MATRIX CONSTRUCT: 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.
MATRIX CONSTRUCT
Largest movements
- Receivables within one year -€64,614
down €64,614 (-38.0%), from €169,926 to €105,312
of which Trade receivables: -€65,717
- Cash +€20,325
up €20,325 (+60.3%), from €33,716 to €54,041
mainly Receivables within one year (+€64,614) and Depreciation (+€10,012)
- Tangible fixed assets -€10,012
down €10,012 (-44.7%), from €22,397 to €12,385
- Trade debts -€26,706
down €26,706 (-50.0%), from €53,458 to €26,752
- Tax, wage and social debts -€17,268
down €17,268 (-37.5%), from €46,064 to €28,796
of which Remuneration and social security: -€17,013
- Debts after one year -€6,777
down €6,777 (-24.9%), from €27,262 to €20,485
- Current portion of long-term debt -€5,399
down €5,399 (-36.3%), from €14,876 to €9,477
- Purchases and services -€174,186
down €174,186 (-37.2%), from €467,949 to €293,763
- Gross operating margin -€11,617
down €11,617 (-42.6%), from €27,296 to €15,679
- Depreciation -€3,337
down €3,337 (-25.0%), from €13,349 to €10,012
- Other operating charges -€681
down €681 (-61.4%), from €1,108 to €427
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 | €226,039 | €171,738 | -€54,301 | -24.0% |
| Fixed assets | 21/28 | €22,397 | €12,385 | -€10,012 | -44.7% |
| Tangible fixed assets | 22/27 | €22,397 | €12,385 | -€10,012 | -44.7% |
| Furniture and vehicles | 24 | €22,397 | €12,385 | -€10,012 | -44.7% |
| Current assets | 29/58 | €203,642 | €159,353 | -€44,289 | -21.7% |
| Amounts receivable within one year | 40/41 | €169,926 | €105,312 | -€64,614 | -38.0% |
| Trade receivables | 40 | €120,782 | €55,065 | -€65,717 | -54.4% |
| Other amounts receivable | 41 | €49,143 | €50,247 | +€1,103 | +2.2% |
| Cash at bank and in hand | 54/58 | €33,716 | €54,041 | +€20,325 | +60.3% |
| Total equity and liabilities | 10/49 | €226,039 | €171,738 | -€54,301 | -24.0% |
| Equity | 10/15 | €84,380 | €86,229 | +€1,849 | +2.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €76,320 | €78,169 | +€1,849 | +2.4% |
| Amounts payable | 17/49 | €141,659 | €85,509 | -€56,150 | -39.6% |
| Amounts payable after more than one year | 17 | €27,262 | €20,485 | -€6,777 | -24.9% |
| Financial debts | 170/4 | €27,262 | €20,485 | -€6,777 | -24.9% |
| Amounts payable within one year | 42/48 | €114,397 | €65,024 | -€49,373 | -43.2% |
| Current portion of amounts payable after more than one year | 42 | €14,876 | €9,477 | -€5,399 | -36.3% |
| Trade debts | 44 | €53,458 | €26,752 | -€26,706 | -50.0% |
| Suppliers | 440/4 | €53,458 | €26,752 | -€26,706 | -50.0% |
| Taxes, remuneration and social security | 45 | €46,064 | €28,796 | -€17,268 | -37.5% |
| Taxes | 450/3 | €19,931 | €19,676 | -€255 | -1.3% |
| Remuneration and social security | 454/9 | €26,133 | €9,120 | -€17,013 | -65.1% |
| Goods, raw materials, services and sundry goods | 60/61 | €467,949 | €293,763 | -€174,186 | -37.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,349 | €10,012 | -€3,337 | -25.0% |
| Other operating charges | 640/8 | €1,108 | €427 | -€681 | -61.4% |
| Gross operating margin | 9900 | €27,296 | €15,679 | -€11,617 | -42.6% |
| Operating profit (loss) | 9901 | €12,839 | €5,240 | -€7,599 | -59.2% |
| Financial charges | 65/66B | €95 | €130 | +€35 | +37.2% |
| Recurring financial charges | 65 | €95 | €130 | +€35 | +37.2% |
| Profit (loss) for the period before taxes | 9903 | €12,744 | €5,110 | -€7,634 | -59.9% |
| Income taxes | 67/77 | €3,516 | €3,261 | -€255 | -7.3% |
| Profit (loss) for the period | 9904 | €9,228 | €1,849 | -€7,379 | -80.0% |
| Profit (loss) for the period to be appropriated | 9905 | €9,228 | €1,849 | -€7,379 | -80.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 November 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.