MATTHEUS: 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.
MATTHEUS
Largest movements
- Receivables within one year -€633,117
down €633,117 (-80.9%), from €783,044 to €149,927
of which Other amounts receivable: -€571,475
- Stocks and contracts +€344,487
up €344,487 (+12.0%), from €2.9m to €3.2m
- Tangible fixed assets +€188,306
new in 2025: €188,306
- Cash +€58,898
up €58,898 (+38.8%), from €151,614 to €210,512
mainly Receivables within one year (+€633,117) and Net result for the year (+€607,560)
- Profit (loss) carried forward +€607,560
new in 2025: €607,560
- Trade debts -€514,423
down €514,423 (-68.9%), from €746,494 to €232,072
- Other debts -€489,889
down €489,889 (-18.0%), from €2.7m to €2.2m
- Tax, wage and social debts +€275,792
up €275,792 (+1,549%), from €17,806 to €293,599
- Debts after one year +€79,540
new in 2025: €79,540
- Gross operating margin +€703,613
up €703,613 (+504%), from €139,559 to €843,172
- Taxes +€217,042
up €217,042 (+5,263%), from €4,124 to €221,166
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 | €3,809,818 | €3,768,399 | -€41,419 | -1.1% |
| Fixed assets | 21/28 | - | €188,306 | +€188,306 | |
| Tangible fixed assets | 22/27 | - | €188,306 | +€188,306 | |
| Land and buildings | 22 | - | €188,306 | +€188,306 | |
| Current assets | 29/58 | €3,809,818 | €3,580,093 | -€229,725 | -6.0% |
| Stocks and contracts in progress | 3 | €2,873,203 | €3,217,689 | +€344,487 | +12.0% |
| Stocks | 30/36 | €2,873,203 | €3,217,689 | +€344,487 | +12.0% |
| Amounts receivable within one year | 40/41 | €783,044 | €149,927 | -€633,117 | -80.9% |
| Trade receivables | 40 | €77,303 | €15,662 | -€61,642 | -79.7% |
| Other amounts receivable | 41 | €705,741 | €134,266 | -€571,475 | -81.0% |
| Current investments | 50/53 | €1,958 | €1,965 | +€7 | +0.3% |
| Cash at bank and in hand | 54/58 | €151,614 | €210,512 | +€58,898 | +38.8% |
| Total equity and liabilities | 10/49 | €3,809,818 | €3,768,399 | -€41,419 | -1.1% |
| Equity | 10/15 | €330,348 | €937,909 | +€607,560 | +184% |
| Contributions | 10/11 | €65,000 | €65,000 | = | 0.0% |
| Reserves | 13 | €265,348 | €265,348 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,500 | €6,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,500 | €6,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €5,493 | €5,493 | = | 0.0% |
| Distributable reserves | 133 | €253,355 | €253,355 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €607,560 | +€607,560 | |
| Amounts payable | 17/49 | €3,479,470 | €2,830,491 | -€648,979 | -18.7% |
| Amounts payable after more than one year | 17 | - | €79,540 | +€79,540 | |
| Financial debts | 170/4 | - | €79,540 | +€79,540 | |
| Amounts payable within one year | 42/48 | €3,479,470 | €2,750,951 | -€728,519 | -20.9% |
| Trade debts | 44 | €746,494 | €232,072 | -€514,423 | -68.9% |
| Suppliers | 440/4 | €746,494 | €232,072 | -€514,423 | -68.9% |
| Taxes, remuneration and social security | 45 | €17,806 | €293,599 | +€275,792 | +1,549% |
| Taxes | 450/3 | €17,806 | €293,599 | +€275,792 | +1,549% |
| Other amounts payable | 47/48 | €2,715,169 | €2,225,280 | -€489,889 | -18.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €4,648 | +€4,648 | |
| Other operating charges | 640/8 | €2,041 | €5,881 | +€3,840 | +188% |
| Gross operating margin | 9900 | €139,559 | €843,172 | +€703,613 | +504% |
| Operating profit (loss) | 9901 | €137,518 | €832,643 | +€695,126 | +505% |
| Financial income | 75/76B | €1,285 | €6 | -€1,279 | -99.6% |
| Recurring financial income | 75 | €1,285 | €6 | -€1,279 | -99.6% |
| Financial charges | 65/66B | €3,432 | €3,922 | +€490 | +14.3% |
| Recurring financial charges | 65 | €3,432 | €3,922 | +€490 | +14.3% |
| Profit (loss) for the period before taxes | 9903 | €135,371 | €828,727 | +€693,356 | +512% |
| Income taxes | 67/77 | €4,124 | €221,166 | +€217,042 | +5,263% |
| Profit (loss) for the period | 9904 | €131,246 | €607,560 | +€476,314 | +363% |
| Profit (loss) for the period to be appropriated | 9905 | €131,246 | €607,560 | +€476,314 | +363% |
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 25 October 2026 via checked.be.