MTG consult: 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.
MTG consult
Largest movements
- Receivables within one year +€60,616
up €60,616 (+1200.1%), from €5,051 to €65,667
of which Other amounts receivable: +€47,770
- Cash +€16,620
up €16,620 (+143.9%), from €11,549 to €28,169
mainly Net result for the year (+€82,965) and Tax, wage and social debts (+€29,836)
- Profit (loss) carried forward +€82,965
up €82,965 (+24.3%), from €342,109 to €425,074
- Advances received -€35,159
no longer reported in 2025 (was €35,159)
- Tax, wage and social debts +€29,836
up €29,836 (+133.8%), from €22,300 to €52,136
- Gross operating margin +€65,869
up €65,869 (+186.4%), from €35,332 to €101,200
- Taxes +€21,706
up €21,706 (+209.1%), from €10,381 to €32,087
- Financial income +€3,540
up €3,540 (+29.1%), from €12,168 to €15,708
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 | €520,808 | €597,852 | +€77,044 | +14.8% |
| Fixed assets | 21/28 | €2,662 | €2,336 | -€327 | -12.3% |
| Tangible fixed assets | 22/27 | €2,312 | €1,986 | -€327 | -14.1% |
| Furniture and vehicles | 24 | €2,312 | €1,986 | -€327 | -14.1% |
| Financial fixed assets | 28 | €350 | €350 | = | 0.0% |
| Current assets | 29/58 | €518,146 | €595,516 | +€77,370 | +14.9% |
| Amounts receivable after more than one year | 29 | €500,000 | €500,000 | = | 0.0% |
| Other amounts receivable | 291 | €500,000 | €500,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €5,051 | €65,667 | +€60,616 | +1200.1% |
| Trade receivables | 40 | - | €12,846 | +€12,846 | |
| Other amounts receivable | 41 | €5,051 | €52,821 | +€47,770 | +945.8% |
| Cash at bank and in hand | 54/58 | €11,549 | €28,169 | +€16,620 | +143.9% |
| Deferred charges and accrued income | 490/1 | €1,546 | €1,680 | +€134 | +8.7% |
| Total equity and liabilities | 10/49 | €520,808 | €597,852 | +€77,044 | +14.8% |
| Equity | 10/15 | €461,969 | €544,934 | +€82,965 | +18.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €101,260 | €101,260 | = | 0.0% |
| Tax-exempt reserves | 132 | €69,400 | €69,400 | = | 0.0% |
| Distributable reserves | 133 | €31,860 | €31,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €342,109 | €425,074 | +€82,965 | +24.3% |
| Amounts payable | 17/49 | €58,839 | €52,918 | -€5,921 | -10.1% |
| Amounts payable within one year | 42/48 | €58,839 | €52,918 | -€5,921 | -10.1% |
| Trade debts | 44 | €1,381 | €782 | -€598 | -43.3% |
| Suppliers | 440/4 | €1,381 | €782 | -€598 | -43.3% |
| Advances received on contracts in progress | 46 | €35,159 | - | -€35,159 | |
| Taxes, remuneration and social security | 45 | €22,300 | €52,136 | +€29,836 | +133.8% |
| Taxes | 450/3 | €22,300 | €52,136 | +€29,836 | +133.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €737 | €1,325 | +€589 | +79.9% |
| Other operating charges | 640/8 | €197 | €398 | +€201 | +102.1% |
| Gross operating margin | 9900 | €35,332 | €101,200 | +€65,869 | +186.4% |
| Operating profit (loss) | 9901 | €34,398 | €99,477 | +€65,079 | +189.2% |
| Financial income | 75/76B | €12,168 | €15,708 | +€3,540 | +29.1% |
| Recurring financial income | 75 | €12,168 | €15,708 | +€3,540 | +29.1% |
| Financial charges | 65/66B | €284 | €132 | -€152 | -53.4% |
| Recurring financial charges | 65 | €284 | €132 | -€152 | -53.4% |
| Profit (loss) for the period before taxes | 9903 | €46,282 | €115,052 | +€68,770 | +148.6% |
| Income taxes | 67/77 | €10,381 | €32,087 | +€21,706 | +209.1% |
| Profit (loss) for the period | 9904 | €35,901 | €82,965 | +€47,064 | +131.1% |
| Profit (loss) for the period to be appropriated | 9905 | €35,901 | €82,965 | +€47,064 | +131.1% |
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 7 October 2026 via checked.be.