MTEA: 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.
MTEA
Largest movements
- Intangible fixed assets +€66,885
up €66,885 (+404%), from €16,539 to €83,425
- Tangible fixed assets -€44,231
down €44,231 (-15.2%), from €290,711 to €246,480
of which Leasing and similar rights: -€27,941
- Cash +€30,538
up €30,538 (+26.5%), from €115,165 to €145,702
mainly Depreciation (+€60,222) and Accrued charges and deferred income (+€60,000)
- Receivables within one year -€20,111
down €20,111 (-14.1%), from €142,209 to €122,097
of which Trade receivables: -€32,649
- Accrued charges and deferred income +€60,000
up €60,000 (+12,245%), from €490 to €60,490
- Other debts -€28,658
down €28,658 (-95.1%), from €30,128 to €1,470
- Debts after one year +€21,746
up €21,746 (+10.5%), from €206,558 to €228,304
- Trade debts -€18,046
down €18,046 (-24.3%), from €74,304 to €56,258
- Current portion of long-term debt +€16,286
up €16,286 (+35.1%), from €46,420 to €62,706
- Gross operating margin -€24,703
down €24,703 (-12.4%), from €199,909 to €175,205
- Depreciation +€11,016
up €11,016 (+22.4%), from €49,206 to €60,222
- Staff costs +€9,928
up €9,928 (+12.0%), from €82,884 to €92,812
- Taxes -€6,467
down €6,467 (-67.4%), from €9,600 to €3,132
- Other operating charges -€5,105
down €5,105 (-49.1%), from €10,387 to €5,282
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 | €564,998 | €598,064 | +€33,066 | +5.9% |
| Fixed assets | 21/28 | €307,251 | €329,905 | +€22,655 | +7.4% |
| Intangible fixed assets | 21 | €16,539 | €83,425 | +€66,885 | +404% |
| Tangible fixed assets | 22/27 | €290,711 | €246,480 | -€44,231 | -15.2% |
| Land and buildings | 22 | €176,551 | €166,924 | -€9,627 | -5.5% |
| Plant, machinery and equipment | 23 | €355 | €281 | -€74 | -20.9% |
| Furniture and vehicles | 24 | €12,353 | €5,765 | -€6,588 | -53.3% |
| Leasing and similar rights | 25 | €101,452 | €73,511 | -€27,941 | -27.5% |
| Current assets | 29/58 | €257,747 | €268,159 | +€10,412 | +4.0% |
| Amounts receivable within one year | 40/41 | €142,209 | €122,097 | -€20,111 | -14.1% |
| Trade receivables | 40 | €89,080 | €56,432 | -€32,649 | -36.7% |
| Other amounts receivable | 41 | €53,129 | €65,666 | +€12,537 | +23.6% |
| Cash at bank and in hand | 54/58 | €115,165 | €145,702 | +€30,538 | +26.5% |
| Deferred charges and accrued income | 490/1 | €374 | €359 | -€15 | -3.9% |
| Total equity and liabilities | 10/49 | €564,998 | €598,064 | +€33,066 | +5.9% |
| Equity | 10/15 | €150,813 | €148,766 | -€2,047 | -1.4% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €149,313 | €147,266 | -€2,047 | -1.4% |
| Distributable reserves | 133 | €149,313 | €147,266 | -€2,047 | -1.4% |
| Amounts payable | 17/49 | €414,185 | €449,298 | +€35,113 | +8.5% |
| Amounts payable after more than one year | 17 | €206,558 | €228,304 | +€21,746 | +10.5% |
| Financial debts | 170/4 | €206,558 | €228,304 | +€21,746 | +10.5% |
| Amounts payable within one year | 42/48 | €207,137 | €160,504 | -€46,633 | -22.5% |
| Current portion of amounts payable after more than one year | 42 | €46,420 | €62,706 | +€16,286 | +35.1% |
| Trade debts | 44 | €74,304 | €56,258 | -€18,046 | -24.3% |
| Suppliers | 440/4 | €74,304 | €56,258 | -€18,046 | -24.3% |
| Taxes, remuneration and social security | 45 | €56,285 | €40,071 | -€16,214 | -28.8% |
| Taxes | 450/3 | €53,190 | €36,994 | -€16,196 | -30.4% |
| Remuneration and social security | 454/9 | €3,096 | €3,077 | -€19 | -0.6% |
| Other amounts payable | 47/48 | €30,128 | €1,470 | -€28,658 | -95.1% |
| Accrued charges and deferred income | 492/3 | €490 | €60,490 | +€60,000 | +12,245% |
| Remuneration, social security and pensions | 62 | €82,884 | €92,812 | +€9,928 | +12.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,206 | €60,222 | +€11,016 | +22.4% |
| Other operating charges | 640/8 | €10,387 | €5,282 | -€5,105 | -49.1% |
| Gross operating margin | 9900 | €199,909 | €175,205 | -€24,703 | -12.4% |
| Operating profit (loss) | 9901 | €57,432 | €16,889 | -€40,542 | -70.6% |
| Financial income | 75/76B | €800 | €378 | -€423 | -52.8% |
| Recurring financial income | 75 | €800 | €378 | -€423 | -52.8% |
| Financial charges | 65/66B | €11,290 | €16,181 | +€4,892 | +43.3% |
| Recurring financial charges | 65 | €11,290 | €16,181 | +€4,892 | +43.3% |
| Profit (loss) for the period before taxes | 9903 | €46,943 | €1,086 | -€45,857 | -97.7% |
| Income taxes | 67/77 | €9,600 | €3,132 | -€6,467 | -67.4% |
| Profit (loss) for the period | 9904 | €37,343 | -€2,047 | -€39,390 | |
| Profit (loss) for the period to be appropriated | 9905 | €37,343 | -€2,047 | -€39,390 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.