MT GEST: 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.
MT GEST
Largest movements
- Tangible fixed assets -€17,151
down €17,151 (-4.7%), from €364,693 to €347,542
of which Land and buildings: -€12,456
- Cash +€9,038
up €9,038 (+49.8%), from €18,156 to €27,194
mainly Net result for the year (+€155,614) and Depreciation (+€20,258)
- Debts after one year -€19,107
down €19,107 (-6.0%), from €317,500 to €298,393
- Profit (loss) carried forward +€11,614
up €11,614 (+31.6%), from €36,720 to €48,334
- Financial income +€13,500
up €13,500 (+10.3%), from €130,500 to €144,000
- Gross operating margin -€1,864
down €1,864 (-4.1%), from €45,297 to €43,433
- Taxes -€580
down €580 (-11.5%), from €5,032 to €4,452
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 | €395,348 | €388,193 | -€7,155 | -1.8% |
| Fixed assets | 21/28 | €375,943 | €358,792 | -€17,151 | -4.6% |
| Tangible fixed assets | 22/27 | €364,693 | €347,542 | -€17,151 | -4.7% |
| Land and buildings | 22 | €346,423 | €333,966 | -€12,456 | -3.6% |
| Furniture and vehicles | 24 | €18,270 | €13,576 | -€4,694 | -25.7% |
| Financial fixed assets | 28 | €11,250 | €11,250 | = | 0.0% |
| Current assets | 29/58 | €19,405 | €29,400 | +€9,995 | +51.5% |
| Amounts receivable within one year | 40/41 | €697 | €1,627 | +€930 | +133.3% |
| Other amounts receivable | 41 | €697 | €1,627 | +€930 | +133.3% |
| Cash at bank and in hand | 54/58 | €18,156 | €27,194 | +€9,038 | +49.8% |
| Deferred charges and accrued income | 490/1 | €552 | €580 | +€28 | +5.0% |
| Total equity and liabilities | 10/49 | €395,348 | €388,193 | -€7,155 | -1.8% |
| Equity | 10/15 | €57,180 | €68,794 | +€11,614 | +20.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €36,720 | €48,334 | +€11,614 | +31.6% |
| Amounts payable | 17/49 | €338,168 | €319,398 | -€18,770 | -5.6% |
| Amounts payable after more than one year | 17 | €317,500 | €298,393 | -€19,107 | -6.0% |
| Financial debts | 170/4 | €317,500 | €298,393 | -€19,107 | -6.0% |
| Amounts payable within one year | 42/48 | €20,668 | €21,005 | +€337 | +1.6% |
| Current portion of amounts payable after more than one year | 42 | €18,798 | €19,107 | +€309 | +1.6% |
| Trade debts | 44 | €705 | - | -€705 | |
| Suppliers | 440/4 | €705 | - | -€705 | |
| Other amounts payable | 47/48 | €1,165 | €1,898 | +€734 | +63.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,088 | €20,258 | +€170 | +0.8% |
| Other operating charges | 640/8 | €246 | €186 | -€59 | -24.2% |
| Gross operating margin | 9900 | €45,297 | €43,433 | -€1,864 | -4.1% |
| Operating profit (loss) | 9901 | €24,964 | €22,989 | -€1,974 | -7.9% |
| Financial income | 75/76B | €130,500 | €144,000 | +€13,500 | +10.3% |
| Recurring financial income | 75 | €130,500 | €144,000 | +€13,500 | +10.3% |
| Financial charges | 65/66B | €7,357 | €6,924 | -€434 | -5.9% |
| Recurring financial charges | 65 | €7,357 | €6,924 | -€434 | -5.9% |
| Profit (loss) for the period before taxes | 9903 | €148,107 | €160,066 | +€11,959 | +8.1% |
| Income taxes | 67/77 | €5,032 | €4,452 | -€580 | -11.5% |
| Profit (loss) for the period | 9904 | €143,075 | €155,614 | +€12,540 | +8.8% |
| Profit (loss) for the period to be appropriated | 9905 | €143,075 | €155,614 | +€12,540 | +8.8% |
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 10 October 2026 via checked.be.