MTA LOC: 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.
MTA LOC
Largest movements
- Tangible fixed assets +€19,569
up €19,569 (+62.4%), from €31,368 to €50,936
of which Other tangible fixed assets: +€20,645
- Cash +€10,766
up €10,766 (+104.5%), from €10,298 to €21,064
mainly Net result for the year (+€29,112) and Depreciation (+€11,013)
- Receivables within one year -€5,347
down €5,347 (-5.1%), from €104,952 to €99,605
of which Trade receivables: -€25,699
- Profit (loss) carried forward +€29,112
up €29,112 (+48.1%), from €60,526 to €89,638
- Trade debts -€16,753
down €16,753 (-34.0%), from €49,308 to €32,555
- Accrued charges and deferred income +€9,600
new in 2025: €9,600
- Debts after one year -€3,834
down €3,834 (-23.9%), from €16,032 to €12,198
- Tax, wage and social debts +€2,772
up €2,772 (+495.7%), from €559 to €3,331
of which Remuneration and social security: +€1,500
- Depreciation +€5,495
up €5,495 (+99.6%), from €5,518 to €11,013
- Taxes +€3,350
up €3,350 (+61.4%), from €5,456 to €8,806
- Gross operating margin +€2,210
up €2,210 (+4.6%), from €48,180 to €50,390
- Financial income +€1,352
up €1,352 (+73.1%), from €1,850 to €3,202
- Financial charges +€802
up €802 (+226.0%), from €355 to €1,156
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 | €152,095 | €175,767 | +€23,672 | +15.6% |
| Fixed assets | 21/28 | €36,546 | €55,098 | +€18,552 | +50.8% |
| Intangible fixed assets | 21 | €2,878 | €1,862 | -€1,017 | -35.3% |
| Tangible fixed assets | 22/27 | €31,368 | €50,936 | +€19,569 | +62.4% |
| Plant, machinery and equipment | 23 | €10,733 | €12,848 | +€2,115 | +19.7% |
| Furniture and vehicles | 24 | €15,877 | €12,686 | -€3,191 | -20.1% |
| Other tangible fixed assets | 26 | €4,757 | €25,402 | +€20,645 | +434.0% |
| Financial fixed assets | 28 | €2,300 | €2,300 | = | 0.0% |
| Current assets | 29/58 | €115,548 | €120,669 | +€5,120 | +4.4% |
| Amounts receivable within one year | 40/41 | €104,952 | €99,605 | -€5,347 | -5.1% |
| Trade receivables | 40 | €56,042 | €30,344 | -€25,699 | -45.9% |
| Other amounts receivable | 41 | €48,910 | €69,261 | +€20,351 | +41.6% |
| Cash at bank and in hand | 54/58 | €10,298 | €21,064 | +€10,766 | +104.5% |
| Deferred charges and accrued income | 490/1 | €298 | - | -€298 | |
| Total equity and liabilities | 10/49 | €152,095 | €175,767 | +€23,672 | +15.6% |
| Equity | 10/15 | €66,526 | €95,638 | +€29,112 | +43.8% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €60,526 | €89,638 | +€29,112 | +48.1% |
| Amounts payable | 17/49 | €85,569 | €80,128 | -€5,440 | -6.4% |
| Amounts payable after more than one year | 17 | €16,032 | €12,198 | -€3,834 | -23.9% |
| Financial debts | 170/4 | €16,032 | €12,198 | -€3,834 | -23.9% |
| Amounts payable within one year | 42/48 | €69,536 | €58,330 | -€11,206 | -16.1% |
| Financial debts | 43 | €3,669 | €3,834 | +€165 | +4.5% |
| Credit institutions | 430/8 | €3,669 | €3,834 | +€165 | +4.5% |
| Trade debts | 44 | €49,308 | €32,555 | -€16,753 | -34.0% |
| Suppliers | 440/4 | €49,308 | €32,555 | -€16,753 | -34.0% |
| Taxes, remuneration and social security | 45 | €559 | €3,331 | +€2,772 | +495.7% |
| Taxes | 450/3 | €559 | €1,831 | +€1,272 | +227.5% |
| Remuneration and social security | 454/9 | - | €1,500 | +€1,500 | |
| Other amounts payable | 47/48 | €16,000 | €18,610 | +€2,610 | +16.3% |
| Accrued charges and deferred income | 492/3 | - | €9,600 | +€9,600 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,518 | €11,013 | +€5,495 | +99.6% |
| Other operating charges | 640/8 | €3,837 | €3,505 | -€332 | -8.7% |
| Non-recurring operating charges | 66A | €100 | - | -€100 | |
| Gross operating margin | 9900 | €48,180 | €50,390 | +€2,210 | +4.6% |
| Operating profit (loss) | 9901 | €38,726 | €35,873 | -€2,853 | -7.4% |
| Financial income | 75/76B | €1,850 | €3,202 | +€1,352 | +73.1% |
| Recurring financial income | 75 | €1,850 | €3,202 | +€1,352 | +73.1% |
| Financial charges | 65/66B | €355 | €1,156 | +€802 | +226.0% |
| Recurring financial charges | 65 | €355 | €1,156 | +€802 | +226.0% |
| Profit (loss) for the period before taxes | 9903 | €40,221 | €37,918 | -€2,303 | -5.7% |
| Income taxes | 67/77 | €5,456 | €8,806 | +€3,350 | +61.4% |
| Profit (loss) for the period | 9904 | €34,765 | €29,112 | -€5,653 | -16.3% |
| Profit (loss) for the period to be appropriated | 9905 | €34,765 | €29,112 | -€5,653 | -16.3% |
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 8 October 2026 via checked.be.