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
- Receivables within one year +€33,323
up €33,323 (+10.1%), from €330,965 to €364,287
of which Trade receivables: +€43,560
- Profit (loss) carried forward +€75,190
up €75,190 (+19.0%), from €396,700 to €471,890
- Other debts -€25,000
down €25,000 (-100%), from €25,000 to €0
- Gross operating margin +€13,350
up €13,350 (+102%), from €13,113 to €26,463
- Taxes +€4,746
up €4,746 (+283%), from €1,677 to €6,424
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 | €2,270,380 | €2,318,398 | +€48,018 | +2.1% |
| Fixed assets | 21/28 | €1,861,038 | €1,863,521 | +€2,482 | +0.1% |
| Tangible fixed assets | 22/27 | €32,288 | €34,771 | +€2,482 | +7.7% |
| Furniture and vehicles | 24 | €9,539 | €8,418 | -€1,121 | -11.8% |
| Other tangible fixed assets | 26 | €22,749 | €26,353 | +€3,604 | +15.8% |
| Financial fixed assets | 28 | €1,828,750 | €1,828,750 | = | 0.0% |
| Current assets | 29/58 | €409,342 | €454,877 | +€45,535 | +11.1% |
| Amounts receivable within one year | 40/41 | €330,965 | €364,287 | +€33,323 | +10.1% |
| Trade receivables | 40 | €48,080 | €91,640 | +€43,560 | +90.6% |
| Other amounts receivable | 41 | €282,885 | €272,647 | -€10,237 | -3.6% |
| Cash at bank and in hand | 54/58 | €74,389 | €86,541 | +€12,153 | +16.3% |
| Deferred charges and accrued income | 490/1 | €3,988 | €4,048 | +€60 | +1.5% |
| Total equity and liabilities | 10/49 | €2,270,380 | €2,318,398 | +€48,018 | +2.1% |
| Equity | 10/15 | €2,229,879 | €2,305,069 | +€75,190 | +3.4% |
| Contributions | 10/11 | €1,828,750 | €1,828,750 | = | 0.0% |
| Reserves | 13 | €4,429 | €4,429 | = | 0.0% |
| Distributable reserves | 133 | €4,429 | €4,429 | = | 0.0% |
| Profit (loss) carried forward | 14 | €396,700 | €471,890 | +€75,190 | +19.0% |
| Amounts payable | 17/49 | €40,501 | €13,329 | -€27,173 | -67.1% |
| Amounts payable within one year | 42/48 | €40,501 | €13,329 | -€27,173 | -67.1% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €6,556 | €2,738 | -€3,818 | -58.2% |
| Suppliers | 440/4 | €6,556 | €2,738 | -€3,818 | -58.2% |
| Taxes, remuneration and social security | 45 | €8,945 | €10,591 | +€1,645 | +18.4% |
| Taxes | 450/3 | €8,945 | €10,591 | +€1,645 | +18.4% |
| Other amounts payable | 47/48 | €25,000 | €0 | -€25,000 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,909 | €7,966 | +€57 | +0.7% |
| Other operating charges | 640/8 | €1,288 | €1,330 | +€42 | +3.2% |
| Gross operating margin | 9900 | €13,113 | €26,463 | +€13,350 | +102% |
| Operating profit (loss) | 9901 | €3,916 | €17,168 | +€13,252 | +338% |
| Financial income | 75/76B | €64,697 | €64,539 | -€158 | -0.2% |
| Recurring financial income | 75 | €64,697 | €64,539 | -€158 | -0.2% |
| Financial charges | 65/66B | €122 | €93 | -€29 | -23.8% |
| Recurring financial charges | 65 | €122 | €93 | -€29 | -23.8% |
| Profit (loss) for the period before taxes | 9903 | €68,491 | €81,614 | +€13,123 | +19.2% |
| Income taxes | 67/77 | €1,677 | €6,424 | +€4,746 | +283% |
| Profit (loss) for the period | 9904 | €66,813 | €75,190 | +€8,377 | +12.5% |
| Profit (loss) for the period to be appropriated | 9905 | €66,813 | €75,190 | +€8,377 | +12.5% |
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 20 October 2026 via checked.be.