MTLH Management: 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.
MTLH Management
Largest movements
- Tangible fixed assets -€277,637
no longer reported in 2025 (was €277,637)
- Receivables within one year +€154,808
up €154,808 (+341%), from €45,413 to €200,222
of which Other amounts receivable: +€188,265
- Cash +€44,897
up €44,897 (+778%), from €5,769 to €50,666
mainly Investment in fixed assets (net) (+€277,637) and Other debts (+€116,210)
- Debts after one year -€131,208
no longer reported in 2025 (was €131,208)
- Other debts +€116,210
up €116,210 (+204%), from €56,891 to €173,101
- Trade debts -€35,214
down €35,214 (-62.4%), from €56,454 to €21,240
- Current portion of long-term debt -€10,647
no longer reported in 2025 (was €10,647)
- Profit (loss) carried forward -€10,054
down €10,054 (-16.7%), from €60,161 to €50,107
- Gross operating margin +€29,012
up €29,012, from -€24,374 to €4,637
- Depreciation -€20,542
no longer reported in 2025 (was €20,542)
- Other operating charges +€10,240
up €10,240 (+310%), from €3,299 to €13,539
- Financial charges -€1,685
down €1,685 (-60.7%), from €2,775 to €1,090
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 | €328,819 | €250,887 | -€77,932 | -23.7% |
| Fixed assets | 21/28 | €277,637 | - | -€277,637 | |
| Tangible fixed assets | 22/27 | €277,637 | - | -€277,637 | |
| Land and buildings | 22 | €277,637 | - | -€277,637 | |
| Current assets | 29/58 | €51,182 | €250,887 | +€199,705 | +390% |
| Amounts receivable within one year | 40/41 | €45,413 | €200,222 | +€154,808 | +341% |
| Trade receivables | 40 | €38,485 | €5,028 | -€33,456 | -86.9% |
| Other amounts receivable | 41 | €6,929 | €195,194 | +€188,265 | +2,717% |
| Cash at bank and in hand | 54/58 | €5,769 | €50,666 | +€44,897 | +778% |
| Total equity and liabilities | 10/49 | €328,819 | €250,887 | -€77,932 | -23.7% |
| Equity | 10/15 | €65,161 | €55,107 | -€10,054 | -15.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €60,161 | €50,107 | -€10,054 | -16.7% |
| Amounts payable | 17/49 | €263,658 | €195,780 | -€67,878 | -25.7% |
| Amounts payable after more than one year | 17 | €131,208 | - | -€131,208 | |
| Financial debts | 170/4 | €131,208 | - | -€131,208 | |
| Amounts payable within one year | 42/48 | €132,450 | €195,780 | +€63,330 | +47.8% |
| Current portion of amounts payable after more than one year | 42 | €10,647 | - | -€10,647 | |
| Trade debts | 44 | €56,454 | €21,240 | -€35,214 | -62.4% |
| Suppliers | 440/4 | €56,454 | €21,240 | -€35,214 | -62.4% |
| Taxes, remuneration and social security | 45 | €8,458 | €1,439 | -€7,018 | -83.0% |
| Taxes | 450/3 | €8,458 | €1,439 | -€7,018 | -83.0% |
| Other amounts payable | 47/48 | €56,891 | €173,101 | +€116,210 | +204% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,542 | - | -€20,542 | |
| Other operating charges | 640/8 | €3,299 | €13,539 | +€10,240 | +310% |
| Gross operating margin | 9900 | -€24,374 | €4,637 | +€29,012 | |
| Operating profit (loss) | 9901 | -€48,216 | -€8,902 | +€39,314 | +81.5% |
| Financial charges | 65/66B | €2,775 | €1,090 | -€1,685 | -60.7% |
| Recurring financial charges | 65 | €2,775 | €1,090 | -€1,685 | -60.7% |
| Profit (loss) for the period before taxes | 9903 | -€50,990 | -€9,992 | +€40,998 | +80.4% |
| Income taxes | 67/77 | - | €63 | +€63 | |
| Profit (loss) for the period | 9904 | -€50,990 | -€10,054 | +€40,936 | +80.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€50,990 | -€10,054 | +€40,936 | +80.3% |
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 15 October 2026 via checked.be.