M.T.S.: 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.S.
Largest movements
- Cash +€130,928
up €130,928 (+169%), from €77,410 to €208,338
mainly Current investments (+€100,000) and Depreciation (+€22,321)
- Current investments -€100,000
no longer reported in 2025 (was €100,000)
- Tangible fixed assets -€20,242
down €20,242 (-32.1%), from €63,110 to €42,868
of which Furniture and vehicles: -€20,712
- Receivables within one year -€11,342
down €11,342 (-23.4%), from €48,396 to €37,053
of which Trade receivables: -€19,342
- Reserves +€15,646
up €15,646 (+54.9%), from €28,490 to €44,136
- Tax, wage and social debts -€12,745
down €12,745 (-98.7%), from €12,919 to €174
- Taxes -€32,755
down €32,755 (-79.3%), from €41,312 to €8,557
- Provisions +€29,148
no longer reported in 2025 (was -€29,148)
- Gross operating margin -€13,197
down €13,197 (-23.0%), from €57,314 to €44,117
- Depreciation +€9,922
up €9,922 (+80.0%), from €12,399 to €22,321
- Other operating charges -€6,024
down €6,024 (-86.7%), from €6,945 to €921
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 | €290,307 | €290,574 | +€268 | +0.1% |
| Fixed assets | 21/28 | €63,159 | €42,917 | -€20,242 | -32.0% |
| Tangible fixed assets | 22/27 | €63,110 | €42,868 | -€20,242 | -32.1% |
| Plant, machinery and equipment | 23 | - | €853 | +€853 | |
| Furniture and vehicles | 24 | €61,908 | €41,196 | -€20,712 | -33.5% |
| Other tangible fixed assets | 26 | €1,201 | €819 | -€382 | -31.8% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €227,148 | €247,657 | +€20,509 | +9.0% |
| Stocks and contracts in progress | 3 | €50 | €50 | = | 0.0% |
| Stocks | 30/36 | €50 | €50 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €48,396 | €37,053 | -€11,342 | -23.4% |
| Trade receivables | 40 | €28,533 | €9,191 | -€19,342 | -67.8% |
| Other amounts receivable | 41 | €19,862 | €27,862 | +€8,000 | +40.3% |
| Current investments | 50/53 | €100,000 | - | -€100,000 | |
| Cash at bank and in hand | 54/58 | €77,410 | €208,338 | +€130,928 | +169% |
| Deferred charges and accrued income | 490/1 | €1,292 | €2,215 | +€923 | +71.5% |
| Total equity and liabilities | 10/49 | €290,307 | €290,574 | +€268 | +0.1% |
| Equity | 10/15 | €247,120 | €261,106 | +€13,986 | +5.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €28,490 | €44,136 | +€15,646 | +54.9% |
| Distributable reserves | 133 | €28,490 | €44,136 | +€15,646 | +54.9% |
| Profit (loss) carried forward | 14 | €200,038 | €198,378 | -€1,660 | -0.8% |
| Amounts payable | 17/49 | €43,187 | €29,468 | -€13,719 | -31.8% |
| Amounts payable within one year | 42/48 | €43,187 | €29,468 | -€13,719 | -31.8% |
| Trade debts | 44 | €28,602 | €27,634 | -€968 | -3.4% |
| Suppliers | 440/4 | €28,602 | €27,634 | -€968 | -3.4% |
| Taxes, remuneration and social security | 45 | €12,919 | €174 | -€12,745 | -98.7% |
| Taxes | 450/3 | €12,919 | €174 | -€12,745 | -98.7% |
| Other amounts payable | 47/48 | €1,666 | €1,660 | -€6 | -0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,399 | €22,321 | +€9,922 | +80.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€29,148 | - | +€29,148 | |
| Other operating charges | 640/8 | €6,945 | €921 | -€6,024 | -86.7% |
| Gross operating margin | 9900 | €57,314 | €44,117 | -€13,197 | -23.0% |
| Operating profit (loss) | 9901 | €67,119 | €20,875 | -€46,244 | -68.9% |
| Financial income | 75/76B | €1,336 | €3,707 | +€2,371 | +177% |
| Recurring financial income | 75 | €1,336 | €3,707 | +€2,371 | +177% |
| Financial charges | 65/66B | €512 | €379 | -€133 | -26.0% |
| Recurring financial charges | 65 | €512 | €379 | -€133 | -26.0% |
| Profit (loss) for the period before taxes | 9903 | €67,942 | €24,203 | -€43,739 | -64.4% |
| Income taxes | 67/77 | €41,312 | €8,557 | -€32,755 | -79.3% |
| Profit (loss) for the period | 9904 | €26,630 | €15,646 | -€10,984 | -41.2% |
| Profit (loss) for the period to be appropriated | 9905 | €26,630 | €15,646 | -€10,984 | -41.2% |
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 27 October 2026 via checked.be.