M.C.T.: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
M.C.T.
Largest movements
- Tangible fixed assets +€178,257
up €178,257 (+57.8%), from €308,494 to €486,751
of which Land and buildings: +€177,465
- Receivables within one year +€23,623
up €23,623 (+55.4%), from €42,677 to €66,300
- Reserves +€166,862
up €166,862 (+155.9%), from €107,038 to €273,900
of which Tax-exempt reserves: +€166,862
- Provisions +€48,717
up €48,717 (+99.0%), from €49,195 to €97,911
of which Deferred taxes: +€87,735
- Debts after one year -€21,047
down €21,047 (-25.6%), from €82,295 to €61,249
- Other debts -€11,486
down €11,486 (-42.6%), from €26,954 to €15,467
- Tax, wage and social debts +€9,017
new in 2025: €9,017
- Gross operating margin +€21,622
up €21,622 (+106.7%), from €20,274 to €41,896
- Other operating charges +€17,955
new in 2025: €17,955
- Depreciation -€673
down €673 (-4.6%), from €14,782 to €14,109
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €356,349 | €553,705 | +€197,356 | +55.4% |
| Fixed assets | 21/28 | €308,494 | €486,751 | +€178,257 | +57.8% |
| Tangible fixed assets | 22/27 | €308,494 | €486,751 | +€178,257 | +57.8% |
| Land and buildings | 22 | €308,384 | €485,849 | +€177,465 | +57.5% |
| Furniture and vehicles | 24 | €110 | €902 | +€793 | +721.8% |
| Current assets | 29/58 | €47,855 | €66,954 | +€19,099 | +39.9% |
| Amounts receivable within one year | 40/41 | €42,677 | €66,300 | +€23,623 | +55.4% |
| Other amounts receivable | 41 | €42,677 | €66,300 | +€23,623 | +55.4% |
| Cash at bank and in hand | 54/58 | €5,168 | €654 | -€4,514 | -87.4% |
| Deferred charges and accrued income | 490/1 | €10 | - | -€10 | |
| Total equity and liabilities | 10/49 | €356,349 | €553,705 | +€197,356 | +55.4% |
| Equity | 10/15 | €173,868 | €345,929 | +€172,061 | +99.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €107,038 | €273,900 | +€166,862 | +155.9% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €100,838 | €267,700 | +€166,862 | +165.5% |
| Profit (loss) carried forward | 14 | €4,830 | €10,029 | +€5,199 | +107.6% |
| Provisions and deferred taxes | 16 | €49,195 | €97,911 | +€48,717 | +99.0% |
| Provisions for liabilities and charges | 160/5 | €49,195 | €10,176 | -€39,019 | -79.3% |
| Taxes | 161 | €39,019 | - | -€39,019 | |
| Major repairs and maintenance | 162 | €10,176 | €10,176 | = | 0.0% |
| Deferred taxes | 168 | - | €87,735 | +€87,735 | |
| Amounts payable | 17/49 | €133,286 | €109,864 | -€23,421 | -17.6% |
| Amounts payable after more than one year | 17 | €82,295 | €61,249 | -€21,047 | -25.6% |
| Financial debts | 170/4 | €82,295 | €61,249 | -€21,047 | -25.6% |
| Amounts payable within one year | 42/48 | €49,702 | €48,616 | -€1,087 | -2.2% |
| Current portion of amounts payable after more than one year | 42 | €20,344 | €21,047 | +€703 | +3.5% |
| Trade debts | 44 | €2,404 | €3,084 | +€680 | +28.3% |
| Suppliers | 440/4 | €2,404 | €3,084 | +€680 | +28.3% |
| Taxes, remuneration and social security | 45 | - | €9,017 | +€9,017 | |
| Taxes | 450/3 | - | €9,017 | +€9,017 | |
| Other amounts payable | 47/48 | €26,954 | €15,467 | -€11,486 | -42.6% |
| Accrued charges and deferred income | 492/3 | €1,288 | - | -€1,288 | |
| Remuneration, social security and pensions | 62 | €516 | €479 | -€37 | -7.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,782 | €14,109 | -€673 | -4.6% |
| Other operating charges | 640/8 | - | €17,955 | +€17,955 | |
| Gross operating margin | 9900 | €20,274 | €41,896 | +€21,622 | +106.7% |
| Operating profit (loss) | 9901 | €4,976 | €9,354 | +€4,378 | +88.0% |
| Financial income | 75/76B | €1 | €22 | +€21 | +2074.0% |
| Recurring financial income | 75 | €1 | €22 | +€21 | +2074.0% |
| Financial charges | 65/66B | €4,239 | €3,980 | -€258 | -6.1% |
| Recurring financial charges | 65 | €4,239 | €3,980 | -€258 | -6.1% |
| Profit (loss) for the period before taxes | 9903 | €738 | €5,395 | +€4,657 | +631.0% |
| Income taxes | 67/77 | - | €196 | +€196 | |
| Profit (loss) for the period | 9904 | €738 | €5,199 | +€4,461 | +604.5% |
| Profit (loss) for the period to be appropriated | 9905 | €738 | €5,199 | +€4,461 | +604.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.