MT PROJECTS: 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 PROJECTS
Largest movements
- Cash +€238,985
up €238,985 (+25,191%), from €949 to €239,934
mainly Short-term financial debts (+€390,000) and Current investments (+€219,740)
- Current investments -€219,740
down €219,740 (-100%), from €219,740 to €0
- Stocks and contracts -€66,761
down €66,761 (-6.7%), from €990,363 to €923,602
- Receivables within one year +€15,360
up €15,360 (+10.0%), from €153,146 to €168,506
of which Other amounts receivable: +€37,463
- Current portion of long-term debt -€447,000
down €447,000 (-100%), from €447,000 to €0
- Short-term financial debts +€390,000
new in 2025: €390,000
- Trade debts +€35,951
up €35,951 (+18.4%), from €195,341 to €231,292
- Gross operating margin -€99,684
down €99,684 (-61.6%), from €161,775 to €62,091
- Taxes -€26,777
down €26,777 (-90.0%), from €29,736 to €2,960
- Financial charges -€7,814
down €7,814 (-13.6%), from €57,641 to €49,826
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.
Derived cash bridge
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 | €1,369,374 | €1,336,364 | -€33,009 | -2.4% |
| Fixed assets | 21/28 | €4,052 | €3,123 | -€929 | -22.9% |
| Tangible fixed assets | 22/27 | €4,052 | €3,123 | -€929 | -22.9% |
| Land and buildings | 22 | €3,195 | €2,662 | -€532 | -16.7% |
| Furniture and vehicles | 24 | €858 | €461 | -€397 | -46.3% |
| Current assets | 29/58 | €1,365,321 | €1,333,241 | -€32,080 | -2.3% |
| Stocks and contracts in progress | 3 | €990,363 | €923,602 | -€66,761 | -6.7% |
| Stocks | 30/36 | €990,363 | €923,602 | -€66,761 | -6.7% |
| Amounts receivable within one year | 40/41 | €153,146 | €168,506 | +€15,360 | +10.0% |
| Trade receivables | 40 | €87,179 | €65,077 | -€22,102 | -25.4% |
| Other amounts receivable | 41 | €65,967 | €103,429 | +€37,463 | +56.8% |
| Current investments | 50/53 | €219,740 | €0 | -€219,740 | -100% |
| Cash at bank and in hand | 54/58 | €949 | €239,934 | +€238,985 | +25,191% |
| Deferred charges and accrued income | 490/1 | €1,124 | €1,199 | +€74 | +6.6% |
| Total equity and liabilities | 10/49 | €1,369,374 | €1,336,364 | -€33,009 | -2.4% |
| Equity | 10/15 | €549,498 | €555,457 | +€5,959 | +1.1% |
| Contributions | 10/11 | €80,400 | €80,400 | = | 0.0% |
| Reserves | 13 | €437,401 | €437,401 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,401 | €7,401 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7,401 | €7,401 | = | 0.0% |
| Distributable reserves | 133 | €430,000 | €430,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €31,697 | €37,656 | +€5,959 | +18.8% |
| Amounts payable | 17/49 | €819,876 | €780,907 | -€38,969 | -4.8% |
| Amounts payable within one year | 42/48 | €810,838 | €773,261 | -€37,578 | -4.6% |
| Current portion of amounts payable after more than one year | 42 | €447,000 | €0 | -€447,000 | -100% |
| Financial debts | 43 | - | €390,000 | +€390,000 | |
| Credit institutions | 430/8 | - | €390,000 | +€390,000 | |
| Trade debts | 44 | €195,341 | €231,292 | +€35,951 | +18.4% |
| Suppliers | 440/4 | €195,341 | €231,292 | +€35,951 | +18.4% |
| Taxes, remuneration and social security | 45 | €55,986 | €45,681 | -€10,305 | -18.4% |
| Taxes | 450/3 | €55,986 | €43,131 | -€12,855 | -23.0% |
| Remuneration and social security | 454/9 | - | €2,550 | +€2,550 | |
| Other amounts payable | 47/48 | €112,511 | €106,287 | -€6,224 | -5.5% |
| Accrued charges and deferred income | 492/3 | €9,038 | €7,646 | -€1,391 | -15.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €929 | €929 | = | 0.0% |
| Other operating charges | 640/8 | €2,813 | €2,416 | -€397 | -14.1% |
| Gross operating margin | 9900 | €161,775 | €62,091 | -€99,684 | -61.6% |
| Operating profit (loss) | 9901 | €158,032 | €58,745 | -€99,287 | -62.8% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €57,641 | €49,826 | -€7,814 | -13.6% |
| Recurring financial charges | 65 | €57,641 | €49,826 | -€7,814 | -13.6% |
| Profit (loss) for the period before taxes | 9903 | €100,392 | €8,919 | -€91,473 | -91.1% |
| Income taxes | 67/77 | €29,736 | €2,960 | -€26,777 | -90.0% |
| Profit (loss) for the period | 9904 | €70,656 | €5,959 | -€64,696 | -91.6% |
| Profit (loss) for the period to be appropriated | 9905 | €70,656 | €5,959 | -€64,696 | -91.6% |
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 17 October 2026 via checked.be.