M.T.C.: what changed
Two financial 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.T.C.
Largest movements
- Tangible fixed assets -€91,471
down €91,471 (-5.8%), from €1.6m to €1.5m
of which Land and buildings: -€82,770
- Cash -€33,085
down €33,085 (-23.1%), from €143,001 to €109,915
mainly Net result for the year (-€106,498) and Provisions (-€17,469)
- Deferred charges and accrued income -€18,345
down €18,345 (-88.2%), from €20,800 to €2,454
- Profit (loss) carried forward -€54,093
down €54,093 (-63.3%), from -€85,500 to -€139,593
- Reserves -€52,406
down €52,406 (-6.4%), from €819,543 to €767,137
of which Tax-exempt reserves: -€52,406
- Provisions -€17,469
down €17,469 (-6.6%), from €266,570 to €249,102
- Gross operating margin +€6,112
up €6,112 (+30.7%), from €19,894 to €26,007
- Staff costs +€1,793
up €1,793 (+3.9%), from €46,027 to €47,820
- Taxes +€483
new in 2025: €483
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.
Derived cash bridge
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 | €1,743,737 | €1,600,835 | -€142,901 | -8.2% |
| Fixed assets | 21/28 | €1,579,936 | €1,488,466 | -€91,471 | -5.8% |
| Tangible fixed assets | 22/27 | €1,579,936 | €1,488,466 | -€91,471 | -5.8% |
| Land and buildings | 22 | €1,545,859 | €1,463,089 | -€82,770 | -5.4% |
| Furniture and vehicles | 24 | €34,078 | €25,377 | -€8,701 | -25.5% |
| Current assets | 29/58 | €163,800 | €112,370 | -€51,431 | -31.4% |
| Cash at bank and in hand | 54/58 | €143,001 | €109,915 | -€33,085 | -23.1% |
| Deferred charges and accrued income | 490/1 | €20,800 | €2,454 | -€18,345 | -88.2% |
| Total equity and liabilities | 10/49 | €1,743,737 | €1,600,835 | -€142,901 | -8.2% |
| Equity | 10/15 | €932,356 | €825,858 | -€106,498 | -11.4% |
| Contributions | 10/11 | €198,314 | €198,314 | = | 0.0% |
| Capital | 10 | €198,314 | €198,314 | = | 0.0% |
| Issued capital | 100 | €198,314 | €198,314 | = | 0.0% |
| Reserves | 13 | €819,543 | €767,137 | -€52,406 | -6.4% |
| Non-distributable reserves | 130/1 | €19,831 | €19,831 | = | 0.0% |
| Legal reserve | 130 | €19,831 | €19,831 | = | 0.0% |
| Tax-exempt reserves | 132 | €799,711 | €747,305 | -€52,406 | -6.6% |
| Profit (loss) carried forward | 14 | -€85,500 | -€139,593 | -€54,093 | -63.3% |
| Provisions and deferred taxes | 16 | €266,570 | €249,102 | -€17,469 | -6.6% |
| Deferred taxes | 168 | €266,570 | €249,102 | -€17,469 | -6.6% |
| Amounts payable | 17/49 | €544,810 | €525,876 | -€18,935 | -3.5% |
| Amounts payable after more than one year | 17 | €284,284 | €268,221 | -€16,062 | -5.7% |
| Financial debts | 170/4 | €283,975 | €268,221 | -€15,753 | -5.5% |
| Other amounts payable | 178/9 | €309 | - | -€309 | |
| Amounts payable within one year | 42/48 | €240,064 | €235,106 | -€4,957 | -2.1% |
| Current portion of amounts payable after more than one year | 42 | €15,450 | €15,753 | +€303 | +2.0% |
| Trade debts | 44 | €88,287 | €83,925 | -€4,362 | -4.9% |
| Suppliers | 440/4 | €88,287 | €83,925 | -€4,362 | -4.9% |
| Taxes, remuneration and social security | 45 | €11,247 | €10,348 | -€899 | -8.0% |
| Taxes | 450/3 | €1,338 | - | -€1,338 | |
| Remuneration and social security | 454/9 | €9,909 | €10,348 | +€439 | +4.4% |
| Other amounts payable | 47/48 | €125,080 | €125,080 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €20,463 | €22,548 | +€2,085 | +10.2% |
| Remuneration, social security and pensions | 62 | €46,027 | €47,820 | +€1,793 | +3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €91,471 | €91,471 | = | 0.0% |
| Other operating charges | 640/8 | €4,111 | €4,049 | -€62 | -1.5% |
| Gross operating margin | 9900 | €19,894 | €26,007 | +€6,112 | +30.7% |
| Operating profit (loss) | 9901 | -€121,714 | -€117,333 | +€4,381 | +3.6% |
| Financial charges | 65/66B | €6,400 | €6,151 | -€250 | -3.9% |
| Recurring financial charges | 65 | €6,400 | €6,151 | -€250 | -3.9% |
| Profit (loss) for the period before taxes | 9903 | -€128,114 | -€123,484 | +€4,631 | +3.6% |
| Transfer from deferred taxes | 780 | €17,469 | €17,469 | +€0 | 0.0% |
| Income taxes | 67/77 | - | €483 | +€483 | |
| Profit (loss) for the period | 9904 | -€110,646 | -€106,498 | +€4,148 | +3.7% |
| Transfer from tax-exempt reserves | 789 | €52,406 | €52,406 | -€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€58,240 | -€54,093 | +€4,148 | +7.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.