M-tech: 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-tech
Largest movements
- Receivables within one year +€13,183
up €13,183 (+35.2%), from €37,405 to €50,588
of which Trade receivables: +€12,979
- Tangible fixed assets -€9,102
down €9,102 (-7.7%), from €118,494 to €109,392
- Cash +€7,162
up €7,162 (+98.2%), from €7,293 to €14,455
mainly Depreciation (+€17,034) and Net result for the year (+€11,853)
- Deferred charges and accrued income -€1,907
down €1,907 (-15.7%), from €12,117 to €10,210
- Profit (loss) carried forward +€11,853
up €11,853 (+20.6%), from €57,580 to €69,433
- Trade debts -€8,636
down €8,636 (-58.2%), from €14,836 to €6,199
- Other debts +€6,231
up €6,231 (+52.4%), from €11,889 to €18,119
- Debts after one year -€5,704
down €5,704 (-7.9%), from €72,233 to €66,529
- Tax, wage and social debts +€4,674
up €4,674 (+56.1%), from €8,331 to €13,005
of which Taxes: +€4,374
- Gross operating margin -€11,603
down €11,603 (-22.2%), from €52,253 to €40,650
- Taxes -€3,058
down €3,058 (-41.2%), from €7,429 to €4,371
- Depreciation +€2,637
up €2,637 (+18.3%), from €14,396 to €17,034
- Other operating charges +€732
up €732 (+37.2%), from €1,969 to €2,701
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.
Cash bridge derived
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 | €175,444 | €184,780 | +€9,336 | +5.3% |
| Fixed assets | 21/28 | €118,629 | €109,527 | -€9,102 | -7.7% |
| Tangible fixed assets | 22/27 | €118,494 | €109,392 | -€9,102 | -7.7% |
| Land and buildings | 22 | €89,033 | €84,935 | -€4,098 | -4.6% |
| Plant, machinery and equipment | 23 | €16,813 | €12,417 | -€4,396 | -26.1% |
| Furniture and vehicles | 24 | €12,648 | €12,041 | -€608 | -4.8% |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €56,815 | €75,253 | +€18,438 | +32.5% |
| Amounts receivable within one year | 40/41 | €37,405 | €50,588 | +€13,183 | +35.2% |
| Trade receivables | 40 | €28,979 | €41,958 | +€12,979 | +44.8% |
| Other amounts receivable | 41 | €8,426 | €8,630 | +€204 | +2.4% |
| Cash at bank and in hand | 54/58 | €7,293 | €14,455 | +€7,162 | +98.2% |
| Deferred charges and accrued income | 490/1 | €12,117 | €10,210 | -€1,907 | -15.7% |
| Total equity and liabilities | 10/49 | €175,444 | €184,780 | +€9,336 | +5.3% |
| Equity | 10/15 | €62,580 | €74,433 | +€11,853 | +18.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €57,580 | €69,433 | +€11,853 | +20.6% |
| Amounts payable | 17/49 | €112,865 | €110,347 | -€2,518 | -2.2% |
| Amounts payable after more than one year | 17 | €72,233 | €66,529 | -€5,704 | -7.9% |
| Financial debts | 170/4 | €72,233 | €66,529 | -€5,704 | -7.9% |
| Amounts payable within one year | 42/48 | €40,632 | €43,818 | +€3,187 | +7.8% |
| Current portion of amounts payable after more than one year | 42 | €5,577 | €5,704 | +€127 | +2.3% |
| Financial debts | 43 | €0 | €791 | +€791 | |
| Credit institutions | 430/8 | €0 | €791 | +€791 | |
| Trade debts | 44 | €14,836 | €6,199 | -€8,636 | -58.2% |
| Suppliers | 440/4 | €14,836 | €6,199 | -€8,636 | -58.2% |
| Taxes, remuneration and social security | 45 | €8,331 | €13,005 | +€4,674 | +56.1% |
| Taxes | 450/3 | €6,731 | €11,105 | +€4,374 | +65.0% |
| Remuneration and social security | 454/9 | €1,600 | €1,900 | +€300 | +18.8% |
| Other amounts payable | 47/48 | €11,889 | €18,119 | +€6,231 | +52.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,396 | €17,034 | +€2,637 | +18.3% |
| Other operating charges | 640/8 | €1,969 | €2,701 | +€732 | +37.2% |
| Gross operating margin | 9900 | €52,253 | €40,650 | -€11,603 | -22.2% |
| Operating profit (loss) | 9901 | €35,888 | €20,915 | -€14,972 | -41.7% |
| Financial income | 75/76B | €1 | €0 | -€0 | -67.9% |
| Recurring financial income | 75 | €1 | €0 | -€0 | -67.9% |
| Financial charges | 65/66B | €4,303 | €4,691 | +€388 | +9.0% |
| Recurring financial charges | 65 | €4,303 | €4,691 | +€388 | +9.0% |
| Profit (loss) for the period before taxes | 9903 | €31,585 | €16,224 | -€15,361 | -48.6% |
| Income taxes | 67/77 | €7,429 | €4,371 | -€3,058 | -41.2% |
| Profit (loss) for the period | 9904 | €24,156 | €11,853 | -€12,302 | -50.9% |
| Profit (loss) for the period to be appropriated | 9905 | €24,156 | €11,853 | -€12,302 | -50.9% |
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 11 October 2026 via checked.be.