MTF GROUP: 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.
MTF GROUP
Largest movements
- Financial fixed assets -€1.5m
down €1.5m (-58.1%), from €2.6m to €1.1m
- Profit (loss) carried forward -€999,385
down €999,385, from €0 to -€999,385
- Short-term financial debts -€490,000
down €490,000 (-70.0%), from €700,000 to €210,000
- Trade debts +€109,707
up €109,707 (+208.4%), from €52,654 to €162,360
- Debts after one year -€67,018
down €67,018 (-6.0%), from €1.1m to €1.0m
- Other debts -€41,904
down €41,904 (-20.0%), from €209,816 to €167,912
- Financial charges +€1.1m
up €1.1m (+2434.9%), from €44,425 to €1.1m
of which Non-recurring financial charges: +€1.1m
- Financial income -€203,761
down €203,761 (-100.0%), from €203,761 to €0
- Gross operating margin +€127,107
up €127,107 (+129.7%), from €97,963 to €225,070
- Staff costs +€50,669
up €50,669 (+108.6%), from €46,654 to €97,323
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,694,565 | €1,224,614 | -€1.5m | -54.6% |
| Fixed assets | 21/28 | €2,583,167 | €1,083,167 | -€1.5m | -58.1% |
| Financial fixed assets | 28 | €2,583,167 | €1,083,167 | -€1.5m | -58.1% |
| Current assets | 29/58 | €111,398 | €141,447 | +€30,049 | +27.0% |
| Amounts receivable within one year | 40/41 | €88,519 | €103,016 | +€14,497 | +16.4% |
| Trade receivables | 40 | €83,523 | €1,288 | -€82,235 | -98.5% |
| Other amounts receivable | 41 | €4,996 | €101,728 | +€96,732 | +1936.2% |
| Cash at bank and in hand | 54/58 | €22,704 | €38,235 | +€15,532 | +68.4% |
| Deferred charges and accrued income | 490/1 | €175 | €196 | +€21 | +11.7% |
| Total equity and liabilities | 10/49 | €2,694,565 | €1,224,614 | -€1.5m | -54.6% |
| Equity | 10/15 | €477,766 | -€521,618 | -€999,385 | |
| Contributions | 10/11 | €333,167 | €333,167 | = | 0.0% |
| Reserves | 13 | €144,599 | €144,599 | = | 0.0% |
| Distributable reserves | 133 | €144,599 | €144,599 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | -€999,385 | -€999,385 | |
| Amounts payable | 17/49 | €2,216,799 | €1,746,232 | -€470,566 | -21.2% |
| Amounts payable after more than one year | 17 | €1,116,422 | €1,049,404 | -€67,018 | -6.0% |
| Financial debts | 170/4 | €1,116,422 | €1,049,404 | -€67,018 | -6.0% |
| Amounts payable within one year | 42/48 | €1,091,429 | €674,235 | -€417,194 | -38.2% |
| Current portion of amounts payable after more than one year | 42 | €116,963 | €119,731 | +€2,767 | +2.4% |
| Financial debts | 43 | €700,000 | €210,000 | -€490,000 | -70.0% |
| Credit institutions | 430/8 | €700,000 | €210,000 | -€490,000 | -70.0% |
| Trade debts | 44 | €52,654 | €162,360 | +€109,707 | +208.4% |
| Suppliers | 440/4 | €52,654 | €162,360 | +€109,707 | +208.4% |
| Taxes, remuneration and social security | 45 | €11,996 | €14,232 | +€2,236 | +18.6% |
| Taxes | 450/3 | €1,697 | €69 | -€1,628 | -95.9% |
| Remuneration and social security | 454/9 | €10,299 | €14,163 | +€3,864 | +37.5% |
| Other amounts payable | 47/48 | €209,816 | €167,912 | -€41,904 | -20.0% |
| Accrued charges and deferred income | 492/3 | €8,948 | €22,593 | +€13,646 | +152.5% |
| Remuneration, social security and pensions | 62 | €46,654 | €97,323 | +€50,669 | +108.6% |
| Other operating charges | 640/8 | €127 | €1,030 | +€903 | +710.6% |
| Gross operating margin | 9900 | €97,963 | €225,070 | +€127,107 | +129.7% |
| Operating profit (loss) | 9901 | €51,182 | €126,718 | +€75,536 | +147.6% |
| Financial income | 75/76B | €203,761 | €0 | -€203,761 | -100.0% |
| Recurring financial income | 75 | €203,761 | €0 | -€203,761 | -100.0% |
| Financial charges | 65/66B | €44,425 | €1,126,103 | +€1.1m | +2434.9% |
| Recurring financial charges | 65 | €44,425 | €71,103 | +€26,678 | +60.1% |
| Non-recurring financial charges | 66B | - | €1,055,000 | +€1.1m | |
| Profit (loss) for the period before taxes | 9903 | €210,519 | -€999,385 | -€1.2m | |
| Profit (loss) for the period | 9904 | €210,519 | -€999,385 | -€1.2m | |
| Profit (loss) for the period to be appropriated | 9905 | €210,519 | -€999,385 | -€1.2m |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.