MTE: 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.
What changed
MTE
fiscal year 2021 against 2022filed annual accounts (NBB)
Net result for the year
-€264,024
2021 · -€1,467-€262,557
Equity
€241,249
2021 · €505,273-€264,024
Cash
€1,080
2021 · €21,186-€20,106
Balance sheet total
€3.2m
2021 · €3.3m-€72,384
Largest movements
Assets
- Tangible fixed assets -€52,315
down €52,315 (-1.6%), from €3.3m to €3.2m
of which Land and buildings: -€48,938
Equity and liabilities
- Profit (loss) carried forward -€264,024
down €264,024, from €105,702 to -€158,322
- Other debts +€233,070
up €233,070 (+12.2%), from €1.9m to €2.1m
- Debts after one year -€59,520
down €59,520 (-7.3%), from €814,086 to €754,566
Income statement
- Gross operating margin -€259,790
down €259,790, from €257,244 to -€2,547
- Financial charges +€4,038
up €4,038 (+11.8%), from €34,366 to €38,405
From the 2021 result to the 2022 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.
Result 2021
-€1,467
Gross operating margin
-€259,790
Depreciation
+€790
Other operating charges
-€47
Financial income
-€30
Financial charges
-€4,038
Taxes
+€558
Result 2022
-€264,024
Cash bridge derived
Derived from the 2021 and 2022 balance sheets and the 2022 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€200,949
Investment
-€168,662
Financing
-€52,393
Cash 2021
€21,186
From operations (derived)
+€200,949
Net result for the year
-€264,024
Depreciation
+€220,977
Smaller working-capital items
-€596
Trade debts
+€11,522
Other debts
+€233,070
Investment (derived)
-€168,662
Investment in fixed assets (net)
-€168,662
Financing
-€52,393
Debts after one year
-€59,520
Current portion of long-term debt
-€4,164
Short-term financial debts
+€11,290
Cash 2022
€1,080
Every line side by side
| Line | Code | 2021 | 2022 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,299,053 | €3,226,670 | -€72,384 | -2.2% |
| Fixed assets | 21/28 | €3,277,868 | €3,225,552 | -€52,315 | -1.6% |
| Tangible fixed assets | 22/27 | €3,277,868 | €3,225,552 | -€52,315 | -1.6% |
| Land and buildings | 22 | €3,251,579 | €3,202,641 | -€48,938 | -1.5% |
| Plant, machinery and equipment | 23 | €2,776 | €1,874 | -€902 | -32.5% |
| Furniture and vehicles | 24 | €23,512 | €21,037 | -€2,476 | -10.5% |
| Current assets | 29/58 | €21,186 | €1,117 | -€20,068 | -94.7% |
| Cash at bank and in hand | 54/58 | €21,186 | €1,080 | -€20,106 | -94.9% |
| Deferred charges and accrued income | 490/1 | - | €38 | +€38 | |
| Total equity and liabilities | 10/49 | €3,299,053 | €3,226,670 | -€72,384 | -2.2% |
| Equity | 10/15 | €505,273 | €241,249 | -€264,024 | -52.3% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Revaluation surpluses | 12 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €238,071 | €238,071 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €231,921 | €231,921 | = | 0.0% |
| Profit (loss) carried forward | 14 | €105,702 | -€158,322 | -€264,024 | |
| Amounts payable | 17/49 | €2,793,780 | €2,985,421 | +€191,641 | +6.9% |
| Amounts payable after more than one year | 17 | €814,086 | €754,566 | -€59,520 | -7.3% |
| Financial debts | 170/4 | €814,086 | €754,566 | -€59,520 | -7.3% |
| Amounts payable within one year | 42/48 | €1,979,694 | €2,230,855 | +€251,161 | +12.7% |
| Current portion of amounts payable after more than one year | 42 | €58,753 | €54,589 | -€4,164 | -7.1% |
| Financial debts | 43 | - | €11,290 | +€11,290 | |
| Credit institutions | 430/8 | - | €11,290 | +€11,290 | |
| Trade debts | 44 | €4,752 | €16,274 | +€11,522 | +242.5% |
| Suppliers | 440/4 | €4,752 | €16,274 | +€11,522 | +242.5% |
| Taxes, remuneration and social security | 45 | €558 | - | -€558 | |
| Taxes | 450/3 | €558 | - | -€558 | |
| Other amounts payable | 47/48 | €1,915,631 | €2,148,701 | +€233,070 | +12.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €221,767 | €220,977 | -€790 | -0.4% |
| Other operating charges | 640/8 | €2,049 | €2,096 | +€47 | +2.3% |
| Gross operating margin | 9900 | €257,244 | -€2,547 | -€259,790 | |
| Operating profit (loss) | 9901 | €33,427 | -€225,620 | -€259,047 | |
| Financial income | 75/76B | €30 | - | -€30 | |
| Recurring financial income | 75 | €30 | - | -€30 | |
| Financial charges | 65/66B | €34,366 | €38,405 | +€4,038 | +11.8% |
| Recurring financial charges | 65 | €34,366 | €38,405 | +€4,038 | +11.8% |
| Profit (loss) for the period before taxes | 9903 | -€909 | -€264,024 | -€263,115 | -28940.8% |
| Income taxes | 67/77 | €558 | - | -€558 | |
| Profit (loss) for the period | 9904 | -€1,467 | -€264,024 | -€262,557 | -17895.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,467 | -€264,024 | -€262,557 | -17895.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2021 and 31 December 2022. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.