MATVEC: what changed
Two fiscal 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.
MATVEC
Largest movements
- Receivables within one year -€40,187
down €40,187 (-93.8%), from €42,842 to €2,655
of which Trade receivables: -€42,100
- Cash +€34,922
up €34,922 (+57.3%), from €60,985 to €95,907
mainly Net result for the year (+€51,006) and Receivables within one year (+€40,187)
- Tangible fixed assets +€2,774
up €2,774 (+113.2%), from €2,451 to €5,225
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin +€3,227
up €3,227 (+4.6%), from €69,582 to €72,809
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 | €158,233 | €155,975 | -€2,258 | -1.4% |
| Fixed assets | 21/28 | €2,451 | €5,225 | +€2,774 | +113.2% |
| Tangible fixed assets | 22/27 | €2,451 | €5,225 | +€2,774 | +113.2% |
| Furniture and vehicles | 24 | €2,451 | €5,225 | +€2,774 | +113.2% |
| Current assets | 29/58 | €155,782 | €150,750 | -€5,032 | -3.2% |
| Amounts receivable after more than one year | 29 | €50,000 | €50,000 | = | 0.0% |
| Other amounts receivable | 291 | €50,000 | €50,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €42,842 | €2,655 | -€40,187 | -93.8% |
| Trade receivables | 40 | €42,100 | €0 | -€42,100 | -100.0% |
| Other amounts receivable | 41 | €742 | €2,655 | +€1,913 | +257.7% |
| Cash at bank and in hand | 54/58 | €60,985 | €95,907 | +€34,922 | +57.3% |
| Deferred charges and accrued income | 490/1 | €1,955 | €2,188 | +€233 | +11.9% |
| Total equity and liabilities | 10/49 | €158,233 | €155,975 | -€2,258 | -1.4% |
| Equity | 10/15 | €139,462 | €139,634 | +€173 | +0.1% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €137,462 | €137,634 | +€173 | +0.1% |
| Distributable reserves | 133 | €137,462 | €137,634 | +€173 | +0.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €18,771 | €16,340 | -€2,431 | -13.0% |
| Amounts payable within one year | 42/48 | €18,321 | €16,340 | -€1,981 | -10.8% |
| Trade debts | 44 | €1,102 | €489 | -€613 | -55.6% |
| Suppliers | 440/4 | €1,102 | €489 | -€613 | -55.6% |
| Taxes, remuneration and social security | 45 | €15,933 | €14,707 | -€1,226 | -7.7% |
| Taxes | 450/3 | €13,558 | €12,332 | -€1,226 | -9.0% |
| Remuneration and social security | 454/9 | €2,375 | €2,375 | = | 0.0% |
| Other amounts payable | 47/48 | €1,287 | €1,144 | -€142 | -11.1% |
| Accrued charges and deferred income | 492/3 | €450 | €0 | -€450 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,566 | €2,764 | +€198 | +7.7% |
| Other operating charges | 640/8 | €854 | €771 | -€82 | -9.6% |
| Non-recurring operating charges | 66A | - | €27 | +€27 | |
| Gross operating margin | 9900 | €69,582 | €72,809 | +€3,227 | +4.6% |
| Operating profit (loss) | 9901 | €66,163 | €69,246 | +€3,083 | +4.7% |
| Financial income | 75/76B | €1,415 | €1,415 | -€0 | 0.0% |
| Recurring financial income | 75 | €1,415 | €1,415 | -€0 | 0.0% |
| Financial charges | 65/66B | €46 | €82 | +€36 | +78.4% |
| Recurring financial charges | 65 | €46 | €82 | +€36 | +78.4% |
| Profit (loss) for the period before taxes | 9903 | €67,532 | €70,578 | +€3,047 | +4.5% |
| Income taxes | 67/77 | €18,866 | €19,573 | +€706 | +3.7% |
| Profit (loss) for the period | 9904 | €48,665 | €51,006 | +€2,340 | +4.8% |
| Profit (loss) for the period to be appropriated | 9905 | €48,665 | €51,006 | +€2,340 | +4.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.