# EDGAR Filing Document

**Accession Number:** 0001091223
**File Stem:** 0001104659-25-102864
**Filing Date:** 2025-10
**Character Count:** 33883
**Document Hash:** 9137b8224a655bfede6d14fa46220579
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-25-102864.hdr.sgml**: 20251028

**ACCESSION NUMBER**: 0001104659-25-102864

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251028

**FILED AS OF DATE**: 20251028

**DATE AS OF CHANGE**: 20251028

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MATERIALISE NV
- **CENTRAL INDEX KEY:** 0001091223
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-PREPACKAGED SOFTWARE [7372]
- **ORGANIZATION NAME:** 06 Technology
- **EIN:** 000000000

**FILING VALUES:**
- **FORM TYPE:** 6-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-36515
- **FILM NUMBER:** 251421534

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** TECHNOLOGIELAAN 15
- **CITY:** LEVUEN
- **PROVINCE COUNTRY:** C9
- **ZIP:** 3001
- **BUSINESS PHONE:** 32 16 39 66 11

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** TECHNOLOGIELAAN 15
- **CITY:** LEVUEN
- **PROVINCE COUNTRY:** C9
- **ZIP:** 3001

**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 October 2025**

**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 ⌧ Form 40-F ◻

**EXHIBIT INDEX**

---

| | |
|:---|:---|
| **Exhibit** | **Description** |
| [99.1](tm2529582d1_ex99-1.htm) | [Press Release dated October 28, 2025](tm2529582d1_ex99-1.htm) |

---

**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 | MATERIALISE NV |
| By: | /s/ Brigitte de Vet-Veithen |
| Name: | Brigitte de Vet-Veithen |
|  | De Vet Management BV |
| Title: | Chief Executive Officer |

---

Date: October 28, 2025

## Exhibit 99.1

**Exhibit 99.1**

Materialise Reports Third Quarter 2025 Results

LEUVEN, Belgium--(BUSINESS WIRE)—October 28, 2025 -- Materialise NV (NASDAQ:MTLS), a global leader in 3D-printed medical devices and software and a pioneer in additive manufacturing software and services, today announced its financial results for the third quarter ended September 30, 2025.

**Highlights – Third Quarter 2025**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Total
 consolidated revenue increased 2.2% to 66,259 kEUR compared to the second quarter of 2025,
 but decreased 3.5% compared to the third quarter of 2024. Revenue from our Materialise Medical
 segment grew 10.3% compared to the corresponding 2024 period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Gross
 profit as a percentage of revenue for the third quarter of 2025 was 56.8%, in line with the
 gross margin realized over the first nine months of 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Adjusted
 EBIT amounted to 2,918 kEUR for the third quarter of 2025, representing 4.4% of consolidated
 revenue.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Net
 profit for the third quarter of 2025 was 1,848 kEUR, or 0.03 EUR per diluted share.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Driven
 by positive free cash flow during the first nine months of 2025, our reported net cash position
 increased by 6,724 kEUR to 67,744 kEUR compared to December 31, 2024.

CEO Brigitte de Vet-Veithen commented, *"I am proud to report that we once more delivered a positive net result and strong cash flow in the third quarter of this year. Our Materialise Medical segment posted a quarterly revenue record, growing by more than 10% compared to the same period in 2024, while macro-economic headwinds continued to impact our consolidated revenue, and, in particular, our Materialise Manufacturing segment. We further implemented targeted cost control measures designed to protect our operational profitability without compromising on our continued R&D investments to drive future growth."*

**Third Quarter 2025 Results**

Total revenue for the third quarter of 2025 decreased 3.5% to 66,259 kEUR from 68,652 kEUR for the third quarter of 2024. Adjusted EBIT was 2,918 kEUR for the third quarter of 2025 compared to 4,408 kEUR for the 2024 period. The Adjusted EBIT margin (Adjusted EBIT divided by total revenue) for the third quarter of 2025 was 4.4%, compared to 6.4% for the third quarter of 2024. Adjusted EBITDA amounted to 8,428 kEUR for the third quarter of 2025 compared to 9,895 kEUR for the 2024 period.

Revenue from our Materialise Medical segment increased 10.3% to 33,296 kEUR for the third quarter of 2025 compared to 30,197 kEUR for the same period in 2024. Segment Adjusted EBITDA amounted to 10,199 kEUR for the third quarter of 2025 compared to 9,895 kEUR, while the segment Adjusted EBITDA margin was 30.6% compared to 32.8% for the third quarter of 2024.

Revenue from our Materialise Software segment decreased 7.4% to 10,286 kEUR for the third quarter of 2025 compared to 11,111 kEUR for the same quarter last year. Segment Adjusted EBITDA amounted to 1,801 kEUR compared to 1,975 kEUR, while the segment Adjusted EBITDA margin was 17.5% compared to 17.8% for the corresponding prior-year period.

Revenue from our Materialise Manufacturing segment decreased 17.1% to 22,677 kEUR for the third quarter of 2025 compared to 27,344 kEUR for the third quarter of 2024. Segment Adjusted EBITDA amounted to (845) kEUR compared to 701 kEUR for last year's same period, while the segment Adjusted EBITDA margin was (3.7)% compared to 2.6% for the third quarter of 2024.

Gross profit was 37,651 kEUR for the third quarter of 2025 compared to 39,297 kEUR for the same period last year, while gross profit as a percentage of revenue was 56.8% compared to 57.2% for the third quarter of 2024.

While Research and development ("R&D") expenses increased by 4.2% mainly reflecting higher investments in our Materialise Medical segment, overall operational expenses, also including sales and marketing ("S&M") and general and administrative ("G&A") expenses, increased in aggregate only slightly by 0.5% to 36,019 kEUR for the third quarter of 2025 compared to the third quarter of 2024.

Net other operating income amounted to 890 kEUR compared to 872 kEUR for the third quarter of 2024.

The operating result amounted to 2,522 kEUR compared to 4,313 kEUR for the third quarter of 2024.

Net financial result was (121) kEUR compared to (1,137) kEUR for the third quarter of 2024.

The third quarter of 2025 contained income tax results of (553) kEUR compared to (138) kEUR in the third quarter of 2024.

As a result of the above, net profit for the third quarter of 2025 was 1,848 kEUR compared to 3,038 kEUR for the same period in 2024. Total comprehensive income for the third quarter of 2025, which includes exchange differences on translation of foreign operations, was 1,885 kEUR compared to 3,777 kEUR for the corresponding 2024 period.

At September 30, 2025, we reported 132,022 kEUR cash and cash equivalents on our balance sheet compared to 102,304 kEUR at December 31, 2024. Gross debt amounted to 64,278 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 67,744 kEUR, an increase of 6,724 KEUR compared to December 31, 2024.

Cash flow from operating activities for the third quarter of the year 2025 was 10,359 kEUR, compared to 6,870 kEUR for the same period in 2024. Total capital expenditures for the third quarter of 2025 amounted to 5,288 kEUR.

Net shareholders' equity at September 30, 2025 increased to 251,448 kEUR compared to 248,578 kEUR at December 31, 2024.

**2025 Guidance**

Mrs. de Vet-Veithen concluded, *"As we approach the end of 2025, geo-political volatility and macro-economic uncertainty continue to impact the business environment in which we operate. We remain confident that our business is solid and resilient, and that Materialise is strongly positioned to capture growth opportunities once market conditions improve. For fiscal year 2025, we believe that our full-year revenues will land within the 265,000 to 280,000 kEUR range we communicated in July and we are maintaining our Adjusted EBIT guidance of 6,000 kEUR to 10,000 kEUR."*

 

**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 1.1741, the reference rate of the European Central Bank on September 30, 2025.

**Conference Call and Webcast**

Materialise will hold a conference call and simultaneous webcast to discuss its financial results for the third quarter of 2025 on Tuesday, October 28, 2025, at 8:30 a.m. ET/1:30 p.m. CET. Company participants on the call will include Brigitte de Vet-Veithen, Chief Executive Officer and Koen Berges, Chief Financial Officer. A question-and-answer session will follow management's remarks.

To access the call by phone, please click the link below at least 15 minutes prior to the scheduled start time and you will be provided with dial-in details. Participants can choose to dial in or receive a call to connect to Materialise's conference call.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· <u>https://register-conf.media-server.com/register/BI3e50fd3de7714d018b8bbb70a7d71cb6</u> 

The conference call will also be broadcast live over the Internet with an accompanying slide presentation, which can be accessed on the company's website at http://investors.materialise.com. The webcast of the conference call will be archived on the company's website for one year.

**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. For additional information, please visit: www.materialise.com.

**Cautionary Statement on Forward-Looking Statements**

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things, our intentions, beliefs, assumptions, projections, outlook, analyses or current expectations, plans, objectives, strategies and prospects, both financial and business, including statements concerning, among other things, our estimates for the current fiscal year's revenue and Adjusted EBIT, our results of operations, cash needs, capital expenditures, expenses, financial condition, liquidity, prospects, growth and strategies (including how our business, results of operations and financial condition could be impacted by the current armed geopolitical conflicts around the world and governmental responses thereto, inflation, increased labor, energy and materials costs), policy changes resulting from the U.S. presidential administration, changes in tariffs and trade restrictions, and the trends and competition that may affect the markets, industry or us. Such statements are subject to known and unknown uncertainties and risks. When used in this press release, the words "estimate," "expect," "anticipate," "project," "plan," "intend," "believe," "forecast," "will," "may," "could," "might," "aim," "should," and variations of such words or similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon the expectations of management under current assumptions at the time of this press release. These expectations, beliefs and projections are expressed in good faith and the company believes there is a reasonable basis for them. However, the company cannot offer any assurance that our expectations, beliefs and projections will actually be achieved. By their nature, forward-looking statements involve risks and uncertainties because they relate to events, competitive dynamics and industry change, and depend on economic circumstances that may or may not occur in the future or may occur on longer or shorter timelines than anticipated. We caution you that forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that are in some cases beyond our control. All of the forward-looking statements are subject to risks and uncertainties that may cause the company's actual results to differ materially from our expectations, including risk factors described in the company's most recent annual report on Form 20-F filed with the U.S. Securities and Exchange Commission. There are a number of risks and uncertainties that could cause the company's actual results to differ materially from the forward-looking statements contained in this press release.

The company is providing this information as of the date of this press release and does not undertake any obligation to update any forward-looking statements contained in this press release as a result of new information, future events or otherwise, unless it has obligations under the federal securities laws to update and disclose material developments related to previously disclosed information.

**Consolidated income statements (Unaudited)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **for the three months ended<br> September 30,** | **for the three months ended<br> September 30,** | **for the three months ended<br> September 30,** | **for the nine months<br> ended September 30,** | **for the nine months<br> ended September 30,** |
| In '000 | **2025** | **2025** | **2024** | **2025** | **2024** |
|  | **U.S.$** | **€** | **€** | **€** | **€** |
| Revenue | 77795 | 66259 | 68652 | 197469 | 201085 |
| Cost of Sales | (33589) | (28608) | (29355) | (85298) | (86625) |
| **Gross Profit** | **44206** | **37651** | **39297** | **112171** | **114461** |
| Gross profit as % of revenue | 56.8% | 56.8% | 57.2% | 56.8% | 56.9% |
| Research and development expenses | (13431) | (11439) | (10979) | (33973) | (32301) |
| Sales and marketing expenses | (17432) | (14847) | (14896) | (45386) | (45130) |
| General and administrative expenses | (11427) | (9733) | (9981) | (29506) | (29195) |
| Net other operating income (expenses) | 1045 | 890 | 872 | 2519 | 2866 |
| **Operating (loss) profit** | **2961** | **2522** | **4313** | **5825** | **10700** |
| Financial expenses | (683) | (582) | (1843) | (7393) | (4082) |
| Financial income | 541 | 460 | 706 | 3345 | 5489 |
| **(Loss) profit before taxes** | **2819** | **2401** | **3176** | **1777** | **12106** |
| Income Taxes | (649) | (553) | (138) | (266) | (1607) |
| **Net (loss) profit for the period** | **2170** | **1848** | **3038** | **1510** | **10500** |
| &nbsp;&nbsp;Net (loss) profit attributable to: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;The owners of the parent | 2169 | 1848 | 3045 | 1512 | 10520 |
| &nbsp;&nbsp;&nbsp;&nbsp;Non-controlling interest |  |  | (7) | (2) | (20) |
| **Earning per share attributable to owners of the parent** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Basic | 0.04 | 0.03 | 0.05 | 0.03 | 0.18 |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted | 0.04 | 0.03 | 0.05 | 0.03 | 0.18 |
| Weighted average basic shares outstanding | 59067 | 59067 | 59067 | 59067 | 59067 |
| Weighted average diluted shares outstanding | 59067 | 59067 | 59067 | 59071 | 59067 |

---

**Consolidated statements of comprehensive income (Unaudited)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **for the three months ended<br> September 30,** | **for the three months ended<br> September 30,** | **for the three months ended<br> September 30,** | **for the nine months ended September 30,** | **for the nine months ended September 30,** |
| In 000€ | **2025** | **2025** | **2024** | **2025** | **2024** |
|  | **U.S.$** | **€** | **€** | **€** | **€** |
| **Net profit (loss) for the period** | **2170** | **1848** | **3038** | **1510** | **10500** |
| **Other comprehensive income** |  |  |  |  |  |
| ***Recycling*** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Exchange difference on translation of foreign operations | 44 | 38 | 739 | 1167 | (317) |
| **Other comprehensive income (loss), net of taxes** | **44** | **38** | **739** | **1167** | **(317)** |
| **Total comprehensive income (loss) for the year, net of taxes** | **2213** | **1885** | **3777** | **2677** | **10183** |
| Total comprehensive income (loss) attributable to: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;The owners of the parent | **2214** | **1886** | **3785** | **2670** | **10204** |
| &nbsp;&nbsp;&nbsp;&nbsp;Non-controlling interests | (0) | (0) | (7) | 7 | (22) |

---

**Consolidated statement of financial position (Unaudited)**

---

| | | |
|:---|:---|:---|
| | **As of<br> September 30,** | **As of<br> December 31,** |
| <br>In 000€ | **2025** | **2024** |
| **Assets** |  |  |
| &nbsp;&nbsp;**Non-current assets** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Goodwill | 43148 | 43391 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Intangible assets | 26651 | 29973 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Property, plant & equipment | 111831 | 111331 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Right-of-Use assets | 6073 | 7719 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred tax assets | 3423 | 3523 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments in convertible loans | 4179 | 3994 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other non-current assets | 5663 | 5893 |
| &nbsp;&nbsp;**Total non-current assets** | **200968** | **205823** |
| **Current assets** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventories | 15678 | 16992 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trade receivables | 44894 | 53052 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other current assets | 17569 | 18166 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | 132022 | 102304 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Assets held for sale | 4383 |  |
| &nbsp;&nbsp;**Total current assets** | **214545** | **190513** |
| **Total assets** | **415513** | **396336** |

---

---

| | | |
|:---|:---|:---|
| | **As of<br> September 30,** | **As of<br> December 31,** |
| <br>In 000€ | **2025** | **2024** |
| **Equity and liabilities** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Equity** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Share capital | 4487 | 4487 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Share premium | 233895 | 233895 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Retained earnings and other reserves | 13066 | 10196 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Equity attributable to the owners of the parent** | **251448** | **248578** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-controlling interest | (79) | (86) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total equity** | **251369** | **248492** |
| **Non-current liabilities** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loans & borrowings | 50029 | 23175 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lease liabilities | 3522 | 5112 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred tax liabilities | 2826 | 3202 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred income | 16749 | 13268 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other non-current liabilities | 421 | 910 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total non-current liabilities** | **73547** | **45666** |
| **Current liabilities** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loans & borrowings | 7909 | 10383 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lease liabilities | 2818 | 2614 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trade payables | 18858 | 23348 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tax payables | 388 | 1432 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred income | 41592 | 45998 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other current liabilities | 18195 | 18403 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Liabilities held for sale | 838 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total current liabilities** | **90598** | **102178** |
| **Total equity and liabilities** | **415513** | **396336** |

---

**Consolidated statement of cash flows (Unaudited)**

---

| | | |
|:---|:---|:---|
| | **for the nine months ended<br> September 30,** | **for the nine months ended<br> September 30,** |
| <br>In 000€ | **2025** | **2024** |
| **Operating activities** |  |  |
| Net (loss) profit for the period | 1510 | 10500 |
| Non-cash and operational adjustments | 20198 | 16964 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation of property plant & equipment | 11317 | 11370 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization of intangible assets | 4834 | 4838 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Share-based payment expense | 191 | 213 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loss (gain) on disposal of intangible assets and property, plant & equipment | (24) | (114) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Government grants | (209) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Movement in provisions | (273) | 311 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Movement reserve for bad debt and slow moving inventory | 194 | 202 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financial income | (3339) | (5492) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financial expense | 7385 | 4066 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Impact of foreign currencies | (137) | (15) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Deferred) income taxes | 260 | 1584 |
| Working capital adjustments | (2282) | (3860) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Decrease (increase) in trade receivables and other receivables | 6197 | 1666 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Decrease (increase) in inventories and contracts in progress | (1604) | (672) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Increase (decrease) in deferred revenue | (2661) | (4284) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Increase (decrease) in trade payables and other payables | (4214) | (569) |
| Income tax paid | (1358) | (1626) |
| Interest received | 1977 | 3262 |
| **Net cash flow from operating activities** | **20045** | **25239** |

---

---

| | | |
|:---|:---|:---|
| | **for the nine months ended<br> September 30,** | **for the nine months ended<br> September 30,** |
| <br>In 000€ | **2025** | **2024** |
| **Investing activities** |  |  |
| &nbsp;&nbsp;Purchase of property, plant & equipment | (10372) | (17305) |
| &nbsp;&nbsp;Purchase of intangible assets | (1477) | (1312) |
| &nbsp;&nbsp;Proceeds from the sale of property, plant & equipment & intangible assets (net) | 231 | 232 |
| &nbsp;&nbsp;Acquisition of subsidiary (net of cash) |  | (2670) |
| &nbsp;&nbsp;Capital government grants received | 2678 |  |
| **Net cash flow used in investing activities** | **(8940)** | **(21055)** |
| **Financing activities** |  |  |
| &nbsp;&nbsp;Proceeds from loans & borrowings | 35000 |  |
| &nbsp;&nbsp;Repayment of loans & borrowings | (10461) | (11470) |
| &nbsp;&nbsp;Repayment of leases | (2257) | (2314) |
| &nbsp;&nbsp;Capital increase |  |  |
| &nbsp;&nbsp;Interest paid | (1209) | (1052) |
| &nbsp;&nbsp;Other financial income (expense) | (1515) | (240) |
| **Net cash flow from (used in) financing activities** | **19558** | **(15077)** |
| **Net increase/(decrease) of cash & cash equivalents** | **30663** | **(10892)** |
| &nbsp;&nbsp;Cash & Cash equivalents at the beginning of the year | 102304 | 127573 |
| &nbsp;&nbsp;Exchange rate differences on cash & cash equivalents | (915) | (517) |
| **Cash & cash equivalents at end of the period** | **132052** | **116163** |

---

**Reconciliation of Net Profit (Loss) to EBITDA and Adjusted EBITDA (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **for the three months ended<br> September 30,** | **for the three months ended<br> September 30,** | **for the nine months ended<br> September 30,** | **for the nine months ended<br> September 30,** |
| <br>In 000€ | **2025** | **2024** | **2025** | **2024** |
| **Net profit (loss) for the period** | **1848** | **3038** | **1510** | **10500** |
| &nbsp;&nbsp;&nbsp;&nbsp;Income taxes | 553 | 138 | 266 | 1607 |
| &nbsp;&nbsp;&nbsp;&nbsp;Financial expenses | 582 | 1843 | 7393 | 4082 |
| &nbsp;&nbsp;&nbsp;&nbsp;Financial income | (460) | (706) | (3345) | (5489) |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 5509 | 5487 | 16240 | 16241 |
| **EBITDA** | **8031** | **9800** | **22065** | **26941** |
| Share-based compensation expense (1) | 74 | 71 | 191 | 213 |
| Restructuring and corporate initiatives (2) | 322 |  | 605 |  |
| Acquisition-related expenses of business combinations (3) |  | 24 |  | 24 |
| **Adjusted EBITDA** | **8428** | **9895** | **22862** | **27178** |

---

(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> September 30,** | **for the three months ended<br> September 30,** | **for the nine months ended<br> September 30,** | **for the nine months ended<br> September 30,** |
| <br>In 000€ | **2025** | **2024** | **2025** | **2024** |
| **Net profit (loss) for the period** | **1848** | **3038** | **1510** | **10500** |
| &nbsp;&nbsp;&nbsp;&nbsp;Income taxes | 553 | 138 | 266 | 1607 |
| &nbsp;&nbsp;&nbsp;&nbsp;Financial expenses | 582 | 1843 | 7393 | 4082 |
| &nbsp;&nbsp;&nbsp;&nbsp;Financial income | (460) | (706) | (3345) | (5489) |
| **EBIT** | **2522** | **4313** | **5825** | **10700** |
| Share-based compensation expense (1) | 74 | 71 | 191 | 213 |
| Restructuring and corporate initiatives (2) | 322 |  | 605 |  |
| Acquisition-related expenses of business combinations (3) |  | 24 |  | 24 |
| **Adjusted EBIT** | **2918** | **4408** | **6621** | **10937** |

---

(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> (1)** | **Consolidated** |
| **For the three months ended September 30, 2025** |  |  |  |  |  |  |
| Revenues | 33296 | 10286 | 22677 | 66259 | 0 | 66259 |
| Segment (adj) EBITDA | 10199 | 1801 | (845) | 11155 | (2728) | 8428 |
| Segment (adj) EBITDA % | 30.6% | 17.5% | -3.7% | 16.8% |  | 12.7% |
| **For the three months ended September 30, 2024** |  |  |  |  |  |  |
| Revenues | 30197 | 11111 | 27344 | 68652 | (0) | 68652 |
| Segment (adj) EBITDA | 9895 | 1975 | 701 | 12572 | (2677) | 9895 |
| Segment (adj) EBITDA % | 32.8% | 17.8% | 2.6% | 18.3% |  | 14.4% |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| In 000€ | **Materialise<br> Medical** | **Materialise<br> Software** | **Materialise<br> Manufacturing** | **Total<br> segments** | **Unallocated<br> (1)** | **Consolidated** |
| **For the nine months ended September 30, 2025** |  |  |  |  |  |  |
| Revenues | 97224 | 29933 | 70313 | 197469 | 0 | 197469 |
| Segment (adj) EBITDA | 29974 | 3772 | (2031) | 31716 | (8854) | 22862 |
| Segment (adj) EBITDA % | 30.8% | 12.6% | -2.9% | 16.1% |  | 11.6% |
| **For the nine months ended September 30, 2024** |  |  |  |  |  |  |
| Revenues | 84522 | 32775 | 83789 | 201085 | 0 | 201085 |
| Segment (adj) EBITDA | 26015 | 4439 | 4648 | 35103 | (7925) | 27178 |
| Segment (adj) EBITDA % | 30.8% | 13.5% | 5.5% | 17.5% |  | 13.5% |

---

(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> September 30,** | **for the three months ended<br> September 30,** | **for the nine months ended<br> September 30,** | **for the nine months ended<br> September 30,** |
| <br>In 000€ | **2025** | **2024** | **2025** | **2024** |
| **Net profit (loss) for the period** | **1848** | **3038** | **1510** | **10500** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income taxes | 553 | 138 | 266 | 1607 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financial cost | 582 | 1843 | 7393 | 4082 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financial income | (460) | (706) | (3345) | (5489) |
| **Operating (loss) profit** | **2522** | **4313** | **5825** | **10700** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 5509 | 5487 | 16240 | 16241 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate research and development | 826 | 912 | 2926 | 2675 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate headquarter costs | 2761 | 2454 | 8512 | 7537 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other operating income (expense) | (685) | (618) | (2187) | (2073) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Segment restructuring and reorganization | 222 |  | 400 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Acquisition-related expenses of business combinations (1) |  | 24 |  | 24 |
| **Segment adjusted EBITDA** | **11155** | **12572** | **31716** | **35103** |

---

(1) Acquisition-related expenses of business combinations represent expenses incurred in connection with the acquisition of Feops.