MTM-GIFTS: 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-GIFTS
Largest movements
- Stocks and contracts +€127,948
up €127,948 (+22.1%), from €579,532 to €707,480
- Tangible fixed assets +€114,672
up €114,672 (+279%), from €41,046 to €155,718
of which Furniture and vehicles: +€104,271
- Trade debts +€165,893
up €165,893 (+48.6%), from €341,303 to €507,196
- Reserves +€54,047
up €54,047 (+6.5%), from €837,733 to €891,780
of which Distributable reserves: +€54,047
- Other debts +€34,065
up €34,065 (+57.1%), from €59,688 to €93,753
- Tax, wage and social debts -€16,775
down €16,775 (-26.3%), from €63,874 to €47,099
of which Taxes: -€18,462
- Write-downs -€65,590
down €65,590 (-71.4%), from €91,911 to €26,322
- Staff costs +€60,151
up €60,151 (+72.2%), from €83,334 to €143,484
- Financial income +€31,881
up €31,881 (+333%), from €9,568 to €41,449
of which Financial income: +€31,881
- Gross operating margin +€13,830
up €13,830 (+4.0%), from €344,809 to €358,639
- Depreciation +€12,277
up €12,277 (+95.1%), from €12,908 to €25,185
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 | €1,377,597 | €1,614,827 | +€237,230 | +17.2% |
| Fixed assets | 21/28 | €45,981 | €160,653 | +€114,672 | +249% |
| Tangible fixed assets | 22/27 | €41,046 | €155,718 | +€114,672 | +279% |
| Land and buildings | 22 | €26,432 | €23,072 | -€3,361 | -12.7% |
| Plant, machinery and equipment | 23 | €9,476 | €23,238 | +€13,762 | +145% |
| Furniture and vehicles | 24 | €5,137 | €109,409 | +€104,271 | +2,030% |
| Financial fixed assets | 28 | €4,935 | €4,935 | = | 0.0% |
| Current assets | 29/58 | €1,331,617 | €1,454,174 | +€122,558 | +9.2% |
| Stocks and contracts in progress | 3 | €579,532 | €707,480 | +€127,948 | +22.1% |
| Stocks | 30/36 | €579,532 | €707,480 | +€127,948 | +22.1% |
| Amounts receivable within one year | 40/41 | €163,725 | €165,426 | +€1,702 | +1.0% |
| Trade receivables | 40 | €163,700 | €158,475 | -€5,225 | -3.2% |
| Other amounts receivable | 41 | €25 | €6,951 | +€6,927 | +27,942% |
| Cash at bank and in hand | 54/58 | €566,150 | €571,671 | +€5,520 | +1.0% |
| Deferred charges and accrued income | 490/1 | €22,210 | €9,597 | -€12,612 | -56.8% |
| Total equity and liabilities | 10/49 | €1,377,597 | €1,614,827 | +€237,230 | +17.2% |
| Equity | 10/15 | €912,733 | €966,780 | +€54,047 | +5.9% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €837,733 | €891,780 | +€54,047 | +6.5% |
| Non-distributable reserves | 130/1 | €7,500 | €7,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7,500 | €7,500 | = | 0.0% |
| Distributable reserves | 133 | €830,233 | €884,280 | +€54,047 | +6.5% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €464,865 | €648,047 | +€183,183 | +39.4% |
| Amounts payable within one year | 42/48 | €464,865 | €648,047 | +€183,183 | +39.4% |
| Trade debts | 44 | €341,303 | €507,196 | +€165,893 | +48.6% |
| Suppliers | 440/4 | €341,303 | €507,196 | +€165,893 | +48.6% |
| Taxes, remuneration and social security | 45 | €63,874 | €47,099 | -€16,775 | -26.3% |
| Taxes | 450/3 | €52,141 | €33,679 | -€18,462 | -35.4% |
| Remuneration and social security | 454/9 | €11,732 | €13,419 | +€1,687 | +14.4% |
| Other amounts payable | 47/48 | €59,688 | €93,753 | +€34,065 | +57.1% |
| Non-recurring operating income | 76A | - | €31,488 | +€31,488 | |
| Remuneration, social security and pensions | 62 | €83,334 | €143,484 | +€60,151 | +72.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,908 | €25,185 | +€12,277 | +95.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €91,911 | €26,322 | -€65,590 | -71.4% |
| Other operating charges | 640/8 | €4,657 | €5,233 | +€576 | +12.4% |
| Gross operating margin | 9900 | €344,809 | €358,639 | +€13,830 | +4.0% |
| Operating profit (loss) | 9901 | €151,999 | €158,415 | +€6,416 | +4.2% |
| Financial income | 75/76B | €9,568 | €41,449 | +€31,881 | +333% |
| Recurring financial income | 75 | €9,563 | €41,444 | +€31,881 | +333% |
| Non-recurring financial income | 76B | €5 | €5 | = | 0.0% |
| Financial charges | 65/66B | €9,601 | €11,863 | +€2,262 | +23.6% |
| Recurring financial charges | 65 | €9,601 | €11,863 | +€2,262 | +23.6% |
| Profit (loss) for the period before taxes | 9903 | €151,966 | €188,001 | +€36,035 | +23.7% |
| Income taxes | 67/77 | €46,759 | €57,728 | +€10,969 | +23.5% |
| Profit (loss) for the period | 9904 | €105,207 | €130,273 | +€25,066 | +23.8% |
| Profit (loss) for the period to be appropriated | 9905 | €105,207 | €130,273 | +€25,066 | +23.8% |
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 27 October 2026 via checked.be.