M.T.K.: 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.K.
Largest movements
- Receivables within one year -€12,412
down €12,412 (-32.0%), from €38,842 to €26,430
of which Other amounts receivable: -€13,038
- Cash -€7,159
down €7,159 (-4.7%), from €152,268 to €145,109
mainly Net result for the year (-€15,322) and Trade debts (-€9,904)
- Tangible fixed assets -€7,088
down €7,088 (-14.7%), from €48,245 to €41,156
- Stocks and contracts -€4,432
down €4,432 (-25.0%), from €17,750 to €13,318
- Profit (loss) carried forward -€15,322
down €15,322 (-11.8%), from €130,172 to €114,850
- Trade debts -€9,904
down €9,904 (-20.3%), from €48,698 to €38,794
- Gross operating margin -€31,512
down €31,512 (-5.9%), from €533,664 to €502,152
- Other operating charges -€28,797
down €28,797 (-96.3%), from €29,891 to €1,094
- Staff costs +€24,150
up €24,150 (+5.0%), from €478,287 to €502,437
- Taxes -€9,016
down €9,016 (-100%), from €9,016 to €0
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 | €260,250 | €231,223 | -€29,027 | -11.2% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €49,121 | €42,033 | -€7,088 | -14.4% |
| Tangible fixed assets | 22/27 | €48,245 | €41,156 | -€7,088 | -14.7% |
| Plant, machinery and equipment | 23 | €5,809 | €4,553 | -€1,256 | -21.6% |
| Furniture and vehicles | 24 | €10,492 | €9,206 | -€1,286 | -12.3% |
| Leasing and similar rights | 25 | €11,243 | €8,982 | -€2,261 | -20.1% |
| Other tangible fixed assets | 26 | €20,701 | €18,415 | -€2,286 | -11.0% |
| Financial fixed assets | 28 | €876 | €876 | = | 0.0% |
| Current assets | 29/58 | €211,129 | €189,191 | -€21,939 | -10.4% |
| Stocks and contracts in progress | 3 | €17,750 | €13,318 | -€4,432 | -25.0% |
| Stocks | 30/36 | €17,750 | €13,318 | -€4,432 | -25.0% |
| Amounts receivable within one year | 40/41 | €38,842 | €26,430 | -€12,412 | -32.0% |
| Trade receivables | 40 | €3,820 | €4,446 | +€626 | +16.4% |
| Other amounts receivable | 41 | €35,022 | €21,985 | -€13,038 | -37.2% |
| Cash at bank and in hand | 54/58 | €152,268 | €145,109 | -€7,159 | -4.7% |
| Deferred charges and accrued income | 490/1 | €2,269 | €4,333 | +€2,064 | +91.0% |
| Total equity and liabilities | 10/49 | €260,250 | €231,223 | -€29,027 | -11.2% |
| Equity | 10/15 | €160,782 | €145,460 | -€15,322 | -9.5% |
| Contributions | 10/11 | €11,860 | €11,860 | = | 0.0% |
| Reserves | 13 | €18,750 | €18,750 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | €130,172 | €114,850 | -€15,322 | -11.8% |
| Amounts payable | 17/49 | €99,468 | €85,763 | -€13,706 | -13.8% |
| Amounts payable within one year | 42/48 | €97,571 | €85,763 | -€11,809 | -12.1% |
| Trade debts | 44 | €48,698 | €38,794 | -€9,904 | -20.3% |
| Suppliers | 440/4 | €48,698 | €38,794 | -€9,904 | -20.3% |
| Taxes, remuneration and social security | 45 | €48,793 | €46,771 | -€2,022 | -4.1% |
| Taxes | 450/3 | €12,562 | €8,674 | -€3,888 | -31.0% |
| Remuneration and social security | 454/9 | €36,231 | €38,097 | +€1,866 | +5.2% |
| Other amounts payable | 47/48 | €80 | €197 | +€117 | +147% |
| Accrued charges and deferred income | 492/3 | €1,897 | - | -€1,897 | |
| Remuneration, social security and pensions | 62 | €478,287 | €502,437 | +€24,150 | +5.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,693 | €8,538 | -€1,154 | -11.9% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €3,545 | €1,927 | -€1,618 | -45.6% |
| Other operating charges | 640/8 | €29,891 | €1,094 | -€28,797 | -96.3% |
| Gross operating margin | 9900 | €533,664 | €502,152 | -€31,512 | -5.9% |
| Operating profit (loss) | 9901 | €12,249 | -€11,844 | -€24,093 | |
| Financial income | 75/76B | €48 | €64 | +€16 | +33.7% |
| Recurring financial income | 75 | €48 | €64 | +€16 | +33.7% |
| Financial charges | 65/66B | €715 | €3,542 | +€2,826 | +395% |
| Recurring financial charges | 65 | €715 | €3,542 | +€2,826 | +395% |
| Profit (loss) for the period before taxes | 9903 | €11,581 | -€15,322 | -€26,903 | |
| Income taxes | 67/77 | €9,016 | €0 | -€9,016 | -100% |
| Profit (loss) for the period | 9904 | €2,566 | -€15,322 | -€17,887 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,566 | -€15,322 | -€17,887 |
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.