MT & M: 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 & M
Largest movements
- Receivables after one year -€21,500
down €21,500 (-35.0%), from €61,500 to €40,000
- Cash +€19,100
up €19,100 (+404.2%), from €4,725 to €23,825
mainly Receivables after one year (+€21,500) and Depreciation (+€13,739)
- Receivables within one year +€12,761
up €12,761 (+100.3%), from €12,720 to €25,481
of which Other amounts receivable: +€8,365
- Tangible fixed assets +€8,202
up €8,202 (+19.6%), from €41,878 to €50,080
of which Plant, machinery and equipment: +€16,424
- Debts after one year -€18,210
down €18,210 (-4.3%), from €426,370 to €408,160
- Trade debts +€12,241
up €12,241 (+155.5%), from €7,873 to €20,114
- Reserves +€11,078
up €11,078 (+169.3%), from €6,544 to €17,622
- Gross operating margin +€14,086
up €14,086 (+63.3%), from €22,265 to €36,351
- Depreciation +€7,314
up €7,314 (+113.8%), from €6,425 to €13,739
- Taxes +€2,434
up €2,434 (+129.8%), from €1,875 to €4,309
- Other operating charges +€1,179
up €1,179 (+498.9%), from €236 to €1,415
- Financial charges -€725
down €725 (-22.9%), from €3,163 to €2,439
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 | €510,266 | €528,013 | +€17,748 | +3.5% |
| Fixed assets | 21/28 | €429,637 | €436,602 | +€6,965 | +1.6% |
| Intangible fixed assets | 21 | €2,759 | €1,522 | -€1,237 | -44.8% |
| Tangible fixed assets | 22/27 | €41,878 | €50,080 | +€8,202 | +19.6% |
| Plant, machinery and equipment | 23 | €12,940 | €29,364 | +€16,424 | +126.9% |
| Furniture and vehicles | 24 | €17,193 | €10,801 | -€6,393 | -37.2% |
| Other tangible fixed assets | 26 | €11,745 | €9,916 | -€1,829 | -15.6% |
| Financial fixed assets | 28 | €385,000 | €385,000 | = | 0.0% |
| Current assets | 29/58 | €80,629 | €91,411 | +€10,783 | +13.4% |
| Amounts receivable after more than one year | 29 | €61,500 | €40,000 | -€21,500 | -35.0% |
| Other amounts receivable | 291 | €61,500 | €40,000 | -€21,500 | -35.0% |
| Stocks and contracts in progress | 3 | €0 | €475 | +€475 | |
| Stocks | 30/36 | €0 | €475 | +€475 | |
| Amounts receivable within one year | 40/41 | €12,720 | €25,481 | +€12,761 | +100.3% |
| Trade receivables | 40 | €475 | €4,871 | +€4,396 | +925.6% |
| Other amounts receivable | 41 | €12,245 | €20,610 | +€8,365 | +68.3% |
| Cash at bank and in hand | 54/58 | €4,725 | €23,825 | +€19,100 | +404.2% |
| Deferred charges and accrued income | 490/1 | €1,683 | €1,630 | -€53 | -3.2% |
| Total equity and liabilities | 10/49 | €510,266 | €528,013 | +€17,748 | +3.5% |
| Equity | 10/15 | €11,544 | €22,622 | +€11,078 | +96.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €6,544 | €17,622 | +€11,078 | +169.3% |
| Distributable reserves | 133 | €6,544 | €17,622 | +€11,078 | +169.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €498,722 | €505,392 | +€6,670 | +1.3% |
| Amounts payable after more than one year | 17 | €426,370 | €408,160 | -€18,210 | -4.3% |
| Financial debts | 170/4 | €426,370 | €408,160 | -€18,210 | -4.3% |
| Amounts payable within one year | 42/48 | €72,349 | €94,361 | +€22,012 | +30.4% |
| Current portion of amounts payable after more than one year | 42 | €9,433 | €13,302 | +€3,869 | +41.0% |
| Trade debts | 44 | €7,873 | €20,114 | +€12,241 | +155.5% |
| Suppliers | 440/4 | €7,873 | €20,114 | +€12,241 | +155.5% |
| Taxes, remuneration and social security | 45 | €9,021 | €10,518 | +€1,497 | +16.6% |
| Taxes | 450/3 | €9,021 | €8,123 | -€898 | -10.0% |
| Remuneration and social security | 454/9 | - | €2,395 | +€2,395 | |
| Other amounts payable | 47/48 | €46,022 | €50,427 | +€4,405 | +9.6% |
| Accrued charges and deferred income | 492/3 | €3 | €2,871 | +€2,868 | +91921.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,425 | €13,739 | +€7,314 | +113.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,026 | €1,426 | +€401 | +39.1% |
| Other operating charges | 640/8 | €236 | €1,415 | +€1,179 | +498.9% |
| Gross operating margin | 9900 | €22,265 | €36,351 | +€14,086 | +63.3% |
| Operating profit (loss) | 9901 | €14,578 | €19,771 | +€5,193 | +35.6% |
| Financial income | 75/76B | €7 | €0 | -€7 | -99.6% |
| Recurring financial income | 75 | €7 | €0 | -€7 | -99.6% |
| Financial charges | 65/66B | €3,163 | €2,439 | -€725 | -22.9% |
| Recurring financial charges | 65 | €3,163 | €2,439 | -€725 | -22.9% |
| Profit (loss) for the period before taxes | 9903 | €11,422 | €17,332 | +€5,910 | +51.7% |
| Income taxes | 67/77 | €1,875 | €4,309 | +€2,434 | +129.8% |
| Profit (loss) for the period | 9904 | €9,547 | €13,023 | +€3,476 | +36.4% |
| Profit (loss) for the period to be appropriated | 9905 | €9,547 | €13,023 | +€3,476 | +36.4% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.