MKTH: 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.
MKTH
Largest movements
- Tangible fixed assets +€18,202
up €18,202 (+191%), from €9,535 to €27,737
of which Other tangible fixed assets: +€23,227
- Receivables within one year +€8,859
up €8,859 (+87.7%), from €10,103 to €18,961
- Cash +€4,879
up €4,879 (+167%), from €2,926 to €7,805
mainly Debts within one year (+€33,299) and Depreciation (+€2,133)
- Debts within one year +€33,299
up €33,299 (+294%), from €11,341 to €44,640
of which Other debts: +€29,838
- Equity -€1,359
down €1,359 (-10.4%), from €13,023 to €11,664
of which Profit (loss) carried forward: -€1,359
- Gross operating margin +€10,925
up €10,925 (+89.9%), from -€12,157 to -€1,233
- Financial income +€2,563
new in 2021: €2,563
of which Non-recurring financial income: +€2,558
- Financial charges +€444
new in 2021: €444
- Depreciation +€408
up €408 (+23.6%), from €1,725 to €2,133
From the 2020 result to the 2021 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 2020 and 2021 balance sheets and the 2021 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2020 | 2021 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €24,364 | €56,304 | +€31,940 | +131% |
| Fixed assets | 21/28 | €11,335 | €29,537 | +€18,202 | +161% |
| Tangible fixed assets | 22/27 | €9,535 | €27,737 | +€18,202 | +191% |
| Plant, machinery and equipment | 23 | - | €4,510 | +€4,510 | |
| Other tangible fixed assets | 26 | - | €23,227 | +€23,227 | |
| Financial fixed assets | 28 | €1,800 | €1,800 | = | 0.0% |
| Current assets | 29/58 | €13,029 | €26,767 | +€13,738 | +105% |
| Amounts receivable within one year | 40/41 | €10,103 | €18,961 | +€8,859 | +87.7% |
| Trade receivables | 40 | - | €18,961 | +€18,961 | |
| Cash at bank and in hand | 54/58 | €2,926 | €7,805 | +€4,879 | +167% |
| Total equity and liabilities | 10/49 | €24,364 | €56,304 | +€31,940 | +131% |
| Equity | 10/15 | €13,023 | €11,664 | -€1,359 | -10.4% |
| Contributions | 10/11 | - | €18,600 | +€18,600 | |
| Profit (loss) carried forward | 14 | -€5,577 | -€6,936 | -€1,359 | -24.4% |
| Amounts payable | 17/49 | €11,341 | €44,640 | +€33,299 | +294% |
| Amounts payable within one year | 42/48 | €11,341 | €44,640 | +€33,299 | +294% |
| Current portion of amounts payable after more than one year | 42 | - | €1,078 | +€1,078 | |
| Trade debts | 44 | €8,919 | €10,937 | +€2,018 | +22.6% |
| Suppliers | 440/4 | - | €10,937 | +€10,937 | |
| Taxes, remuneration and social security | 45 | - | €2,787 | +€2,787 | |
| Taxes | 450/3 | - | €2,280 | +€2,280 | |
| Remuneration and social security | 454/9 | - | €508 | +€508 | |
| Other amounts payable | 47/48 | - | €29,838 | +€29,838 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,725 | €2,133 | +€408 | +23.6% |
| Other operating charges | 640/8 | - | €112 | +€112 | |
| Gross operating margin | 9900 | -€12,157 | -€1,233 | +€10,925 | +89.9% |
| Operating profit (loss) | 9901 | -€14,431 | -€3,477 | +€10,953 | +75.9% |
| Financial income | 75/76B | - | €2,563 | +€2,563 | |
| Recurring financial income | 75 | €0 | €5 | +€4 | +1,018% |
| Non-recurring financial income | 76B | - | €2,558 | +€2,558 | |
| Financial charges | 65/66B | - | €444 | +€444 | |
| Recurring financial charges | 65 | €275 | €444 | +€169 | +61.3% |
| Profit (loss) for the period before taxes | 9903 | -€3,946 | -€1,359 | +€2,587 | +65.6% |
| Profit (loss) for the period | 9904 | -€3,946 | -€1,359 | +€2,587 | +65.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,946 | -€1,359 | +€2,587 | +65.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2020 and 31 December 2021. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.