M.T.C.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.C.
Largest movements
- Tangible fixed assets -€460,453
down €460,453 (-57.1%), from €806,371 to €345,918
of which Land and buildings: -€459,449
- Cash -€86,182
down €86,182 (-44.7%), from €192,776 to €106,594
mainly Contributions, distributions and other (-€719,000) and Other debts (-€29,318)
- Current investments -€15,634
down €15,634 (-42.5%), from €36,767 to €21,132
- Reserves -€512,000
down €512,000 (-56.0%), from €914,800 to €402,800
- Other debts -€29,318
down €29,318 (-44.2%), from €66,296 to €36,978
- Tax, wage and social debts -€19,280
no longer reported in 2025 (was €19,280)
- Gross operating margin +€316,728
up €316,728 (+4,075%), from €7,772 to €324,501
- Taxes +€77,307
up €77,307 (+395%), from €19,596 to €96,903
- Depreciation -€22,589
down €22,589 (-51.4%), from €43,925 to €21,336
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 | €1,036,209 | €475,641 | -€560,568 | -54.1% |
| Fixed assets | 21/28 | €806,371 | €345,918 | -€460,453 | -57.1% |
| Tangible fixed assets | 22/27 | €806,371 | €345,918 | -€460,453 | -57.1% |
| Land and buildings | 22 | €796,607 | €337,158 | -€459,449 | -57.7% |
| Furniture and vehicles | 24 | €9,764 | €8,760 | -€1,004 | -10.3% |
| Current assets | 29/58 | €229,838 | €129,723 | -€100,115 | -43.6% |
| Amounts receivable within one year | 40/41 | €215 | €1,500 | +€1,285 | +598% |
| Trade receivables | 40 | €215 | - | -€215 | |
| Other amounts receivable | 41 | - | €1,500 | +€1,500 | |
| Current investments | 50/53 | €36,767 | €21,132 | -€15,634 | -42.5% |
| Cash at bank and in hand | 54/58 | €192,776 | €106,594 | -€86,182 | -44.7% |
| Deferred charges and accrued income | 490/1 | €80 | €496 | +€417 | +522% |
| Total equity and liabilities | 10/49 | €1,036,209 | €475,641 | -€560,568 | -54.1% |
| Equity | 10/15 | €950,633 | €438,663 | -€511,970 | -53.9% |
| Contributions | 10/11 | €32,460 | €32,460 | = | 0.0% |
| Reserves | 13 | €914,800 | €402,800 | -€512,000 | -56.0% |
| Distributable reserves | 133 | €914,800 | €402,800 | -€512,000 | -56.0% |
| Profit (loss) carried forward | 14 | €3,373 | €3,403 | +€30 | +0.9% |
| Amounts payable | 17/49 | €85,576 | €36,978 | -€48,598 | -56.8% |
| Amounts payable within one year | 42/48 | €85,576 | €36,978 | -€48,598 | -56.8% |
| Taxes, remuneration and social security | 45 | €19,280 | - | -€19,280 | |
| Taxes | 450/3 | €19,280 | - | -€19,280 | |
| Other amounts payable | 47/48 | €66,296 | €36,978 | -€29,318 | -44.2% |
| Non-recurring operating income | 76A | €24,500 | €354,418 | +€329,918 | +1,347% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,925 | €21,336 | -€22,589 | -51.4% |
| Other operating charges | 640/8 | €6,384 | €4,692 | -€1,692 | -26.5% |
| Gross operating margin | 9900 | €7,772 | €324,501 | +€316,728 | +4,075% |
| Operating profit (loss) | 9901 | -€42,537 | €298,473 | +€341,009 | |
| Financial income | 75/76B | €5,150 | €6,699 | +€1,549 | +30.1% |
| Recurring financial income | 75 | €5,150 | €6,699 | +€1,549 | +30.1% |
| Financial charges | 65/66B | €125 | €1,239 | +€1,114 | +890% |
| Recurring financial charges | 65 | €125 | €1,239 | +€1,114 | +890% |
| Profit (loss) for the period before taxes | 9903 | -€37,511 | €303,933 | +€341,445 | |
| Transfer from deferred taxes | 780 | €34,234 | - | -€34,234 | |
| Income taxes | 67/77 | €19,596 | €96,903 | +€77,307 | +395% |
| Profit (loss) for the period | 9904 | -€22,873 | €207,030 | +€229,904 | |
| Transfer from tax-exempt reserves | 789 | €102,702 | - | -€102,702 | |
| Profit (loss) for the period to be appropriated | 9905 | €79,829 | €207,030 | +€127,202 | +159% |
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 24 October 2026 via checked.be.