MDTM: 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.
MDTM
Largest movements
- Stocks and contracts +€43,855
up €43,855 (+5.5%), from €800,000 to €843,855
- Other debts +€87,500
up €87,500 (+14.0%), from €623,849 to €711,349
- Debts after one year -€41,507
down €41,507 (-33.8%), from €122,784 to €81,277
- Financial charges -€495
down €495 (-8.0%), from €6,222 to €5,727
- Gross operating margin +€413
up €413 (+47.3%), from -€872 to -€459
- Other operating charges +€11
up €11 (+3.1%), from €370 to €381
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 | €803,461 | €845,207 | +€41,745 | +5.2% |
| Current assets | 29/58 | €803,461 | €845,207 | +€41,745 | +5.2% |
| Stocks and contracts in progress | 3 | €800,000 | €843,855 | +€43,855 | +5.5% |
| Stocks | 30/36 | €800,000 | €843,855 | +€43,855 | +5.5% |
| Amounts receivable within one year | 40/41 | - | €403 | +€403 | |
| Other amounts receivable | 41 | - | €403 | +€403 | |
| Cash at bank and in hand | 54/58 | €3,461 | €948 | -€2,513 | -72.6% |
| Total equity and liabilities | 10/49 | €803,461 | €845,207 | +€41,745 | +5.2% |
| Equity | 10/15 | -€2,902 | -€9,469 | -€6,567 | -226% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€23,362 | -€29,929 | -€6,567 | -28.1% |
| Amounts payable | 17/49 | €806,363 | €854,676 | +€48,313 | +6.0% |
| Amounts payable after more than one year | 17 | €122,784 | €81,277 | -€41,507 | -33.8% |
| Financial debts | 170/4 | €122,784 | €81,277 | -€41,507 | -33.8% |
| Amounts payable within one year | 42/48 | €683,579 | €772,974 | +€89,395 | +13.1% |
| Current portion of amounts payable after more than one year | 42 | €40,903 | €41,507 | +€604 | +1.5% |
| Trade debts | 44 | €18,827 | €20,118 | +€1,291 | +6.9% |
| Suppliers | 440/4 | €18,827 | €20,118 | +€1,291 | +6.9% |
| Other amounts payable | 47/48 | €623,849 | €711,349 | +€87,500 | +14.0% |
| Accrued charges and deferred income | 492/3 | - | €425 | +€425 | |
| Other operating charges | 640/8 | €370 | €381 | +€11 | +3.1% |
| Gross operating margin | 9900 | -€872 | -€459 | +€413 | +47.3% |
| Operating profit (loss) | 9901 | -€1,242 | -€840 | +€401 | +32.3% |
| Financial charges | 65/66B | €6,222 | €5,727 | -€495 | -8.0% |
| Recurring financial charges | 65 | €6,222 | €5,727 | -€495 | -8.0% |
| Profit (loss) for the period before taxes | 9903 | -€7,464 | -€6,567 | +€897 | +12.0% |
| Profit (loss) for the period | 9904 | -€7,464 | -€6,567 | +€897 | +12.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,464 | -€6,567 | +€897 | +12.0% |
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 17 October 2026 via checked.be.