MATINAL: 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.
MATINAL
Largest movements
- Cash +€14,960
up €14,960 (+34.1%), from €43,892 to €58,851
mainly Debts after one year (+€86,581) and Trade debts (+€41,461)
- Tangible fixed assets -€13,507
down €13,507 (-7.2%), from €186,762 to €173,255
of which Land and buildings: -€8,586
- Intangible fixed assets -€8,031
down €8,031 (-7.9%), from €101,852 to €93,820
- Receivables within one year -€4,288
down €4,288 (-6.6%), from €65,467 to €61,178
of which Other amounts receivable: -€32,951
- Profit (loss) carried forward -€136,003
down €136,003 (-69.1%), from -€196,757 to -€332,760
- Debts after one year +€86,581
up €86,581 (+21.8%), from €396,866 to €483,447
- Trade debts +€41,461
up €41,461 (+58.6%), from €70,718 to €112,178
- Accrued charges and deferred income -€7,605
no longer reported in 2025 (was €7,605)
- Staff costs +€41,274
up €41,274 (+48.9%), from €84,361 to €125,635
- Purchases and services +€41,121
up €41,121 (+15.3%), from €268,840 to €309,962
- Turnover +€23,585
up €23,585 (+7.3%), from €324,397 to €347,981
- Gross operating margin -€16,896
down €16,896 (-30.4%), from €55,556 to €38,660
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 | €408,363 | €393,224 | -€15,139 | -3.7% |
| Fixed assets | 21/28 | €288,781 | €267,242 | -€21,539 | -7.5% |
| Intangible fixed assets | 21 | €101,852 | €93,820 | -€8,031 | -7.9% |
| Tangible fixed assets | 22/27 | €186,762 | €173,255 | -€13,507 | -7.2% |
| Land and buildings | 22 | €161,229 | €152,642 | -€8,586 | -5.3% |
| Plant, machinery and equipment | 23 | €6,575 | €4,535 | -€2,040 | -31.0% |
| Furniture and vehicles | 24 | €18,958 | €16,077 | -€2,881 | -15.2% |
| Financial fixed assets | 28 | €167 | €167 | = | 0.0% |
| Current assets | 29/58 | €119,582 | €125,982 | +€6,400 | +5.4% |
| Stocks and contracts in progress | 3 | €8,923 | €5,560 | -€3,363 | -37.7% |
| Stocks | 30/36 | €8,923 | €5,560 | -€3,363 | -37.7% |
| Amounts receivable within one year | 40/41 | €65,467 | €61,178 | -€4,288 | -6.6% |
| Trade receivables | 40 | €18,922 | €47,584 | +€28,663 | +151.5% |
| Other amounts receivable | 41 | €46,545 | €13,594 | -€32,951 | -70.8% |
| Cash at bank and in hand | 54/58 | €43,892 | €58,851 | +€14,960 | +34.1% |
| Deferred charges and accrued income | 490/1 | €1,301 | €392 | -€909 | -69.9% |
| Total equity and liabilities | 10/49 | €408,363 | €393,224 | -€15,139 | -3.7% |
| Equity | 10/15 | -€75,037 | -€211,040 | -€136,003 | -181.2% |
| Contributions | 10/11 | €121,720 | €121,720 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€196,757 | -€332,760 | -€136,003 | -69.1% |
| Amounts payable | 17/49 | €483,399 | €604,264 | +€120,864 | +25.0% |
| Amounts payable after more than one year | 17 | €396,866 | €483,447 | +€86,581 | +21.8% |
| Financial debts | 170/4 | €396,866 | €483,447 | +€86,581 | +21.8% |
| Amounts payable within one year | 42/48 | €78,929 | €120,817 | +€41,888 | +53.1% |
| Trade debts | 44 | €70,718 | €112,178 | +€41,461 | +58.6% |
| Suppliers | 440/4 | €70,718 | €112,178 | +€41,461 | +58.6% |
| Taxes, remuneration and social security | 45 | €8,211 | €8,639 | +€428 | +5.2% |
| Taxes | 450/3 | €1,235 | €761 | -€474 | -38.4% |
| Remuneration and social security | 454/9 | €6,976 | €7,878 | +€901 | +12.9% |
| Other amounts payable | 47/48 | €0 | - | -€0 | |
| Accrued charges and deferred income | 492/3 | €7,605 | - | -€7,605 | |
| Turnover | 70 | €324,397 | €347,981 | +€23,585 | +7.3% |
| Goods, raw materials, services and sundry goods | 60/61 | €268,840 | €309,962 | +€41,121 | +15.3% |
| Remuneration, social security and pensions | 62 | €84,361 | €125,635 | +€41,274 | +48.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,886 | €28,150 | +€2,263 | +8.7% |
| Other operating charges | 640/8 | €387 | €1,843 | +€1,455 | +375.7% |
| Gross operating margin | 9900 | €55,556 | €38,660 | -€16,896 | -30.4% |
| Operating profit (loss) | 9901 | -€55,079 | -€116,967 | -€61,888 | -112.4% |
| Financial charges | 65/66B | €18,061 | €19,036 | +€975 | +5.4% |
| Recurring financial charges | 65 | €18,061 | €19,036 | +€975 | +5.4% |
| Profit (loss) for the period before taxes | 9903 | -€73,140 | -€136,003 | -€62,863 | -85.9% |
| Profit (loss) for the period | 9904 | -€73,140 | -€136,003 | -€62,863 | -85.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€73,140 | -€136,003 | -€62,863 | -85.9% |
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 10 October 2026 via checked.be.