MTD BELGIË: what changed
MTD BELGIË
Largest movements
- Stocks and contracts +€26,257
up €26,257 (+1,201%), from €2,186 to €28,443
- Receivables within one year -€20,094
down €20,094 (-5.9%), from €338,857 to €318,763
of which Trade receivables: -€31,427
- Cash -€16,167
down €16,167 (-56.4%), from €28,653 to €12,486
mainly Tax, wage and social debts (-€112,012) and Stocks and contracts (-€26,257)
- Tax, wage and social debts -€112,012
down €112,012 (-70.6%), from €158,692 to €46,680
of which Taxes: -€97,428
- Reserves +€83,477
up €83,477 (+43.0%), from €194,248 to €277,725
- Accrued charges and deferred income +€20,466
up €20,466 (+480%), from €4,268 to €24,734
- Gross operating margin -€74,429
down €74,429 (-36.2%), from €205,467 to €131,038
- Staff costs -€59,869
down €59,869 (-74.7%), from €80,152 to €20,283
- Other operating charges -€33,521
down €33,521 (-98.8%), from €33,921 to €400
- Write-downs +€31,400
no longer reported in 2025 (was -€31,400)
- Financial income -€19,033
down €19,033 (-71.1%), from €26,779 to €7,746
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €370,203 | €360,803 | -€9,400 | -2.5% |
| Fixed assets | 21/28 | €201 | €951 | +€750 | +373% |
| Financial fixed assets | 28 | €201 | €951 | +€750 | +373% |
| Current assets | 29/58 | €370,002 | €359,852 | -€10,150 | -2.7% |
| Stocks and contracts in progress | 3 | €2,186 | €28,443 | +€26,257 | +1,201% |
| Contracts in progress | 37 | €2,186 | €28,443 | +€26,257 | +1,201% |
| Amounts receivable within one year | 40/41 | €338,857 | €318,763 | -€20,094 | -5.9% |
| Trade receivables | 40 | €85,604 | €54,177 | -€31,427 | -36.7% |
| Other amounts receivable | 41 | €253,253 | €264,586 | +€11,333 | +4.5% |
| Cash at bank and in hand | 54/58 | €28,653 | €12,486 | -€16,167 | -56.4% |
| Deferred charges and accrued income | 490/1 | €306 | €160 | -€146 | -47.7% |
| Total equity and liabilities | 10/49 | €370,203 | €360,803 | -€9,400 | -2.5% |
| Equity | 10/15 | €200,448 | €283,925 | +€83,477 | +41.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €194,248 | €277,725 | +€83,477 | +43.0% |
| Distributable reserves | 133 | €194,248 | €277,725 | +€83,477 | +43.0% |
| Amounts payable | 17/49 | €169,755 | €76,878 | -€92,877 | -54.7% |
| Amounts payable within one year | 42/48 | €165,488 | €52,144 | -€113,343 | -68.5% |
| Trade debts | 44 | €6,796 | €5,465 | -€1,331 | -19.6% |
| Suppliers | 440/4 | €6,796 | €5,465 | -€1,331 | -19.6% |
| Taxes, remuneration and social security | 45 | €158,692 | €46,680 | -€112,012 | -70.6% |
| Taxes | 450/3 | €144,108 | €46,680 | -€97,428 | -67.6% |
| Remuneration and social security | 454/9 | €14,584 | - | -€14,584 | |
| Accrued charges and deferred income | 492/3 | €4,268 | €24,734 | +€20,466 | +480% |
| Remuneration, social security and pensions | 62 | €80,152 | €20,283 | -€59,869 | -74.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€31,400 | - | +€31,400 | |
| Other operating charges | 640/8 | €33,921 | €400 | -€33,521 | -98.8% |
| Gross operating margin | 9900 | €205,467 | €131,038 | -€74,429 | -36.2% |
| Operating profit (loss) | 9901 | €122,794 | €110,355 | -€12,439 | -10.1% |
| Financial income | 75/76B | €26,779 | €7,746 | -€19,033 | -71.1% |
| Recurring financial income | 75 | €26,779 | €7,746 | -€19,033 | -71.1% |
| Financial charges | 65/66B | €434 | €2,968 | +€2,534 | +584% |
| Recurring financial charges | 65 | €434 | €2,968 | +€2,534 | +584% |
| Profit (loss) for the period before taxes | 9903 | €149,139 | €115,133 | -€34,006 | -22.8% |
| Income taxes | 67/77 | €13,104 | €31,656 | +€18,552 | +142% |
| Profit (loss) for the period | 9904 | €136,035 | €83,477 | -€52,558 | -38.6% |
| Profit (loss) for the period to be appropriated | 9905 | €136,035 | €83,477 | -€52,558 | -38.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.