MTS: 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.
MTS
Largest movements
- Cash -€19,816
down €19,816 (-51.2%), from €38,699 to €18,883
mainly Net result for the year (-€45,577) and Debts after one year (-€4,042)
- Receivables within one year -€18,530
down €18,530 (-27.9%), from €66,406 to €47,875
of which Trade receivables: -€18,551
- Tangible fixed assets -€7,339
down €7,339 (-5.4%), from €135,705 to €128,366
of which Furniture and vehicles: -€3,700
- Profit (loss) carried forward -€45,577
down €45,577 (-29.0%), from €157,432 to €111,855
- Debts after one year -€4,042
down €4,042 (-12.6%), from €32,000 to €27,958
- Financial income -€71,168
down €71,168 (-100.0%), from €71,177 to €9
of which Non-recurring financial income: -€71,157
- Gross operating margin -€10,043
down €10,043 (-41.9%), from -€23,962 to -€34,006
- Depreciation +€3,717
up €3,717 (+102.6%), from €3,622 to €7,339
- Taxes -€3,332
down €3,332 (-77.8%), from €4,282 to €950
- Financial charges -€2,375
down €2,375 (-48.7%), from €4,882 to €2,507
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 | €286,206 | €239,648 | -€46,558 | -16.3% |
| Fixed assets | 21/28 | €135,705 | €128,366 | -€7,339 | -5.4% |
| Tangible fixed assets | 22/27 | €135,705 | €128,366 | -€7,339 | -5.4% |
| Land and buildings | 22 | €119,941 | €116,341 | -€3,600 | -3.0% |
| Plant, machinery and equipment | 23 | €39 | - | -€39 | |
| Furniture and vehicles | 24 | €15,725 | €12,025 | -€3,700 | -23.5% |
| Current assets | 29/58 | €150,501 | €111,282 | -€39,219 | -26.1% |
| Stocks and contracts in progress | 3 | €43,612 | €44,523 | +€911 | +2.1% |
| Stocks | 30/36 | €43,612 | €44,523 | +€911 | +2.1% |
| Amounts receivable within one year | 40/41 | €66,406 | €47,875 | -€18,530 | -27.9% |
| Trade receivables | 40 | €66,406 | €47,855 | -€18,551 | -27.9% |
| Other amounts receivable | 41 | - | €20 | +€20 | |
| Cash at bank and in hand | 54/58 | €38,699 | €18,883 | -€19,816 | -51.2% |
| Deferred charges and accrued income | 490/1 | €1,784 | - | -€1,784 | |
| Total equity and liabilities | 10/49 | €286,206 | €239,648 | -€46,558 | -16.3% |
| Equity | 10/15 | €172,934 | €127,358 | -€45,577 | -26.4% |
| Contributions | 10/11 | €13,642 | €13,642 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €157,432 | €111,855 | -€45,577 | -29.0% |
| Amounts payable | 17/49 | €113,272 | €112,290 | -€982 | -0.9% |
| Amounts payable after more than one year | 17 | €32,000 | €27,958 | -€4,042 | -12.6% |
| Financial debts | 170/4 | €32,000 | €27,958 | -€4,042 | -12.6% |
| Amounts payable within one year | 42/48 | €81,272 | €84,333 | +€3,061 | +3.8% |
| Current portion of amounts payable after more than one year | 42 | - | €2,721 | +€2,721 | |
| Trade debts | 44 | €31,931 | €34,451 | +€2,520 | +7.9% |
| Suppliers | 440/4 | €31,931 | €34,451 | +€2,520 | +7.9% |
| Taxes, remuneration and social security | 45 | €14,407 | €12,046 | -€2,361 | -16.4% |
| Taxes | 450/3 | €14,407 | €12,046 | -€2,361 | -16.4% |
| Other amounts payable | 47/48 | €34,933 | €35,114 | +€181 | +0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,622 | €7,339 | +€3,717 | +102.6% |
| Other operating charges | 640/8 | €1,433 | €784 | -€649 | -45.3% |
| Gross operating margin | 9900 | -€23,962 | -€34,006 | -€10,043 | -41.9% |
| Operating profit (loss) | 9901 | -€29,017 | -€42,129 | -€13,112 | -45.2% |
| Financial income | 75/76B | €71,177 | €9 | -€71,168 | -100.0% |
| Recurring financial income | 75 | €20 | €9 | -€11 | -56.0% |
| Non-recurring financial income | 76B | €71,157 | - | -€71,157 | |
| Financial charges | 65/66B | €4,882 | €2,507 | -€2,375 | -48.7% |
| Recurring financial charges | 65 | €4,882 | €2,507 | -€2,375 | -48.7% |
| Profit (loss) for the period before taxes | 9903 | €37,278 | -€44,627 | -€81,905 | |
| Income taxes | 67/77 | €4,282 | €950 | -€3,332 | -77.8% |
| Profit (loss) for the period | 9904 | €32,996 | -€45,577 | -€78,572 | |
| Profit (loss) for the period to be appropriated | 9905 | €32,996 | -€45,577 | -€78,572 |
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.