MATREE: 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.
MATREE
Largest movements
- Cash +€27,742
up €27,742 (+51.4%), from €53,927 to €81,669
mainly Net result for the year (+€38,616) and Other debts (+€34,218)
- Receivables within one year +€10,877
up €10,877 (+851%), from €1,278 to €12,154
of which Trade receivables: +€11,610
- Tangible fixed assets -€4,002
down €4,002 (-47.2%), from €8,480 to €4,478
- Current investments +€1,586
up €1,586 (+3.1%), from €50,392 to €51,978
- Other debts +€34,218
up €34,218 (+323%), from €10,578 to €44,796
- Tax, wage and social debts +€9,546
up €9,546 (+87.6%), from €10,897 to €20,443
of which Taxes: +€9,546
- Reserves -€8,607
down €8,607 (-10.7%), from €80,468 to €71,860
- Gross operating margin +€20,114
up €20,114 (+53.1%), from €37,915 to €58,030
- Taxes +€5,986
up €5,986 (+58.6%), from €10,211 to €16,197
- Financial income +€1,266
up €1,266 (+219%), from €579 to €1,845
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 | €115,764 | €151,499 | +€35,735 | +30.9% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €8,480 | €4,478 | -€4,002 | -47.2% |
| Tangible fixed assets | 22/27 | €8,480 | €4,478 | -€4,002 | -47.2% |
| Furniture and vehicles | 24 | €8,480 | €4,478 | -€4,002 | -47.2% |
| Current assets | 29/58 | €107,284 | €147,022 | +€39,738 | +37.0% |
| Amounts receivable within one year | 40/41 | €1,278 | €12,154 | +€10,877 | +851% |
| Trade receivables | 40 | €545 | €12,154 | +€11,610 | +2,132% |
| Other amounts receivable | 41 | €733 | €0 | -€733 | -100% |
| Current investments | 50/53 | €50,392 | €51,978 | +€1,586 | +3.1% |
| Cash at bank and in hand | 54/58 | €53,927 | €81,669 | +€27,742 | +51.4% |
| Deferred charges and accrued income | 490/1 | €1,687 | €1,220 | -€467 | -27.7% |
| Total equity and liabilities | 10/49 | €115,764 | €151,499 | +€35,735 | +30.9% |
| Equity | 10/15 | €94,115 | €85,508 | -€8,607 | -9.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €80,468 | €71,860 | -€8,607 | -10.7% |
| Distributable reserves | 133 | €80,468 | €71,860 | -€8,607 | -10.7% |
| Profit (loss) carried forward | 14 | €1,248 | €1,248 | = | 0.0% |
| Amounts payable | 17/49 | €21,648 | €65,991 | +€44,343 | +205% |
| Amounts payable within one year | 42/48 | €21,648 | €65,991 | +€44,343 | +205% |
| Trade debts | 44 | €173 | €752 | +€578 | +334% |
| Suppliers | 440/4 | €173 | €752 | +€578 | +334% |
| Taxes, remuneration and social security | 45 | €10,897 | €20,443 | +€9,546 | +87.6% |
| Taxes | 450/3 | €10,897 | €20,443 | +€9,546 | +87.6% |
| Remuneration and social security | 454/9 | €0 | €0 | = | |
| Other amounts payable | 47/48 | €10,578 | €44,796 | +€34,218 | +323% |
| Turnover | 70 | €0 | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €0 | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,674 | €4,002 | +€328 | +8.9% |
| Other operating charges | 640/8 | €899 | €928 | +€30 | +3.3% |
| Gross operating margin | 9900 | €37,915 | €58,030 | +€20,114 | +53.1% |
| Operating profit (loss) | 9901 | €33,343 | €53,099 | +€19,757 | +59.3% |
| Financial income | 75/76B | €579 | €1,845 | +€1,266 | +219% |
| Recurring financial income | 75 | €579 | €1,845 | +€1,266 | +219% |
| Financial charges | 65/66B | €155 | €131 | -€24 | -15.5% |
| Recurring financial charges | 65 | €155 | €131 | -€24 | -15.5% |
| Profit (loss) for the period before taxes | 9903 | €33,766 | €54,813 | +€21,047 | +62.3% |
| Income taxes | 67/77 | €10,211 | €16,197 | +€5,986 | +58.6% |
| Profit (loss) for the period | 9904 | €23,556 | €38,616 | +€15,060 | +63.9% |
| Profit (loss) for the period to be appropriated | 9905 | €23,556 | €38,616 | +€15,060 | +63.9% |
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 14 October 2026 via checked.be.