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Segment information | 12 Months Ended
--- | ---
Dec. 31, 2025
Segment information |
Segment information | 21 Segment information For management purposes, the Group is organized into segments based on their products, services and industry and has the following three reportable segments:
| ● | The Materialise Medical segment, which develops and delivers medical software solutions, medical devices and other related products and services;
| ● | The Materialise Software segment, which develops and delivers additive manufacturing software solutions and related services;
| ● | The Materialise Manufacturing segment, which delivers 3D printed products and related services.
The measurement principles used by the Group in preparing this segment reporting are also the basis for segment performance assessment and are in conformity with IFRS. The Chief Executive Officer of the Group acts as the chief operating decision maker. As a performance indicator, the chief operating decision maker controls the performance by the Group’s revenue, Segment Adjusted EBITDA, Segment Adjusted EBITDA margin, Segment Adjusted EBIT and Segment Adjusted EBIT margin. The following table summarizes the segment reporting for each of the reportable periods ending December 31. Corporate research and development, headquarters’ functions, financing and income taxes are managed on a Group basis and are not allocated to operating segments. As management’s controlling instrument is mainly revenue-based, the reporting information does not include assets and liabilities by segment and is as such not available per segment. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ ​ ​ | Materialise | ​ ​ ​ | Materialise | ​ ​ ​ | Materialise | ​ ​ ​ | Total | ​ ​ ​
in 000€ | ​ | Medical | ​ | Software | ​ | Manufacturing | ​ | segments | ​
For the year ended December 31, 2025 | ​ | ​ |  | ​ |  | ​ |  | ​ |
Revenues | ​ | 134,239 |  | 40,907 |  | 92,486 |  | 267,633 | ​
Segment Adjusted EBITDA | ​ | 42,983 |  | 5,469 |  | (4,236) |  | 44,217 | ​
Segment Adjusted EBITDA % | ​ | 32.0 | % | 13.4 | % | -4.6 | % | 16.5 | %
Segment Adjusted EBIT | ​ | 36,635 | ​ | 2,487 | ​ | (15,980) | ​ | 23,143 | ​
Segment Adjusted EBIT % | ​ | 27.3 | % | 6.1 | % | -17.3 | % | 8.6 | %
For the year ended December 31, 2024 | ​ | ​ |  | ​ |  | ​ |  | ​ | ​
Revenues | ​ | 116,358 |  | 43,899 |  | 106,508 |  | 266,765 | ​
Segment Adjusted EBITDA | ​ | 35,562 |  | 5,562 |  | 1,660 |  | 42,784 | ​
Segment Adjusted EBITDA % | ​ | 30.6 | % | 12.7 | % | 1.6 | % | 16.0 | %
Segment Adjusted EBIT | ​ | 29,202 | ​ | 2,141 | ​ | (9,565) | ​ | 21,778 | ​
Segment Adjusted EBIT % | ​ | 25.1 | % | 4.9 | % | -9.0 | % | 8.2 | %
For the year ended December 31, 2023 | ​ | ​ |  | ​ |  | ​ |  | ​ | ​
Revenues | ​ | 101,376 |  | 44,442 |  | 110,310 |  | 256,127 | ​
Segment Adjusted EBITDA | ​ | 26,544 |  | 7,450 |  | 7,537 |  | 41,530 | ​
Segment Adjusted EBITDA % | ​ | 26.2 | % | 16.8 | % | 6.8 | % | 16.2 | %
Segment Adjusted EBIT | ​ | 20,807 | ​ | 3,992 | ​ | (3,986) | ​ | 20,813 | ​
Segment Adjusted EBIT % | ​ | 20.5 | % | 9.0 | % | -3.6 | % | 8.1 | %
​ The segment Adjusted EBITDA and segment Adjusted EBIT are reconciled with the consolidated net profit (loss) for the year as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the year ended December 31,
in 000€ | ​ ​ ​ | 2025 | ​ ​ ​ | 2024 | ​ ​ ​ | 2023
Net profit (loss) for the year |  | 7,716 |  | 13,406 |  | 6,695
Income taxes |  | (429) |  | 733 |  | 78
Financial income |  | (3,968) |  | (7,677) |  | (5,019)
Financial expenses |  | 5,616 |  | 2,969 |  | 3,865
Operating (loss)/ profit | ​ | 8,936 |  | 9,432 |  | 5,619
Impairments |  | — |  | — |  | 4,228
Other operating income (expense) |  | (2,901) |  | (2,350) |  | (3,077)
Corporate headquarter costs |  | 12,048 |  | 10,254 |  | 10,464
Corporate research and development |  | 3,949 |  | 3,681 |  | 2,785
Depreciation and amortization |  | 21,785 |  | 21,742 |  | 21,511
Segment acquisition-related expenses(1) |  | — |  | 24 |  | —
Segment restructuring and reorganizations(2) | ​ | 400 | ​ | — | ​ | —
Segment Adjusted EBITDA |  | 44,217 |  | 42,784 |  | 41,530
Segment depreciation and amortization(3) | ​ | (21,074) | ​ | (21,006) | ​ | (20,717)
Segment Adjusted EBIT | ​ | 23,143 | ​ | 21,778 | ​ | 20,813
​
(1) | Segment acquisition-related expenses incurred in connection with the acquisition of FEops. See “Reconciliation of NET Profit to Adjusted EBITDA (unaudited) on a Consolidated Basis” above.
(2) | Costs related to restructuring activities and organizational changes within the reported business segments, including personnel‑related and other associated expenses. For 2025 these costs relate to personnel-related restructuring costs within our Materialse Manufacturing and Materialise Software segments.
(3) | Segment depreciation and amortization excludes depreciation and amortization that is not allocated to operating segments.
The Group has 1 individual customer that represents sales larger than 10% of the total revenue in 2025 (2024: 1; 2023: 1). The total amount of revenues from this customer for the year 2025 was K€ 60,735 (2024: K€ 50,500; 2023: K€ 39,868), and these revenues are reported within the Medical segment. 21.1 Entity-wide disclosures. The revenue by geographical area is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As of December 31,
in 000€ | ​ ​ ​ | 2025 | ​ ​ ​ | 2024 | ​ ​ ​ | 2023
United States of America |  | 110,886 |  | 108,584 |  | 90,350
Americas other than USA |  | 6,245 |  | 6,516 |  | 7,049
Belgium |  | 6,157 |  | 6,564 |  | 8,265
Germany |  | 30,885 |  | 34,963 |  | 33,172
France |  | 17,195 |  | 17,355 |  | 19,053
Switzerland |  | 20,454 |  | 19,710 |  | 20,780
United Kingdom |  | 14,981 |  | 15,634 |  | 15,153
Italy |  | 8,153 |  | 8,387 |  | 11,412
Netherlands |  | 7,459 |  | 7,924 |  | 7,977
Other Europe |  | 25,886 |  | 23,051 |  | 22,928
Asia Pacific |  | 19,332 |  | 18,077 |  | 19,988
Total |  | 267,633 |  | 266,765 |  | 256,127
​ The total revenue realized in the country of domicile (Belgium) in 2025 amounts to K€6,157 (2024: K€6,564; 2023: K€8,265). The total non-current assets, other than financial instruments, post-employment benefits, and deferred tax assets, by geographical area are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As of December 31,
in 000€ | ​ ​ ​ | 2025 | ​ ​ ​ | 2024 | ​ ​ ​ | 2023
United States of America (USA) |  | 11,821 |  | 13,416 |  | 12,329
Americas other than USA |  | 2,774 |  | 2,687 |  | 3,023
Belgium |  | 76,171 |  | 82,414 |  | 85,150
Germany |  | 81,181 |  | 78,228 |  | 61,520
Poland |  | 12,368 |  | 12,064 |  | 12,000
Rest of Europe |  | 7,166 |  | 7,829 |  | 8,024
Asia-Pacific |  | 1,389 |  | 1,668 |  | 1,578
Total |  | 192,870 |  | 198,306 |  | 183,625
​ The totals of the above table include goodwill, intangible assets, property, plant & equipment, right-of-use assets and other non current assets as disclosed in the consolidated statements of financial position.

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