M.T.T.L: what changed
What changed
M.T.T.L
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€21,313
2024 · €49,154-€27,841
Equity
€1.3m
2024 · €1.2m+€14,113
Cash
€246,985
2024 · €216,703+€30,282
Balance sheet total
€3.2m
2024 · €3.2m-€51,592
Largest movements
Assets
- Tangible fixed assets -€52,692
down €52,692 (-1.9%), from €2.8m to €2.8m
of which Land and buildings: -€79,099
Equity and liabilities
- Debts after one year -€120,000
down €120,000 (-13.3%), from €900,000 to €780,000
- Other debts +€38,158
up €38,158 (+4.3%), from €882,713 to €920,872
Income statement
- Gross operating margin -€31,872
down €31,872 (-12.2%), from €260,354 to €228,481
- Taxes -€10,074
down €10,074 (-58.6%), from €17,201 to €7,127
- Financial income +€7,561
up €7,561 (+47.7%), from €15,836 to €23,397
- Depreciation +€6,478
up €6,478 (+5.4%), from €120,596 to €127,074
- Financial charges +€4,026
up €4,026 (+5.6%), from €72,070 to €76,096
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.
Result 2024
€49,154
Gross operating margin
-€31,872
Depreciation
-€6,478
Other operating charges
-€3,100
Financial income
+€7,561
Financial charges
-€4,026
Taxes
+€10,074
Result 2025
€21,313
raises the resultlowers the result
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.
From operations
+€223,843
Investment
-€66,361
Financing
-€127,200
Cash 2024
€216,703
From operations (derived)
+€223,843
Net result for the year
+€21,313
Depreciation
+€127,074
Receivables within one year
+€25,174
Deferred charges and accrued income
-€4,014
Trade debts
-€6,880
Tax, wage and social debts
+€21,406
Other debts
+€38,158
Accrued charges and deferred income
+€1,611
Investment (derived)
-€66,361
Investment in fixed assets (net)
-€66,361
Financing
-€127,200
Debts after one year
-€120,000
Contributions, distributions and other
-€7,200
Cash 2025
€246,985
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,225,230 | €3,173,638 | -€51,592 | -1.6% |
| Fixed assets | 21/28 | €2,853,095 | €2,792,383 | -€60,713 | -2.1% |
| Tangible fixed assets | 22/27 | €2,844,215 | €2,791,523 | -€52,692 | -1.9% |
| Land and buildings | 22 | €2,521,640 | €2,442,540 | -€79,099 | -3.1% |
| Plant, machinery and equipment | 23 | €322,152 | €326,246 | +€4,095 | +1.3% |
| Furniture and vehicles | 24 | €423 | €24 | -€399 | -94.3% |
| Assets under construction and advance payments | 27 | - | €22,712 | +€22,712 | |
| Financial fixed assets | 28 | €8,881 | €860 | -€8,021 | -90.3% |
| Current assets | 29/58 | €372,134 | €381,255 | +€9,121 | +2.5% |
| Amounts receivable within one year | 40/41 | €152,064 | €126,890 | -€25,174 | -16.6% |
| Trade receivables | 40 | €135,806 | €95,000 | -€40,806 | -30.0% |
| Other amounts receivable | 41 | €16,258 | €31,890 | +€15,631 | +96.1% |
| Cash at bank and in hand | 54/58 | €216,703 | €246,985 | +€30,282 | +14.0% |
| Deferred charges and accrued income | 490/1 | €3,368 | €7,381 | +€4,014 | +119% |
| Total equity and liabilities | 10/49 | €3,225,230 | €3,173,638 | -€51,592 | -1.6% |
| Equity | 10/15 | €1,235,999 | €1,250,112 | +€14,113 | +1.1% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €908,116 | €929,430 | +€21,313 | +2.3% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €51,336 | €51,336 | = | 0.0% |
| Distributable reserves | 133 | €856,781 | €878,094 | +€21,313 | +2.5% |
| Investment grants | 15 | €77,883 | €70,682 | -€7,200 | -9.2% |
| Amounts payable | 17/49 | €1,989,230 | €1,923,526 | -€65,704 | -3.3% |
| Amounts payable after more than one year | 17 | €900,000 | €780,000 | -€120,000 | -13.3% |
| Financial debts | 170/4 | €900,000 | €780,000 | -€120,000 | -13.3% |
| Amounts payable within one year | 42/48 | €1,079,316 | €1,132,001 | +€52,685 | +4.9% |
| Current portion of amounts payable after more than one year | 42 | €120,000 | €120,000 | = | 0.0% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €24,720 | €17,841 | -€6,880 | -27.8% |
| Suppliers | 440/4 | €24,720 | €17,841 | -€6,880 | -27.8% |
| Taxes, remuneration and social security | 45 | €51,883 | €73,289 | +€21,406 | +41.3% |
| Taxes | 450/3 | €21,988 | €43,394 | +€21,406 | +97.4% |
| Remuneration and social security | 454/9 | €29,895 | €29,895 | = | 0.0% |
| Other amounts payable | 47/48 | €882,713 | €920,872 | +€38,158 | +4.3% |
| Accrued charges and deferred income | 492/3 | €9,914 | €11,525 | +€1,611 | +16.2% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €120,596 | €127,074 | +€6,478 | +5.4% |
| Other operating charges | 640/8 | €17,169 | €20,269 | +€3,100 | +18.1% |
| Gross operating margin | 9900 | €260,354 | €228,481 | -€31,872 | -12.2% |
| Operating profit (loss) | 9901 | €122,588 | €81,139 | -€41,450 | -33.8% |
| Financial income | 75/76B | €15,836 | €23,397 | +€7,561 | +47.7% |
| Recurring financial income | 75 | €15,836 | €23,397 | +€7,561 | +47.7% |
| Financial charges | 65/66B | €72,070 | €76,096 | +€4,026 | +5.6% |
| Recurring financial charges | 65 | €72,070 | €76,096 | +€4,026 | +5.6% |
| Profit (loss) for the period before taxes | 9903 | €66,355 | €28,440 | -€37,915 | -57.1% |
| Income taxes | 67/77 | €17,201 | €7,127 | -€10,074 | -58.6% |
| Profit (loss) for the period | 9904 | €49,154 | €21,313 | -€27,841 | -56.6% |
| Profit (loss) for the period to be appropriated | 9905 | €49,154 | €21,313 | -€27,841 | -56.6% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.