MTH Advisory: 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.
MTH Advisory
Largest movements
- Cash +€13,594
up €13,594 (+4.5%), from €303,538 to €317,132
mainly Net result for the year (+€104,930) and Other debts (+€104,315)
- Receivables within one year -€10,063
down €10,063 (-38.0%), from €26,497 to €16,435
of which Other amounts receivable: -€18,649
- Tangible fixed assets -€3,460
down €3,460 (-41.4%), from €8,354 to €4,894
of which Furniture and vehicles: -€2,849
- Other debts +€104,315
up €104,315 (+7425.6%), from €1,405 to €105,720
- Profit (loss) carried forward -€71,449
down €71,449 (-100.0%), from €71,449 to €0
- Tax, wage and social debts -€32,487
down €32,487 (-60.2%), from €54,000 to €21,514
of which Taxes: -€32,487
- Gross operating margin +€36,584
up €36,584 (+35.4%), from €103,483 to €140,068
- Taxes +€9,858
up €9,858 (+50.2%), from €19,643 to €29,501
- Depreciation -€5,828
down €5,828 (-55.3%), from €10,549 to €4,720
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 | €340,584 | €339,602 | -€982 | -0.3% |
| Fixed assets | 21/28 | €8,354 | €4,894 | -€3,460 | -41.4% |
| Tangible fixed assets | 22/27 | €8,354 | €4,894 | -€3,460 | -41.4% |
| Plant, machinery and equipment | 23 | €2,374 | €1,763 | -€611 | -25.7% |
| Furniture and vehicles | 24 | €5,980 | €3,130 | -€2,849 | -47.7% |
| Current assets | 29/58 | €332,230 | €334,709 | +€2,478 | +0.7% |
| Amounts receivable within one year | 40/41 | €26,497 | €16,435 | -€10,063 | -38.0% |
| Trade receivables | 40 | €6,497 | €15,083 | +€8,586 | +132.1% |
| Other amounts receivable | 41 | €20,000 | €1,351 | -€18,649 | -93.2% |
| Cash at bank and in hand | 54/58 | €303,538 | €317,132 | +€13,594 | +4.5% |
| Deferred charges and accrued income | 490/1 | €2,195 | €1,142 | -€1,053 | -48.0% |
| Total equity and liabilities | 10/49 | €340,584 | €339,602 | -€982 | -0.3% |
| Equity | 10/15 | €283,353 | €211,904 | -€71,449 | -25.2% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Reserves | 13 | €211,903 | €211,903 | = | 0.0% |
| Distributable reserves | 133 | €211,903 | €211,903 | = | 0.0% |
| Profit (loss) carried forward | 14 | €71,449 | €0 | -€71,449 | -100.0% |
| Amounts payable | 17/49 | €57,231 | €127,698 | +€70,467 | +123.1% |
| Amounts payable within one year | 42/48 | €57,231 | €127,698 | +€70,467 | +123.1% |
| Trade debts | 44 | €1,826 | €465 | -€1,361 | -74.5% |
| Suppliers | 440/4 | €1,826 | €465 | -€1,361 | -74.5% |
| Taxes, remuneration and social security | 45 | €54,000 | €21,514 | -€32,487 | -60.2% |
| Taxes | 450/3 | €54,000 | €21,514 | -€32,487 | -60.2% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €1,405 | €105,720 | +€104,315 | +7425.6% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,549 | €4,720 | -€5,828 | -55.3% |
| Other operating charges | 640/8 | €64 | €853 | +€789 | +1236.6% |
| Gross operating margin | 9900 | €103,483 | €140,068 | +€36,584 | +35.4% |
| Operating profit (loss) | 9901 | €92,871 | €134,494 | +€41,624 | +44.8% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €61 | €64 | +€3 | +4.8% |
| Recurring financial charges | 65 | €61 | €64 | +€3 | +4.8% |
| Profit (loss) for the period before taxes | 9903 | €92,810 | €134,430 | +€41,621 | +44.8% |
| Income taxes | 67/77 | €19,643 | €29,501 | +€9,858 | +50.2% |
| Profit (loss) for the period | 9904 | €73,167 | €104,930 | +€31,763 | +43.4% |
| Profit (loss) for the period to be appropriated | 9905 | €73,167 | €104,930 | +€31,763 | +43.4% |
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 5 October 2026 via checked.be.