V.V. Mat: 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.
V.V. Mat
Largest movements
- Tangible fixed assets +€37,387
up €37,387 (+17.1%), from €219,084 to €256,471
- Receivables within one year -€24,822
down €24,822 (-34.0%), from €73,093 to €48,272
of which Trade receivables: -€42,990
- Cash +€16,284
up €16,284 (+24.0%), from €67,941 to €84,225
mainly Net result for the year (+€55,425) and Depreciation (+€32,613)
- Reserves +€55,425
up €55,425 (+38.6%), from €143,642 to €199,067
of which Tax-exempt reserves: +€30,311
- Current portion of long-term debt -€17,800
down €17,800 (-52.7%), from €33,800 to €16,000
- Debts after one year -€16,000
down €16,000 (-16.7%), from €96,000 to €80,000
- Provisions +€10,104
up €10,104 (+67.5%), from €14,974 to €25,077
- Gross operating margin +€60,659
up €60,659 (+119%), from €50,931 to €111,590
- Taxes +€4,205
up €4,205 (+55.7%), from €7,549 to €11,753
- Depreciation +€3,973
up €3,973 (+13.9%), from €28,640 to €32,613
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 | €370,851 | €397,953 | +€27,102 | +7.3% |
| Fixed assets | 21/28 | €219,134 | €256,521 | +€37,387 | +17.1% |
| Tangible fixed assets | 22/27 | €219,084 | €256,471 | +€37,387 | +17.1% |
| Plant, machinery and equipment | 23 | €219,084 | €256,471 | +€37,387 | +17.1% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €151,717 | €141,432 | -€10,286 | -6.8% |
| Stocks and contracts in progress | 3 | €8,696 | €6,289 | -€2,407 | -27.7% |
| Stocks | 30/36 | €8,696 | €6,289 | -€2,407 | -27.7% |
| Amounts receivable within one year | 40/41 | €73,093 | €48,272 | -€24,822 | -34.0% |
| Trade receivables | 40 | €72,990 | €30,000 | -€42,990 | -58.9% |
| Other amounts receivable | 41 | €103 | €18,272 | +€18,168 | +17,591% |
| Cash at bank and in hand | 54/58 | €67,941 | €84,225 | +€16,284 | +24.0% |
| Deferred charges and accrued income | 490/1 | €1,988 | €2,647 | +€659 | +33.1% |
| Total equity and liabilities | 10/49 | €370,851 | €397,953 | +€27,102 | +7.3% |
| Equity | 10/15 | €194,952 | €250,377 | +€55,425 | +28.4% |
| Contributions | 10/11 | €6,205 | €6,205 | = | 0.0% |
| Reserves | 13 | €143,642 | €199,067 | +€55,425 | +38.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €44,921 | €75,231 | +€30,311 | +67.5% |
| Distributable reserves | 133 | €96,862 | €121,976 | +€25,114 | +25.9% |
| Profit (loss) carried forward | 14 | €45,104 | €45,104 | = | 0.0% |
| Provisions and deferred taxes | 16 | €14,974 | €25,077 | +€10,104 | +67.5% |
| Deferred taxes | 168 | €14,974 | €25,077 | +€10,104 | +67.5% |
| Amounts payable | 17/49 | €160,926 | €122,499 | -€38,427 | -23.9% |
| Amounts payable after more than one year | 17 | €96,000 | €80,000 | -€16,000 | -16.7% |
| Financial debts | 170/4 | €96,000 | €80,000 | -€16,000 | -16.7% |
| Amounts payable within one year | 42/48 | €64,926 | €42,499 | -€22,427 | -34.5% |
| Current portion of amounts payable after more than one year | 42 | €33,800 | €16,000 | -€17,800 | -52.7% |
| Trade debts | 44 | €17,457 | €18,927 | +€1,470 | +8.4% |
| Suppliers | 440/4 | €17,457 | €18,927 | +€1,470 | +8.4% |
| Taxes, remuneration and social security | 45 | €7,549 | €4,572 | -€2,977 | -39.4% |
| Taxes | 450/3 | €7,549 | €4,572 | -€2,977 | -39.4% |
| Other amounts payable | 47/48 | €6,120 | €3,000 | -€3,120 | -51.0% |
| Non-recurring operating income | 76A | - | €48,500 | +€48,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,640 | €32,613 | +€3,973 | +13.9% |
| Other operating charges | 640/8 | €384 | €387 | +€3 | +0.8% |
| Gross operating margin | 9900 | €50,931 | €111,590 | +€60,659 | +119% |
| Operating profit (loss) | 9901 | €21,906 | €78,590 | +€56,684 | +259% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €1,606 | €1,308 | -€298 | -18.5% |
| Recurring financial charges | 65 | €1,606 | €1,308 | -€298 | -18.5% |
| Profit (loss) for the period before taxes | 9903 | €20,300 | €77,282 | +€56,982 | +281% |
| Transfer from deferred taxes | 780 | €1,333 | €2,021 | +€688 | +51.6% |
| Transfer to deferred taxes | 680 | - | €12,125 | +€12,125 | |
| Income taxes | 67/77 | €7,549 | €11,753 | +€4,205 | +55.7% |
| Profit (loss) for the period | 9904 | €14,085 | €55,425 | +€41,340 | +294% |
| Transfer from tax-exempt reserves | 789 | €4,000 | €6,064 | +€2,064 | +51.6% |
| Transfer to tax-exempt reserves | 689 | - | €36,375 | +€36,375 | |
| Profit (loss) for the period to be appropriated | 9905 | €18,085 | €25,114 | +€7,029 | +38.9% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.