MTR 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.
MTR Vastgoed
Largest movements
- Receivables within one year +€122,922
up €122,922 (+209.4%), from €58,700 to €181,622
- Cash +€11,371
up €11,371 (+258.3%), from €4,403 to €15,774
mainly Net result for the year (+€126,152) and Depreciation (+€16,889)
- Reserves +€126,152
up €126,152 (+67.3%), from €187,543 to €313,695
- Debts after one year -€16,477
down €16,477 (-3.7%), from €440,695 to €424,219
of which Other amounts payable: -€22,581
- Current portion of long-term debt +€11,046
up €11,046 (+19.1%), from €57,828 to €68,875
- Tax, wage and social debts +€8,992
up €8,992 (+745.2%), from €1,207 to €10,199
- Gross operating margin +€28,148
up €28,148 (+17.4%), from €161,718 to €189,866
- Taxes +€8,646
up €8,646 (+30.8%), from €28,038 to €36,685
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.
Cash bridge derived
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 | €707,737 | €837,807 | +€130,070 | +18.4% |
| Fixed assets | 21/28 | €644,101 | €640,398 | -€3,703 | -0.6% |
| Tangible fixed assets | 22/27 | €644,101 | €640,398 | -€3,703 | -0.6% |
| Land and buildings | 22 | €643,915 | €628,763 | -€15,152 | -2.4% |
| Plant, machinery and equipment | 23 | €187 | €11,635 | +€11,448 | +6124.6% |
| Current assets | 29/58 | €63,635 | €197,409 | +€133,774 | +210.2% |
| Amounts receivable within one year | 40/41 | €58,700 | €181,622 | +€122,922 | +209.4% |
| Other amounts receivable | 41 | €58,700 | €181,622 | +€122,922 | +209.4% |
| Cash at bank and in hand | 54/58 | €4,403 | €15,774 | +€11,371 | +258.3% |
| Deferred charges and accrued income | 490/1 | €533 | €13 | -€520 | -97.6% |
| Total equity and liabilities | 10/49 | €707,737 | €837,807 | +€130,070 | +18.4% |
| Equity | 10/15 | €207,543 | €333,695 | +€126,152 | +60.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €187,543 | €313,695 | +€126,152 | +67.3% |
| Distributable reserves | 133 | €187,543 | €313,695 | +€126,152 | +67.3% |
| Amounts payable | 17/49 | €500,194 | €504,112 | +€3,918 | +0.8% |
| Amounts payable after more than one year | 17 | €440,695 | €424,219 | -€16,477 | -3.7% |
| Financial debts | 170/4 | €383,766 | €389,871 | +€6,105 | +1.6% |
| Other amounts payable | 178/9 | €56,929 | €34,348 | -€22,581 | -39.7% |
| Amounts payable within one year | 42/48 | €59,499 | €79,894 | +€20,395 | +34.3% |
| Current portion of amounts payable after more than one year | 42 | €57,828 | €68,875 | +€11,046 | +19.1% |
| Trade debts | 44 | €463 | €820 | +€357 | +77.0% |
| Suppliers | 440/4 | €463 | €820 | +€357 | +77.0% |
| Taxes, remuneration and social security | 45 | €1,207 | €10,199 | +€8,992 | +745.2% |
| Taxes | 450/3 | €1,207 | €10,199 | +€8,992 | +745.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,427 | €16,889 | +€1,462 | +9.5% |
| Other operating charges | 640/8 | €2,641 | €2,719 | +€79 | +3.0% |
| Gross operating margin | 9900 | €161,718 | €189,866 | +€28,148 | +17.4% |
| Operating profit (loss) | 9901 | €143,650 | €170,258 | +€26,608 | +18.5% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €7,106 | €7,421 | +€316 | +4.4% |
| Recurring financial charges | 65 | €7,106 | €7,421 | +€316 | +4.4% |
| Profit (loss) for the period before taxes | 9903 | €136,544 | €162,836 | +€26,292 | +19.3% |
| Income taxes | 67/77 | €28,038 | €36,685 | +€8,646 | +30.8% |
| Profit (loss) for the period | 9904 | €108,506 | €126,152 | +€17,646 | +16.3% |
| Profit (loss) for the period to be appropriated | 9905 | €108,506 | €126,152 | +€17,646 | +16.3% |
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 10 October 2026 via checked.be.