MT SYSTEM: 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 SYSTEM
Largest movements
- Cash +€49,778
up €49,778 (+211%), from €23,571 to €73,349
mainly Net result for the year (+€68,227) and Tax, wage and social debts (+€8,623)
- Receivables within one year +€8,762
up €8,762 (+132%), from €6,654 to €15,416
of which Trade receivables: +€15,416
- Tangible fixed assets +€4,486
up €4,486 (+202%), from €2,223 to €6,709
of which Plant, machinery and equipment: +€2,401
- Reserves +€68,228
up €68,228 (+8,781%), from €777 to €69,005
- Trade debts -€9,462
down €9,462 (-72.2%), from €13,111 to €3,649
- Tax, wage and social debts +€8,623
new in 2025: €8,623
- Other debts -€4,284
down €4,284 (-22.9%), from €18,670 to €14,386
- Gross operating margin +€89,037
up €89,037 (+2,022%), from €4,404 to €93,441
- Taxes +€16,864
up €16,864 (+5,697%), from €296 to €17,160
- Staff costs +€2,887
up €2,887 (+329%), from €877 to €3,764
- Depreciation +€1,252
up €1,252 (+381%), from €329 to €1,581
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 | €35,558 | €98,663 | +€63,105 | +177% |
| Fixed assets | 21/28 | €2,333 | €6,819 | +€4,486 | +192% |
| Tangible fixed assets | 22/27 | €2,223 | €6,709 | +€4,486 | +202% |
| Plant, machinery and equipment | 23 | €2,223 | €4,624 | +€2,401 | +108% |
| Furniture and vehicles | 24 | - | €2,085 | +€2,085 | |
| Financial fixed assets | 28 | €110 | €110 | = | 0.0% |
| Current assets | 29/58 | €33,225 | €91,844 | +€58,619 | +176% |
| Stocks and contracts in progress | 3 | €3,000 | €3,000 | = | 0.0% |
| Stocks | 30/36 | €3,000 | €3,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €6,654 | €15,416 | +€8,762 | +132% |
| Trade receivables | 40 | - | €15,416 | +€15,416 | |
| Other amounts receivable | 41 | €6,654 | - | -€6,654 | |
| Cash at bank and in hand | 54/58 | €23,571 | €73,349 | +€49,778 | +211% |
| Deferred charges and accrued income | 490/1 | - | €79 | +€79 | |
| Total equity and liabilities | 10/49 | €35,558 | €98,663 | +€63,105 | +177% |
| Equity | 10/15 | €3,777 | €72,005 | +€68,228 | +1,806% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €777 | €69,005 | +€68,228 | +8,781% |
| Distributable reserves | 133 | €777 | €69,005 | +€68,228 | +8,781% |
| Amounts payable | 17/49 | €31,781 | €26,658 | -€5,123 | -16.1% |
| Amounts payable within one year | 42/48 | €31,781 | €26,658 | -€5,123 | -16.1% |
| Trade debts | 44 | €13,111 | €3,649 | -€9,462 | -72.2% |
| Suppliers | 440/4 | €13,111 | €3,649 | -€9,462 | -72.2% |
| Taxes, remuneration and social security | 45 | - | €8,623 | +€8,623 | |
| Taxes | 450/3 | - | €8,623 | +€8,623 | |
| Other amounts payable | 47/48 | €18,670 | €14,386 | -€4,284 | -22.9% |
| Remuneration, social security and pensions | 62 | €877 | €3,764 | +€2,887 | +329% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €329 | €1,581 | +€1,252 | +381% |
| Other operating charges | 640/8 | €149 | €70 | -€79 | -53.0% |
| Gross operating margin | 9900 | €4,404 | €93,441 | +€89,037 | +2,022% |
| Operating profit (loss) | 9901 | €3,049 | €88,026 | +€84,977 | +2,787% |
| Financial income | 75/76B | €7 | - | -€7 | |
| Recurring financial income | 75 | €7 | - | -€7 | |
| Financial charges | 65/66B | €1,983 | €2,639 | +€656 | +33.1% |
| Recurring financial charges | 65 | €1,983 | €2,639 | +€656 | +33.1% |
| Profit (loss) for the period before taxes | 9903 | €1,073 | €85,387 | +€84,314 | +7,858% |
| Income taxes | 67/77 | €296 | €17,160 | +€16,864 | +5,697% |
| Profit (loss) for the period | 9904 | €777 | €68,227 | +€67,450 | +8,681% |
| Profit (loss) for the period to be appropriated | 9905 | €777 | €68,227 | +€67,450 | +8,681% |
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 14 October 2026 via checked.be.