MATU: 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.
MATU
Largest movements
- Tangible fixed assets +€28,658
up €28,658 (+48.7%), from €58,864 to €87,522
of which Furniture and vehicles: +€29,682
- Receivables within one year +€9,356
up €9,356 (+45.3%), from €20,654 to €30,009
of which Other amounts receivable: +€4,775
- Stocks and contracts +€5,518
up €5,518 (+79.2%), from €6,966 to €12,484
- Cash -€3,723
down €3,723 (-5.8%), from €63,954 to €60,231
mainly Investment in fixed assets (net) (-€38,473) and Receivables within one year (-€9,356)
- Reserves +€38,140
up €38,140 (+2,051%), from €1,860 to €40,000
- Debts after one year +€22,434
up €22,434 (+64.1%), from €35,025 to €57,460
- Profit (loss) carried forward -€13,045
down €13,045 (-71.1%), from €18,346 to €5,300
- Other debts -€6,959
down €6,959 (-13.4%), from €51,996 to €45,037
- Current portion of long-term debt -€2,749
down €2,749 (-16.3%), from €16,845 to €14,096
- Gross operating margin +€23,733
up €23,733 (+74.3%), from €31,922 to €55,655
- Depreciation -€4,381
down €4,381 (-30.9%), from €14,196 to €9,815
- Taxes +€4,316
up €4,316 (+141%), from €3,051 to €7,367
- Other operating charges +€2,410
up €2,410 (+55.0%), from €4,379 to €6,789
- Financial charges +€2,347
up €2,347 (+55.3%), from €4,246 to €6,593
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 | €151,429 | €192,637 | +€41,208 | +27.2% |
| Fixed assets | 21/28 | €58,864 | €87,522 | +€28,658 | +48.7% |
| Tangible fixed assets | 22/27 | €58,864 | €87,522 | +€28,658 | +48.7% |
| Plant, machinery and equipment | 23 | €1,258 | €697 | -€561 | -44.6% |
| Furniture and vehicles | 24 | €56,479 | €86,162 | +€29,682 | +52.6% |
| Other tangible fixed assets | 26 | €1,126 | €663 | -€463 | -41.1% |
| Current assets | 29/58 | €92,565 | €105,115 | +€12,550 | +13.6% |
| Stocks and contracts in progress | 3 | €6,966 | €12,484 | +€5,518 | +79.2% |
| Stocks | 30/36 | €6,966 | €12,484 | +€5,518 | +79.2% |
| Amounts receivable within one year | 40/41 | €20,654 | €30,009 | +€9,356 | +45.3% |
| Trade receivables | 40 | €18,367 | €22,948 | +€4,581 | +24.9% |
| Other amounts receivable | 41 | €2,287 | €7,062 | +€4,775 | +209% |
| Cash at bank and in hand | 54/58 | €63,954 | €60,231 | -€3,723 | -5.8% |
| Deferred charges and accrued income | 490/1 | €992 | €2,391 | +€1,399 | +141% |
| Total equity and liabilities | 10/49 | €151,429 | €192,637 | +€41,208 | +27.2% |
| Equity | 10/15 | €38,806 | €63,900 | +€25,095 | +64.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €40,000 | +€38,140 | +2,051% |
| Distributable reserves | 133 | €1,860 | €40,000 | +€38,140 | +2,051% |
| Profit (loss) carried forward | 14 | €18,346 | €5,300 | -€13,045 | -71.1% |
| Amounts payable | 17/49 | €112,624 | €128,737 | +€16,114 | +14.3% |
| Amounts payable after more than one year | 17 | €35,025 | €57,460 | +€22,434 | +64.1% |
| Financial debts | 170/4 | €35,025 | €57,460 | +€22,434 | +64.1% |
| Amounts payable within one year | 42/48 | €75,721 | €67,802 | -€7,920 | -10.5% |
| Current portion of amounts payable after more than one year | 42 | €16,845 | €14,096 | -€2,749 | -16.3% |
| Trade debts | 44 | €3,372 | €5,138 | +€1,766 | +52.4% |
| Suppliers | 440/4 | €3,372 | €5,138 | +€1,766 | +52.4% |
| Taxes, remuneration and social security | 45 | €3,507 | €3,530 | +€22 | +0.6% |
| Taxes | 450/3 | €3,507 | €3,530 | +€22 | +0.6% |
| Other amounts payable | 47/48 | €51,996 | €45,037 | -€6,959 | -13.4% |
| Accrued charges and deferred income | 492/3 | €1,877 | €3,476 | +€1,599 | +85.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,196 | €9,815 | -€4,381 | -30.9% |
| Other operating charges | 640/8 | €4,379 | €6,789 | +€2,410 | +55.0% |
| Gross operating margin | 9900 | €31,922 | €55,655 | +€23,733 | +74.3% |
| Operating profit (loss) | 9901 | €13,347 | €39,051 | +€25,704 | +193% |
| Financial income | 75/76B | €867 | €4 | -€863 | -99.6% |
| Recurring financial income | 75 | €867 | €4 | -€863 | -99.6% |
| Financial charges | 65/66B | €4,246 | €6,593 | +€2,347 | +55.3% |
| Recurring financial charges | 65 | €4,246 | €6,593 | +€2,347 | +55.3% |
| Profit (loss) for the period before taxes | 9903 | €9,968 | €32,461 | +€22,493 | +226% |
| Income taxes | 67/77 | €3,051 | €7,367 | +€4,316 | +141% |
| Profit (loss) for the period | 9904 | €6,917 | €25,095 | +€18,178 | +263% |
| Profit (loss) for the period to be appropriated | 9905 | €6,917 | €25,095 | +€18,178 | +263% |
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 15 October 2026 via checked.be.