MTH&AMD: 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.
MTH&AMD
Largest movements
- Intangible fixed assets -€12,000
down €12,000 (-30.8%), from €38,959 to €26,959
- Cash +€2,429
up €2,429 (+16.7%), from €14,503 to €16,932
mainly Depreciation (+€12,000) and Net result for the year (+€2,414)
- Stocks and contracts +€2,093
new in 2025: €2,093
- Deferred charges and accrued income +€734
new in 2025: €734
- Debts after one year -€8,459
down €8,459 (-22.0%), from €38,406 to €29,947
- Profit (loss) carried forward +€3,934
up €3,934, from -€1,868 to €2,065
- Trade debts -€2,685
down €2,685 (-19.6%), from €13,705 to €11,020
- Gross operating margin -€5,354
down €5,354 (-21.1%), from €25,335 to €19,981
- Taxes +€561
up €561 (+606%), from €93 to €654
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 | €60,024 | €53,145 | -€6,879 | -11.5% |
| Fixed assets | 21/28 | €42,286 | €30,286 | -€12,000 | -28.4% |
| Intangible fixed assets | 21 | €38,959 | €26,959 | -€12,000 | -30.8% |
| Financial fixed assets | 28 | €3,327 | €3,327 | = | 0.0% |
| Current assets | 29/58 | €17,737 | €22,859 | +€5,122 | +28.9% |
| Stocks and contracts in progress | 3 | - | €2,093 | +€2,093 | |
| Stocks | 30/36 | - | €2,093 | +€2,093 | |
| Amounts receivable within one year | 40/41 | €3,234 | €3,101 | -€133 | -4.1% |
| Trade receivables | 40 | €3,234 | €764 | -€2,470 | -76.4% |
| Other amounts receivable | 41 | - | €2,337 | +€2,337 | |
| Cash at bank and in hand | 54/58 | €14,503 | €16,932 | +€2,429 | +16.7% |
| Deferred charges and accrued income | 490/1 | - | €734 | +€734 | |
| Total equity and liabilities | 10/49 | €60,024 | €53,145 | -€6,879 | -11.5% |
| Equity | 10/15 | -€868 | €3,065 | +€3,934 | |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,868 | €2,065 | +€3,934 | |
| Amounts payable | 17/49 | €60,892 | €50,080 | -€10,812 | -17.8% |
| Amounts payable after more than one year | 17 | €38,406 | €29,947 | -€8,459 | -22.0% |
| Financial debts | 170/4 | €38,406 | €29,947 | -€8,459 | -22.0% |
| Amounts payable within one year | 42/48 | €22,486 | €20,133 | -€2,353 | -10.5% |
| Current portion of amounts payable after more than one year | 42 | €8,128 | €8,459 | +€331 | +4.1% |
| Trade debts | 44 | €13,705 | €11,020 | -€2,685 | -19.6% |
| Suppliers | 440/4 | €13,705 | €11,020 | -€2,685 | -19.6% |
| Taxes, remuneration and social security | 45 | €654 | €654 | +€0 | +0.1% |
| Taxes | 450/3 | €654 | €654 | +€0 | +0.1% |
| Remuneration, social security and pensions | 62 | €96 | €98 | +€2 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,000 | €12,000 | = | 0.0% |
| Other operating charges | 640/8 | - | €227 | +€227 | |
| Gross operating margin | 9900 | €25,335 | €19,981 | -€5,354 | -21.1% |
| Operating profit (loss) | 9901 | €13,239 | €7,655 | -€5,583 | -42.2% |
| Financial income | 75/76B | - | €5 | +€5 | |
| Recurring financial income | 75 | - | €5 | +€5 | |
| Financial charges | 65/66B | €4,429 | €4,592 | +€162 | +3.7% |
| Recurring financial charges | 65 | €4,429 | €4,592 | +€162 | +3.7% |
| Profit (loss) for the period before taxes | 9903 | €8,809 | €3,069 | -€5,741 | -65.2% |
| Income taxes | 67/77 | €93 | €654 | +€561 | +606% |
| Profit (loss) for the period | 9904 | €8,717 | €2,414 | -€6,302 | -72.3% |
| Profit (loss) for the period to be appropriated | 9905 | €8,717 | €2,414 | -€6,302 | -72.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.