Materialise NV (MTLS) Balance Sheet

NASDAQ: MTLSAssets, liabilities, debt and equity over 10 years.

MTLS balance sheet, 2025

December 31, 2025 · euros

€420.5M assets = €165.1M liabilities + €255.4M equity

What it owns€420.5MCash & ST investments: €133.9M (31.8%)Cash & ST investments€133.9M · 32%Receivables: €54.9M (13.1%)Receivables€54.9M · 13%Inventory: €14.9M (3.5%)Other current: €19.8M (4.7%)PP&E: €118.2M (28.1%)PP&E€118.2M · 28%Goodwill & intangibles: €68.8M (16.4%)Goodwill & intangibles€68.8M · 16%Other non-current: €10.0M (2.4%)=How it is financed€420.5MCurrent liabilities: €91.8M (21.8%)Current liabilities€91.8M · 22%Long-term debt: €49.7M (11.8%)Long-term debt€49.7M · 12%Other LT liabilities: €23.5M (5.6%)Shareholders’ equity: €255.4M (60.7%)Shareholders’ equity€255.4M · 61%

Both columns are drawn to the same scale: what MTLS owns equals what it owes plus shareholders’ equity. Hover a block for its value.

MTLS financial health

Current ratio2.43
Comfortable · current assets cover current liabilities 2.43×
Debt / equity0.26
Low leverage · €0.26 of debt for each $1 of equity
Equity / assets60.8%
Equity-funded · of assets funded by shareholders
Cash / debt202.4%
Cash covers debt · cash & short-term investments vs total debt
Goodwill & intangibles16.4%
Mostly tangible · of total assets

Descriptive bands, not a rating. Fiscal 2025.

MTLS balance sheet trends, 2016–2025

MetricTrendThenLatestChange
Total assets€161.9M2016€420.5M2025+11.2%/yr
Total liabilities€82.9M2016€165.1M2025+8.0%/yr
Shareholders’ equity€79.0M2016€255.5M2025+13.9%/yr
Cash & short-term investments€55.9M2016€133.9M2025+10.2%/yr
Total debt€33.8M2016€66.1M2025+7.7%/yr
Net cash (debt)€22.1M2016€67.7M2025+€45.6M
Working capital€47.9M2016€131.7M2025+€83.8M
Current ratio2.0020162.432025+0.43
Debt / equity0.4320160.262025−0.17
Shares outstanding47.3M201659.1M2025+2.5%/yr

Change is the average annual growth (CAGR) or the difference between the first and latest year.

MTLS assets

Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current

MTLS liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

MTLS debt vs cash

Total debtCash & ST investmentsNet cash (debt)

Debt includes short- and long-term borrowings and, where reported, lease obligations.

MTLS balance sheet in euros

2025202420232022202120202019201820172016
Assets
Cash & short-term investments€133.9M€102.3M€127.6M€140.9M€196.0M€136.5M€144.7M€115.5M€43.2M€55.9M
Cash & equivalents€133.9M€102.3M€127.6M€140.9M€196.0M€136.5M€144.7M€115.5M€43.2M€55.9M
Short-term investments——————€0€0€0€0
Receivables€54.9M€53.1M€52.7M€54.7M€45.2M€44.4M€52.7M€36.9M€42.5M€31.6M
Inventory€14.9M€17.0M€17.0M€15.4M€10.8M€12.3M€14.3M€10.0M€11.6M€6.7M
Other current assets€19.8M€18.2M€9.2M€5.4M€5.7M€1€1€6.9M€188,000€1.5M
Total current assets€223.5M€190.5M€206.5M€216.4M€257.8M€193.2M€211.7M€169.3M€97.5M€95.7M
Property, plant & equipment (net)€118.2M€119.1M€103.5M€102.7M€93.5M€121.5M€114.0M€92.5M€86.9M€45.1M
Goodwill & intangible assets€68.8M€73.4M€74.6M€82.0M€50.4M€63.1M€52.8M€43.8M€47.1M€18.6M
Long-term investments€0€4.0M€3.7M€3.8M€4.0M€10.0M€3.1M€2.7M€31,000€0
Other non-current assets€10.0M€9.4M€8.3M€6.3M€7.7M€11.0M€10.7M€4.9M€6.1M€2.5M
Total assets€420.5M€396.3M€396.6M€411.3M€413.4M€398.8M€392.2M€313.2M€237.5M€161.9M
Liabilities
Accounts payable€20.1M€23.3M€21.2M€23.2M€20.2M€21.7M€20.8M€18.7M€15.7M€13.4M
Short-term debt€10.3M€13.0M€25.5M€20.0M€21.2M€21.4M€18.9M€13.6M€15.8M€5.5M
Deferred revenue€43.5M€46.0M€40.8M€41.7M€33.3M€36.2M€31.0M€23.2M€19.3M€17.8M
Total current liabilities€91.8M€102.2M€105.0M€106.1M€91.4M€103.3M€94.3M€73.1M€62.7M€47.8M
Long-term debt€49.7M€23.2M€33.6M€55.9M€72.6M€90.5M€111.1M€92.4M€81.8M€28.3M
Lease obligations€5.6M€7.7M€7.9M€8.0M€8.6M€10.6M€9.9M€0€0€0
Other long-term liabilities€23.5M€22.5M€21.5M€20.3M€16.8M€42.0M€26.5M€11.7M€13.1M€6.8M
Total liabilities€165.1M€147.8M€160.0M€182.3M€180.8M€235.8M€231.9M€177.2M€160.0M€82.9M
Shareholders' equity
Common stock & paid-in capital€4.5M€4.5M€4.5M€4.5M€4.5M€5.0M€3.4M€3.0M€2.7M€2.7M
Retained earnings (deficit)€47.2M€19.0M€5.8M−€1.2M€965,000−€9.0M−€305,320−€1.6M−€3.7M−€1.9M
Treasury stock——————€0€0€0€0
Accumulated other comprehensive income—−€9.1M−€7.6M−€8.3M−€6.7M−€6.0M−€1.5M−€3.7M−€5.1M−€2.7M
Minority interest−€80,000−€86,000−€53,000−€28,000——€0€0€0€0
Total shareholders' equity€255.5M€248.6M€236.6M€229.0M€232.6M€163.0M€156.6M€136.0M€77.5M€79.0M
Key figures
Total debt€66.1M€41.3M€64.4M€81.0M€99.1M€140.8M€143.6M€106.0M€94.6M€33.8M
Net cash (debt)€67.7M€61.0M€63.2M€59.9M€96.9M−€4.4M€1.1M€9.5M−€51.4M€22.1M
Working capital€131.7M€88.3M€101.5M€110.3M€166.4M€89.9M€117.3M€96.2M€34.7M€47.9M
Tangible book value€186.7M€175.2M€162.0M€146.9M€182.2M€99.8M€103.8M€92.2M€30.4M€60.4M
Shares outstanding59.1M59.1M59.1M59.1M56.8M53.4M54.0M50.7M47.3M47.3M
Current ratio2.431.861.972.042.821.872.242.321.552.00
Quick ratio2.061.521.721.842.641.752.092.081.371.83
Debt / equity0.260.170.270.350.430.860.920.781.220.43
Equity / assets60.8%62.7%59.7%55.7%56.3%40.9%39.9%43.4%32.6%48.8%

Quarterly columns are labeled by the month the quarter ended. Figures in euros as reported (latest annual report filed April 23, 2026); data from EODHD.

MTLS financial position

At the end of fiscal 2025 (December 31, 2025), Materialise had total assets of €420.5 million (up 6.1% from a year earlier), total liabilities of €165.1 million and shareholders' equity of €255.5 million. It held €133.9 million in cash and short-term investments against €66.1 million of debt, a net cash position of €67.7 million. Its current ratio was 2.43. In the latest quarter (ended June 30, 2026) total assets were €417.5 million and equity €256.2 million.

Related: MTLS income statement, MTLS cash flow statement, MTLS key metrics. See the MTLS stock overview for the latest quote and news.

MTLS balance sheet FAQ

What are Materialise's total assets?

Materialise reported total assets of €420.5 million at the end of fiscal 2025 (December 31, 2025), compared with €396.3 million a year earlier.

How much debt does Materialise have?

Materialise had €66.1 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.26.

How much cash does Materialise have?

Materialise held €133.9 million in cash and short-term investments at the end of fiscal 2025; with €66.1 million of debt that is net cash of €67.7 million.

What is Materialise's book value?

Materialise's shareholders' equity (book value) was €255.5 million at the end of fiscal 2025.

What is Materialise's current ratio?

Materialise had current assets of €223.5 million and current liabilities of €91.8 million, a current ratio of 2.43 (it can cover its short-term obligations).

How much goodwill does Materialise have?

Materialise carried €68.8 million of goodwill and intangible assets, 16.4% of total assets, at the end of fiscal 2025.

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