M.T.D. SUNSET: what changed
M.T.D. SUNSET
Largest movements
- Tangible fixed assets -€4,385
down €4,385 (-5.0%), from €87,379 to €82,994
of which Land and buildings: -€4,711
- Cash +€4,059
up €4,059 (+1.4%), from €293,970 to €298,029
mainly Depreciation (+€7,666) and Net result for the year (+€4,434)
- Trade debts -€4,021
down €4,021 (-78.1%), from €5,147 to €1,126
- Reserves +€4,000
up €4,000 (+1.5%), from €265,860 to €269,860
of which Distributable reserves: +€4,000
- Financial income -€103,624
down €103,624 (-95.9%), from €108,084 to €4,460
of which Non-recurring financial income: -€106,460
- Gross operating margin +€18,570
up €18,570, from -€5,160 to €13,410
- Provisions +€9,621
no longer reported in 2025 (was -€9,621)
- Taxes -€8,301
down €8,301 (-77.5%), from €10,717 to €2,416
- Other operating charges -€1,341
down €1,341 (-28.8%), from €4,651 to €3,310
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €387,326 | €386,774 | -€552 | -0.1% |
| Fixed assets | 21/28 | €87,379 | €82,994 | -€4,385 | -5.0% |
| Tangible fixed assets | 22/27 | €87,379 | €82,994 | -€4,385 | -5.0% |
| Land and buildings | 22 | €85,696 | €80,985 | -€4,711 | -5.5% |
| Plant, machinery and equipment | 23 | €1,186 | €786 | -€400 | -33.7% |
| Furniture and vehicles | 24 | €497 | €1,223 | +€726 | +146% |
| Current assets | 29/58 | €299,947 | €303,780 | +€3,833 | +1.3% |
| Amounts receivable within one year | 40/41 | €5,977 | €5,213 | -€764 | -12.8% |
| Trade receivables | 40 | €826 | €816 | -€10 | -1.2% |
| Other amounts receivable | 41 | €5,151 | €4,397 | -€754 | -14.6% |
| Cash at bank and in hand | 54/58 | €293,970 | €298,029 | +€4,059 | +1.4% |
| Deferred charges and accrued income | 490/1 | - | €538 | +€538 | |
| Total equity and liabilities | 10/49 | €387,326 | €386,774 | -€552 | -0.1% |
| Equity | 10/15 | €370,423 | €374,857 | +€4,434 | +1.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €265,860 | €269,860 | +€4,000 | +1.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €264,000 | €268,000 | +€4,000 | +1.5% |
| Profit (loss) carried forward | 14 | €85,963 | €86,397 | +€434 | +0.5% |
| Amounts payable | 17/49 | €16,903 | €11,917 | -€4,986 | -29.5% |
| Amounts payable within one year | 42/48 | €16,903 | €11,917 | -€4,986 | -29.5% |
| Trade debts | 44 | €5,147 | €1,126 | -€4,021 | -78.1% |
| Suppliers | 440/4 | €5,147 | €1,126 | -€4,021 | -78.1% |
| Advances received on contracts in progress | 46 | €1,000 | - | -€1,000 | |
| Taxes, remuneration and social security | 45 | €10,756 | €10,791 | +€35 | +0.3% |
| Taxes | 450/3 | €10,756 | €10,791 | +€35 | +0.3% |
| Non-recurring operating income | 76A | €826 | - | -€826 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,362 | €7,666 | +€304 | +4.1% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€9,621 | - | +€9,621 | |
| Other operating charges | 640/8 | €4,651 | €3,310 | -€1,341 | -28.8% |
| Gross operating margin | 9900 | -€5,160 | €13,410 | +€18,570 | |
| Operating profit (loss) | 9901 | -€7,552 | €2,434 | +€9,986 | |
| Financial income | 75/76B | €108,084 | €4,460 | -€103,624 | -95.9% |
| Recurring financial income | 75 | €1,624 | €4,460 | +€2,836 | +175% |
| Non-recurring financial income | 76B | €106,460 | - | -€106,460 | |
| Financial charges | 65/66B | €312 | €44 | -€268 | -85.9% |
| Recurring financial charges | 65 | €312 | €44 | -€268 | -85.9% |
| Profit (loss) for the period before taxes | 9903 | €100,220 | €6,850 | -€93,370 | -93.2% |
| Transfer from deferred taxes | 780 | €2,100 | - | -€2,100 | |
| Income taxes | 67/77 | €10,717 | €2,416 | -€8,301 | -77.5% |
| Profit (loss) for the period | 9904 | €91,603 | €4,434 | -€87,169 | -95.2% |
| Transfer from tax-exempt reserves | 789 | €8,400 | - | -€8,400 | |
| Profit (loss) for the period to be appropriated | 9905 | €100,003 | €4,434 | -€95,569 | -95.6% |
Next steps
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 6 November 2026 via checked.be.