MTO 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.
MTO MANAGEMENT
Largest movements
- Receivables within one year +€63,138
new in 2025: €63,138
- Tangible fixed assets -€7,531
down €7,531 (-16.9%), from €44,571 to €37,040
of which Other tangible fixed assets: -€5,689
- Profit (loss) carried forward +€89,195
up €89,195 (+81.2%), from €109,909 to €199,104
- Debts after one year -€29,505
down €29,505 (-31.4%), from €93,933 to €64,427
- Current portion of long-term debt -€10,885
down €10,885 (-26.9%), from €40,390 to €29,505
- Gross operating margin +€121,408
up €121,408 (+214%), from €56,850 to €178,257
- Taxes +€32,039
up €32,039 (+288%), from €11,117 to €43,156
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 | €326,234 | €381,921 | +€55,687 | +17.1% |
| Fixed assets | 21/28 | €309,905 | €302,373 | -€7,531 | -2.4% |
| Tangible fixed assets | 22/27 | €44,571 | €37,040 | -€7,531 | -16.9% |
| Plant, machinery and equipment | 23 | €996 | €281 | -€715 | -71.8% |
| Furniture and vehicles | 24 | €2,547 | €1,420 | -€1,127 | -44.3% |
| Other tangible fixed assets | 26 | €41,028 | €35,339 | -€5,689 | -13.9% |
| Financial fixed assets | 28 | €265,334 | €265,334 | = | 0.0% |
| Current assets | 29/58 | €16,329 | €79,548 | +€63,218 | +387% |
| Amounts receivable within one year | 40/41 | - | €63,138 | +€63,138 | |
| Trade receivables | 40 | - | €63,138 | +€63,138 | |
| Cash at bank and in hand | 54/58 | €15,109 | €15,190 | +€81 | +0.5% |
| Deferred charges and accrued income | 490/1 | €1,220 | €1,220 | = | 0.0% |
| Total equity and liabilities | 10/49 | €326,234 | €381,921 | +€55,687 | +17.1% |
| Equity | 10/15 | €112,909 | €202,104 | +€89,195 | +79.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €109,909 | €199,104 | +€89,195 | +81.2% |
| Amounts payable | 17/49 | €213,325 | €179,817 | -€33,508 | -15.7% |
| Amounts payable after more than one year | 17 | €93,933 | €64,427 | -€29,505 | -31.4% |
| Financial debts | 170/4 | €93,933 | €64,427 | -€29,505 | -31.4% |
| Amounts payable within one year | 42/48 | €115,646 | €111,644 | -€4,002 | -3.5% |
| Current portion of amounts payable after more than one year | 42 | €40,390 | €29,505 | -€10,885 | -26.9% |
| Financial debts | 43 | - | €1,570 | +€1,570 | |
| Other loans | 439 | - | €1,570 | +€1,570 | |
| Trade debts | 44 | €1,479 | €2,040 | +€561 | +37.9% |
| Suppliers | 440/4 | €1,479 | €2,040 | +€561 | +37.9% |
| Taxes, remuneration and social security | 45 | €70,898 | €73,003 | +€2,104 | +3.0% |
| Taxes | 450/3 | €70,898 | €73,003 | +€2,104 | +3.0% |
| Other amounts payable | 47/48 | €2,879 | €5,526 | +€2,647 | +91.9% |
| Accrued charges and deferred income | 492/3 | €3,746 | €3,746 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,777 | €7,531 | -€245 | -3.2% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €56,850 | €178,257 | +€121,408 | +214% |
| Operating profit (loss) | 9901 | €48,686 | €170,327 | +€121,641 | +250% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €9,415 | €7,976 | -€1,439 | -15.3% |
| Recurring financial charges | 65 | €9,415 | €7,976 | -€1,439 | -15.3% |
| Profit (loss) for the period before taxes | 9903 | €39,270 | €162,351 | +€123,080 | +313% |
| Income taxes | 67/77 | €11,117 | €43,156 | +€32,039 | +288% |
| Profit (loss) for the period | 9904 | €28,154 | €119,195 | +€91,041 | +323% |
| Profit (loss) for the period to be appropriated | 9905 | €28,154 | €119,195 | +€91,041 | +323% |
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.