MATTEO PROJECT: 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.
MATTEO PROJECT
Largest movements
- Receivables within one year +€14,960
up €14,960 (+28.4%), from €52,667 to €67,627
of which Trade receivables: +€19,306
- Cash -€14,681
down €14,681 (-84.9%), from €17,289 to €2,607
mainly Net result for the year (-€30,237) and Investment in fixed assets (net) (-€25,610)
- Tangible fixed assets +€8,489
up €8,489 (+32.8%), from €25,879 to €34,368
of which Leasing and similar rights: +€16,428
- Profit (loss) carried forward -€30,237
down €30,237, from €13,525 to -€16,712
- Trade debts +€27,808
up €27,808 (+49.1%), from €56,585 to €84,393
- Tax, wage and social debts -€9,810
down €9,810 (-91.1%), from €10,769 to €960
- Other debts +€8,254
up €8,254 (+53.6%), from €15,410 to €23,663
- Debts after one year +€7,270
new in 2025: €7,270
- Gross operating margin -€5,024
down €5,024 (-324%), from -€1,548 to -€6,573
- Depreciation +€4,884
up €4,884 (+39.9%), from €12,237 to €17,121
- Other operating charges +€2,534
up €2,534 (+94.4%), from €2,684 to €5,219
- Financial charges +€1,325
new in 2025: €1,325
- Financial income -€421
no longer reported in 2025 (was €421)
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 | €96,289 | €105,118 | +€8,829 | +9.2% |
| Fixed assets | 21/28 | €26,333 | €34,822 | +€8,489 | +32.2% |
| Tangible fixed assets | 22/27 | €25,879 | €34,368 | +€8,489 | +32.8% |
| Furniture and vehicles | 24 | €21,838 | €13,899 | -€7,939 | -36.4% |
| Leasing and similar rights | 25 | €4,041 | €20,469 | +€16,428 | +407% |
| Financial fixed assets | 28 | €454 | €454 | = | 0.0% |
| Current assets | 29/58 | €69,956 | €70,296 | +€340 | +0.5% |
| Amounts receivable within one year | 40/41 | €52,667 | €67,627 | +€14,960 | +28.4% |
| Trade receivables | 40 | €48,321 | €67,627 | +€19,306 | +40.0% |
| Other amounts receivable | 41 | €4,346 | - | -€4,346 | |
| Cash at bank and in hand | 54/58 | €17,289 | €2,607 | -€14,681 | -84.9% |
| Deferred charges and accrued income | 490/1 | - | €61 | +€61 | |
| Total equity and liabilities | 10/49 | €96,289 | €105,118 | +€8,829 | +9.2% |
| Equity | 10/15 | €13,525 | -€16,712 | -€30,237 | |
| Contributions | 10/11 | €0 | - | = | |
| Profit (loss) carried forward | 14 | €13,525 | -€16,712 | -€30,237 | |
| Amounts payable | 17/49 | €82,764 | €121,830 | +€39,066 | +47.2% |
| Amounts payable after more than one year | 17 | - | €7,270 | +€7,270 | |
| Financial debts | 170/4 | - | €7,270 | +€7,270 | |
| Amounts payable within one year | 42/48 | €82,764 | €114,559 | +€31,795 | +38.4% |
| Current portion of amounts payable after more than one year | 42 | - | €5,544 | +€5,544 | |
| Trade debts | 44 | €56,585 | €84,393 | +€27,808 | +49.1% |
| Suppliers | 440/4 | €56,585 | €84,393 | +€27,808 | +49.1% |
| Taxes, remuneration and social security | 45 | €10,769 | €960 | -€9,810 | -91.1% |
| Taxes | 450/3 | €10,769 | €960 | -€9,810 | -91.1% |
| Other amounts payable | 47/48 | €15,410 | €23,663 | +€8,254 | +53.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,237 | €17,121 | +€4,884 | +39.9% |
| Other operating charges | 640/8 | €2,684 | €5,219 | +€2,534 | +94.4% |
| Non-recurring operating charges | 66A | €10 | - | -€10 | |
| Gross operating margin | 9900 | -€1,548 | -€6,573 | -€5,024 | -324% |
| Operating profit (loss) | 9901 | -€16,480 | -€28,912 | -€12,432 | -75.4% |
| Financial income | 75/76B | €421 | - | -€421 | |
| Recurring financial income | 75 | €421 | - | -€421 | |
| Financial charges | 65/66B | - | €1,325 | +€1,325 | |
| Recurring financial charges | 65 | - | €1,325 | +€1,325 | |
| Profit (loss) for the period before taxes | 9903 | -€16,059 | -€30,237 | -€14,178 | -88.3% |
| Profit (loss) for the period | 9904 | -€16,059 | -€30,237 | -€14,178 | -88.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€16,059 | -€30,237 | -€14,178 | -88.3% |
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 13 October 2026 via checked.be.