MCTRUDO: 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.
MCTRUDO
Largest movements
- Tangible fixed assets -€160,752
down €160,752 (-28.2%), from €570,513 to €409,761
of which Plant, machinery and equipment: -€154,905
- Receivables within one year -€76,304
down €76,304 (-9.7%), from €788,607 to €712,303
of which Other amounts receivable: -€82,730
- Cash +€40,696
up €40,696 (+17.2%), from €236,834 to €277,530
mainly Depreciation (+€169,359) and Receivables within one year (+€76,304)
- Debts after one year -€149,682
down €149,682 (-41.5%), from €360,442 to €210,760
- Reserves -€47,441
down €47,441 (-14.8%), from €321,098 to €273,658
- Staff costs +€66,147
up €66,147 (+6.1%), from €1.1m to €1.1m
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 | €1,652,394 | €1,448,578 | -€203,816 | -12.3% |
| Fixed assets | 21/28 | €571,108 | €410,356 | -€160,752 | -28.1% |
| Tangible fixed assets | 22/27 | €570,513 | €409,761 | -€160,752 | -28.2% |
| Plant, machinery and equipment | 23 | €541,278 | €386,373 | -€154,905 | -28.6% |
| Furniture and vehicles | 24 | €29,235 | €23,388 | -€5,847 | -20.0% |
| Financial fixed assets | 28 | €595 | €595 | = | 0.0% |
| Current assets | 29/58 | €1,081,286 | €1,038,222 | -€43,064 | -4.0% |
| Stocks and contracts in progress | 3 | €23,554 | €21,712 | -€1,842 | -7.8% |
| Stocks | 30/36 | €23,554 | €21,712 | -€1,842 | -7.8% |
| Amounts receivable within one year | 40/41 | €788,607 | €712,303 | -€76,304 | -9.7% |
| Trade receivables | 40 | €20,378 | €26,803 | +€6,425 | +31.5% |
| Other amounts receivable | 41 | €768,229 | €685,499 | -€82,730 | -10.8% |
| Current investments | 50/53 | - | €94 | +€94 | |
| Cash at bank and in hand | 54/58 | €236,834 | €277,530 | +€40,696 | +17.2% |
| Deferred charges and accrued income | 490/1 | €32,292 | €26,583 | -€5,708 | -17.7% |
| Total equity and liabilities | 10/49 | €1,652,394 | €1,448,578 | -€203,816 | -12.3% |
| Equity | 10/15 | €656,098 | €608,658 | -€47,441 | -7.2% |
| Contributions | 10/11 | €335,000 | €335,000 | = | 0.0% |
| Reserves | 13 | €321,098 | €273,658 | -€47,441 | -14.8% |
| Distributable reserves | 133 | €321,098 | €273,658 | -€47,441 | -14.8% |
| Amounts payable | 17/49 | €996,296 | €839,920 | -€156,376 | -15.7% |
| Amounts payable after more than one year | 17 | €360,442 | €210,760 | -€149,682 | -41.5% |
| Financial debts | 170/4 | €360,442 | €210,760 | -€149,682 | -41.5% |
| Amounts payable within one year | 42/48 | €635,552 | €628,948 | -€6,604 | -1.0% |
| Current portion of amounts payable after more than one year | 42 | €148,431 | €149,682 | +€1,251 | +0.8% |
| Trade debts | 44 | €379,379 | €367,746 | -€11,633 | -3.1% |
| Suppliers | 440/4 | €379,379 | €367,746 | -€11,633 | -3.1% |
| Taxes, remuneration and social security | 45 | €107,603 | €111,263 | +€3,660 | +3.4% |
| Remuneration and social security | 454/9 | €107,603 | €111,263 | +€3,660 | +3.4% |
| Other amounts payable | 47/48 | €139 | €257 | +€118 | +85.4% |
| Accrued charges and deferred income | 492/3 | €302 | €212 | -€90 | -29.7% |
| Remuneration, social security and pensions | 62 | €1,083,223 | €1,149,370 | +€66,147 | +6.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €160,442 | €169,359 | +€8,917 | +5.6% |
| Other operating charges | 640/8 | €6,140 | €5,646 | -€493 | -8.0% |
| Gross operating margin | 9900 | €1,291,692 | €1,288,345 | -€3,347 | -0.3% |
| Operating profit (loss) | 9901 | €41,887 | -€36,031 | -€77,918 | |
| Financial income | 75/76B | €86 | €83 | -€3 | -2.9% |
| Recurring financial income | 75 | €86 | €83 | -€3 | -2.9% |
| Financial charges | 65/66B | €17,620 | €11,342 | -€6,278 | -35.6% |
| Recurring financial charges | 65 | €17,620 | €11,342 | -€6,278 | -35.6% |
| Profit (loss) for the period before taxes | 9903 | €24,353 | -€47,290 | -€71,643 | |
| Income taxes | 67/77 | €10,973 | €151 | -€10,822 | -98.6% |
| Profit (loss) for the period | 9904 | €13,380 | -€47,441 | -€60,820 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,380 | -€47,441 | -€60,820 |
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 2 October 2026 via checked.be.