MTM (0449.789.196): financials and annual accounts

MTM

Heuvelland ·KBO/BCE: BE 0449.789.196

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006
Balance sheet: assets
Total assets`20/58`	205,377	265,686	225,809	266,789	246,381	221,392	209,270	213,204	214,876	212,376	209,108	206,964	218,069	225,522	235,379	290,646	281,422	295,781	316,864	366,211
Formation expenses`20`	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	927	1,853	2,780
Fixed assets`21/28`	163,169	190,754	170,502	209,650	210,122	209,725	208,412	209,508	210,603	211,699	207,628	201,672	209,247	222,768	233,748	257,364	278,250	289,598	306,150	347,178
Tangible fixed assets`22/27`	163,169	190,754	170,502	209,650	210,122	209,725	208,412	209,508	210,603	211,699	207,628	201,672	209,247	222,768	233,748	257,364	278,250	288,671	304,297	344,398
Land and buildings`22`	107,728	133,380	145,025	174,794	206,245	204,262	204,262	204,262	204,262	204,262	199,095	193,333	205,475	217,617	229,979	252,014	274,365	282,540	287,903	314,206
Plant, machinery and equipment`23`	0	0	0	0	191	481	771	1,061	1,351	1,641	1,931	2,408	2,884	3,361	747	1,096	742	1,442	2,259	1,347
Furniture and vehicles`24`	47,225	41,075	1,095	2,390	3,686	4,981	3,379	4,185	4,990	5,796	6,601	5,931	888	1,790	3,022	4,254	3,143	4,689	14,135	28,845
Leasing and similar rights`25`	8,216	16,299	24,382	32,465	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Current assets`29/58`	42,208	74,932	55,307	57,139	36,258	11,668	858	3,697	4,273	677	1,480	5,293	8,821	2,754	1,631	33,282	3,172	6,183	10,714	19,033
Stocks and contracts in progress`3`	-	1,155	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,700	9,440
Stocks`30/36`	-	1,155	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,700	9,440
Amounts receivable within one year`40/41`	12,900	28,188	14,083	13,431	5,572	6,990	234	2,428	679	224	1,208	1,378	2,092	2,240	-	2,985	1,627	2,581	7,153	4,748
Trade receivables`40`	12,582	7,597	-	-	3,000	6,050	-	-	-	-	-	-	1,704	1,150	-	71	-	2,581	7,153	4,177
Other amounts receivable`41`	317	20,591	14,083	13,431	2,572	940	234	2,428	679	224	1,208	1,378	388	1,090	-	2,914	1,627	-	-	571
Current investments`50/53`	100	100	100	100	100	100	250	800	4	4	4	4	4	4	4	4	152	150	147	145
Cash at bank and in hand`54/58`	24,714	40,970	36,519	42,232	29,356	4,577	374	468	3,590	449	268	3,911	6,550	510	1,627	28,901	-	2,059	1,714	4,057
Deferred charges and accrued income`490/1`	4,494	4,520	4,605	1,375	1,230	-	-	-	-	-	-	-	175	-	-	1,392	1,393	1,393	-	643
Balance sheet: equity and liabilities
Total equity and liabilities`10/49`	205,377	265,686	225,809	266,789	246,381	221,392	209,270	213,204	214,876	212,376	209,108	206,964	218,069	225,522	235,379	290,646	281,422	295,781	316,864	366,211
Equity`10/15`	-134,183	-97,174	-56,377	-23,174	-26,009	-30,731	-28,456	-16,198	-7,253	-6,531	927	8,022	23,851	31,999	46,685	39,634	7,747	-3,242	-5,253	-6,256
Contributions`10/11`	50,000	50,000	50,000	50,000	50,000	50,000	50,000	50,000	50,000	50,000	50,000	50,000	50,000	50,000	50,000	50,000	50,000	50,000	50,000	50,000
Issued capital`100`	-	-	-	-	-	-	50,000	50,000	50,000	50,000	50,000	50,000	50,000	50,000	50,000	50,000	50,000	50,000	50,000	50,000
Reserves`13`	10,527	10,527	10,527	10,527	10,527	10,527	10,527	10,527	10,527	10,527	10,527	10,527	10,527	10,527	10,527	10,527	10,527	6,527	5,522	5,523
Non-distributable reserves`130/1`	-	-	-	623	623	623	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Legal reserve`130`	-	-	-	-	-	-	623	623	623	623	623	623	623	623	623	623	623	623	623	623
Reserves not available under the articles`1311`	-	-	-	623	623	623	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Tax-exempt reserves`132`	5,005	5,005	5,005	5,005	5,005	5,005	5,005	5,005	5,005	5,005	5,005	5,005	5,005	5,005	5,005	5,005	5,005	1,005	-	-
Distributable reserves`133`	5,522	5,522	5,522	4,899	4,899	4,899	4,899	4,899	4,899	4,899	4,899	4,899	4,899	4,899	4,899	4,899	4,899	4,899	4,899	4,900
Profit (loss) carried forward`14`	-194,710	-157,701	-116,905	-83,701	-86,536	-91,258	-88,983	-76,725	-67,781	-67,058	-59,600	-52,506	-36,676	-28,528	-13,842	-20,893	-52,780	-59,769	-60,775	-61,779
Amounts payable`17/49`	339,560	362,860	282,187	289,963	272,389	252,123	237,725	229,402	222,129	218,907	208,181	198,943	194,218	193,523	188,694	251,012	273,675	299,023	322,117	372,467
Amounts payable after more than one year`17`	25,037	40,485	14,540	21,460	-	-	-	-	-	-	-	-	-	-	-	-	108,210	133,105	169,956	188,995
Financial debts`170/4`	25,037	40,485	14,540	21,460	-	-	-	-	-	-	-	-	-	-	-	-	108,210	133,105	169,956	188,995
Amounts payable within one year`42/48`	314,524	322,374	267,647	268,502	272,389	252,123	237,725	229,402	222,129	218,282	208,181	198,943	194,218	193,523	188,694	251,012	165,465	165,918	152,161	183,344
Current portion of amounts payable after more than one year`42`	15,449	15,035	6,920	6,824	-	-	-	-	-	-	-	-	-	-	-	-	24,895	24,750	36,707	32,577
Financial debts`43`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	9,079	10	-	8
Credit institutions`430/8`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	9,079	10	-	8
Trade debts`44`	335	3,800	2,038	674	6,524	12,617	7,785	152	336	1,960	1,421	3,188	20	825	6,596	22,810	35,688	47,496	22,457	30,642
Suppliers`440/4`	335	3,800	2,038	674	6,524	12,617	7,785	152	336	1,960	1,421	3,188	20	825	6,596	22,810	35,688	47,496	22,457	30,642
Taxes, remuneration and social security`45`	1,248	1,248	1,796	170	2,178	150	426	1,268	561	257	-	-	106	163	27,627	26,199	9,784	4,788	4,312	4,206
Taxes`450/3`	1,248	1,248	1,796	170	2,178	150	426	1,268	561	257	-	-	106	163	27,627	26,199	8,012	3,016	2,540	2,434
Remuneration and social security`454/9`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,772	1,772	1,772	1,772
Other amounts payable`47/48`	297,492	302,291	256,893	260,834	263,687	239,357	229,514	227,982	221,232	216,065	206,760	195,755	194,092	192,535	154,471	202,003	86,019	88,874	88,685	115,911
Accrued charges and deferred income`492/3`	-	-	-	-	-	-	-	-	-	625	-	-	-	-	-	-	-	-	-	128
Income statement
Non-recurring operating income`76A`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,309	-	-	-	140
Gross operating margin`9900`	7,376	5,645	10,221	46,406	8,841	183	-2,385	-5,326	1,553	-5,166	-4,715	-597	6,560	269	44,004	87,361	56,350	47,495	59,450	48,624
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets`630`	39,402	38,753	39,147	40,888	1,586	1,138	1,096	1,096	1,096	1,096	1,376	14,062	13,520	13,880	26,097	26,115	27,859	30,313	43,015	46,273
Other operating charges`640/8`	3,052	6,512	3,704	1,880	2,473	1,235	8,738	2,496	1,138	1,126	1,121	1,118	1,108	1,039	1,786	1,472	1,460	2,464	3,661	1,524
Non-recurring operating charges`66A`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,347	-	-
Operating profit (loss)`9901`	-35,079	-39,621	-32,630	3,638	4,782	-2,189	-12,219	-8,918	-681	-7,388	-7,212	-15,777	-8,069	-14,649	16,121	59,774	27,031	14,718	12,774	827
Financial income`75/76B`	-	23	-	-	-	9	1	0	-	-	176	1	1	0	509	3	3	4	24	46
Recurring financial income`75`	-	23	-	-	-	9	1	0	-	-	176	1	1	0	509	3	3	4	24	46
Financial charges`65/66B`	1,755	1,024	410	656	60	95	40	27	42	70	58	53	79	37	1,508	13,159	9,420	10,747	11,794	12,237
Recurring financial charges`65`	1,755	1,024	410	656	60	95	40	27	42	70	58	53	79	37	1,508	13,159	9,420	10,747	11,794	12,237
Profit (loss) for the period before taxes`9903`	-36,833	-40,622	-33,039	2,982	4,723	-2,276	-12,257	-8,945	-722	-7,458	-7,095	-15,829	-8,148	-14,686	15,122	50,927	17,614	2,628	1,004	-11,224
Income taxes`67/77`	176	174	164	147	-	-	-	-	-	-	-	0	0	0	8,071	19,040	6,625	617	-	-
Profit (loss) for the period`9904`	-37,010	-40,796	-33,204	2,835	4,723	-2,276	-12,257	-8,945	-722	-7,458	-7,095	-15,830	-8,148	-14,687	7,051	31,887	10,989	2,011	1,004	-11,224
Transfer to tax-exempt reserves`689`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,000	1,005	-	-
Profit (loss) for the period to be appropriated`9905`	-37,010	-40,796	-33,204	2,835	4,723	-2,276	-12,257	-8,945	-722	-7,458	-7,095	-15,830	-8,148	-14,687	7,051	31,887	6,989	1,006	1,004	-11,224
Appropriation of the result
Profit (loss) to be appropriated`9906`	-194,710	-157,701	-116,905	-83,701	-86,536	-91,258	-88,983	-76,725	-67,781	-67,058	-59,600	-52,506	-36,676	-28,528	-13,842	-20,893	-52,780	-59,769	-60,775	-61,779
Profit (loss) brought forward from the previous period`14P`	-157,701	-116,905	-83,701	-86,536	-91,258	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
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Financial year	Type	Filed	Reference	Document
31-12-2025	micro format	15-07-2026	2026-00295149	PDF
31-12-2024	micro format	19-06-2025	2025-00151733	PDF
31-12-2023	micro format	02-07-2024	2024-00200984	PDF
31-12-2022	micro format	15-07-2023	2023-00238603	PDF
31-12-2021	micro format	08-07-2022	2022-20162418	PDF
31-12-2020	micro format	13-07-2021	2021-34200127	PDF
31-12-2019	micro format	01-07-2020	2020-23500072	PDF
31-12-2018	micro format	29-08-2019	2019-53400096	PDF
31-12-2017	micro format	31-08-2018	2018-54900565	PDF
31-12-2016	micro format	31-08-2017	2017-52400422	PDF
31-12-2015	abbreviated format	30-08-2016	2016-49500576	PDF
31-12-2014	abbreviated format	31-08-2015	2015-50500091	PDF
31-12-2013	abbreviated format	25-08-2014	2014-45100143	PDF
31-12-2012	abbreviated format	27-08-2013	2013-46200331	PDF
31-12-2011	abbreviated format	31-08-2012	2012-48200516	PDF
31-12-2010	abbreviated format	30-05-2011	2011-12600572	PDF
31-12-2009	abbreviated format	29-09-2010	2010-55400453	PDF
31-12-2008	abbreviated format	28-09-2009	2009-77300303	PDF
31-12-2007	abbreviated format	26-09-2008	2008-74500186	PDF
31-12-2006	abbreviated format	24-07-2007	2007-44600004	PDF
31-12-2005	abbreviated format	30-08-2006	2006-74605075	PDF
31-12-2004	abbreviated format	02-08-2005	2005-62401240	PDF
31-12-2003	abbreviated format	29-09-2004	2004-68203914	PDF
31-12-2002	abbreviated format	28-07-2003	2003-52103737	PDF
31-12-2001	abbreviated format	25-09-2002	2002-58603675	PDF
31-12-2000	abbreviated format	10-07-2001	2001-36201187	PDF
31-12-1999	abbreviated format	19-06-2000	2000-24100631	PDF
31-12-1998	abbreviated format	15-07-1999	1999-34103565	PDF
31-12-1997	abbreviated format	03-07-1998	1998-29301616	PDF
31-12-1996	abbreviated format	12-06-1997	1997-14802757	PDF
31-12-1995	abbreviated format	27-06-1996	1996-21904753	PDF
31-12-1994	abbreviated format	17-07-1995	1995-40003958	PDF
31-12-1993	abbreviated format	30-06-1994	1994-23901504	PDF

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006
EBITDA	4,324	-868	6,518	44,526	6,368	-1,051	-11,124	-7,822	415	-6,292	-5,835	-1,715	5,452	-769	42,218	85,889	54,890	45,031	55,789	47,100
Cash flow	2,393	-2,043	5,944	43,723	6,308	-1,138	-11,162	-7,849	373	-6,362	-5,718	-1,768	5,373	-807	33,148	58,002	38,848	32,324	44,019	35,049
Investment in fixed assets (approximation)	11,818	59,004	0	40,416	1,983	2,450	0	0	0	5,167	7,332	6,486	0	2,900	2,480	8,195	16,511	25,769	1,987	1,907
Change in cash	-16,256	4,451	-5,713	12,876	24,779	4,204	-95	-3,121	3,140	181	-3,642	-2,639	6,040	-1,117	-27,274	-	-	345	-2,343	-
Working capital	-272,316	-247,442	-212,340	-211,363	-236,131	-240,456	-236,868	-225,706	-217,856	-217,604	-206,701	-193,650	-185,396	-190,769	-187,063	-217,730	-162,293	-159,735	-141,447	-164,311
Solvency	-65.3%	-36.6%	-25.0%	-8.7%	-10.6%	-13.9%	-13.6%	-7.6%	-3.4%	-3.1%	0.4%	3.9%	10.9%	14.2%	19.8%	13.6%	2.8%	-1.1%	-1.7%	-1.7%
Current ratio	0.13	0.23	0.21	0.21	0.13	0.05	0.00	0.02	0.02	0.00	0.01	0.03	0.05	0.01	0.01	0.13	0.02	0.04	0.07	0.10
Quick ratio	0.13	0.23	0.21	0.21	0.13	0.05	0.00	0.02	0.02	0.00	0.01	0.03	0.05	0.01	0.01	0.13	0.02	0.04	0.06	0.05
Debt to equity	-	-	-	-	-	-	-	-	-	-	-	24.80	8.14	6.05	4.04	6.33	35.33	-	-	-
ROE	-	-	-	-	-	-	-	-	-	-	-	-197.3%	-34.2%	-45.9%	15.1%	80.5%	141.8%	-	-	-
ROA	-18.0%	-15.4%	-14.7%	1.1%	1.9%	-1.0%	-5.9%	-4.2%	-0.3%	-3.5%	-3.4%	-7.6%	-3.7%	-6.5%	3.0%	11.0%	3.9%	0.7%	0.3%	-3.1%
Interest coverage	2.46	-0.85	15.90	67.91	over 100	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-

Item	2025	2024	2023	2022	2021
Tangible fixed assets	€11,818	€59,004	-	€40,416	€1,983
Depreciation and write-downs of the year	€39,402	€38,753	€39,147	€40,888	€1,586

MTM

Annual accounts 2025

Balance sheet

Change in equityin euro

Change in cashin euro

Position in the sector

Solvency-65.3%

Current ratio0.13

Return on assets-18.0%

Filed annual accounts

Filings

Key figures and ratios

Investments

Insights on MTM

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