MTS: what changed
Two fiscal 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
- Tangible fixed assets +€21,200
up €21,200 (+39.1%), from €54,155 to €75,355
of which Furniture and vehicles: +€21,200
- Receivables within one year -€9,234
down €9,234 (-12.8%), from €71,963 to €62,730
of which Trade receivables: -€5,992
- Cash -€5,969
down €5,969 (-60.7%), from €9,839 to €3,870
mainly Investment in fixed assets (net) (-€36,693) and Other debts (-€23,866)
- Reserves +€29,587
up €29,587 (+11.3%), from €260,871 to €290,459
of which Distributable reserves: +€29,587
- Other debts -€23,866
down €23,866 (-13.4%), from €178,157 to €154,291
- Tax, wage and social debts -€4,926
down €4,926 (-64.6%), from €7,627 to €2,701
- Gross operating margin +€16,866
up €16,866 (+38.2%), from €44,135 to €61,001
- Depreciation +€4,140
up €4,140 (+36.5%), from €11,354 to €15,493
- Taxes +€2,075
up €2,075 (+35.6%), from €5,832 to €7,908
- Financial charges +€2,058
up €2,058 (+27.8%), from €7,414 to €9,473
- Financial income +€1,509
up €1,509 (+50.2%), from €3,004 to €4,513
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 | €461,883 | €464,189 | +€2,306 | +0.5% |
| Fixed assets | 21/28 | €370,672 | €391,872 | +€21,200 | +5.7% |
| Tangible fixed assets | 22/27 | €54,155 | €75,355 | +€21,200 | +39.1% |
| Furniture and vehicles | 24 | €53,855 | €75,055 | +€21,200 | +39.4% |
| Other tangible fixed assets | 26 | €300 | €300 | = | 0.0% |
| Financial fixed assets | 28 | €316,517 | €316,517 | = | 0.0% |
| Current assets | 29/58 | €91,211 | €72,318 | -€18,894 | -20.7% |
| Amounts receivable within one year | 40/41 | €71,963 | €62,730 | -€9,234 | -12.8% |
| Trade receivables | 40 | €21,294 | €15,303 | -€5,992 | -28.1% |
| Other amounts receivable | 41 | €50,669 | €47,427 | -€3,242 | -6.4% |
| Cash at bank and in hand | 54/58 | €9,839 | €3,870 | -€5,969 | -60.7% |
| Deferred charges and accrued income | 490/1 | €9,409 | €5,718 | -€3,691 | -39.2% |
| Total equity and liabilities | 10/49 | €461,883 | €464,189 | +€2,306 | +0.5% |
| Equity | 10/15 | €267,071 | €296,659 | +€29,587 | +11.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €260,871 | €290,459 | +€29,587 | +11.3% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €260,871 | €290,459 | +€29,587 | +11.3% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €194,812 | €167,531 | -€27,281 | -14.0% |
| Amounts payable within one year | 42/48 | €187,577 | €158,258 | -€29,319 | -15.6% |
| Trade debts | 44 | €1,793 | €1,266 | -€527 | -29.4% |
| Suppliers | 440/4 | €1,793 | €1,266 | -€527 | -29.4% |
| Taxes, remuneration and social security | 45 | €7,627 | €2,701 | -€4,926 | -64.6% |
| Taxes | 450/3 | €7,627 | €2,701 | -€4,926 | -64.6% |
| Other amounts payable | 47/48 | €178,157 | €154,291 | -€23,866 | -13.4% |
| Accrued charges and deferred income | 492/3 | €7,235 | €9,272 | +€2,037 | +28.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,354 | €15,493 | +€4,140 | +36.5% |
| Other operating charges | 640/8 | €888 | €1,052 | +€164 | +18.4% |
| Gross operating margin | 9900 | €44,135 | €61,001 | +€16,866 | +38.2% |
| Operating profit (loss) | 9901 | €31,893 | €44,455 | +€12,562 | +39.4% |
| Financial income | 75/76B | €3,004 | €4,513 | +€1,509 | +50.2% |
| Recurring financial income | 75 | €3,004 | €4,513 | +€1,509 | +50.2% |
| Financial charges | 65/66B | €7,414 | €9,473 | +€2,058 | +27.8% |
| Recurring financial charges | 65 | €7,414 | €9,473 | +€2,058 | +27.8% |
| Profit (loss) for the period before taxes | 9903 | €27,482 | €39,495 | +€12,013 | +43.7% |
| Income taxes | 67/77 | €5,832 | €7,908 | +€2,075 | +35.6% |
| Profit (loss) for the period | 9904 | €21,650 | €31,587 | +€9,938 | +45.9% |
| Profit (loss) for the period to be appropriated | 9905 | €21,650 | €31,587 | +€9,938 | +45.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.