MTM VASTGOED: 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 VASTGOED
Largest movements
- Tangible fixed assets -€752,699
down €752,699 (-32.0%), from €2.4m to €1.6m
of which Land and buildings: -€740,976
- Receivables within one year +€75,399
up €75,399 (+306%), from €24,601 to €100,000
of which Trade receivables: +€99,932
- Short-term financial debts -€1.5m
down €1.5m (-72.0%), from €2.1m to €594,487
- Profit (loss) carried forward +€817,002
up €817,002, from -€174,042 to €642,960
- Trade debts +€29,492
up €29,492 (+17,104%), from €172 to €29,665
- Gross operating margin +€1.0m
up €1.0m (+38,946%), from €2,624 to €1.0m
- Taxes +€94,900
new in 2025: €94,900
- Depreciation -€31,652
down €31,652 (-42.8%), from €74,002 to €42,350
- Financial charges -€31,090
down €31,090 (-32.2%), from €96,427 to €65,337
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 | €2,431,581 | €1,743,524 | -€688,058 | -28.3% |
| Fixed assets | 21/28 | €2,352,733 | €1,600,034 | -€752,699 | -32.0% |
| Tangible fixed assets | 22/27 | €2,352,733 | €1,600,034 | -€752,699 | -32.0% |
| Land and buildings | 22 | €2,341,010 | €1,600,034 | -€740,976 | -31.7% |
| Furniture and vehicles | 24 | €11,723 | €0 | -€11,723 | -100% |
| Current assets | 29/58 | €78,849 | €143,490 | +€64,641 | +82.0% |
| Amounts receivable within one year | 40/41 | €24,601 | €100,000 | +€75,399 | +306% |
| Trade receivables | 40 | €68 | €100,000 | +€99,932 | +146,959% |
| Other amounts receivable | 41 | €24,533 | €0 | -€24,533 | -100% |
| Cash at bank and in hand | 54/58 | €54,248 | €43,490 | -€10,758 | -19.8% |
| Total equity and liabilities | 10/49 | €2,431,581 | €1,743,524 | -€688,058 | -28.3% |
| Equity | 10/15 | €200,835 | €1,017,837 | +€817,002 | +407% |
| Contributions | 10/11 | €368,800 | €368,800 | = | 0.0% |
| Reserves | 13 | €6,077 | €6,077 | = | 0.0% |
| Distributable reserves | 133 | €6,077 | €6,077 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€174,042 | €642,960 | +€817,002 | |
| Amounts payable | 17/49 | €2,230,747 | €725,687 | -€1.5m | -67.5% |
| Amounts payable within one year | 42/48 | €2,207,795 | €712,161 | -€1.5m | -67.7% |
| Financial debts | 43 | €2,122,194 | €594,487 | -€1.5m | -72.0% |
| Credit institutions | 430/8 | €2,122,194 | €594,487 | -€1.5m | -72.0% |
| Trade debts | 44 | €172 | €29,665 | +€29,492 | +17,104% |
| Suppliers | 440/4 | €172 | €29,665 | +€29,492 | +17,104% |
| Taxes, remuneration and social security | 45 | - | €900 | +€900 | |
| Taxes | 450/3 | - | €900 | +€900 | |
| Other amounts payable | 47/48 | €85,429 | €87,110 | +€1,680 | +2.0% |
| Accrued charges and deferred income | 492/3 | €22,951 | €13,525 | -€9,426 | -41.1% |
| Non-recurring operating income | 76A | - | €932,617 | +€932,617 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €74,002 | €42,350 | -€31,652 | -42.8% |
| Other operating charges | 640/8 | €4,778 | €4,926 | +€149 | +3.1% |
| Gross operating margin | 9900 | €2,624 | €1,024,516 | +€1.0m | +38,946% |
| Operating profit (loss) | 9901 | -€76,156 | €977,240 | +€1.1m | |
| Financial income | 75/76B | €949 | €0 | -€949 | -100% |
| Recurring financial income | 75 | €949 | €0 | -€949 | -100% |
| Financial charges | 65/66B | €96,427 | €65,337 | -€31,090 | -32.2% |
| Recurring financial charges | 65 | €96,427 | €65,337 | -€31,090 | -32.2% |
| Profit (loss) for the period before taxes | 9903 | -€171,634 | €911,903 | +€1.1m | |
| Income taxes | 67/77 | - | €94,900 | +€94,900 | |
| Profit (loss) for the period | 9904 | -€171,634 | €817,002 | +€988,637 | |
| Profit (loss) for the period to be appropriated | 9905 | -€171,634 | €817,002 | +€988,637 |
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 19 October 2026 via checked.be.