Matthysen Groep: 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.
What changed
Matthysen Groep
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€392,811
2024 · €449,138-€56,326
Equity
€1.3m
2024 · €905,432+€392,811
Cash
€88,680
2024 · €51,391+€37,289
Balance sheet total
€7.5m
2024 · €7.3m+€161,947
Largest movements
Assets
- Receivables within one year +€164,608
up €164,608 (+74.4%), from €221,227 to €385,835
of which Other amounts receivable: +€155,953
Equity and liabilities
- Debts after one year -€450,002
down €450,002 (-9.3%), from €4.9m to €4.4m
of which Financial debts: -€450,002
- Profit (loss) carried forward +€392,811
up €392,811 (+54.1%), from €726,668 to €1.1m
- Other debts +€240,943
up €240,943 (+26.0%), from €926,690 to €1.2m
- Short-term financial debts -€102,548
down €102,548 (-83.3%), from €123,087 to €20,539
Income statement
- Turnover +€495,628
new in 2025: €495,628
- Gross operating margin -€430,904
no longer reported in 2025 (was €430,904)
- Other operating income +€220,696
new in 2025: €220,696
- Services and other goods +€213,162
new in 2025: €213,162
- Financial income -€109,021
down €109,021 (-30.6%), from €355,802 to €246,781
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.
Result 2024
€449,138
Turnover
+€495,628
Other operating income
+€220,696
Goods and materials
-€850
Services and other goods
-€213,162
Staff costs
-€4,979
Depreciation
-€910
Other operating charges
-€945
Other operating items
-€412,225
Financial income
-€109,021
Financial charges
-€5,755
Taxes
-€24,803
Result 2025
€392,811
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€601,969
Investment
-€21,357
Financing
-€543,323
Cash 2024
€51,391
From operations (derived)
+€601,969
Net result for the year
+€392,811
Depreciation
+€65,561
Receivables within one year
-€164,608
Deferred charges and accrued income
-€4,254
Trade debts
+€57,861
Tax, wage and social debts
+€8,128
Other debts
+€240,943
Accrued charges and deferred income
+€5,527
Investment (derived)
-€21,357
Investment in fixed assets (net)
-€21,357
Financing
-€543,323
Debts after one year
-€450,002
Current portion of long-term debt
+€9,227
Short-term financial debts
-€102,548
Cash 2025
€88,680
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,331,760 | €7,493,706 | +€161,947 | +2.2% |
| Fixed assets | 21/28 | €7,058,046 | €7,013,842 | -€44,204 | -0.6% |
| Tangible fixed assets | 22/27 | €2,134,469 | €2,088,766 | -€45,704 | -2.1% |
| Land and buildings | 22 | €2,134,469 | €2,084,375 | -€50,094 | -2.3% |
| Plant, machinery and equipment | 23 | - | €4,390 | +€4,390 | |
| Financial fixed assets | 28 | €4,923,576 | €4,925,076 | +€1,500 | 0.0% |
| Affiliated companies | 280/1 | - | €4,908,148 | +€4.9m | |
| Participating interests | 280 | - | €4,908,148 | +€4.9m | |
| Other financial fixed assets | 284/8 | - | €16,928 | +€16,928 | |
| Amounts receivable and cash guarantees | 285/8 | - | €16,928 | +€16,928 | |
| Current assets | 29/58 | €273,714 | €479,865 | +€206,150 | +75.3% |
| Stocks and contracts in progress | 3 | - | €0 | = | |
| Amounts receivable within one year | 40/41 | €221,227 | €385,835 | +€164,608 | +74.4% |
| Trade receivables | 40 | €56,916 | €65,571 | +€8,655 | +15.2% |
| Other amounts receivable | 41 | €164,310 | €320,263 | +€155,953 | +94.9% |
| Cash at bank and in hand | 54/58 | €51,391 | €88,680 | +€37,289 | +72.6% |
| Deferred charges and accrued income | 490/1 | €1,097 | €5,350 | +€4,254 | +388% |
| Total equity and liabilities | 10/49 | €7,331,760 | €7,493,706 | +€161,947 | +2.2% |
| Equity | 10/15 | €905,432 | €1,298,244 | +€392,811 | +43.4% |
| Contributions | 10/11 | €165,000 | €165,000 | = | 0.0% |
| Reserves | 13 | €13,765 | €13,765 | = | 0.0% |
| Distributable reserves | 133 | €13,765 | €13,765 | = | 0.0% |
| Profit (loss) carried forward | 14 | €726,668 | €1,119,479 | +€392,811 | +54.1% |
| Amounts payable | 17/49 | €6,426,327 | €6,195,463 | -€230,865 | -3.6% |
| Amounts payable after more than one year | 17 | €4,858,448 | €4,408,447 | -€450,002 | -9.3% |
| Financial debts | 170/4 | €4,854,848 | €4,404,847 | -€450,002 | -9.3% |
| Subordinated loans | 170 | - | €1,435,500 | +€1.4m | |
| Credit institutions | 173 | - | €2,825,816 | +€2.8m | |
| Other loans | 174 | - | €143,531 | +€143,531 | |
| Other amounts payable | 178/9 | €3,600 | €3,600 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,484,172 | €1,697,781 | +€213,610 | +14.4% |
| Current portion of amounts payable after more than one year | 42 | €390,775 | €400,002 | +€9,227 | +2.4% |
| Financial debts | 43 | €123,087 | €20,539 | -€102,548 | -83.3% |
| Credit institutions | 430/8 | €123,087 | €20,539 | -€102,548 | -83.3% |
| Trade debts | 44 | €15,130 | €72,991 | +€57,861 | +382% |
| Suppliers | 440/4 | €15,130 | €72,991 | +€57,861 | +382% |
| Taxes, remuneration and social security | 45 | €28,489 | €36,617 | +€8,128 | +28.5% |
| Taxes | 450/3 | €16,044 | €27,475 | +€11,431 | +71.2% |
| Remuneration and social security | 454/9 | €12,445 | €9,142 | -€3,303 | -26.5% |
| Other amounts payable | 47/48 | €926,690 | €1,167,633 | +€240,943 | +26.0% |
| Accrued charges and deferred income | 492/3 | €83,707 | €89,234 | +€5,527 | +6.6% |
| Operating income | 70/76A | - | €735,003 | +€735,003 | |
| Turnover | 70 | - | €495,628 | +€495,628 | |
| Other operating income | 74 | - | €220,696 | +€220,696 | |
| Non-recurring operating income | 76A | €18,680 | €18,680 | = | 0.0% |
| Operating charges | 60/66A | - | €383,696 | +€383,696 | |
| Goods for resale, raw materials and consumables | 60 | - | €850 | +€850 | |
| Purchases | 600/8 | - | €850 | +€850 | |
| Services and other goods | 61 | - | €213,162 | +€213,162 | |
| Remuneration, social security and pensions | 62 | €81,771 | €86,750 | +€4,979 | +6.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €64,651 | €65,561 | +€910 | +1.4% |
| Other operating charges | 640/8 | €12,305 | €13,250 | +€945 | +7.7% |
| Non-recurring operating charges | 66A | €4,123 | €4,123 | = | 0.0% |
| Gross operating margin | 9900 | €430,904 | - | -€430,904 | |
| Operating profit (loss) | 9901 | €268,055 | €351,308 | +€83,253 | +31.1% |
| Financial income | 75/76B | €355,802 | €246,781 | -€109,021 | -30.6% |
| Recurring financial income | 75 | €355,802 | €246,781 | -€109,021 | -30.6% |
| Income from financial fixed assets | 750 | - | €246,749 | +€246,749 | |
| Income from current assets | 751 | - | €32 | +€32 | |
| Other financial income | 752/9 | - | €0 | = | |
| Financial charges | 65/66B | €148,275 | €154,030 | +€5,755 | +3.9% |
| Recurring financial charges | 65 | €148,275 | €154,030 | +€5,755 | +3.9% |
| Debt charges | 650 | - | €154,030 | +€154,030 | |
| Other financial charges | 652/9 | - | €0 | +€0 | |
| Profit (loss) for the period before taxes | 9903 | €475,582 | €444,058 | -€31,523 | -6.6% |
| Income taxes | 67/77 | €26,444 | €51,247 | +€24,803 | +93.8% |
| Taxes | 670/3 | - | €51,247 | +€51,247 | |
| Profit (loss) for the period | 9904 | €449,138 | €392,811 | -€56,326 | -12.5% |
| Profit (loss) for the period to be appropriated | 9905 | €449,138 | €392,811 | -€56,326 | -12.5% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.