MATSN: 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.
MATSN
Largest movements
- Receivables within one year +€5,175
up €5,175 (+190%), from €2,723 to €7,899
of which Trade receivables: +€4,600
- Cash +€4,140
up €4,140 (+66.5%), from €6,223 to €10,363
mainly Depreciation (+€4,685) and Other debts (+€3,215)
- Tangible fixed assets -€3,694
down €3,694 (-17.8%), from €20,758 to €17,065
of which Furniture and vehicles: -€3,309
- Deferred charges and accrued income -€653
down €653 (-47.9%), from €1,362 to €709
- Other debts +€3,215
up €3,215 (+22.8%), from €14,125 to €17,340
- Trade debts +€2,656
up €2,656 (+167%), from €1,592 to €4,249
- Tax, wage and social debts -€547
down €547 (-10.1%), from €5,440 to €4,892
- Gross operating margin -€9,418
down €9,418 (-58.3%), from €16,153 to €6,736
- Taxes -€1,939
down €1,939 (-67.1%), from €2,890 to €951
- Depreciation +€1,390
up €1,390 (+42.2%), from €3,295 to €4,685
- Other operating charges +€776
up €776 (+116%), from €667 to €1,443
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 | €33,316 | €38,285 | +€4,968 | +14.9% |
| Fixed assets | 21/28 | €23,008 | €19,315 | -€3,694 | -16.1% |
| Tangible fixed assets | 22/27 | €20,758 | €17,065 | -€3,694 | -17.8% |
| Plant, machinery and equipment | 23 | €3,559 | €3,174 | -€385 | -10.8% |
| Furniture and vehicles | 24 | €17,200 | €13,891 | -€3,309 | -19.2% |
| Financial fixed assets | 28 | €2,250 | €2,250 | = | 0.0% |
| Current assets | 29/58 | €10,308 | €18,970 | +€8,662 | +84.0% |
| Amounts receivable within one year | 40/41 | €2,723 | €7,899 | +€5,175 | +190% |
| Trade receivables | 40 | €1,615 | €6,215 | +€4,600 | +285% |
| Other amounts receivable | 41 | €1,108 | €1,684 | +€576 | +51.9% |
| Cash at bank and in hand | 54/58 | €6,223 | €10,363 | +€4,140 | +66.5% |
| Deferred charges and accrued income | 490/1 | €1,362 | €709 | -€653 | -47.9% |
| Total equity and liabilities | 10/49 | €33,316 | €38,285 | +€4,968 | +14.9% |
| Equity | 10/15 | €12,160 | €11,803 | -€356 | -2.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €9,160 | €8,803 | -€356 | -3.9% |
| Distributable reserves | 133 | €9,160 | €8,803 | -€356 | -3.9% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €21,157 | €26,481 | +€5,325 | +25.2% |
| Amounts payable within one year | 42/48 | €21,157 | €26,481 | +€5,325 | +25.2% |
| Trade debts | 44 | €1,592 | €4,249 | +€2,656 | +167% |
| Suppliers | 440/4 | €1,592 | €4,249 | +€2,656 | +167% |
| Taxes, remuneration and social security | 45 | €5,440 | €4,892 | -€547 | -10.1% |
| Taxes | 450/3 | €5,440 | €4,892 | -€547 | -10.1% |
| Other amounts payable | 47/48 | €14,125 | €17,340 | +€3,215 | +22.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,295 | €4,685 | +€1,390 | +42.2% |
| Other operating charges | 640/8 | €667 | €1,443 | +€776 | +116% |
| Gross operating margin | 9900 | €16,153 | €6,736 | -€9,418 | -58.3% |
| Operating profit (loss) | 9901 | €12,192 | €608 | -€11,584 | -95.0% |
| Financial income | 75/76B | €33 | €0 | -€33 | -100% |
| Recurring financial income | 75 | €33 | €0 | -€33 | -100% |
| Financial charges | 65/66B | €175 | €135 | -€40 | -22.8% |
| Recurring financial charges | 65 | €175 | €135 | -€40 | -22.8% |
| Profit (loss) for the period before taxes | 9903 | €12,050 | €472 | -€11,578 | -96.1% |
| Income taxes | 67/77 | €2,890 | €951 | -€1,939 | -67.1% |
| Profit (loss) for the period | 9904 | €9,160 | -€479 | -€9,639 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,160 | -€479 | -€9,639 |
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 30 October 2026 via checked.be.