MTOr: 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.
MTOr
Largest movements
- Deferred charges and accrued income -€237,547
down €237,547 (-58.1%), from €409,061 to €171,514
- Stocks and contracts +€66,180
up €66,180 (+1732.5%), from €3,820 to €70,000
- Tangible fixed assets -€47,886
down €47,886 (-55.9%), from €85,618 to €37,732
of which Furniture and vehicles: -€27,420
- Receivables within one year +€32,035
up €32,035 (+16.9%), from €189,871 to €221,906
of which Other amounts receivable: +€48,366
- Trade debts -€132,321
down €132,321 (-28.2%), from €468,446 to €336,125
- Tax, wage and social debts -€53,656
down €53,656 (-38.9%), from €138,054 to €84,397
of which Taxes: -€39,425
- Debts after one year -€14,987
down €14,987 (-44.8%), from €33,467 to €18,479
- Profit (loss) carried forward +€12,772
up €12,772 (+11.1%), from €115,267 to €128,038
- Gross operating margin -€120,964
down €120,964 (-50.5%), from €239,472 to €118,508
- Staff costs -€73,276
down €73,276 (-65.2%), from €112,309 to €39,033
- Financial charges +€17,413
up €17,413 (+666.7%), from €2,612 to €20,025
- Taxes -€12,016
down €12,016 (-38.6%), from €31,141 to €19,125
- Depreciation -€9,579
down €9,579 (-29.5%), from €32,427 to €22,848
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €793,822 | €604,018 | -€189,803 | -23.9% |
| Fixed assets | 21/28 | €85,618 | €37,732 | -€47,886 | -55.9% |
| Tangible fixed assets | 22/27 | €85,618 | €37,732 | -€47,886 | -55.9% |
| Plant, machinery and equipment | 23 | €28,341 | €14,593 | -€13,748 | -48.5% |
| Furniture and vehicles | 24 | €32,134 | €4,714 | -€27,420 | -85.3% |
| Leasing and similar rights | 25 | €25,142 | €18,424 | -€6,718 | -26.7% |
| Current assets | 29/58 | €708,204 | €566,287 | -€141,917 | -20.0% |
| Amounts receivable after more than one year | 29 | €100,000 | €100,000 | = | 0.0% |
| Other amounts receivable | 291 | €100,000 | €100,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €3,820 | €70,000 | +€66,180 | +1732.5% |
| Stocks | 30/36 | €3,820 | €70,000 | +€66,180 | +1732.5% |
| Amounts receivable within one year | 40/41 | €189,871 | €221,906 | +€32,035 | +16.9% |
| Trade receivables | 40 | €172,582 | €156,250 | -€16,331 | -9.5% |
| Other amounts receivable | 41 | €17,289 | €65,655 | +€48,366 | +279.8% |
| Cash at bank and in hand | 54/58 | €5,452 | €2,867 | -€2,585 | -47.4% |
| Deferred charges and accrued income | 490/1 | €409,061 | €171,514 | -€237,547 | -58.1% |
| Total equity and liabilities | 10/49 | €793,822 | €604,018 | -€189,803 | -23.9% |
| Equity | 10/15 | €133,867 | €146,638 | +€12,772 | +9.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €115,267 | €128,038 | +€12,772 | +11.1% |
| Amounts payable | 17/49 | €659,955 | €457,380 | -€202,575 | -30.7% |
| Amounts payable after more than one year | 17 | €33,467 | €18,479 | -€14,987 | -44.8% |
| Financial debts | 170/4 | €33,467 | €18,479 | -€14,987 | -44.8% |
| Amounts payable within one year | 42/48 | €624,988 | €437,400 | -€187,587 | -30.0% |
| Current portion of amounts payable after more than one year | 42 | €14,359 | €14,912 | +€553 | +3.9% |
| Financial debts | 43 | €4,129 | €1,966 | -€2,163 | -52.4% |
| Credit institutions | 430/8 | €4,129 | €1,966 | -€2,163 | -52.4% |
| Trade debts | 44 | €468,446 | €336,125 | -€132,321 | -28.2% |
| Suppliers | 440/4 | €468,446 | €336,125 | -€132,321 | -28.2% |
| Taxes, remuneration and social security | 45 | €138,054 | €84,397 | -€53,656 | -38.9% |
| Taxes | 450/3 | €123,822 | €84,397 | -€39,425 | -31.8% |
| Remuneration and social security | 454/9 | €14,231 | - | -€14,231 | |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €1,500 | €1,500 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €112,309 | €39,033 | -€73,276 | -65.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,427 | €22,848 | -€9,579 | -29.5% |
| Other operating charges | 640/8 | €11,198 | €9,384 | -€1,815 | -16.2% |
| Gross operating margin | 9900 | €239,472 | €118,508 | -€120,964 | -50.5% |
| Operating profit (loss) | 9901 | €83,538 | €47,243 | -€36,295 | -43.4% |
| Financial income | 75/76B | €2,589 | €4,679 | +€2,090 | +80.7% |
| Recurring financial income | 75 | €2,589 | €4,679 | +€2,090 | +80.7% |
| Financial charges | 65/66B | €2,612 | €20,025 | +€17,413 | +666.7% |
| Recurring financial charges | 65 | €2,612 | €20,025 | +€17,413 | +666.7% |
| Profit (loss) for the period before taxes | 9903 | €83,515 | €31,897 | -€51,618 | -61.8% |
| Income taxes | 67/77 | €31,141 | €19,125 | -€12,016 | -38.6% |
| Profit (loss) for the period | 9904 | €52,374 | €12,772 | -€39,603 | -75.6% |
| Profit (loss) for the period to be appropriated | 9905 | €52,374 | €12,772 | -€39,603 | -75.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.