,992 | -10.8% |
| Other amounts payable | 178/9 | €220,000 | €245,000 | +€25,000 | +11.4% |
| Amounts payable within one year | 42/48 | €31,632 | €34,205 | +€2,573 | +8.1% |
| Current portion of amounts payable after more than one year | 42 | €23,341 | €23,992 | +€651 | +2.8% |
| Trade debts | 44 | €4,768 | €5,983 | +€1,215 | +25.5% |
| Suppliers | 440/4 | €4,768 | €5,983 | +€1,215 | +25.5% |
| Taxes, remuneration and social security | 45 | €0 | €0 | = | |
| Taxes | 450/3 | €0 | €0 | = | |
| Other amounts payable | 47/48 | €3,523 | €4,229 | +€706 | +20.1% |
| Accrued charges and deferred income | 492/3 | €5,332 | €3,910 | -€1,423 | -26.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,148 | €21,612 | -€536 | -2.4% |
| Other operating charges | 640/8 | €5,839 | €4,661 | -€1,179 | -20.2% |
| Non-recurring operating charges | 66A | €29,739 | - | -€29,739 | |
| Gross operating margin | 9900 | €40,778 | €39,740 | -€1,038 | -2.5% |
| Operating profit (loss) | 9901 | -€16,948 | €13,468 | +€30,415 | |
| Financial charges | 65/66B | €7,097 | €6,398 | -€699 | -9.9% |
| Recurring financial charges | 65 | €7,097 | €6,398 | -€699 | -9.9% |
| Profit (loss) for the period before taxes | 9903 | -€24,044 | €7,070 | +€31,114 | |
| Profit (loss) for the period | 9904 | -€24,044 | €7,070 | +€31,114 | |
| Profit (loss) for the period to be appropriated | 9905 | -€24,044 | €7,070 | +€31,114 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.