Matubu: 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.
Matubu
Largest movements
- Receivables within one year -€134,313
down €134,313 (-78.6%), from €170,968 to €36,655
of which Other amounts receivable: -€118,555
- Tangible fixed assets -€93,463
down €93,463 (-5.1%), from €1.8m to €1.7m
of which Plant, machinery and equipment: -€107,458
- Debts after one year +€1.1m
up €1.1m (+134.1%), from €801,119 to €1.9m
- Profit (loss) carried forward -€643,615
down €643,615 (-490.5%), from -€131,228 to -€774,844
- Trade debts -€528,720
down €528,720 (-85.6%), from €617,897 to €89,177
- Short-term financial debts -€200,000
down €200,000 (-100.0%), from €200,000 to €0
- Tax, wage and social debts +€66,687
up €66,687 (+343.8%), from €19,396 to €86,083
of which Taxes: +€37,403
- Staff costs +€587,685
up €587,685 (+246.6%), from €238,310 to €825,995
- Gross operating margin +€240,966
up €240,966 (+147.6%), from €163,252 to €404,219
- Depreciation +€91,653
up €91,653 (+86.8%), from €105,627 to €197,280
- Financial charges +€9,903
up €9,903 (+71.3%), from €13,884 to €23,787
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.
Cash bridge derived
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 | €2,074,028 | €1,856,109 | -€217,919 | -10.5% |
| Fixed assets | 21/28 | €1,814,934 | €1,723,671 | -€91,263 | -5.0% |
| Tangible fixed assets | 22/27 | €1,814,934 | €1,721,471 | -€93,463 | -5.1% |
| Plant, machinery and equipment | 23 | €1,692,409 | €1,584,952 | -€107,458 | -6.3% |
| Furniture and vehicles | 24 | €122,524 | €136,520 | +€13,995 | +11.4% |
| Financial fixed assets | 28 | - | €2,200 | +€2,200 | |
| Current assets | 29/58 | €259,094 | €132,438 | -€126,656 | -48.9% |
| Stocks and contracts in progress | 3 | €25,544 | €24,232 | -€1,312 | -5.1% |
| Stocks | 30/36 | €25,544 | €24,232 | -€1,312 | -5.1% |
| Amounts receivable within one year | 40/41 | €170,968 | €36,655 | -€134,313 | -78.6% |
| Trade receivables | 40 | €52,413 | €36,655 | -€15,758 | -30.1% |
| Other amounts receivable | 41 | €118,555 | €0 | -€118,555 | -100.0% |
| Cash at bank and in hand | 54/58 | €62,365 | €55,989 | -€6,376 | -10.2% |
| Deferred charges and accrued income | 490/1 | €217 | €15,563 | +€15,345 | +7057.0% |
| Total equity and liabilities | 10/49 | €2,074,028 | €1,856,109 | -€217,919 | -10.5% |
| Equity | 10/15 | €218,772 | -€424,844 | -€643,615 | |
| Contributions | 10/11 | €350,000 | €350,000 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | -€131,228 | -€774,844 | -€643,615 | -490.5% |
| Amounts payable | 17/49 | €1,855,256 | €2,280,953 | +€425,697 | +22.9% |
| Amounts payable after more than one year | 17 | €801,119 | €1,875,122 | +€1.1m | +134.1% |
| Financial debts | 170/4 | €801,119 | €1,875,122 | +€1.1m | +134.1% |
| Amounts payable within one year | 42/48 | €1,053,332 | €405,831 | -€647,501 | -61.5% |
| Current portion of amounts payable after more than one year | 42 | €66,039 | €68,235 | +€2,195 | +3.3% |
| Financial debts | 43 | €200,000 | €0 | -€200,000 | -100.0% |
| Credit institutions | 430/8 | €200,000 | €0 | -€200,000 | -100.0% |
| Trade debts | 44 | €617,897 | €89,177 | -€528,720 | -85.6% |
| Suppliers | 440/4 | €617,897 | €89,177 | -€528,720 | -85.6% |
| Taxes, remuneration and social security | 45 | €19,396 | €86,083 | +€66,687 | +343.8% |
| Taxes | 450/3 | €4,284 | €41,687 | +€37,403 | +873.1% |
| Remuneration and social security | 454/9 | €15,112 | €44,397 | +€29,284 | +193.8% |
| Other amounts payable | 47/48 | €150,000 | €162,336 | +€12,336 | +8.2% |
| Accrued charges and deferred income | 492/3 | €805 | €0 | -€805 | -100.0% |
| Remuneration, social security and pensions | 62 | €238,310 | €825,995 | +€587,685 | +246.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €105,627 | €197,280 | +€91,653 | +86.8% |
| Other operating charges | 640/8 | €513 | €974 | +€461 | +89.8% |
| Gross operating margin | 9900 | €163,252 | €404,219 | +€240,966 | +147.6% |
| Operating profit (loss) | 9901 | -€181,198 | -€620,030 | -€438,832 | -242.2% |
| Financial income | 75/76B | €129 | €398 | +€270 | +209.6% |
| Recurring financial income | 75 | €129 | €398 | +€270 | +209.6% |
| Financial charges | 65/66B | €13,884 | €23,787 | +€9,903 | +71.3% |
| Recurring financial charges | 65 | €13,884 | €23,787 | +€9,903 | +71.3% |
| Profit (loss) for the period before taxes | 9903 | -€194,953 | -€643,419 | -€448,466 | -230.0% |
| Income taxes | 67/77 | €0 | €197 | +€197 | |
| Profit (loss) for the period | 9904 | -€194,953 | -€643,615 | -€448,662 | -230.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€194,953 | -€643,615 | -€448,662 | -230.1% |
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 11 October 2026 via checked.be.