MRTNS: 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.
MRTNS
Largest movements
- Receivables after one year +€26,000
up €26,000 (+25.8%), from €100,650 to €126,650
- Tangible fixed assets -€16,926
down €16,926 (-13.2%), from €128,190 to €111,264
of which Land and buildings: -€12,615
- Cash -€10,890
down €10,890 (-48.4%), from €22,497 to €11,607
mainly Receivables after one year (-€26,000) and Other debts (-€10,805)
- Other debts -€10,805
down €10,805 (-59.6%), from €18,129 to €7,324
- Tax, wage and social debts +€4,648
up €4,648 (+19.0%), from €24,488 to €29,136
of which Taxes: +€4,648
- Reserves +€3,739
up €3,739 (+1.7%), from €219,537 to €223,277
- Gross operating margin -€10,998
down €10,998 (-29.1%), from €37,797 to €26,799
- Taxes -€2,194
down €2,194 (-32.5%), from €6,742 to €4,548
- Depreciation +€1,253
up €1,253 (+7.2%), from €17,455 to €18,709
- Financial income +€761
up €761 (+55.6%), from €1,368 to €2,128
- Other operating charges +€481
up €481 (+114.4%), from €420 to €902
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 | €281,383 | €279,516 | -€1,867 | -0.7% |
| Fixed assets | 21/28 | €128,190 | €111,264 | -€16,926 | -13.2% |
| Tangible fixed assets | 22/27 | €128,190 | €111,264 | -€16,926 | -13.2% |
| Land and buildings | 22 | €111,835 | €99,220 | -€12,615 | -11.3% |
| Plant, machinery and equipment | 23 | €5,104 | €3,758 | -€1,346 | -26.4% |
| Furniture and vehicles | 24 | €11,251 | €8,286 | -€2,965 | -26.4% |
| Current assets | 29/58 | €153,193 | €168,253 | +€15,060 | +9.8% |
| Amounts receivable after more than one year | 29 | €100,650 | €126,650 | +€26,000 | +25.8% |
| Other amounts receivable | 291 | €100,650 | €126,650 | +€26,000 | +25.8% |
| Amounts receivable within one year | 40/41 | €27,485 | €26,492 | -€993 | -3.6% |
| Trade receivables | 40 | €20,457 | €26,492 | +€6,035 | +29.5% |
| Other amounts receivable | 41 | €7,029 | €0 | -€7,029 | -100.0% |
| Cash at bank and in hand | 54/58 | €22,497 | €11,607 | -€10,890 | -48.4% |
| Deferred charges and accrued income | 490/1 | €2,561 | €3,504 | +€943 | +36.8% |
| Total equity and liabilities | 10/49 | €281,383 | €279,516 | -€1,867 | -0.7% |
| Equity | 10/15 | €232,041 | €235,780 | +€3,739 | +1.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €219,537 | €223,277 | +€3,739 | +1.7% |
| Distributable reserves | 133 | €219,537 | €223,277 | +€3,739 | +1.7% |
| Profit (loss) carried forward | 14 | €103 | €103 | = | 0.0% |
| Amounts payable | 17/49 | €49,342 | €43,736 | -€5,606 | -11.4% |
| Amounts payable within one year | 42/48 | €49,342 | €43,736 | -€5,606 | -11.4% |
| Trade debts | 44 | €6,725 | €7,276 | +€551 | +8.2% |
| Suppliers | 440/4 | €6,725 | €7,276 | +€551 | +8.2% |
| Taxes, remuneration and social security | 45 | €24,488 | €29,136 | +€4,648 | +19.0% |
| Taxes | 450/3 | €24,488 | €29,136 | +€4,648 | +19.0% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €18,129 | €7,324 | -€10,805 | -59.6% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,455 | €18,709 | +€1,253 | +7.2% |
| Other operating charges | 640/8 | €420 | €902 | +€481 | +114.4% |
| Gross operating margin | 9900 | €37,797 | €26,799 | -€10,998 | -29.1% |
| Operating profit (loss) | 9901 | €19,921 | €7,188 | -€12,732 | -63.9% |
| Financial income | 75/76B | €1,368 | €2,128 | +€761 | +55.6% |
| Recurring financial income | 75 | €1,368 | €2,128 | +€761 | +55.6% |
| Financial charges | 65/66B | €636 | €1,029 | +€393 | +61.8% |
| Recurring financial charges | 65 | €636 | €1,029 | +€393 | +61.8% |
| Profit (loss) for the period before taxes | 9903 | €20,653 | €8,288 | -€12,365 | -59.9% |
| Income taxes | 67/77 | €6,742 | €4,548 | -€2,194 | -32.5% |
| Profit (loss) for the period | 9904 | €13,910 | €3,739 | -€10,171 | -73.1% |
| Profit (loss) for the period to be appropriated | 9905 | €13,910 | €3,739 | -€10,171 | -73.1% |
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.