MEGA - MAT: 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.
MEGA - MAT
Largest movements
- Cash +€126,094
up €126,094 (+65.5%), from €192,407 to €318,501
mainly Other debts (+€145,175) and Net result for the year (+€119,539)
- Stocks and contracts -€65,223
down €65,223 (-7.5%), from €865,308 to €800,085
- Receivables within one year +€36,872
up €36,872 (+20.5%), from €180,200 to €217,071
of which Trade receivables: +€30,529
- Tangible fixed assets -€31,696
down €31,696 (-41.6%), from €76,255 to €44,559
of which Furniture and vehicles: -€28,266
- Other debts +€145,175
up €145,175 (+4608.7%), from €3,150 to €148,325
- Debts after one year -€43,801
down €43,801 (-68.4%), from €64,077 to €20,276
- Reserves -€26,686
down €26,686 (-4.4%), from €609,027 to €582,341
of which Distributable reserves: -€26,686
- Gross operating margin -€479,531
down €479,531 (-59.0%), from €813,046 to €333,516
- Staff costs -€38,684
down €38,684 (-18.3%), from €211,507 to €172,823
- Depreciation -€27,377
down €27,377 (-46.3%), from €59,073 to €31,696
- Financial income +€24,890
up €24,890 (+67.6%), from €36,834 to €61,723
- Financial charges -€23,356
down €23,356 (-67.0%), from €34,850 to €11,494
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 | €1,320,736 | €1,389,382 | +€68,646 | +5.2% |
| Fixed assets | 21/28 | €79,875 | €48,178 | -€31,696 | -39.7% |
| Tangible fixed assets | 22/27 | €76,255 | €44,559 | -€31,696 | -41.6% |
| Furniture and vehicles | 24 | €61,409 | €33,143 | -€28,266 | -46.0% |
| Other tangible fixed assets | 26 | €14,847 | €11,416 | -€3,430 | -23.1% |
| Financial fixed assets | 28 | €3,620 | €3,620 | = | 0.0% |
| Current assets | 29/58 | €1,240,861 | €1,341,204 | +€100,343 | +8.1% |
| Stocks and contracts in progress | 3 | €865,308 | €800,085 | -€65,223 | -7.5% |
| Stocks | 30/36 | €865,308 | €800,085 | -€65,223 | -7.5% |
| Amounts receivable within one year | 40/41 | €180,200 | €217,071 | +€36,872 | +20.5% |
| Trade receivables | 40 | €173,815 | €204,345 | +€30,529 | +17.6% |
| Other amounts receivable | 41 | €6,385 | €12,727 | +€6,342 | +99.3% |
| Cash at bank and in hand | 54/58 | €192,407 | €318,501 | +€126,094 | +65.5% |
| Deferred charges and accrued income | 490/1 | €2,947 | €5,547 | +€2,599 | +88.2% |
| Total equity and liabilities | 10/49 | €1,320,736 | €1,389,382 | +€68,646 | +5.2% |
| Equity | 10/15 | €942,827 | €916,141 | -€26,686 | -2.8% |
| Contributions | 10/11 | €72,150 | €72,150 | = | 0.0% |
| Capital | 10 | €72,150 | €72,150 | = | 0.0% |
| Issued capital | 100 | €72,150 | €72,150 | = | 0.0% |
| Reserves | 13 | €609,027 | €582,341 | -€26,686 | -4.4% |
| Non-distributable reserves | 130/1 | €7,215 | €7,215 | = | 0.0% |
| Legal reserve | 130 | €7,215 | €7,215 | = | 0.0% |
| Tax-exempt reserves | 132 | €275,316 | €275,316 | = | 0.0% |
| Distributable reserves | 133 | €326,496 | €299,810 | -€26,686 | -8.2% |
| Profit (loss) carried forward | 14 | €261,650 | €261,650 | = | 0.0% |
| Provisions and deferred taxes | 16 | €91,772 | €91,772 | = | 0.0% |
| Deferred taxes | 168 | €91,772 | €91,772 | = | 0.0% |
| Amounts payable | 17/49 | €286,137 | €381,469 | +€95,332 | +33.3% |
| Amounts payable after more than one year | 17 | €64,077 | €20,276 | -€43,801 | -68.4% |
| Financial debts | 170/4 | €64,077 | €20,276 | -€43,801 | -68.4% |
| Amounts payable within one year | 42/48 | €222,060 | €361,194 | +€139,133 | +62.7% |
| Current portion of amounts payable after more than one year | 42 | €48,262 | €43,801 | -€4,461 | -9.2% |
| Trade debts | 44 | €83,875 | €73,122 | -€10,753 | -12.8% |
| Suppliers | 440/4 | €83,875 | €73,122 | -€10,753 | -12.8% |
| Taxes, remuneration and social security | 45 | €86,773 | €95,945 | +€9,172 | +10.6% |
| Taxes | 450/3 | €50,234 | €71,664 | +€21,430 | +42.7% |
| Remuneration and social security | 454/9 | €36,539 | €24,282 | -€12,258 | -33.5% |
| Other amounts payable | 47/48 | €3,150 | €148,325 | +€145,175 | +4608.7% |
| Remuneration, social security and pensions | 62 | €211,507 | €172,823 | -€38,684 | -18.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,073 | €31,696 | -€27,377 | -46.3% |
| Other operating charges | 640/8 | €24,302 | €1,505 | -€22,797 | -93.8% |
| Gross operating margin | 9900 | €813,046 | €333,516 | -€479,531 | -59.0% |
| Operating profit (loss) | 9901 | €518,164 | €127,491 | -€390,673 | -75.4% |
| Financial income | 75/76B | €36,834 | €61,723 | +€24,890 | +67.6% |
| Recurring financial income | 75 | €36,834 | €61,723 | +€24,890 | +67.6% |
| Financial charges | 65/66B | €34,850 | €11,494 | -€23,356 | -67.0% |
| Recurring financial charges | 65 | €34,850 | €11,494 | -€23,356 | -67.0% |
| Profit (loss) for the period before taxes | 9903 | €520,148 | €177,720 | -€342,427 | -65.8% |
| Transfer to deferred taxes | 680 | €91,772 | - | -€91,772 | |
| Income taxes | 67/77 | €49,898 | €58,181 | +€8,283 | +16.6% |
| Profit (loss) for the period | 9904 | €378,478 | €119,539 | -€258,938 | -68.4% |
| Transfer to tax-exempt reserves | 689 | €275,316 | - | -€275,316 | |
| Profit (loss) for the period to be appropriated | 9905 | €103,161 | €119,539 | +€16,378 | +15.9% |
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 7 October 2026 via checked.be.