MT-Vet: 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-Vet
Largest movements
- Cash +€45,273
up €45,273 (+267.3%), from €16,938 to €62,211
mainly Net result for the year (+€49,666) and Trade debts (+€42,175)
- Receivables within one year +€26,323
up €26,323 (+23.4%), from €112,601 to €138,924
of which Trade receivables: +€57,959
- Stocks and contracts +€18,705
up €18,705, from €0 to €18,705
- Tangible fixed assets -€6,042
down €6,042 (-20.5%), from €29,461 to €23,420
of which Furniture and vehicles: -€4,400
- Reserves +€49,666
up €49,666 (+53.9%), from €92,213 to €141,879
- Trade debts +€42,175
up €42,175 (+1733.4%), from €2,433 to €44,608
- Provisions -€29,860
down €29,860 (-100.0%), from €29,860 to €0
- Tax, wage and social debts +€16,378
up €16,378 (+51.5%), from €31,790 to €48,168
of which Taxes: +€16,378
- Other debts +€8,667
up €8,667, from €0 to €8,667
- Provisions -€59,719
down €59,719, from €29,860 to -€29,860
- Financial charges +€32,566
up €32,566 (+4083.0%), from €798 to €33,363
- Gross operating margin +€31,065
up €31,065 (+51.3%), from €60,608 to €91,674
- Write-downs +€18,667
no longer reported in 2025 (was -€18,667)
- Other operating charges -€14,449
down €14,449 (-92.1%), from €15,691 to €1,242
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 | €160,942 | €245,407 | +€84,465 | +52.5% |
| Fixed assets | 21/28 | €30,281 | €24,140 | -€6,142 | -20.3% |
| Intangible fixed assets | 21 | €820 | €720 | -€100 | -12.2% |
| Tangible fixed assets | 22/27 | €29,461 | €23,420 | -€6,042 | -20.5% |
| Plant, machinery and equipment | 23 | €13,892 | €9,552 | -€4,340 | -31.2% |
| Furniture and vehicles | 24 | €11,741 | €7,342 | -€4,400 | -37.5% |
| Other tangible fixed assets | 26 | €3,828 | €6,526 | +€2,698 | +70.5% |
| Current assets | 29/58 | €130,661 | €221,267 | +€90,607 | +69.3% |
| Stocks and contracts in progress | 3 | €0 | €18,705 | +€18,705 | |
| Stocks | 30/36 | €0 | €18,705 | +€18,705 | |
| Amounts receivable within one year | 40/41 | €112,601 | €138,924 | +€26,323 | +23.4% |
| Trade receivables | 40 | €80,377 | €138,336 | +€57,959 | +72.1% |
| Other amounts receivable | 41 | €32,224 | €589 | -€31,636 | -98.2% |
| Cash at bank and in hand | 54/58 | €16,938 | €62,211 | +€45,273 | +267.3% |
| Deferred charges and accrued income | 490/1 | €1,122 | €1,428 | +€306 | +27.3% |
| Total equity and liabilities | 10/49 | €160,942 | €245,407 | +€84,465 | +52.5% |
| Equity | 10/15 | €94,213 | €143,879 | +€49,666 | +52.7% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €92,213 | €141,879 | +€49,666 | +53.9% |
| Distributable reserves | 133 | €92,213 | €141,879 | +€49,666 | +53.9% |
| Provisions and deferred taxes | 16 | €29,860 | €0 | -€29,860 | -100.0% |
| Provisions for liabilities and charges | 160/5 | €29,860 | €0 | -€29,860 | -100.0% |
| Other liabilities and charges | 164/5 | €29,860 | €0 | -€29,860 | -100.0% |
| Amounts payable | 17/49 | €36,869 | €101,528 | +€64,659 | +175.4% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €36,869 | €101,443 | +€64,574 | +175.1% |
| Current portion of amounts payable after more than one year | 42 | €2,646 | €0 | -€2,646 | -100.0% |
| Trade debts | 44 | €2,433 | €44,608 | +€42,175 | +1733.4% |
| Suppliers | 440/4 | €2,433 | €44,608 | +€42,175 | +1733.4% |
| Taxes, remuneration and social security | 45 | €31,790 | €48,168 | +€16,378 | +51.5% |
| Taxes | 450/3 | €31,790 | €48,168 | +€16,378 | +51.5% |
| Remuneration and social security | 454/9 | €0 | €0 | = | |
| Other amounts payable | 47/48 | €0 | €8,667 | +€8,667 | |
| Accrued charges and deferred income | 492/3 | - | €85 | +€85 | |
| Remuneration, social security and pensions | 62 | - | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,188 | €9,362 | -€827 | -8.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€18,667 | - | +€18,667 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €29,860 | -€29,860 | -€59,719 | |
| Other operating charges | 640/8 | €15,691 | €1,242 | -€14,449 | -92.1% |
| Gross operating margin | 9900 | €60,608 | €91,674 | +€31,065 | +51.3% |
| Operating profit (loss) | 9901 | €23,536 | €110,930 | +€87,394 | +371.3% |
| Financial income | 75/76B | €979 | €0 | -€979 | -100.0% |
| Recurring financial income | 75 | €979 | €0 | -€979 | -100.0% |
| Financial charges | 65/66B | €798 | €33,363 | +€32,566 | +4083.0% |
| Recurring financial charges | 65 | €798 | €33,363 | +€32,566 | +4083.0% |
| Profit (loss) for the period before taxes | 9903 | €23,718 | €77,567 | +€53,849 | +227.0% |
| Income taxes | 67/77 | €14,304 | €27,901 | +€13,597 | +95.1% |
| Profit (loss) for the period | 9904 | €9,414 | €49,666 | +€40,252 | +427.6% |
| Profit (loss) for the period to be appropriated | 9905 | €9,414 | €49,666 | +€40,252 | +427.6% |
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 12 October 2026 via checked.be.