MATVIK: 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.
MATVIK
Largest movements
- Tangible fixed assets +€839,680
up €839,680 (+32.8%), from €2.6m to €3.4m
of which Land and buildings: +€786,005
- Cash -€211,600
no longer reported in 2025 (was €211,600)
mainly Investment in fixed assets (net) (-€1.2m) and Short-term financial debts (-€995,156)
- Short-term financial debts -€995,156
down €995,156 (-99.5%), from €1.0m to €4,844
- Other debts +€921,147
up €921,147 (+26.9%), from €3.4m to €4.3m
- Debts after one year +€479,030
up €479,030 (+24.1%), from €2.0m to €2.5m
- Reserves +€87,295
up €87,295 (+30.6%), from €285,578 to €372,874
of which Distributable reserves: +€89,208
- Gross operating margin +€207,437
up €207,437 (+43.6%), from €475,634 to €683,072
- Depreciation +€193,650
up €193,650 (+104.0%), from €186,288 to €379,938
- Financial charges -€26,305
down €26,305 (-18.4%), from €143,007 to €116,703
- Taxes +€10,120
up €10,120 (+20.3%), from €49,811 to €59,931
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 | €7,174,580 | €7,738,901 | +€564,320 | +7.9% |
| Fixed assets | 21/28 | €5,963,275 | €6,802,955 | +€839,680 | +14.1% |
| Tangible fixed assets | 22/27 | €2,563,275 | €3,402,955 | +€839,680 | +32.8% |
| Land and buildings | 22 | €2,206,256 | €2,992,261 | +€786,005 | +35.6% |
| Plant, machinery and equipment | 23 | €79,352 | €89,493 | +€10,141 | +12.8% |
| Furniture and vehicles | 24 | €277,668 | €321,201 | +€43,533 | +15.7% |
| Financial fixed assets | 28 | €3,400,000 | €3,400,000 | = | 0.0% |
| Current assets | 29/58 | €1,211,305 | €935,946 | -€275,359 | -22.7% |
| Amounts receivable within one year | 40/41 | €994,925 | €928,604 | -€66,321 | -6.7% |
| Trade receivables | 40 | €246,563 | €220,071 | -€26,492 | -10.7% |
| Other amounts receivable | 41 | €748,363 | €708,533 | -€39,830 | -5.3% |
| Cash at bank and in hand | 54/58 | €211,600 | - | -€211,600 | |
| Deferred charges and accrued income | 490/1 | €4,780 | €7,342 | +€2,562 | +53.6% |
| Total equity and liabilities | 10/49 | €7,174,580 | €7,738,901 | +€564,320 | +7.9% |
| Equity | 10/15 | €358,940 | €446,236 | +€87,295 | +24.3% |
| Contributions | 10/11 | €73,362 | €73,362 | = | 0.0% |
| Reserves | 13 | €285,578 | €372,874 | +€87,295 | +30.6% |
| Tax-exempt reserves | 132 | €34,420 | €32,508 | -€1,912 | -5.6% |
| Distributable reserves | 133 | €251,158 | €340,365 | +€89,208 | +35.5% |
| Provisions and deferred taxes | 16 | €11,473 | €10,836 | -€637 | -5.6% |
| Deferred taxes | 168 | €11,473 | €10,836 | -€637 | -5.6% |
| Amounts payable | 17/49 | €6,804,167 | €7,281,829 | +€477,662 | +7.0% |
| Amounts payable after more than one year | 17 | €1,984,361 | €2,463,390 | +€479,030 | +24.1% |
| Financial debts | 170/4 | €1,984,361 | €2,463,390 | +€479,030 | +24.1% |
| Amounts payable within one year | 42/48 | €4,799,138 | €4,818,439 | +€19,301 | +0.4% |
| Current portion of amounts payable after more than one year | 42 | €299,321 | €372,458 | +€73,138 | +24.4% |
| Financial debts | 43 | €1,000,000 | €4,844 | -€995,156 | -99.5% |
| Credit institutions | 430/8 | €1,000,000 | €4,844 | -€995,156 | -99.5% |
| Trade debts | 44 | €43,661 | €32,215 | -€11,446 | -26.2% |
| Suppliers | 440/4 | €43,661 | €32,215 | -€11,446 | -26.2% |
| Taxes, remuneration and social security | 45 | €36,441 | €68,059 | +€31,617 | +86.8% |
| Taxes | 450/3 | €36,441 | €68,059 | +€31,617 | +86.8% |
| Other amounts payable | 47/48 | €3,419,715 | €4,340,862 | +€921,147 | +26.9% |
| Accrued charges and deferred income | 492/3 | €20,668 | - | -€20,668 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €186,288 | €379,938 | +€193,650 | +104.0% |
| Other operating charges | 640/8 | €12,689 | €18,611 | +€5,922 | +46.7% |
| Non-recurring operating charges | 66A | €466 | - | -€466 | |
| Gross operating margin | 9900 | €475,634 | €683,072 | +€207,437 | +43.6% |
| Operating profit (loss) | 9901 | €276,191 | €284,524 | +€8,332 | +3.0% |
| Financial income | 75/76B | €15,585 | €14,123 | -€1,462 | -9.4% |
| Recurring financial income | 75 | €15,585 | €14,123 | -€1,462 | -9.4% |
| Financial charges | 65/66B | €143,007 | €116,703 | -€26,305 | -18.4% |
| Recurring financial charges | 65 | €143,007 | €116,703 | -€26,305 | -18.4% |
| Profit (loss) for the period before taxes | 9903 | €148,769 | €181,944 | +€33,175 | +22.3% |
| Transfer from deferred taxes | 780 | €637 | €637 | = | 0.0% |
| Income taxes | 67/77 | €49,811 | €59,931 | +€10,120 | +20.3% |
| Profit (loss) for the period | 9904 | €99,595 | €122,651 | +€23,055 | +23.1% |
| Transfer from tax-exempt reserves | 789 | €1,912 | €1,912 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €101,507 | €124,563 | +€23,055 | +22.7% |
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.