MATSTA: 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.
MATSTA
Largest movements
- Receivables within one year -€120,204
down €120,204 (-84.2%), from €142,824 to €22,619
of which Other amounts receivable: -€111,085
- Cash -€47,932
down €47,932 (-89.9%), from €53,305 to €5,372
mainly Debts after one year (-€116,341) and Tax, wage and social debts (-€52,932)
- Tangible fixed assets -€11,729
down €11,729 (-1.5%), from €808,751 to €797,022
of which Land and buildings: -€68,318
- Debts after one year -€116,341
down €116,341 (-18.6%), from €624,301 to €507,960
- Tax, wage and social debts -€52,932
down €52,932 (-84.2%), from €62,872 to €9,939
- Reserves -€30,741
down €30,741 (-15.2%), from €202,761 to €172,020
- Current portion of long-term debt +€17,416
up €17,416 (+50.3%), from €34,592 to €52,008
- Taxes -€8,172
down €8,172 (-47.2%), from €17,324 to €9,152
- Gross operating margin -€7,082
down €7,082 (-7.2%), from €98,261 to €91,179
- Depreciation +€5,336
up €5,336 (+18.4%), from €29,004 to €34,340
- Financial charges +€4,850
up €4,850 (+21.3%), from €22,729 to €27,579
- Financial income -€1,360
down €1,360 (-94.1%), from €1,445 to €85
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 | €1,011,545 | €830,258 | -€181,286 | -17.9% |
| Fixed assets | 21/28 | €808,751 | €797,022 | -€11,729 | -1.5% |
| Tangible fixed assets | 22/27 | €808,751 | €797,022 | -€11,729 | -1.5% |
| Land and buildings | 22 | €796,866 | €728,547 | -€68,318 | -8.6% |
| Plant, machinery and equipment | 23 | €2,276 | €1,969 | -€306 | -13.5% |
| Furniture and vehicles | 24 | €9,610 | €66,505 | +€56,896 | +592% |
| Current assets | 29/58 | €202,793 | €33,236 | -€169,557 | -83.6% |
| Amounts receivable within one year | 40/41 | €142,824 | €22,619 | -€120,204 | -84.2% |
| Trade receivables | 40 | €25,301 | €16,181 | -€9,120 | -36.0% |
| Other amounts receivable | 41 | €117,522 | €6,438 | -€111,085 | -94.5% |
| Cash at bank and in hand | 54/58 | €53,305 | €5,372 | -€47,932 | -89.9% |
| Deferred charges and accrued income | 490/1 | €6,665 | €5,245 | -€1,420 | -21.3% |
| Total equity and liabilities | 10/49 | €1,011,545 | €830,258 | -€181,286 | -17.9% |
| Equity | 10/15 | €247,761 | €217,020 | -€30,741 | -12.4% |
| Contributions | 10/11 | €45,000 | €45,000 | = | 0.0% |
| Reserves | 13 | €202,761 | €172,020 | -€30,741 | -15.2% |
| Distributable reserves | 133 | €202,761 | €172,020 | -€30,741 | -15.2% |
| Amounts payable | 17/49 | €763,784 | €613,238 | -€150,546 | -19.7% |
| Amounts payable after more than one year | 17 | €624,301 | €507,960 | -€116,341 | -18.6% |
| Financial debts | 170/4 | €624,301 | €507,960 | -€116,341 | -18.6% |
| Amounts payable within one year | 42/48 | €128,491 | €99,057 | -€29,433 | -22.9% |
| Current portion of amounts payable after more than one year | 42 | €34,592 | €52,008 | +€17,416 | +50.3% |
| Trade debts | 44 | €3,972 | €1,185 | -€2,787 | -70.2% |
| Suppliers | 440/4 | €3,972 | €1,185 | -€2,787 | -70.2% |
| Taxes, remuneration and social security | 45 | €62,872 | €9,939 | -€52,932 | -84.2% |
| Taxes | 450/3 | €62,872 | €9,939 | -€52,932 | -84.2% |
| Other amounts payable | 47/48 | €27,055 | €35,926 | +€8,871 | +32.8% |
| Accrued charges and deferred income | 492/3 | €10,992 | €6,220 | -€4,772 | -43.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,004 | €34,340 | +€5,336 | +18.4% |
| Other operating charges | 640/8 | €4,470 | €3,469 | -€1,001 | -22.4% |
| Gross operating margin | 9900 | €98,261 | €91,179 | -€7,082 | -7.2% |
| Operating profit (loss) | 9901 | €64,787 | €53,370 | -€11,417 | -17.6% |
| Financial income | 75/76B | €1,445 | €85 | -€1,360 | -94.1% |
| Recurring financial income | 75 | €1,445 | €85 | -€1,360 | -94.1% |
| Financial charges | 65/66B | €22,729 | €27,579 | +€4,850 | +21.3% |
| Recurring financial charges | 65 | €22,729 | €27,579 | +€4,850 | +21.3% |
| Profit (loss) for the period before taxes | 9903 | €43,503 | €25,875 | -€17,627 | -40.5% |
| Income taxes | 67/77 | €17,324 | €9,152 | -€8,172 | -47.2% |
| Profit (loss) for the period | 9904 | €26,178 | €16,724 | -€9,455 | -36.1% |
| Profit (loss) for the period to be appropriated | 9905 | €26,178 | €16,724 | -€9,455 | -36.1% |
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 29 October 2026 via checked.be.