MATTHELEIN: 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.
MATTHELEIN
Largest movements
- Tangible fixed assets -€131,996
down €131,996 (-5.2%), from €2.5m to €2.4m
of which Land and buildings: -€113,918
- Receivables after one year -€90,000
down €90,000 (-45.0%), from €200,000 to €110,000
- Deferred charges and accrued income +€51,643
up €51,643 (+470%), from €10,995 to €62,638
- Cash +€46,282
up €46,282 (+52.6%), from €88,007 to €134,289
mainly Net result for the year (+€282,877) and Depreciation (+€138,734)
- Reserves +€283,000
up €283,000 (+34.7%), from €815,000 to €1.1m
of which Distributable reserves: +€301,616
- Debts after one year -€236,793
down €236,793 (-41.1%), from €576,655 to €339,862
- Other debts -€115,493
down €115,493 (-8.8%), from €1.3m to €1.2m
- Current portion of long-term debt -€50,000
down €50,000 (-44.7%), from €111,793 to €61,793
- Gross operating margin +€139,266
up €139,266 (+33.5%), from €415,586 to €554,853
- Taxes +€38,304
up €38,304 (+56.4%), from €67,878 to €106,181
- Financial charges -€16,864
down €16,864 (-41.6%), from €40,537 to €23,673
- Depreciation +€14,406
up €14,406 (+11.6%), from €124,328 to €138,734
- Other operating charges -€5,650
down €5,650 (-30.2%), from €18,699 to €13,049
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 | €4,130,467 | €4,038,974 | -€91,493 | -2.2% |
| Fixed assets | 21/28 | €3,827,831 | €3,695,836 | -€131,996 | -3.4% |
| Tangible fixed assets | 22/27 | €2,544,303 | €2,412,308 | -€131,996 | -5.2% |
| Land and buildings | 22 | €2,476,525 | €2,362,607 | -€113,918 | -4.6% |
| Plant, machinery and equipment | 23 | €4,679 | €4,249 | -€429 | -9.2% |
| Furniture and vehicles | 24 | €63,100 | €45,452 | -€17,648 | -28.0% |
| Financial fixed assets | 28 | €1,283,528 | €1,283,528 | = | 0.0% |
| Current assets | 29/58 | €302,636 | €343,138 | +€40,502 | +13.4% |
| Amounts receivable after more than one year | 29 | €200,000 | €110,000 | -€90,000 | -45.0% |
| Other amounts receivable | 291 | €200,000 | €110,000 | -€90,000 | -45.0% |
| Amounts receivable within one year | 40/41 | €3,634 | €36,211 | +€32,577 | +896% |
| Trade receivables | 40 | €3,634 | €16,103 | +€12,470 | +343% |
| Other amounts receivable | 41 | - | €20,108 | +€20,108 | |
| Cash at bank and in hand | 54/58 | €88,007 | €134,289 | +€46,282 | +52.6% |
| Deferred charges and accrued income | 490/1 | €10,995 | €62,638 | +€51,643 | +470% |
| Total equity and liabilities | 10/49 | €4,130,467 | €4,038,974 | -€91,493 | -2.2% |
| Equity | 10/15 | €1,959,434 | €2,242,311 | +€282,877 | +14.4% |
| Contributions | 10/11 | €1,144,238 | €1,144,238 | = | 0.0% |
| Reserves | 13 | €815,000 | €1,098,000 | +€283,000 | +34.7% |
| Tax-exempt reserves | 132 | €374,899 | €356,283 | -€18,616 | -5.0% |
| Distributable reserves | 133 | €440,101 | €741,717 | +€301,616 | +68.5% |
| Profit (loss) carried forward | 14 | €195 | €73 | -€123 | -62.8% |
| Provisions and deferred taxes | 16 | €124,777 | €118,572 | -€6,205 | -5.0% |
| Deferred taxes | 168 | €124,777 | €118,572 | -€6,205 | -5.0% |
| Amounts payable | 17/49 | €2,046,256 | €1,678,091 | -€368,165 | -18.0% |
| Amounts payable after more than one year | 17 | €576,655 | €339,862 | -€236,793 | -41.1% |
| Financial debts | 170/4 | €576,655 | €339,862 | -€236,793 | -41.1% |
| Amounts payable within one year | 42/48 | €1,456,634 | €1,328,527 | -€128,107 | -8.8% |
| Current portion of amounts payable after more than one year | 42 | €111,793 | €61,793 | -€50,000 | -44.7% |
| Trade debts | 44 | €1,685 | €26,003 | +€24,319 | +1,443% |
| Suppliers | 440/4 | €1,685 | €26,003 | +€24,319 | +1,443% |
| Taxes, remuneration and social security | 45 | €27,081 | €40,148 | +€13,067 | +48.3% |
| Taxes | 450/3 | €27,081 | €40,148 | +€13,067 | +48.3% |
| Other amounts payable | 47/48 | €1,316,075 | €1,200,582 | -€115,493 | -8.8% |
| Accrued charges and deferred income | 492/3 | €12,967 | €9,702 | -€3,265 | -25.2% |
| Non-recurring operating income | 76A | €117,055 | - | -€117,055 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €124,328 | €138,734 | +€14,406 | +11.6% |
| Other operating charges | 640/8 | €18,699 | €13,049 | -€5,650 | -30.2% |
| Non-recurring operating charges | 66A | €840 | €468 | -€371 | -44.2% |
| Gross operating margin | 9900 | €415,586 | €554,853 | +€139,266 | +33.5% |
| Operating profit (loss) | 9901 | €271,720 | €402,602 | +€130,881 | +48.2% |
| Financial income | 75/76B | €4,012 | €3,925 | -€87 | -2.2% |
| Recurring financial income | 75 | €4,012 | €3,925 | -€87 | -2.2% |
| Financial charges | 65/66B | €40,537 | €23,673 | -€16,864 | -41.6% |
| Recurring financial charges | 65 | €40,537 | €23,673 | -€16,864 | -41.6% |
| Profit (loss) for the period before taxes | 9903 | €235,195 | €382,853 | +€147,658 | +62.8% |
| Transfer from deferred taxes | 780 | €6,205 | €6,205 | = | 0.0% |
| Income taxes | 67/77 | €67,878 | €106,181 | +€38,304 | +56.4% |
| Profit (loss) for the period | 9904 | €173,523 | €282,877 | +€109,355 | +63.0% |
| Transfer from tax-exempt reserves | 789 | €18,616 | €18,616 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €192,139 | €301,494 | +€109,355 | +56.9% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.