MATSELLA: 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.
MATSELLA
Largest movements
- Receivables within one year -€41,337
down €41,337 (-31.0%), from €133,440 to €92,102
of which Trade receivables: -€24,197
- Tangible fixed assets -€15,083
down €15,083 (-3.3%), from €454,594 to €439,510
of which Furniture and vehicles: -€18,443
- Deferred charges and accrued income +€7,078
up €7,078 (+225.7%), from €3,136 to €10,214
- Profit (loss) carried forward -€67,955
down €67,955 (-245.9%), from -€27,634 to -€95,589
- Trade debts +€37,846
up €37,846 (+74.4%), from €50,873 to €88,718
- Debts after one year -€10,884
down €10,884 (-47.6%), from €22,884 to €12,000
- Tax, wage and social debts -€6,735
down €6,735 (-16.0%), from €42,123 to €35,388
of which Remuneration and social security: -€12,655
- Current portion of long-term debt -€6,229
down €6,229 (-36.4%), from €17,112 to €10,884
- Staff costs +€24,440
up €24,440 (+6.7%), from €364,540 to €388,980
- Depreciation +€9,875
up €9,875 (+22.9%), from €43,153 to €53,027
- Gross operating margin -€6,899
down €6,899 (-1.7%), from €401,778 to €394,879
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 | €595,712 | €541,827 | -€53,885 | -9.0% |
| Fixed assets | 21/28 | €454,594 | €439,510 | -€15,083 | -3.3% |
| Tangible fixed assets | 22/27 | €454,594 | €439,510 | -€15,083 | -3.3% |
| Land and buildings | 22 | €124,005 | €151,743 | +€27,738 | +22.4% |
| Plant, machinery and equipment | 23 | €27,472 | €20,298 | -€7,175 | -26.1% |
| Furniture and vehicles | 24 | €69,537 | €51,094 | -€18,443 | -26.5% |
| Other tangible fixed assets | 26 | €233,580 | €216,376 | -€17,204 | -7.4% |
| Current assets | 29/58 | €141,118 | €102,316 | -€38,802 | -27.5% |
| Amounts receivable within one year | 40/41 | €133,440 | €92,102 | -€41,337 | -31.0% |
| Trade receivables | 40 | €112,669 | €88,472 | -€24,197 | -21.5% |
| Other amounts receivable | 41 | €20,770 | €3,631 | -€17,140 | -82.5% |
| Cash at bank and in hand | 54/58 | €4,543 | €0 | -€4,543 | -100.0% |
| Deferred charges and accrued income | 490/1 | €3,136 | €10,214 | +€7,078 | +225.7% |
| Total equity and liabilities | 10/49 | €595,712 | €541,827 | -€53,885 | -9.0% |
| Equity | 10/15 | €250,841 | €182,886 | -€67,955 | -27.1% |
| Contributions | 10/11 | €7,300 | €7,300 | = | 0.0% |
| Reserves | 13 | €271,175 | €271,175 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €269,175 | €269,175 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€27,634 | -€95,589 | -€67,955 | -245.9% |
| Amounts payable | 17/49 | €344,871 | €358,941 | +€14,070 | +4.1% |
| Amounts payable after more than one year | 17 | €22,884 | €12,000 | -€10,884 | -47.6% |
| Financial debts | 170/4 | €22,884 | €12,000 | -€10,884 | -47.6% |
| Amounts payable within one year | 42/48 | €306,032 | €333,131 | +€27,099 | +8.9% |
| Current portion of amounts payable after more than one year | 42 | €17,112 | €10,884 | -€6,229 | -36.4% |
| Financial debts | 43 | - | €2,920 | +€2,920 | |
| Credit institutions | 430/8 | - | €2,920 | +€2,920 | |
| Trade debts | 44 | €50,873 | €88,718 | +€37,846 | +74.4% |
| Suppliers | 440/4 | €50,873 | €88,718 | +€37,846 | +74.4% |
| Taxes, remuneration and social security | 45 | €42,123 | €35,388 | -€6,735 | -16.0% |
| Taxes | 450/3 | €5,811 | €11,732 | +€5,921 | +101.9% |
| Remuneration and social security | 454/9 | €36,311 | €23,656 | -€12,655 | -34.9% |
| Other amounts payable | 47/48 | €195,924 | €195,221 | -€704 | -0.4% |
| Accrued charges and deferred income | 492/3 | €15,955 | €13,810 | -€2,145 | -13.4% |
| Non-recurring operating income | 76A | €1,500 | €0 | -€1,500 | -100.0% |
| Remuneration, social security and pensions | 62 | €364,540 | €388,980 | +€24,440 | +6.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,153 | €53,027 | +€9,875 | +22.9% |
| Other operating charges | 640/8 | €3,936 | €3,366 | -€570 | -14.5% |
| Gross operating margin | 9900 | €401,778 | €394,879 | -€6,899 | -1.7% |
| Operating profit (loss) | 9901 | -€9,851 | -€50,495 | -€40,644 | -412.6% |
| Financial income | 75/76B | - | €191 | +€191 | |
| Recurring financial income | 75 | - | €191 | +€191 | |
| Financial charges | 65/66B | €17,746 | €17,434 | -€312 | -1.8% |
| Recurring financial charges | 65 | €17,746 | €17,434 | -€312 | -1.8% |
| Profit (loss) for the period before taxes | 9903 | -€27,597 | -€67,738 | -€40,141 | -145.5% |
| Income taxes | 67/77 | €38 | €217 | +€180 | +477.1% |
| Profit (loss) for the period | 9904 | -€27,634 | -€67,955 | -€40,321 | -145.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€27,634 | -€67,955 | -€40,321 | -145.9% |
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 8 October 2026 via checked.be.