MTM: 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.
MTM
Largest movements
- Cash +€11,642
up €11,642 (+630.4%), from €1,847 to €13,489
mainly Debts after one year (+€14,000) and Depreciation (+€6,826)
- Tangible fixed assets -€6,826
down €6,826 (-6.3%), from €108,163 to €101,337
- Debts after one year +€14,000
up €14,000 (+13.3%), from €105,000 to €119,000
- Profit (loss) carried forward -€10,708
down €10,708 (-11.4%), from -€93,686 to -€104,394
- Gross operating margin +€670
up €670 (+16.6%), from -€4,032 to -€3,363
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 | €111,428 | €115,160 | +€3,733 | +3.3% |
| Fixed assets | 21/28 | €108,163 | €101,337 | -€6,826 | -6.3% |
| Tangible fixed assets | 22/27 | €108,163 | €101,337 | -€6,826 | -6.3% |
| Land and buildings | 22 | €108,163 | €101,337 | -€6,826 | -6.3% |
| Current assets | 29/58 | €3,265 | €13,823 | +€10,558 | +323.4% |
| Amounts receivable within one year | 40/41 | €1,213 | €121 | -€1,092 | -90.0% |
| Other amounts receivable | 41 | €1,213 | €121 | -€1,092 | -90.0% |
| Cash at bank and in hand | 54/58 | €1,847 | €13,489 | +€11,642 | +630.4% |
| Deferred charges and accrued income | 490/1 | €205 | €214 | +€8 | +4.0% |
| Total equity and liabilities | 10/49 | €111,428 | €115,160 | +€3,733 | +3.3% |
| Equity | 10/15 | €6,314 | -€4,394 | -€10,708 | |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€93,686 | -€104,394 | -€10,708 | -11.4% |
| Amounts payable | 17/49 | €105,113 | €119,554 | +€14,441 | +13.7% |
| Amounts payable after more than one year | 17 | €105,000 | €119,000 | +€14,000 | +13.3% |
| Financial debts | 170/4 | €105,000 | €119,000 | +€14,000 | +13.3% |
| Amounts payable within one year | 42/48 | €113 | €554 | +€441 | +389.3% |
| Trade debts | 44 | €29 | €470 | +€441 | +1510.9% |
| Suppliers | 440/4 | €29 | €470 | +€441 | +1510.9% |
| Other amounts payable | 47/48 | €84 | €84 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,825 | €6,826 | +€0 | 0.0% |
| Other operating charges | 640/8 | €413 | €426 | +€13 | +3.2% |
| Gross operating margin | 9900 | -€4,032 | -€3,363 | +€670 | +16.6% |
| Operating profit (loss) | 9901 | -€11,270 | -€10,614 | +€656 | +5.8% |
| Financial charges | 65/66B | €95 | €94 | -€1 | -1.2% |
| Recurring financial charges | 65 | €95 | €94 | -€1 | -1.2% |
| Profit (loss) for the period before taxes | 9903 | -€11,366 | -€10,708 | +€658 | +5.8% |
| Profit (loss) for the period | 9904 | -€11,366 | -€10,708 | +€658 | +5.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,366 | -€10,708 | +€658 | +5.8% |
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.