MTJA: 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.
MTJA
Largest movements
- Cash +€15,145
up €15,145 (+88.0%), from €17,218 to €32,363
mainly Net result for the year (+€23,700) and Other debts (+€20,851)
- Current investments +€8,602
up €8,602 (+5.9%), from €145,275 to €153,877
- Receivables within one year +€5,120
up €5,120 (+104.3%), from €4,910 to €10,031
of which Trade receivables: +€5,120
- Other debts +€20,851
up €20,851 (+1073.6%), from €1,942 to €22,793
- Trade debts +€6,628
up €6,628 (+1191.6%), from €556 to €7,184
- Reserves +€4,184
up €4,184 (+2.5%), from €168,751 to €172,935
- Financial charges -€12,682
down €12,682, from €8,856 to -€3,826
- Gross operating margin -€5,874
down €5,874 (-12.6%), from €46,625 to €40,752
- Taxes +€2,962
up €2,962 (+15.2%), from €19,453 to €22,415
- Financial income +€919
up €919 (+21.8%), from €4,219 to €5,138
- Depreciation +€867
up €867 (+39.2%), from €2,214 to €3,081
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 | €200,223 | €230,621 | +€30,398 | +15.2% |
| Fixed assets | 21/28 | €8,191 | €9,949 | +€1,758 | +21.5% |
| Tangible fixed assets | 22/27 | €8,191 | €9,949 | +€1,758 | +21.5% |
| Plant, machinery and equipment | 23 | - | €2,974 | +€2,974 | |
| Furniture and vehicles | 24 | €904 | €365 | -€540 | -59.7% |
| Other tangible fixed assets | 26 | €7,286 | €6,610 | -€677 | -9.3% |
| Current assets | 29/58 | €192,032 | €220,672 | +€28,640 | +14.9% |
| Amounts receivable after more than one year | 29 | €13,400 | €13,400 | = | 0.0% |
| Trade receivables | 290 | €13,400 | €13,400 | = | 0.0% |
| Stocks and contracts in progress | 3 | €6,197 | €4,225 | -€1,972 | -31.8% |
| Stocks | 30/36 | €6,197 | €4,225 | -€1,972 | -31.8% |
| Amounts receivable within one year | 40/41 | €4,910 | €10,031 | +€5,120 | +104.3% |
| Trade receivables | 40 | €4,910 | €10,031 | +€5,120 | +104.3% |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | €145,275 | €153,877 | +€8,602 | +5.9% |
| Cash at bank and in hand | 54/58 | €17,218 | €32,363 | +€15,145 | +88.0% |
| Deferred charges and accrued income | 490/1 | €5,033 | €6,778 | +€1,745 | +34.7% |
| Total equity and liabilities | 10/49 | €200,223 | €230,621 | +€30,398 | +15.2% |
| Equity | 10/15 | €181,151 | €185,335 | +€4,184 | +2.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €168,751 | €172,935 | +€4,184 | +2.5% |
| Distributable reserves | 133 | €168,751 | €172,935 | +€4,184 | +2.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €19,072 | €45,286 | +€26,214 | +137.4% |
| Amounts payable within one year | 42/48 | €13,072 | €39,286 | +€26,214 | +200.5% |
| Trade debts | 44 | €556 | €7,184 | +€6,628 | +1191.6% |
| Suppliers | 440/4 | €556 | €7,184 | +€6,628 | +1191.6% |
| Taxes, remuneration and social security | 45 | €10,574 | €9,310 | -€1,264 | -12.0% |
| Taxes | 450/3 | €10,574 | €9,310 | -€1,264 | -12.0% |
| Other amounts payable | 47/48 | €1,942 | €22,793 | +€20,851 | +1073.6% |
| Accrued charges and deferred income | 492/3 | €6,000 | €6,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,214 | €3,081 | +€867 | +39.2% |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | €46,625 | €40,752 | -€5,874 | -12.6% |
| Operating profit (loss) | 9901 | €43,906 | €37,151 | -€6,755 | -15.4% |
| Financial income | 75/76B | €4,219 | €5,138 | +€919 | +21.8% |
| Recurring financial income | 75 | €4,219 | €5,138 | +€919 | +21.8% |
| Financial charges | 65/66B | €8,856 | -€3,826 | -€12,682 | |
| Recurring financial charges | 65 | €8,856 | -€3,826 | -€12,682 | |
| Profit (loss) for the period before taxes | 9903 | €39,269 | €46,115 | +€6,846 | +17.4% |
| Income taxes | 67/77 | €19,453 | €22,415 | +€2,962 | +15.2% |
| Profit (loss) for the period | 9904 | €19,816 | €23,700 | +€3,884 | +19.6% |
| Profit (loss) for the period to be appropriated | 9905 | €19,816 | €23,700 | +€3,884 | +19.6% |
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 10 October 2026 via checked.be.