MATORECA: what changed
MATORECA
Largest movements
- Cash -€70,375
down €70,375 (-35.8%), from €196,310 to €125,934
mainly Receivables within one year (-€35,863) and Trade debts (-€32,560)
- Receivables within one year +€35,863
up €35,863 (+18.6%), from €192,315 to €228,178
of which Trade receivables: +€35,759
- Stocks and contracts +€17,407
up €17,407 (+18.9%), from €92,113 to €109,520
- Tangible fixed assets -€8,983
down €8,983 (-25.1%), from €35,775 to €26,792
of which Leasing and similar rights: -€8,821
- Reserves +€39,743
up €39,743 (+13.1%), from €303,950 to €343,693
of which Distributable reserves: +€39,743
- Trade debts -€32,560
down €32,560 (-56.4%), from €57,721 to €25,161
- Other debts -€26,158
down €26,158 (-48.9%), from €53,456 to €27,299
- Debts after one year -€8,966
down €8,966 (-39.0%), from €23,016 to €14,050
- Gross operating margin +€40,293
up €40,293 (+89.7%), from €44,914 to €85,207
- Taxes +€9,981
up €9,981 (+96.4%), from €10,350 to €20,331
- Depreciation +€3,675
up €3,675 (+60.3%), from €6,097 to €9,772
- Financial income -€1,854
no longer reported in 2025 (was €1,854)
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €517,859 | €492,367 | -€25,492 | -4.9% |
| Fixed assets | 21/28 | €35,775 | €26,792 | -€8,983 | -25.1% |
| Tangible fixed assets | 22/27 | €35,775 | €26,792 | -€8,983 | -25.1% |
| Furniture and vehicles | 24 | €2,302 | €2,141 | -€162 | -7.0% |
| Leasing and similar rights | 25 | €33,473 | €24,652 | -€8,821 | -26.4% |
| Current assets | 29/58 | €482,084 | €465,575 | -€16,509 | -3.4% |
| Stocks and contracts in progress | 3 | €92,113 | €109,520 | +€17,407 | +18.9% |
| Stocks | 30/36 | €92,113 | €109,520 | +€17,407 | +18.9% |
| Amounts receivable within one year | 40/41 | €192,315 | €228,178 | +€35,863 | +18.6% |
| Trade receivables | 40 | €192,315 | €228,074 | +€35,759 | +18.6% |
| Other amounts receivable | 41 | - | €104 | +€104 | |
| Cash at bank and in hand | 54/58 | €196,310 | €125,934 | -€70,375 | -35.8% |
| Deferred charges and accrued income | 490/1 | €1,346 | €1,942 | +€596 | +44.3% |
| Total equity and liabilities | 10/49 | €517,859 | €492,367 | -€25,492 | -4.9% |
| Equity | 10/15 | €331,219 | €370,961 | +€39,743 | +12.0% |
| Contributions | 10/11 | €27,268 | €27,268 | = | 0.0% |
| Reserves | 13 | €303,950 | €343,693 | +€39,743 | +13.1% |
| Non-distributable reserves | 130/1 | €2,727 | €2,727 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,727 | €2,727 | = | 0.0% |
| Distributable reserves | 133 | €301,224 | €340,966 | +€39,743 | +13.2% |
| Amounts payable | 17/49 | €186,640 | €121,406 | -€65,234 | -35.0% |
| Amounts payable after more than one year | 17 | €23,016 | €14,050 | -€8,966 | -39.0% |
| Financial debts | 170/4 | €23,016 | €14,050 | -€8,966 | -39.0% |
| Amounts payable within one year | 42/48 | €163,624 | €107,356 | -€56,268 | -34.4% |
| Current portion of amounts payable after more than one year | 42 | €8,658 | €8,966 | +€308 | +3.6% |
| Trade debts | 44 | €57,721 | €25,161 | -€32,560 | -56.4% |
| Suppliers | 440/4 | €57,721 | €25,161 | -€32,560 | -56.4% |
| Taxes, remuneration and social security | 45 | €43,788 | €45,930 | +€2,142 | +4.9% |
| Taxes | 450/3 | €41,738 | €43,880 | +€2,142 | +5.1% |
| Remuneration and social security | 454/9 | €2,050 | €2,050 | = | 0.0% |
| Other amounts payable | 47/48 | €53,456 | €27,299 | -€26,158 | -48.9% |
| Non-recurring operating income | 76A | €20 | - | -€20 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,097 | €9,772 | +€3,675 | +60.3% |
| Other operating charges | 640/8 | €1,420 | €1,648 | +€227 | +16.0% |
| Gross operating margin | 9900 | €44,914 | €85,207 | +€40,293 | +89.7% |
| Operating profit (loss) | 9901 | €37,397 | €73,787 | +€36,391 | +97.3% |
| Financial income | 75/76B | €1,854 | - | -€1,854 | |
| Recurring financial income | 75 | €1,854 | - | -€1,854 | |
| Financial charges | 65/66B | €1,793 | €1,411 | -€382 | -21.3% |
| Recurring financial charges | 65 | €1,793 | €1,411 | -€382 | -21.3% |
| Profit (loss) for the period before taxes | 9903 | €37,458 | €72,376 | +€34,919 | +93.2% |
| Income taxes | 67/77 | €10,350 | €20,331 | +€9,981 | +96.4% |
| Profit (loss) for the period | 9904 | €27,107 | €52,045 | +€24,938 | +92.0% |
| Profit (loss) for the period to be appropriated | 9905 | €27,107 | €52,045 | +€24,938 | +92.0% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.