MATHI MEDICAL: 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.
MATHI MEDICAL
Largest movements
- Receivables within one year +€145,536
up €145,536 (+4,996%), from €2,913 to €148,449
of which Trade receivables: +€141,538
- Stocks and contracts +€100,513
up €100,513 (+94.6%), from €106,293 to €206,806
- Cash -€54,207
down €54,207 (-49.0%), from €110,566 to €56,360
mainly Receivables within one year (-€145,536) and Stocks and contracts (-€100,513)
- Deferred charges and accrued income +€4,537
up €4,537 (+650%), from €698 to €5,235
- Short-term financial debts +€120,380
new in 2025: €120,380
- Profit (loss) carried forward +€86,930
up €86,930, from -€36,825 to €50,105
- Other debts -€50,432
down €50,432 (-95.1%), from €53,053 to €2,621
- Trade debts -€39,181
down €39,181 (-51.3%), from €76,335 to €37,153
- Debts after one year +€38,844
up €38,844 (+40.7%), from €95,363 to €134,207
- Gross operating margin +€152,277
up €152,277, from -€32,010 to €120,267
- Taxes +€16,038
new in 2025: €16,038
- Financial charges +€15,668
up €15,668 (+303%), from €5,176 to €20,844
- Financial income +€3,695
up €3,695 (+603%), from €613 to €4,308
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.
Derived cash bridge
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 | €221,226 | €418,269 | +€197,043 | +89.1% |
| Fixed assets | 21/28 | €755 | €1,420 | +€664 | +87.9% |
| Tangible fixed assets | 22/27 | €755 | €420 | -€336 | -44.4% |
| Plant, machinery and equipment | 23 | €755 | €420 | -€336 | -44.4% |
| Financial fixed assets | 28 | - | €1,000 | +€1,000 | |
| Current assets | 29/58 | €220,470 | €416,849 | +€196,379 | +89.1% |
| Stocks and contracts in progress | 3 | €106,293 | €206,806 | +€100,513 | +94.6% |
| Stocks | 30/36 | €106,293 | €206,806 | +€100,513 | +94.6% |
| Amounts receivable within one year | 40/41 | €2,913 | €148,449 | +€145,536 | +4,996% |
| Trade receivables | 40 | €2,913 | €144,451 | +€141,538 | +4,858% |
| Other amounts receivable | 41 | - | €3,997 | +€3,997 | |
| Cash at bank and in hand | 54/58 | €110,566 | €56,360 | -€54,207 | -49.0% |
| Deferred charges and accrued income | 490/1 | €698 | €5,235 | +€4,537 | +650% |
| Total equity and liabilities | 10/49 | €221,226 | €418,269 | +€197,043 | +89.1% |
| Equity | 10/15 | -€34,825 | €52,105 | +€86,930 | |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€36,825 | €50,105 | +€86,930 | |
| Amounts payable | 17/49 | €256,050 | €366,164 | +€110,113 | +43.0% |
| Amounts payable after more than one year | 17 | €95,363 | €134,207 | +€38,844 | +40.7% |
| Financial debts | 170/4 | €95,363 | €134,207 | +€38,844 | +40.7% |
| Amounts payable within one year | 42/48 | €160,255 | €231,956 | +€71,701 | +44.7% |
| Current portion of amounts payable after more than one year | 42 | €29,637 | €41,156 | +€11,520 | +38.9% |
| Financial debts | 43 | - | €120,380 | +€120,380 | |
| Credit institutions | 430/8 | - | €120,380 | +€120,380 | |
| Trade debts | 44 | €76,335 | €37,153 | -€39,181 | -51.3% |
| Suppliers | 440/4 | €76,335 | €37,153 | -€39,181 | -51.3% |
| Taxes, remuneration and social security | 45 | €1,231 | €30,646 | +€29,415 | +2,390% |
| Taxes | 450/3 | €1,231 | €30,646 | +€29,415 | +2,390% |
| Other amounts payable | 47/48 | €53,053 | €2,621 | -€50,432 | -95.1% |
| Accrued charges and deferred income | 492/3 | €432 | - | -€432 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €252 | €336 | +€84 | +33.4% |
| Other operating charges | 640/8 | - | €428 | +€428 | |
| Gross operating margin | 9900 | -€32,010 | €120,267 | +€152,277 | |
| Operating profit (loss) | 9901 | -€32,262 | €119,504 | +€151,765 | |
| Financial income | 75/76B | €613 | €4,308 | +€3,695 | +603% |
| Recurring financial income | 75 | €613 | €4,308 | +€3,695 | +603% |
| Financial charges | 65/66B | €5,176 | €20,844 | +€15,668 | +303% |
| Recurring financial charges | 65 | €5,176 | €20,844 | +€15,668 | +303% |
| Profit (loss) for the period before taxes | 9903 | -€36,825 | €102,968 | +€139,793 | |
| Income taxes | 67/77 | - | €16,038 | +€16,038 | |
| Profit (loss) for the period | 9904 | -€36,825 | €86,930 | +€123,754 | |
| Profit (loss) for the period to be appropriated | 9905 | -€36,825 | €86,930 | +€123,754 |
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 25 October 2026 via checked.be.