6-K
MATERIALISE NV (MTLS)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of February 2026
Commission File Number: 001-36515
Materialise NV
Technologielaan 15
3001 Leuven
Belgium
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F x Form 40-F ¨
This Form 6-K is incorporated by reference into the registrant’s Registration Statement on Form F-3 (File No. 333-213649).
Fourth Quarter and Full Year2025 Financial Results
Except as otherwise required by the context, references to “Materialise,” “Company,” “we,” “us,” and “our” are to Materialise NV and its subsidiaries.
Fourth Quarter 2025 Financial Results
Total revenue for the fourth quarter of 2025 increased 6.8% to 70,164 kEUR from 65,680 kEUR for the fourth quarter of 2024.
Revenue from our Materialise Medical segment increased 16.3% to 37,016 kEUR for the fourth quarter of 2025, compared to 31,837 kEUR for the same period in 2024.
Revenue from our Materialise Software segment decreased 1.3% to 10,974 kEUR from 11,124 kEUR for the same quarter last year.
Revenue from our Materialise Manufacturing segment decreased 2.4% to 22,174 kEUR from 22,719 kEUR for the fourth quarter of 2024.
Consolidated gross profit increased 12.2% to 40,791 kEUR for the fourth quarter of 2025 from 36,365 kEUR for the same period last year. Gross profit as a percentage of revenue improved to 58.1%, compared to 55.4%.
Research and development (“R&D”), sales and marketing (“S&M”), and general and administrative (“G&A”) expenses remained in aggregate stable at 38,938 kEUR for the fourth quarter of 2025 compared to 38,990 kEUR for the prior year period, while the fourth quarter of 2025 included non-recurring costs related to the Euronext listing of 750 kEUR.
Net other operating income decreased to 1,258 kEUR compared to 1,357 kEUR for the fourth quarter of 2024.
The operating result was 3,111 kEUR, compared to (1,268) kEUR for the fourth quarter of 2024.
Net financial result for the fourth quarter of 2025 was 2,400 kEUR, compared to 3,301 kEUR for the corresponding period of 2024.
The fourth quarter of 2025 contained net tax income of 695 kEUR, compared to 874 kEUR for the fourth quarter of 2024.
As a result of the above, net profit for the fourth quarter of 2025 was 6,206 kEUR, compared to 2,907 kEUR for the same period in 2024.
At December 31, 2025, we reported 133,918 kEUR cash and cash equivalents on our balance sheet compared to 102,304 kEUR at December 31, 2024. Gross debt amounted to 63,113 kEUR compared to 41,284 kEUR at December 31, 2024. As a result, our net cash position (cash and cash equivalents less gross debt) was 70,805 kEUR, an increase of 9,785 KEUR compared to December 31, 2024.
Cash flow from operating activities for the fourth quarter of the year 2025 was 5,274 kEUR, compared to 6,218 kEUR for the same period in 2024. Total capital expenditures for the fourth quarter of the year 2025 amounted to 4,411 kEUR. The generated free cash flow over the fourth quarter of 2025 amounted to 4,511 kEUR.
Net shareholders’ equity at December 31, 2025 was 255,482 kEUR compared to 248,492 kEUR at December 31, 2024, representing an increase of 2.8%.
Adjusted EBITDA increased to 9,524 kEUR for the fourth quarter of 2025 from 4,306 kEUR for the 2024 period. Adjusted EBIT amounted to 3,980 kEUR, compared to (1,195) kEUR for the same period in 2024.
Adjusted EBITDA from our Materialise Medical segment was 13,024 kEUR compared to 9,547 kEUR, while the Adjusted EBITDA margin for the segment (segment Adjusted EBITDA divided by segment revenue)_was 35.2%, compared to 30.0% for the prior-year period.
Adjusted EBITDA from our Materialise Software segment amounted to 1,701 kEUR compared to 1,123 kEUR, while the Adjusted EBITDA margin for the segment was 15.5%, compared to 10.1% for the prior-year period.
Adjusted EBITDA from our Materialise Manufacturing segment increased to (2,199) kEUR compared to (2,989) kEUR, while the Adjusted EBITDA margin for the segment was (9.9)% compared to (13.2)% for the prior-year period.
Full Year 2025 Financial Results
Total revenues for the year ended December 31, 2025 remained stable at 267,633 kEUR compared to 266,765 kEUR for the year ended December 31, 2024.
Revenues from our Materialise Medical segment grew by 15.4% for the year ended December 31, 2025 to 134,239 kEUR from 116,358 kEUR for the year ended December 31, 2024.
Revenues from our Materialise Software segment decreased 6.8% to 40,907 kEUR for the year ended December 31, 2025 compared to 43,899 kEUR for the year ended December 31, 2024.
Revenues from our Materialise Manufacturing segment decreased 13.2% to 92,486 kEUR for the year ended December 31, 2025 from 106,508 kEUR for the year ended December 31, 2024.
Consolidated gross profit increased 1.4% to 152,949 kEUR from 150,826 kEUR last year. Gross profit as a percentage of revenue increased to 57.1%, compared to 56.5% in 2024.
Research and development (“R&D”) expenses increased by 3.8% to 46,089 kEUR mainly reflecting higher investments in our Materialise Medical segment. Other operational expenses, including sales and marketing (“S&M”) and general and administrative (“G&A”) expenses, increased in aggregate over the full year 2025 by only 0.5% compared to 2024 to 101,714 kEUR.
Net other operating income was 3,789 kEUR compared to 4,223 kEUR for 2024.
Operating result amounted to 8,936 kEUR for the year ended December 31, 2025 compared to 9,432 kEUR in the prior year.
Net financial result amounted to (1,648) kEUR, compared to net financial result of 4,707 kEUR for the year ended December 31, 2024 reflecting the significantly higher impact of unfavorable exchange rate fluctuations in 2025.
Income taxes amounted to 429 kEUR compared to (733) kEUR for the year ended December 31, 2024.
As a result, net profit was 7,716 kEUR for 2025 compared to a net profit of 13,406 kEUR in 2024.
Cash flow from operating activities for the year ended December 31, 2025 was 25,319 kEUR compared to 31,456 kEUR for the year ended December 31, 2024. Total capital expenditures for the year ended December 31, 2025 amounted to 16,261 kEUR. The generated free cash flow over 2025 amounted to 15,615 kEUR.
Adjusted EBITDA for 2025 improved to 32,386 kEUR compared to 31,484 kEUR for 2024. The Adjusted EBITDA margin (Adjusted EBITDA divided by total revenue) improved to 12.1% in 2025, compared to 11.8% in 2024. Adjusted EBIT for 2025 increased to 10,601 kEUR compared to 9,741 kEUR for 2024. The Adjusted EBIT margin (Adjusted EBIT divided by total revenue) for 2025 increased to 4.0%, compared to 3.7% for 2024.
Adjusted EBITDA from our Materialise Medical segment increased to 42,983 kEUR from 35,562 kEUR. The segment’s Adjusted EBITDA margin improved to 32.0% in 2025, compared to 30.6% in 2024.
Adjusted EBITDA from our Materialise Software segment decreased to 5,469 kEUR from 5,562 kEUR in 2024. The segment’s Adjusted EBITDA margin improved to 13.4% in 2025, compared to 12.7% in 2024.
Adjusted EBITDA from our Materialise Manufacturing segment amounted to (4,236) kEUR compared to 1,660 kEUR. The segment’s Adjusted EBITDA margin was (4.6)% in 2025, compared to 1.6% in 2024.
Non-IFRS Measures
Materialise uses EBIT, EBITDA, Adjusted EBIT and Adjusted EBITDA as supplemental financial measures of its financial performance. EBIT is calculated as net profit plus income taxes, financial expenses (less financial income) and shares of profit or loss in a joint venture. EBITDA is calculated as net profit plus income taxes, financial expenses (less financial income), shares of profit or loss in a joint venture and depreciation and amortization. Adjusted EBIT and Adjusted EBITDA are determined by adding to EBIT and EBITDA, respectively (i) share-based compensation expenses, (ii) acquisition or divestiture-related expenses of business combinations, (iii) impairments and revaluation of fair value due to business combinations and (iv) costs incurred in relation to corporate initiatives, restructurings or reorganizations that are of a non-recurring nature. Management believes these non-IFRS measures to be important measures as they exclude the effects of items which primarily reflect the impact of financing decisions and, in the case of EBITDA and Adjusted EBITDA, long term investment, rather than the performance of the company’s day-to-day operations. The company also uses segment Adjusted EBITDA to evaluate the performance of its three business segments. As compared to net profit, these measures are limited in that they do not reflect the cash requirements necessary to service interest or principal payments on the company’s indebtedness and, in the case of EBITDA and Adjusted EBITDA, these measures are further limited in that they do not reflect the periodic costs of certain capitalized tangible and intangible assets used in generating revenues in the company’s business, or the changes associated with impairments. Management evaluates such items through other financial measures such as financial expenses, capital expenditures and cash flow provided by operating activities. The company believes that these measurements are useful to measure a company’s ability to grow or as a valuation measurement. The company’s calculation of EBIT, EBITDA, Adjusted EBIT and Adjusted EBITDA may not be comparable to similarly titled measures reported by other companies. EBIT, EBITDA, Adjusted EBIT and Adjusted EBITDA should not be considered as alternatives to net profit or any other performance measure derived in accordance with IFRS. The company’s presentation of EBIT, EBITDA, Adjusted EBIT and Adjusted EBITDA should not be construed to imply that its future results will be unaffected by unusual or non-recurring items.
Exchange Rate
This document contains translations of certain euro amounts into U.S. dollars at specified rates solely for the convenience of readers. Unless otherwise noted, all translations from euros to U.S. dollars in this document were made at a rate of EUR 1.00 to USD 1.1750, the reference rate of the European Central Bank on December 31, 2025.
About Materialise
Materialise NV incorporates more than three decades of 3D printing experience into a range of software solutions and 3D printing services that empower sustainable 3D printing applications. Our open, secure, and innovative end-to-end solutions enable flexible industrial manufacturing and mass personalization in various industries — including healthcare, automotive, aerospace, eyewear, art and design, wearables, and consumer goods. Headquartered in Belgium and with branches worldwide, Materialise NV combines the largest group of software developers in the industry with one of the world's largest and most complete 3D printing facilities.
Consolidated income statements (Unaudited)
| for the three months ended December 31, | for the twelve months ended<br> December 31, | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| In '000 | 2025 | 2025 | 2024 | 2025 | 2024 | |||||
| U.S. | ||||||||||
| Revenue | ||||||||||
| Cost of Sales | ) | ) | ) | ) | ) | |||||
| Gross Profit | ||||||||||
| Gross profit as % of revenue | % | % | % | % | % | |||||
| Research and development expenses | ) | ) | ) | ) | ) | |||||
| Sales and marketing expenses | ) | ) | ) | ) | ) | |||||
| General and administrative expenses | ) | ) | ) | ) | ) | |||||
| Net other operating income (expenses) | ||||||||||
| Operating (loss) profit | ) | |||||||||
| Financial expenses | ) | ) | ||||||||
| Financial income | ||||||||||
| (Loss) profit before taxes | ||||||||||
| Income Taxes | ) | |||||||||
| Net (loss) profit for the period | ||||||||||
| Net (loss) profit attributable to: | ||||||||||
| The owners of the parent | ||||||||||
| Non-controlling interest | ) | ) | ) | |||||||
| Earning per share attributable to owners of the parent | ||||||||||
| Basic | ||||||||||
| Diluted | ||||||||||
| Weighted average basic shares outstanding | ||||||||||
| Weighted average diluted shares outstanding |
All values are in US Dollars.
Consolidated statements of comprehensive income (Unaudited)
| for the three months ended December 31, | for the twelve months ended<br> December 31, | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| In 000€ | 2025 | 2025 | 2024 | 2025 | 2024 | |||||
| U.S. | ||||||||||
| Net profit (loss) for the period | ||||||||||
| Other comprehensive income | ||||||||||
| Recycling | ||||||||||
| Exchange difference on translation of foreign operations | ) | ) | ) | ) | ) | |||||
| Non-recycling | ||||||||||
| Fair value adjustments through OCI - Equity instruments | ||||||||||
| Other comprehensive income (loss), net of taxes | ) | ) | ) | ) | ) | |||||
| Total comprehensive income (loss) for the year, net of taxes | ||||||||||
| Total comprehensive income (loss) attributable to: | ||||||||||
| The owners of the parent | ||||||||||
| Non-controlling interests | ) | ) | ) | ) |
All values are in US Dollars.
Consolidated statement of financial position (Unaudited)
| As of<br> December 31, | As of<br> December 31, | |||
|---|---|---|---|---|
| In 000€ | 2025 | 2024 | ||
| Assets | ||||
| Non-current assets | ||||
| Goodwill | 43,161 | 43,391 | ||
| Intangible assets | 25,639 | 29,973 | ||
| Property, plant & equipment | 112,854 | 111,331 | ||
| Right-of-Use assets | 5,429 | 7,719 | ||
| Deferred tax assets | 3,971 | 3,523 | ||
| Investments in convertible loans | - | 3,994 | ||
| Other non-current assets | 5,983 | 5,893 | ||
| Total non-current assets | 197,038 | 205,823 | ||
| Current assets | ||||
| Inventories | 14,904 | 16,992 | ||
| Trade receivables | 54,938 | 53,052 | ||
| Other current assets | 15,533 | 18,166 | ||
| Cash and cash equivalents | 133,918 | 102,304 | ||
| Assets held for sale | 4,314 | - | ||
| Total current assets | 223,607 | 190,513 | ||
| Total assets | 420,646 | 396,336 |
| As of<br> December 31, | As of<br> December 31, | |||||
|---|---|---|---|---|---|---|
| In 000€ | 2025 | 2024 | ||||
| Equity and liabilities | ||||||
| Equity | ||||||
| Share capital | 4,487 | 4,487 | ||||
| Share premium | 203,895 | 233,895 | ||||
| Retained earnings and other reserves | 47,180 | 10,196 | ||||
| Equity attributable to the owners of the parent | 255,562 | 248,578 | ||||
| Non-controlling interest | (80 | ) | (86 | ) | ||
| Total equity | 255,482 | 248,492 | ||||
| Non-current liabilities | ||||||
| Loans & borrowings | 49,726 | 23,175 | ||||
| Lease liabilities | 3,063 | 5,112 | ||||
| Deferred tax liabilities | 2,660 | 3,202 | ||||
| Deferred income | 17,344 | 13,268 | ||||
| Other non-current liabilities | 486 | 910 | ||||
| Total non-current liabilities | 73,280 | 45,666 | ||||
| Current liabilities | ||||||
| Loans & borrowings | 7,759 | 10,383 | ||||
| Lease liabilities | 2,565 | 2,614 | ||||
| Trade payables | 20,125 | 23,348 | ||||
| Tax payables | 748 | 1,432 | ||||
| Deferred income | 43,523 | 45,998 | ||||
| Other current liabilities | 16,362 | 18,403 | ||||
| Liabilities held for sale | 802 | - | ||||
| Total current liabilities | 91,884 | 102,178 | ||||
| Total equity and liabilities | 420,646 | 396,336 |
Consolidated statement of cash flows (Unaudited)
| for the twelve months<br><br> ended December 31, | ||||||
|---|---|---|---|---|---|---|
| In 000€ | 2025 | 2024 | ||||
| Operating activities | ||||||
| Net (loss) profit for the period | 7,716 | 13,406 | ||||
| Non-cash and operational adjustments | 23,179 | 18,655 | ||||
| Depreciation of property plant & equipment | 15,274 | 15,372 | ||||
| Amortization of intangible assets | 6,431 | 6,435 | ||||
| (Gain) on bargain purchase | - | (23 | ) | |||
| Share-based payment expense | 266 | 285 | ||||
| Loss (gain) on disposal of intangible assets and property, plant & equipment | (85 | ) | (312 | ) | ||
| Government grants | (319 | ) | (57 | ) | ||
| Movement in provisions | (184 | ) | 539 | |||
| Movement reserve for bad debt and slow moving inventory | 723 | 236 | ||||
| Financial income | (3,957 | ) | (7,575 | ) | ||
| Financial expense | 5,612 | 3,012 | ||||
| Impact of foreign currencies | (136 | ) | 29 | |||
| (Deferred) income taxes | (446 | ) | 714 | |||
| Working capital adjustments | (8,843 | ) | (1,418 | ) | ||
| Decrease (increase) in trade receivables and other receivables | (2,671 | ) | (1,037 | ) | ||
| Decrease (increase) in inventories and contracts in progress | (904 | ) | (372 | ) | ||
| Increase (decrease) in deferred revenue | (265 | ) | 1,270 | |||
| Increase (decrease) in trade payables and other payables | (5,003 | ) | (1,279 | ) | ||
| Income tax paid | (1,076 | ) | (3,152 | ) | ||
| Interest received | 4,343 | 3,965 | ||||
| Net cash flow from operating activities | 25,319 | 31,456 | ||||
| for the twelve months ended<br><br> December 31, | ||||||
| --- | --- | --- | --- | --- | --- | --- |
| In 000€ | 2025 | 2024 | ||||
| Investing activities | ||||||
| Purchase of property, plant & equipment | (14,092 | ) | (24,649 | ) | ||
| Purchase of intangible assets | (2,169 | ) | (1,728 | ) | ||
| Proceeds from the sale of property, plant & equipment & intangible assets (net) | 389 | 458 | ||||
| Acquisition of subsidiary (net of cash) | - | (2,670 | ) | |||
| Convertible loan to third party | 2,500 | - | ||||
| Capital government grants received | 3,669 | - | ||||
| Net cash flow used in investing activities | (9,703 | ) | (28,588 | ) | ||
| Financing activities | ||||||
| Proceeds from loans & borrowings | 35,000 | - | ||||
| Repayment of loans & borrowings | (11,054 | ) | (23,267 | ) | ||
| Repayment of leases | (3,067 | ) | (3,122 | ) | ||
| Capital increase | - | - | ||||
| Interest paid | (1,712 | ) | (1,337 | ) | ||
| Other financial income (expense) | (2,145 | ) | 81 | |||
| Dividends paid to equity holders of the parent | 0 | - | ||||
| Net cash flow from (used in) financing activities | 17,023 | (27,644 | ) | |||
| Net increase/(decrease) of cash & cash equivalents | 32,638 | (24,776 | ) | |||
| Cash & Cash equivalents at the beginning of the year | 102,304 | 127,573 | ||||
| Exchange rate differences on cash & cash equivalents | (1,024 | ) | (492 | ) | ||
| Cash & cash equivalents at end of the period | 133,918 | 102,304 |
Reconciliation of Net Profit (Loss) to EBITDA and AdjustedEBITDA (Unaudited)
| for the three months ended<br> December 31, | for the twelve months ended<br><br> December 31, | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| In 000€ | 2025 | 2024 | 2025 | 2024 | ||||||||
| Net profit (loss) for the period | 6,206 | 2,907 | 7,716 | 13,406 | ||||||||
| Income taxes | (695 | ) | (874 | ) | (429 | ) | 733 | |||||
| Financial expenses | (1,777 | ) | (1,113 | ) | 5,616 | 2,969 | ||||||
| Financial income | (623 | ) | (2,188 | ) | (3,968 | ) | (7,677 | ) | ||||
| Depreciation and amortization | 5,544 | 5,501 | 21,785 | 21,742 | ||||||||
| EBITDA | 8,655 | 4,234 | 30,721 | 31,175 | ||||||||
| Share-based compensation expense (1) | 74 | 72 | 266 | 285 | ||||||||
| Restructuring and corporate initiatives (2) | 795 | - | 1,400 | - | ||||||||
| Acquisition-related expenses of business combinations (3) | - | - | - | 24 | ||||||||
| Adjusted EBITDA | 9,524 | 4,306 | 32,386 | 31,484 |
(1) Share-based compensation expense represents the cost of equity-settled and share-based payments to employees.
(2) Non-recurring costs related to corporate initiatives, restructurings or reorganizations
(3) Acquisition-related expenses of business combinations represent expenses incurred in connection with the acquisition of Feops.
Reconciliation of Net Profit (Loss) to EBIT and Adjusted EBIT(Unaudited)
| for the three months ended<br> December 31, | for the twelve months ended<br><br> December 31, | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| In 000€ | 2025 | 2024 | 2025 | 2024 | ||||||||
| Net profit (loss) for the period | 6,206 | 2,907 | 7,716 | 13,406 | ||||||||
| Income taxes | (695 | ) | (874 | ) | (429 | ) | 733 | |||||
| Financial expenses | (1,777 | ) | (1,113 | ) | 5,616 | 2,969 | ||||||
| Financial income | (623 | ) | (2,188 | ) | (3,968 | ) | (7,677 | ) | ||||
| EBIT | 3,111 | (1,268 | ) | 8,936 | 9,432 | |||||||
| Share-based compensation expense (1) | 74 | 72 | 266 | 285 | ||||||||
| Restructuring and corporate initiatives (2) | 795 | - | 1,400 | - | ||||||||
| Acquisition-related expenses of business combinations (3) | - | - | - | 24 | ||||||||
| Adjusted EBIT | 3,980 | (1,195 | ) | 10,601 | 9,741 |
(1) Share-based compensation expense represents the cost of equity-settled and share-based payments to employees.
(2) Non-recurring costs related to corporate initiatives, restructurings or reorganizations
(3) Acquisition-related expenses of business combinations represent expenses incurred in connection with the acquisition of Feops.
Segment P&L (Unaudited)
| In 000€ | Materialise<br> Medical | Materialise<br> Software | Materialise<br> Manufacturing | Total<br> segments | Unallocated <br><br>(1) | Consolidated | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| For the three months ended December 31, 2025 | ||||||||||||||||||
| Revenues | 37,016 | 10,974 | 22,174 | 70,164 | (0 | ) | 70,164 | |||||||||||
| Segment (adj) EBITDA | 13,024 | 1,701 | (2,199 | ) | 12,526 | (3,001 | ) | 9,524 | ||||||||||
| Segment (adj) EBITDA % | 35.2 | % | 15.5 | % | -9.9 | % | 17.9 | % | 13.6 | % | ||||||||
| For the three months ended December 31, 2024 | ||||||||||||||||||
| Revenues | 31,837 | 11,124 | 22,719 | 65,680 | 0 | 65,680 | ||||||||||||
| Segment (adj) EBITDA | 9,547 | 1,123 | (2,989 | ) | 7,681 | (3,375 | ) | 4,306 | ||||||||||
| Segment (adj) EBITDA % | 30.0 | % | 10.1 | % | -13.2 | % | 11.7 | % | 6.6 | % | ||||||||
| In 000€ | Materialise<br> Medical | Materialise<br> Software | Materialise<br> Manufacturing | Total<br> segments | Unallocated<br> (1) | Consolidated | ||||||||||||
| For the twelve months ended December 31, 2025 | ||||||||||||||||||
| Revenues | 134,239 | 40,907 | 92,486 | 267,633 | (0 | ) | 267,633 | |||||||||||
| Segment (adj) EBITDA | 42,983 | 5,469 | (4,236 | ) | 44,217 | (11,830 | ) | 32,386 | ||||||||||
| Segment (adj) EBITDA % | 32.0 | % | 13.4 | % | -4.6 | % | 16.5 | % | 12.1 | % | ||||||||
| For the twelve months ended December 31, 2024 | ||||||||||||||||||
| Revenues | 116,358 | 43,899 | 106,508 | 266,765 | 0 | 266,765 | ||||||||||||
| Segment (adj) EBITDA | 35,562 | 5,562 | 1,660 | 42,784 | (11,300 | ) | 31,484 | |||||||||||
| Segment (adj) EBITDA % | 30.6 | % | 12.7 | % | 1.6 | % | 16.0 | % | 11.8 | % |
(1) Unallocated segment adjusted EBITDA consists of corporate research and development and corporate other operating income (expense), and the added share-based compensation expenses, acquisition or divestiture-related expenses of business combinations, impairments and revaluation of fair value of business combinations and non-recurring costs related to corporate initiatives, restructurings and reorganizations that are included in Adjusted EBITDA and that are not allocated to the reporting segments .
Reconciliation of Net Profit (Loss) to Segment adjusted EBITDA(Unaudited)
| for the three months ended<br> December 31, | for the twelve months ended<br><br> December 31, | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| In 000€ | 2025 | 2024 | 2025 | 2024 | ||||||||
| Net profit (loss) for the period | 6,206 | 2,907 | 7,716 | 13,406 | ||||||||
| Income taxes | (695 | ) | (874 | ) | (429 | ) | 733 | |||||
| Financial expenses | (1,777 | ) | (1,113 | ) | 5,616 | 2,969 | ||||||
| Financial income | (623 | ) | (2,188 | ) | (3,968 | ) | (7,677 | ) | ||||
| Operating (loss) profit | 3,111 | (1,268 | ) | 8,936 | 9,432 | |||||||
| Depreciation and amortization | 5,544 | 5,501 | 21,785 | 21,742 | ||||||||
| Corporate research and development | 1,022 | 1,006 | 3,949 | 3,681 | ||||||||
| Corporate headquarter costs | 3,562 | 2,717 | 12,048 | 10,254 | ||||||||
| Other operating income (expense) | (713 | ) | (276 | ) | (2,901 | ) | (2,350 | ) | ||||
| Segment restructuring and reorganization | - | - | 400 | - | ||||||||
| Acquisition-related expenses of business combinations (1) | - | - | 24 | |||||||||
| Segment adjusted EBITDA | 12,526 | 7,681 | 44,217 | 42,784 |
(1) Acquisition-related expenses of business combinations represent expenses incurred in connection with the acquisition of Feops.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| MATERIALISE NV | |
|---|---|
| By: | /s/ Brigitte de Vet-Veithen |
| Name: | Brigitte de Vet-Veithen |
| De Vet Management BV | |
| Title: | Chief Executive Officer |
Date: February 19, 2026