M & T: what changed
What changed
M & T
NACE 49.410, Freight transport by road
filed annual accounts (NBB)
Net result for the year
€35,185
2024 · €49,898-€14,712
Equity
€281,468
2024 · €246,283+€35,185
Cash
€89,127
2024 · €201,661-€112,534
Balance sheet total
€908,265
2024 · €874,854+€33,411
Largest movements
Assets
- Cash -€112,534
down €112,534 (-55.8%), from €201,661 to €89,127
mainly Investment in fixed assets (net) (-€179,861) and Other debts (-€36,135)
- Tangible fixed assets +€95,447
up €95,447 (+32.1%), from €297,279 to €392,726
of which Leasing and similar rights: +€57,132
- Receivables within one year +€26,283
up €26,283 (+7.5%), from €351,920 to €378,203
of which Trade receivables: +€17,402
- Deferred charges and accrued income +€24,215
up €24,215 (+101%), from €23,994 to €48,209
Equity and liabilities
- Debts after one year +€37,542
up €37,542 (+26.4%), from €142,344 to €179,886
- Other debts -€36,135
no longer reported in 2025 (was €36,135)
- Profit (loss) carried forward +€35,185
up €35,185 (+20.1%), from €174,783 to €209,968
- Trade debts -€27,767
down €27,767 (-17.2%), from €161,084 to €133,317
- Current portion of long-term debt +€25,816
up €25,816 (+25.8%), from €100,190 to €126,006
Income statement
- Staff costs +€126,230
up €126,230 (+11.9%), from €1.1m to €1.2m
- Gross operating margin +€109,720
up €109,720 (+8.7%), from €1.3m to €1.4m
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€49,898
Gross operating margin
+€109,720
Staff costs
-€126,230
Depreciation
-€11,684
Other operating charges
+€579
Financial income
+€4
Financial charges
+€4,127
Taxes
+€8,771
Result 2025
€35,185
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€3,969
Investment
-€179,861
Financing
+€63,358
Cash 2024
€201,661
From operations (derived)
+€3,969
Net result for the year
+€35,185
Depreciation
+€84,414
Receivables within one year
-€26,283
Deferred charges and accrued income
-€24,215
Trade debts
-€27,767
Tax, wage and social debts
-€1,230
Other debts
-€36,135
Investment (derived)
-€179,861
Investment in fixed assets (net)
-€179,861
Financing
+€63,358
Debts after one year
+€37,542
Current portion of long-term debt
+€25,816
Cash 2025
€89,127
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €874,854 | €908,265 | +€33,411 | +3.8% |
| Fixed assets | 21/28 | €297,279 | €392,726 | +€95,447 | +32.1% |
| Tangible fixed assets | 22/27 | €297,279 | €392,726 | +€95,447 | +32.1% |
| Plant, machinery and equipment | 23 | €6,476 | €24,802 | +€18,326 | +283% |
| Furniture and vehicles | 24 | €130,390 | €150,380 | +€19,990 | +15.3% |
| Leasing and similar rights | 25 | €160,413 | €217,544 | +€57,132 | +35.6% |
| Current assets | 29/58 | €577,575 | €515,539 | -€62,036 | -10.7% |
| Amounts receivable within one year | 40/41 | €351,920 | €378,203 | +€26,283 | +7.5% |
| Trade receivables | 40 | €340,140 | €357,541 | +€17,402 | +5.1% |
| Other amounts receivable | 41 | €11,780 | €20,661 | +€8,881 | +75.4% |
| Cash at bank and in hand | 54/58 | €201,661 | €89,127 | -€112,534 | -55.8% |
| Deferred charges and accrued income | 490/1 | €23,994 | €48,209 | +€24,215 | +101% |
| Total equity and liabilities | 10/49 | €874,854 | €908,265 | +€33,411 | +3.8% |
| Equity | 10/15 | €246,283 | €281,468 | +€35,185 | +14.3% |
| Contributions | 10/11 | €65,000 | €65,000 | = | 0.0% |
| Capital | 10 | €65,000 | €65,000 | = | 0.0% |
| Issued capital | 100 | €65,000 | €65,000 | = | 0.0% |
| Reserves | 13 | €6,500 | €6,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,500 | €6,500 | = | 0.0% |
| Legal reserve | 130 | €6,500 | €6,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €174,783 | €209,968 | +€35,185 | +20.1% |
| Amounts payable | 17/49 | €628,572 | €626,797 | -€1,775 | -0.3% |
| Amounts payable after more than one year | 17 | €142,344 | €179,886 | +€37,542 | +26.4% |
| Financial debts | 170/4 | €142,344 | €179,886 | +€37,542 | +26.4% |
| Amounts payable within one year | 42/48 | €486,228 | €446,911 | -€39,317 | -8.1% |
| Current portion of amounts payable after more than one year | 42 | €100,190 | €126,006 | +€25,816 | +25.8% |
| Trade debts | 44 | €161,084 | €133,317 | -€27,767 | -17.2% |
| Suppliers | 440/4 | €161,084 | €133,317 | -€27,767 | -17.2% |
| Taxes, remuneration and social security | 45 | €188,818 | €187,588 | -€1,230 | -0.7% |
| Taxes | 450/3 | €79,940 | €69,556 | -€10,383 | -13.0% |
| Remuneration and social security | 454/9 | €108,879 | €118,032 | +€9,153 | +8.4% |
| Other amounts payable | 47/48 | €36,135 | - | -€36,135 | |
| Non-recurring operating income | 76A | €497 | - | -€497 | |
| Remuneration, social security and pensions | 62 | €1,059,390 | €1,185,620 | +€126,230 | +11.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €72,731 | €84,414 | +€11,684 | +16.1% |
| Other operating charges | 640/8 | €20,686 | €20,106 | -€579 | -2.8% |
| Gross operating margin | 9900 | €1,259,107 | €1,368,827 | +€109,720 | +8.7% |
| Operating profit (loss) | 9901 | €106,300 | €78,686 | -€27,614 | -26.0% |
| Financial income | 75/76B | €2 | €6 | +€4 | +178% |
| Recurring financial income | 75 | €2 | €6 | +€4 | +178% |
| Financial charges | 65/66B | €29,097 | €24,971 | -€4,127 | -14.2% |
| Recurring financial charges | 65 | €27,685 | €24,971 | -€2,714 | -9.8% |
| Non-recurring financial charges | 66B | €1,412 | - | -€1,412 | |
| Profit (loss) for the period before taxes | 9903 | €77,205 | €53,721 | -€23,483 | -30.4% |
| Income taxes | 67/77 | €27,307 | €18,536 | -€8,771 | -32.1% |
| Profit (loss) for the period | 9904 | €49,898 | €35,185 | -€14,712 | -29.5% |
| Profit (loss) for the period to be appropriated | 9905 | €49,898 | €35,185 | -€14,712 | -29.5% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.