MATLUC: 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.
MATLUC
Largest movements
- Tangible fixed assets +€85,234
up €85,234 (+170.7%), from €49,919 to €135,152
of which Furniture and vehicles: +€86,090
- Cash +€65,886
up €65,886 (+89.4%), from €73,660 to €139,546
mainly Short-term financial debts (+€1.0m) and Net result for the year (+€203,535)
- Current portion of long-term debt -€1.3m
down €1.3m (-100.0%), from €1.3m to €0
- Short-term financial debts +€1.0m
new in 2025: €1.0m
- Reserves +€203,535
up €203,535 (+97.9%), from €208,000 to €411,535
- Accrued charges and deferred income +€116,278
up €116,278 (+2328.7%), from €4,993 to €121,271
- Gross operating margin +€187,017
up €187,017 (+58.9%), from €317,668 to €504,685
- Financial charges +€140,449
up €140,449 (+2764.0%), from €5,081 to €145,530
- Taxes +€22,479
up €22,479 (+24.2%), from €92,929 to €115,408
- Depreciation +€21,162
up €21,162 (+136.5%), from €15,506 to €36,668
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 | €5,685,462 | €5,805,114 | +€119,652 | +2.1% |
| Fixed assets | 21/28 | €5,377,919 | €5,463,152 | +€85,234 | +1.6% |
| Tangible fixed assets | 22/27 | €49,919 | €135,152 | +€85,234 | +170.7% |
| Furniture and vehicles | 24 | €48,937 | €135,027 | +€86,090 | +175.9% |
| Other tangible fixed assets | 26 | €982 | €126 | -€856 | -87.2% |
| Financial fixed assets | 28 | €5,328,000 | €5,328,000 | = | 0.0% |
| Current assets | 29/58 | €307,543 | €341,962 | +€34,418 | +11.2% |
| Amounts receivable within one year | 40/41 | €233,883 | €202,416 | -€31,467 | -13.5% |
| Trade receivables | 40 | €233,883 | €2,416 | -€231,467 | -99.0% |
| Other amounts receivable | 41 | - | €200,000 | +€200,000 | |
| Cash at bank and in hand | 54/58 | €73,660 | €139,546 | +€65,886 | +89.4% |
| Total equity and liabilities | 10/49 | €5,685,462 | €5,805,114 | +€119,652 | +2.1% |
| Equity | 10/15 | €651,353 | €854,888 | +€203,535 | +31.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €208,000 | €411,535 | +€203,535 | +97.9% |
| Distributable reserves | 133 | €208,000 | €411,535 | +€203,535 | +97.9% |
| Profit (loss) carried forward | 14 | €424,753 | €424,753 | = | 0.0% |
| Amounts payable | 17/49 | €5,034,109 | €4,950,226 | -€83,883 | -1.7% |
| Amounts payable after more than one year | 17 | €3,678,000 | €3,678,000 | = | 0.0% |
| Financial debts | 170/4 | €3,678,000 | €3,678,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,351,116 | €1,150,955 | -€200,161 | -14.8% |
| Current portion of amounts payable after more than one year | 42 | €1,250,000 | €0 | -€1.3m | -100.0% |
| Financial debts | 43 | - | €1,000,000 | +€1.0m | |
| Credit institutions | 430/8 | - | €1,000,000 | +€1.0m | |
| Trade debts | 44 | €1,384 | €9,136 | +€7,752 | +560.1% |
| Suppliers | 440/4 | €1,384 | €9,136 | +€7,752 | +560.1% |
| Taxes, remuneration and social security | 45 | €84,875 | €111,412 | +€26,537 | +31.3% |
| Taxes | 450/3 | €84,875 | €111,412 | +€26,537 | +31.3% |
| Other amounts payable | 47/48 | €14,857 | €30,407 | +€15,550 | +104.7% |
| Accrued charges and deferred income | 492/3 | €4,993 | €121,271 | +€116,278 | +2328.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,506 | €36,668 | +€21,162 | +136.5% |
| Other operating charges | 640/8 | €1,453 | €3,543 | +€2,090 | +143.8% |
| Gross operating margin | 9900 | €317,668 | €504,685 | +€187,017 | +58.9% |
| Operating profit (loss) | 9901 | €300,708 | €464,473 | +€163,765 | +54.5% |
| Financial income | 75/76B | €3,441 | €0 | -€3,441 | -100.0% |
| Recurring financial income | 75 | €3,441 | €0 | -€3,441 | -100.0% |
| Financial charges | 65/66B | €5,081 | €145,530 | +€140,449 | +2764.0% |
| Recurring financial charges | 65 | €5,081 | €145,530 | +€140,449 | +2764.0% |
| Profit (loss) for the period before taxes | 9903 | €299,068 | €318,943 | +€19,875 | +6.6% |
| Income taxes | 67/77 | €92,929 | €115,408 | +€22,479 | +24.2% |
| Profit (loss) for the period | 9904 | €206,140 | €203,535 | -€2,604 | -1.3% |
| Profit (loss) for the period to be appropriated | 9905 | €206,140 | €203,535 | -€2,604 | -1.3% |
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 29 September 2026 via checked.be.