MTM Safety: 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 Safety
Largest movements
- Tangible fixed assets +€133,260
up €133,260 (+33.7%), from €395,634 to €528,894
of which Land and buildings: +€125,932
- Receivables within one year +€48,607
up €48,607 (+198%), from €24,551 to €73,158
of which Trade receivables: +€49,132
- Stocks and contracts +€17,389
up €17,389 (+5,463%), from €318 to €17,707
- Cash +€8,452
up €8,452 (+16.2%), from €52,217 to €60,669
mainly Debts after one year (+€109,409) and Net result for the year (+€102,065)
- Debts after one year +€109,409
up €109,409 (+44.2%), from €247,486 to €356,895
- Other debts +€72,619
up €72,619 (+291%), from €24,923 to €97,542
- Profit (loss) carried forward +€22,065
up €22,065 (+18.5%), from €119,511 to €141,575
- Current portion of long-term debt +€10,368
up €10,368 (+33.4%), from €31,069 to €41,437
- Tax, wage and social debts -€8,968
down €8,968 (-46.4%), from €19,316 to €10,348
- Depreciation +€19,767
up €19,767 (+84.2%), from €23,471 to €43,238
- Gross operating margin +€17,873
up €17,873 (+10.5%), from €169,723 to €187,596
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 | €472,818 | €680,537 | +€207,719 | +43.9% |
| Fixed assets | 21/28 | €395,634 | €528,894 | +€133,260 | +33.7% |
| Tangible fixed assets | 22/27 | €395,634 | €528,894 | +€133,260 | +33.7% |
| Land and buildings | 22 | €358,654 | €484,586 | +€125,932 | +35.1% |
| Plant, machinery and equipment | 23 | - | €2,771 | +€2,771 | |
| Furniture and vehicles | 24 | €8,278 | €13,961 | +€5,683 | +68.6% |
| Leasing and similar rights | 25 | €12,013 | €5,410 | -€6,603 | -55.0% |
| Other tangible fixed assets | 26 | €16,689 | €22,166 | +€5,477 | +32.8% |
| Current assets | 29/58 | €77,184 | €151,643 | +€74,459 | +96.5% |
| Stocks and contracts in progress | 3 | €318 | €17,707 | +€17,389 | +5,463% |
| Stocks | 30/36 | €318 | €17,707 | +€17,389 | +5,463% |
| Amounts receivable within one year | 40/41 | €24,551 | €73,158 | +€48,607 | +198% |
| Trade receivables | 40 | €21,253 | €70,386 | +€49,132 | +231% |
| Other amounts receivable | 41 | €3,298 | €2,772 | -€526 | -15.9% |
| Cash at bank and in hand | 54/58 | €52,217 | €60,669 | +€8,452 | +16.2% |
| Deferred charges and accrued income | 490/1 | €98 | €109 | +€12 | +11.9% |
| Total equity and liabilities | 10/49 | €472,818 | €680,537 | +€207,719 | +43.9% |
| Equity | 10/15 | €138,111 | €160,175 | +€22,065 | +16.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €119,511 | €141,575 | +€22,065 | +18.5% |
| Amounts payable | 17/49 | €334,707 | €520,362 | +€185,655 | +55.5% |
| Amounts payable after more than one year | 17 | €247,486 | €356,895 | +€109,409 | +44.2% |
| Financial debts | 170/4 | €247,486 | €356,895 | +€109,409 | +44.2% |
| Amounts payable within one year | 42/48 | €87,222 | €163,467 | +€76,246 | +87.4% |
| Current portion of amounts payable after more than one year | 42 | €31,069 | €41,437 | +€10,368 | +33.4% |
| Trade debts | 44 | €11,914 | €14,140 | +€2,226 | +18.7% |
| Suppliers | 440/4 | €11,914 | €14,140 | +€2,226 | +18.7% |
| Taxes, remuneration and social security | 45 | €19,316 | €10,348 | -€8,968 | -46.4% |
| Taxes | 450/3 | €19,316 | €10,348 | -€8,968 | -46.4% |
| Other amounts payable | 47/48 | €24,923 | €97,542 | +€72,619 | +291% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,471 | €43,238 | +€19,767 | +84.2% |
| Other operating charges | 640/8 | €2,626 | €2,669 | +€43 | +1.6% |
| Non-recurring operating charges | 66A | €1,746 | - | -€1,746 | |
| Gross operating margin | 9900 | €169,723 | €187,596 | +€17,873 | +10.5% |
| Operating profit (loss) | 9901 | €141,880 | €141,689 | -€191 | -0.1% |
| Financial income | 75/76B | €150 | €119 | -€32 | -21.1% |
| Recurring financial income | 75 | €150 | €119 | -€32 | -21.1% |
| Financial charges | 65/66B | €7,551 | €9,218 | +€1,667 | +22.1% |
| Recurring financial charges | 65 | €7,551 | €9,218 | +€1,667 | +22.1% |
| Profit (loss) for the period before taxes | 9903 | €134,479 | €132,589 | -€1,890 | -1.4% |
| Income taxes | 67/77 | €30,830 | €30,525 | -€305 | -1.0% |
| Profit (loss) for the period | 9904 | €103,650 | €102,065 | -€1,585 | -1.5% |
| Profit (loss) for the period to be appropriated | 9905 | €103,650 | €102,065 | -€1,585 | -1.5% |
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.