MT: 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.
What changed
MT
NACE 70.200, Business and other management consultancy
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€15,737
2024 · -€22,247+€37,984
Equity
€3.8m
2024 · €3.8m+€15,737
Cash
€263,224
2024 · €349,283-€86,059
Balance sheet total
€7.1m
2024 · €7.5m-€418,293
Largest movements
Assets
- Financial fixed assets +€497,704
up €497,704 (+23.7%), from €2.1m to €2.6m
- Tangible fixed assets -€399,493
down €399,493 (-9.3%), from €4.3m to €3.9m
of which Land and buildings: -€382,507
- Receivables within one year -€310,174
down €310,174 (-81.2%), from €382,033 to €71,859
of which Other amounts receivable: -€310,427
- Cash -€86,059
down €86,059 (-24.6%), from €349,283 to €263,224
mainly Debts after one year (-€426,437) and Investment in fixed assets (net) (-€383,330)
- Intangible fixed assets -€77,607
down €77,607 (-25.0%), from €310,427 to €232,821
Equity and liabilities
- Debts after one year -€426,437
down €426,437 (-13.4%), from €3.2m to €2.8m
of which Financial debts: -€422,507
Income statement
- Turnover +€622,603
new in 2025: €622,603
- Gross operating margin -€558,661
no longer reported in 2025 (was €558,661)
- Services and other goods +€97,652
new in 2025: €97,652
- Taxes +€23,406
up €23,406 (+59.5%), from €39,338 to €62,744
of which Taxes: +€62,744
- Depreciation -€14,950
down €14,950 (-4.0%), from €377,676 to €362,726
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.
Result 2024
-€22,247
Turnover
+€622,603
Other operating income
+€1,992
Services and other goods
-€97,652
Depreciation
+€14,950
Other operating charges
-€1,897
Other operating items
-€486,071
Financial income
-€7,358
Financial charges
+€14,822
Taxes
-€23,406
Result 2025
€15,737
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.
From operations
+€717,031
Investment
-€383,330
Financing
-€419,760
Cash 2024
€349,283
From operations (derived)
+€717,031
Net result for the year
+€15,737
Depreciation
+€362,726
Receivables within one year
+€310,174
Deferred charges and accrued income
+€42,664
Trade debts
-€3,000
Tax, wage and social debts
-€6,283
Other debts
+€99
Accrued charges and deferred income
-€5,085
Investment (derived)
-€383,330
Investment in fixed assets (net)
-€383,330
Financing
-€419,760
Debts after one year
-€426,437
Current portion of long-term debt
+€6,676
Cash 2025
€263,224
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,493,163 | €7,074,870 | -€418,293 | -5.6% |
| Fixed assets | 21/28 | €6,684,038 | €6,704,642 | +€20,604 | +0.3% |
| Intangible fixed assets | 21 | €310,427 | €232,821 | -€77,607 | -25.0% |
| Tangible fixed assets | 22/27 | €4,277,649 | €3,878,156 | -€399,493 | -9.3% |
| Land and buildings | 22 | €3,906,072 | €3,523,565 | -€382,507 | -9.8% |
| Plant, machinery and equipment | 23 | €364,945 | €301,666 | -€63,278 | -17.3% |
| Furniture and vehicles | 24 | €6,632 | €52,924 | +€46,292 | +698.0% |
| Financial fixed assets | 28 | €2,095,962 | €2,593,666 | +€497,704 | +23.7% |
| Affiliated companies | 280/1 | - | €2,593,666 | +€2.6m | |
| Participating interests | 280 | - | €2,593,666 | +€2.6m | |
| Current assets | 29/58 | €809,124 | €370,228 | -€438,897 | -54.2% |
| Stocks and contracts in progress | 3 | - | €0 | = | |
| Amounts receivable within one year | 40/41 | €382,033 | €71,859 | -€310,174 | -81.2% |
| Trade receivables | 40 | €682 | €935 | +€253 | +37.0% |
| Other amounts receivable | 41 | €381,351 | €70,924 | -€310,427 | -81.4% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €349,283 | €263,224 | -€86,059 | -24.6% |
| Deferred charges and accrued income | 490/1 | €77,808 | €35,144 | -€42,664 | -54.8% |
| Total equity and liabilities | 10/49 | €7,493,163 | €7,074,870 | -€418,293 | -5.6% |
| Equity | 10/15 | €3,751,895 | €3,767,631 | +€15,737 | +0.4% |
| Contributions | 10/11 | €402,315 | €402,315 | = | 0.0% |
| Capital | 10 | €402,315 | €402,315 | = | 0.0% |
| Issued capital | 100 | €402,315 | €402,315 | = | 0.0% |
| Reserves | 13 | €199,049 | €199,049 | = | 0.0% |
| Non-distributable reserves | 130/1 | €40,231 | €40,231 | = | 0.0% |
| Legal reserve | 130 | €40,231 | €40,231 | = | 0.0% |
| Tax-exempt reserves | 132 | €158,817 | €158,817 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,150,531 | €3,166,268 | +€15,737 | +0.5% |
| Provisions and deferred taxes | 16 | €52,939 | €52,939 | = | 0.0% |
| Deferred taxes | 168 | €52,939 | €52,939 | = | 0.0% |
| Amounts payable | 17/49 | €3,688,329 | €3,254,299 | -€434,030 | -11.8% |
| Amounts payable after more than one year | 17 | €3,184,384 | €2,757,947 | -€426,437 | -13.4% |
| Financial debts | 170/4 | €2,441,414 | €2,018,908 | -€422,507 | -17.3% |
| Credit institutions | 173 | - | €2,018,908 | +€2.0m | |
| Other amounts payable | 178/9 | €742,969 | €739,039 | -€3,930 | -0.5% |
| Amounts payable within one year | 42/48 | €495,331 | €492,823 | -€2,508 | -0.5% |
| Current portion of amounts payable after more than one year | 42 | €467,801 | €474,478 | +€6,676 | +1.4% |
| Trade debts | 44 | €5,545 | €2,545 | -€3,000 | -54.1% |
| Suppliers | 440/4 | €5,545 | €2,545 | -€3,000 | -54.1% |
| Taxes, remuneration and social security | 45 | €21,985 | €15,702 | -€6,283 | -28.6% |
| Taxes | 450/3 | €21,985 | €15,702 | -€6,283 | -28.6% |
| Other amounts payable | 47/48 | - | €99 | +€99 | |
| Accrued charges and deferred income | 492/3 | €8,615 | €3,529 | -€5,085 | -59.0% |
| Operating income | 70/76A | - | €685,221 | +€685,221 | |
| Turnover | 70 | - | €622,603 | +€622,603 | |
| Other operating income | 74 | - | €1,992 | +€1,992 | |
| Non-recurring operating income | 76A | €0 | €60,626 | +€60,626 | |
| Operating charges | 60/66A | - | €496,921 | +€496,921 | |
| Services and other goods | 61 | - | €97,652 | +€97,652 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €377,676 | €362,726 | -€14,950 | -4.0% |
| Other operating charges | 640/8 | €34,646 | €36,543 | +€1,897 | +5.5% |
| Non-recurring operating charges | 66A | €11,964 | €0 | -€11,964 | -100.0% |
| Gross operating margin | 9900 | €558,661 | - | -€558,661 | |
| Operating profit (loss) | 9901 | €134,375 | €188,300 | +€53,925 | +40.1% |
| Financial income | 75/76B | €10,877 | €3,520 | -€7,358 | -67.6% |
| Recurring financial income | 75 | €10,877 | €3,520 | -€7,358 | -67.6% |
| Income from current assets | 751 | - | €3,520 | +€3,520 | |
| Financial charges | 65/66B | €128,161 | €113,339 | -€14,822 | -11.6% |
| Recurring financial charges | 65 | €128,161 | €113,339 | -€14,822 | -11.6% |
| Debt charges | 650 | - | €112,116 | +€112,116 | |
| Other financial charges | 652/9 | - | €1,223 | +€1,223 | |
| Profit (loss) for the period before taxes | 9903 | €17,091 | €78,481 | +€61,390 | +359.2% |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €39,338 | €62,744 | +€23,406 | +59.5% |
| Taxes | 670/3 | - | €62,744 | +€62,744 | |
| Tax adjustments and reversals of tax provisions | 77 | - | €0 | = | |
| Profit (loss) for the period | 9904 | -€22,247 | €15,737 | +€37,984 | |
| Profit (loss) for the period to be appropriated | 9905 | -€22,247 | €15,737 | +€37,984 |
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 6 October 2026 via checked.be.