MT PROJECTS: 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.
MT PROJECTS
Largest movements
- Tangible fixed assets +€489,067
up €489,067 (+84.4%), from €579,511 to €1.1m
of which Land and buildings: +€451,540
- Cash -€103,391
down €103,391 (-17.8%), from €582,430 to €479,039
mainly Investment in fixed assets (net) (-€583,922) and Contributions, distributions and other (-€429,412)
- Current investments +€46,000
new in 2025: €46,000
- Other debts +€511,928
up €511,928, from €0 to €511,928
- Profit (loss) carried forward -€106,724
down €106,724 (-15.3%), from €697,477 to €590,753
- Tax, wage and social debts +€68,249
up €68,249 (+368.6%), from €18,517 to €86,766
of which Taxes: +€68,249
- Debts after one year -€46,793
down €46,793 (-10.1%), from €463,384 to €416,591
- Accrued charges and deferred income -€41,120
down €41,120 (-97.5%), from €42,173 to €1,053
- Financial charges +€71,276
up €71,276 (+98.5%), from €72,381 to €143,657
- Depreciation +€63,919
up €63,919 (+206.6%), from €30,936 to €94,856
- Taxes -€29,906
down €29,906 (-21.9%), from €136,550 to €106,644
- Gross operating margin -€12,825
down €12,825 (-1.9%), from €686,006 to €673,180
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 | €1,281,865 | €1,703,772 | +€421,907 | +32.9% |
| Fixed assets | 21/28 | €579,511 | €1,068,578 | +€489,067 | +84.4% |
| Tangible fixed assets | 22/27 | €579,511 | €1,068,578 | +€489,067 | +84.4% |
| Land and buildings | 22 | €510,140 | €961,681 | +€451,540 | +88.5% |
| Furniture and vehicles | 24 | €69,371 | €106,898 | +€37,526 | +54.1% |
| Current assets | 29/58 | €702,354 | €635,194 | -€67,160 | -9.6% |
| Amounts receivable within one year | 40/41 | €111,648 | €105,426 | -€6,223 | -5.6% |
| Trade receivables | 40 | €101,076 | €104,976 | +€3,900 | +3.9% |
| Other amounts receivable | 41 | €10,572 | €450 | -€10,122 | -95.7% |
| Current investments | 50/53 | - | €46,000 | +€46,000 | |
| Cash at bank and in hand | 54/58 | €582,430 | €479,039 | -€103,391 | -17.8% |
| Deferred charges and accrued income | 490/1 | €8,276 | €4,730 | -€3,546 | -42.8% |
| Total equity and liabilities | 10/49 | €1,281,865 | €1,703,772 | +€421,907 | +32.9% |
| Equity | 10/15 | €702,477 | €595,753 | -€106,724 | -15.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €697,477 | €590,753 | -€106,724 | -15.3% |
| Amounts payable | 17/49 | €579,388 | €1,108,019 | +€528,631 | +91.2% |
| Amounts payable after more than one year | 17 | €463,384 | €416,591 | -€46,793 | -10.1% |
| Financial debts | 170/4 | €463,384 | €416,591 | -€46,793 | -10.1% |
| Amounts payable within one year | 42/48 | €73,831 | €690,375 | +€616,544 | +835.1% |
| Current portion of amounts payable after more than one year | 42 | €50,325 | €46,793 | -€3,532 | -7.0% |
| Trade debts | 44 | €4,989 | €44,889 | +€39,899 | +799.7% |
| Suppliers | 440/4 | €4,989 | €44,889 | +€39,899 | +799.7% |
| Taxes, remuneration and social security | 45 | €18,517 | €86,766 | +€68,249 | +368.6% |
| Taxes | 450/3 | €18,517 | €86,766 | +€68,249 | +368.6% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €0 | €511,928 | +€511,928 | |
| Accrued charges and deferred income | 492/3 | €42,173 | €1,053 | -€41,120 | -97.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,936 | €94,856 | +€63,919 | +206.6% |
| Other operating charges | 640/8 | €10,509 | €5,336 | -€5,173 | -49.2% |
| Gross operating margin | 9900 | €686,006 | €673,180 | -€12,825 | -1.9% |
| Operating profit (loss) | 9901 | €644,561 | €572,989 | -€71,572 | -11.1% |
| Financial income | 75/76B | €0 | €0 | +€0 | +100.0% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +100.0% |
| Financial charges | 65/66B | €72,381 | €143,657 | +€71,276 | +98.5% |
| Recurring financial charges | 65 | €72,381 | €143,657 | +€71,276 | +98.5% |
| Profit (loss) for the period before taxes | 9903 | €572,180 | €429,332 | -€142,848 | -25.0% |
| Income taxes | 67/77 | €136,550 | €106,644 | -€29,906 | -21.9% |
| Profit (loss) for the period | 9904 | €435,630 | €322,688 | -€112,942 | -25.9% |
| Profit (loss) for the period to be appropriated | 9905 | €435,630 | €322,688 | -€112,942 | -25.9% |
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.