MBTA: what changed
Two fiscal 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.
MBTA
Largest movements
- Tangible fixed assets -€3,494
down €3,494 (-3.7%), from €93,521 to €90,027
- Cash -€1,826
down €1,826 (-67.1%), from €2,719 to €894
mainly Debts after one year (-€3,175) and Net result for the year (-€2,040)
- Debts after one year -€3,175
down €3,175 (-12.9%), from €24,528 to €21,354
- Profit (loss) carried forward -€2,040
down €2,040 (-1.5%), from -€138,660 to -€140,700
- Depreciation -€8,171
down €8,171 (-70.0%), from €11,665 to €3,494
- Gross operating margin -€5,619
down €5,619 (-50.5%), from €11,116 to €5,497
- Taxes +€1,480
up €1,480 (+589.6%), from €251 to €1,731
- Other operating charges +€155
up €155 (+8.1%), from €1,923 to €2,078
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 | €98,042 | €92,836 | -€5,206 | -5.3% |
| Fixed assets | 21/28 | €93,521 | €90,027 | -€3,494 | -3.7% |
| Tangible fixed assets | 22/27 | €93,521 | €90,027 | -€3,494 | -3.7% |
| Land and buildings | 22 | €93,521 | €90,027 | -€3,494 | -3.7% |
| Current assets | 29/58 | €4,522 | €2,809 | -€1,713 | -37.9% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Trade receivables | 40 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €2,719 | €894 | -€1,826 | -67.1% |
| Deferred charges and accrued income | 490/1 | €1,802 | €1,915 | +€113 | +6.3% |
| Total equity and liabilities | 10/49 | €98,042 | €92,836 | -€5,206 | -5.3% |
| Equity | 10/15 | €73,383 | €71,342 | -€2,040 | -2.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €193,442 | €193,442 | = | 0.0% |
| Distributable reserves | 133 | €193,442 | €193,442 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€138,660 | -€140,700 | -€2,040 | -1.5% |
| Amounts payable | 17/49 | €24,659 | €21,493 | -€3,166 | -12.8% |
| Amounts payable after more than one year | 17 | €24,528 | €21,354 | -€3,175 | -12.9% |
| Other amounts payable | 178/9 | €24,528 | €21,354 | -€3,175 | -12.9% |
| Amounts payable within one year | 42/48 | €0 | - | = | |
| Trade debts | 44 | €0 | - | = | |
| Suppliers | 440/4 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €131 | €140 | +€9 | +6.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,665 | €3,494 | -€8,171 | -70.0% |
| Other operating charges | 640/8 | €1,923 | €2,078 | +€155 | +8.1% |
| Gross operating margin | 9900 | €11,116 | €5,497 | -€5,619 | -50.5% |
| Operating profit (loss) | 9901 | -€2,472 | -€75 | +€2,397 | +97.0% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €205 | €234 | +€29 | +14.3% |
| Recurring financial charges | 65 | €205 | €234 | +€29 | +14.3% |
| Profit (loss) for the period before taxes | 9903 | -€2,678 | -€309 | +€2,368 | +88.4% |
| Income taxes | 67/77 | €251 | €1,731 | +€1,480 | +589.6% |
| Profit (loss) for the period | 9904 | -€2,929 | -€2,040 | +€888 | +30.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,929 | -€2,040 | +€888 | +30.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.