MATMAU: 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.
MATMAU
Largest movements
- Current investments +€52,500
up €52,500 (+1,313%), from €4,000 to €56,500
- Cash -€33,523
down €33,523 (-24.3%), from €138,022 to €104,499
mainly Debts after one year (-€237,961) and Current investments (-€52,500)
- Debts after one year -€237,961
down €237,961 (-25.3%), from €941,676 to €703,715
of which Financial debts: -€237,961
- Reserves +€182,436
up €182,436 (+306%), from €59,609 to €242,045
- Tax, wage and social debts +€76,217
up €76,217 (+159%), from €47,952 to €124,170
- Accrued charges and deferred income +€60,000
new in 2025: €60,000
- Other debts -€37,638
down €37,638 (-41.4%), from €90,962 to €53,324
- Gross operating margin +€182,526
up €182,526 (+195%), from €93,602 to €276,128
- Taxes +€41,378
up €41,378 (+206%), from €20,050 to €61,428
- Financial charges +€18,608
up €18,608 (+136%), from €13,660 to €32,269
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 | €1,245,395 | €1,263,495 | +€18,101 | +1.5% |
| Fixed assets | 21/28 | €1,102,465 | €1,102,211 | -€254 | 0.0% |
| Tangible fixed assets | 22/27 | €2,465 | €2,211 | -€254 | -10.3% |
| Plant, machinery and equipment | 23 | €2,465 | €2,211 | -€254 | -10.3% |
| Financial fixed assets | 28 | €1,100,000 | €1,100,000 | = | 0.0% |
| Current assets | 29/58 | €142,930 | €161,284 | +€18,354 | +12.8% |
| Amounts receivable within one year | 40/41 | €908 | - | -€908 | |
| Trade receivables | 40 | €908 | - | -€908 | |
| Current investments | 50/53 | €4,000 | €56,500 | +€52,500 | +1,313% |
| Cash at bank and in hand | 54/58 | €138,022 | €104,499 | -€33,523 | -24.3% |
| Deferred charges and accrued income | 490/1 | - | €285 | +€285 | |
| Total equity and liabilities | 10/49 | €1,245,395 | €1,263,495 | +€18,101 | +1.5% |
| Equity | 10/15 | €69,609 | €252,045 | +€182,436 | +262% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €59,609 | €242,045 | +€182,436 | +306% |
| Distributable reserves | 133 | €59,609 | €242,045 | +€182,436 | +306% |
| Amounts payable | 17/49 | €1,175,785 | €1,011,450 | -€164,335 | -14.0% |
| Amounts payable after more than one year | 17 | €941,676 | €703,715 | -€237,961 | -25.3% |
| Financial debts | 170/4 | €866,676 | €628,715 | -€237,961 | -27.5% |
| Other amounts payable | 178/9 | €75,000 | €75,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €234,109 | €247,735 | +€13,626 | +5.8% |
| Current portion of amounts payable after more than one year | 42 | €94,808 | €70,241 | -€24,567 | -25.9% |
| Trade debts | 44 | €387 | - | -€387 | |
| Suppliers | 440/4 | €387 | - | -€387 | |
| Taxes, remuneration and social security | 45 | €47,952 | €124,170 | +€76,217 | +159% |
| Taxes | 450/3 | €47,952 | €124,170 | +€76,217 | +159% |
| Other amounts payable | 47/48 | €90,962 | €53,324 | -€37,638 | -41.4% |
| Accrued charges and deferred income | 492/3 | - | €60,000 | +€60,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €73 | €254 | +€181 | +248% |
| Other operating charges | 640/8 | €387 | €404 | +€17 | +4.3% |
| Gross operating margin | 9900 | €93,602 | €276,128 | +€182,526 | +195% |
| Operating profit (loss) | 9901 | €93,142 | €275,470 | +€182,328 | +196% |
| Financial income | 75/76B | €178 | €663 | +€485 | +272% |
| Recurring financial income | 75 | €178 | €663 | +€485 | +272% |
| Financial charges | 65/66B | €13,660 | €32,269 | +€18,608 | +136% |
| Recurring financial charges | 65 | €13,660 | €32,269 | +€18,608 | +136% |
| Profit (loss) for the period before taxes | 9903 | €79,659 | €243,864 | +€164,205 | +206% |
| Income taxes | 67/77 | €20,050 | €61,428 | +€41,378 | +206% |
| Profit (loss) for the period | 9904 | €59,609 | €182,436 | +€122,826 | +206% |
| Profit (loss) for the period to be appropriated | 9905 | €59,609 | €182,436 | +€122,826 | +206% |
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 24 October 2026 via checked.be.