MO.T.T.: 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.
MO.T.T.
Largest movements
- Stocks and contracts +€159,812
up €159,812 (+52.2%), from €306,325 to €466,137
- Cash -€58,411
down €58,411 (-47.8%), from €122,215 to €63,804
mainly Stocks and contracts (-€159,812) and Investment in fixed assets (net) (-€65,300)
- Intangible fixed assets +€47,518
up €47,518 (+50.3%), from €94,501 to €142,019
- Deferred charges and accrued income -€30,332
down €30,332 (-81.6%), from €37,165 to €6,833
- Receivables within one year +€24,343
up €24,343 (+25.9%), from €93,850 to €118,192
of which Trade receivables: +€37,707
- Profit (loss) carried forward +€94,642
no longer reported in 2025 (was -€94,642)
- Trade debts +€39,937
up €39,937 (+23.3%), from €171,497 to €211,434
- Tax, wage and social debts +€33,841
up €33,841 (+308%), from €10,974 to €44,815
of which Remuneration and social security: +€17,982
- Advances received -€15,017
down €15,017 (-99.6%), from €15,079 to €62
- Other debts -€11,537
down €11,537 (-13.0%), from €88,536 to €76,999
- Gross operating margin +€247,482
up €247,482 (+510%), from €48,485 to €295,967
- Staff costs +€147,616
up €147,616 (+35,902%), from €411 to €148,028
- Depreciation +€7,067
up €7,067 (+57.1%), from €12,369 to €19,436
- Financial charges +€5,261
up €5,261 (+21.4%), from €24,601 to €29,863
of which Non-recurring financial charges: +€3,194
- Financial income +€4,431
up €4,431 (+1,613%), from €275 to €4,706
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 | €671,443 | €812,719 | +€141,276 | +21.0% |
| Formation expenses | 20 | €948 | €663 | -€285 | -30.1% |
| Fixed assets | 21/28 | €110,940 | €157,089 | +€46,149 | +41.6% |
| Intangible fixed assets | 21 | €94,501 | €142,019 | +€47,518 | +50.3% |
| Tangible fixed assets | 22/27 | €5,975 | €4,306 | -€1,669 | -27.9% |
| Furniture and vehicles | 24 | €1,320 | €946 | -€375 | -28.4% |
| Other tangible fixed assets | 26 | €4,655 | €3,361 | -€1,294 | -27.8% |
| Financial fixed assets | 28 | €10,464 | €10,764 | +€300 | +2.9% |
| Current assets | 29/58 | €559,555 | €654,967 | +€95,412 | +17.1% |
| Stocks and contracts in progress | 3 | €306,325 | €466,137 | +€159,812 | +52.2% |
| Stocks | 30/36 | €306,325 | €466,137 | +€159,812 | +52.2% |
| Amounts receivable within one year | 40/41 | €93,850 | €118,192 | +€24,343 | +25.9% |
| Trade receivables | 40 | €78,363 | €116,070 | +€37,707 | +48.1% |
| Other amounts receivable | 41 | €15,486 | €2,122 | -€13,364 | -86.3% |
| Cash at bank and in hand | 54/58 | €122,215 | €63,804 | -€58,411 | -47.8% |
| Deferred charges and accrued income | 490/1 | €37,165 | €6,833 | -€30,332 | -81.6% |
| Total equity and liabilities | 10/49 | €671,443 | €812,719 | +€141,276 | +21.0% |
| Equity | 10/15 | €55,358 | €150,519 | +€95,161 | +172% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | - | €519 | +€519 | |
| Distributable reserves | 133 | - | €519 | +€519 | |
| Profit (loss) carried forward | 14 | -€94,642 | - | +€94,642 | |
| Amounts payable | 17/49 | €616,085 | €662,199 | +€46,114 | +7.5% |
| Amounts payable after more than one year | 17 | €44,846 | €34,286 | -€10,561 | -23.5% |
| Financial debts | 170/4 | €44,846 | €34,286 | -€10,561 | -23.5% |
| Amounts payable within one year | 42/48 | €571,239 | €618,870 | +€47,631 | +8.3% |
| Current portion of amounts payable after more than one year | 42 | €10,154 | €10,561 | +€407 | +4.0% |
| Financial debts | 43 | €275,000 | €275,000 | = | 0.0% |
| Credit institutions | 430/8 | €275,000 | €275,000 | = | 0.0% |
| Trade debts | 44 | €171,497 | €211,434 | +€39,937 | +23.3% |
| Suppliers | 440/4 | €171,497 | €211,434 | +€39,937 | +23.3% |
| Advances received on contracts in progress | 46 | €15,079 | €62 | -€15,017 | -99.6% |
| Taxes, remuneration and social security | 45 | €10,974 | €44,815 | +€33,841 | +308% |
| Taxes | 450/3 | €10,603 | €26,461 | +€15,859 | +150% |
| Remuneration and social security | 454/9 | €371 | €18,353 | +€17,982 | +4,845% |
| Other amounts payable | 47/48 | €88,536 | €76,999 | -€11,537 | -13.0% |
| Accrued charges and deferred income | 492/3 | - | €9,044 | +€9,044 | |
| Remuneration, social security and pensions | 62 | €411 | €148,028 | +€147,616 | +35,902% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,369 | €19,436 | +€7,067 | +57.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €4,151 | €4,151 | = | 0.0% |
| Other operating charges | 640/8 | €894 | €523 | -€371 | -41.5% |
| Gross operating margin | 9900 | €48,485 | €295,967 | +€247,482 | +510% |
| Operating profit (loss) | 9901 | €30,659 | €123,829 | +€93,170 | +304% |
| Financial income | 75/76B | €275 | €4,706 | +€4,431 | +1,613% |
| Recurring financial income | 75 | €275 | €4,706 | +€4,431 | +1,613% |
| Financial charges | 65/66B | €24,601 | €29,863 | +€5,261 | +21.4% |
| Recurring financial charges | 65 | €24,601 | €26,668 | +€2,067 | +8.4% |
| Non-recurring financial charges | 66B | - | €3,194 | +€3,194 | |
| Profit (loss) for the period before taxes | 9903 | €6,333 | €98,672 | +€92,340 | +1,458% |
| Income taxes | 67/77 | - | €3,511 | +€3,511 | |
| Profit (loss) for the period | 9904 | €6,333 | €95,161 | +€88,829 | +1,403% |
| Profit (loss) for the period to be appropriated | 9905 | €6,333 | €95,161 | +€88,829 | +1,403% |
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 15 October 2026 via checked.be.