MTS GLOBAL: 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 GLOBAL
Largest movements
- Stocks and contracts +€494,434
up €494,434 (+66.9%), from €738,954 to €1.2m
- Receivables within one year -€408,899
down €408,899 (-90.9%), from €449,830 to €40,931
of which Trade receivables: -€432,330
- Tangible fixed assets +€33,370
up €33,370 (+199.9%), from €16,695 to €50,065
of which Furniture and vehicles: +€20,106
- Cash +€29,554
up €29,554 (+182.4%), from €16,206 to €45,760
mainly Receivables within one year (+€408,899) and Short-term financial debts (+€184,813)
- Short-term financial debts +€184,813
up €184,813 (+73.9%), from €250,000 to €434,813
- Tax, wage and social debts -€92,806
down €92,806 (-38.1%), from €243,649 to €150,843
of which Taxes: -€104,071
- Trade debts +€62,362
up €62,362 (+241.9%), from €25,782 to €88,145
- Profit (loss) carried forward -€61,704
down €61,704, from €2,964 to -€58,740
- Other debts +€41,409
up €41,409 (+21532.5%), from €192 to €41,601
- Gross operating margin -€378,953
down €378,953 (-76.1%), from €497,818 to €118,865
- Taxes -€139,096
down €139,096 (-99.9%), from €139,251 to €154
- Staff costs +€53,000
up €53,000 (+164.1%), from €32,305 to €85,306
- Financial charges +€40,169
up €40,169 (+138.8%), from €28,943 to €69,112
- Provisions -€14,852
down €14,852 (-48.1%), from €30,853 to €16,001
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 | €1,235,169 | €1,384,476 | +€149,307 | +12.1% |
| Fixed assets | 21/28 | €24,695 | €58,065 | +€33,370 | +135.1% |
| Tangible fixed assets | 22/27 | €16,695 | €50,065 | +€33,370 | +199.9% |
| Plant, machinery and equipment | 23 | €5,317 | €18,581 | +€13,264 | +249.5% |
| Furniture and vehicles | 24 | €11,378 | €31,484 | +€20,106 | +176.7% |
| Financial fixed assets | 28 | €8,000 | €8,000 | = | 0.0% |
| Current assets | 29/58 | €1,210,474 | €1,326,411 | +€115,937 | +9.6% |
| Stocks and contracts in progress | 3 | €738,954 | €1,233,388 | +€494,434 | +66.9% |
| Stocks | 30/36 | €738,954 | €1,233,388 | +€494,434 | +66.9% |
| Amounts receivable within one year | 40/41 | €449,830 | €40,931 | -€408,899 | -90.9% |
| Trade receivables | 40 | €433,717 | €1,387 | -€432,330 | -99.7% |
| Other amounts receivable | 41 | €16,114 | €39,544 | +€23,431 | +145.4% |
| Cash at bank and in hand | 54/58 | €16,206 | €45,760 | +€29,554 | +182.4% |
| Deferred charges and accrued income | 490/1 | €5,484 | €6,332 | +€849 | +15.5% |
| Total equity and liabilities | 10/49 | €1,235,169 | €1,384,476 | +€149,307 | +12.1% |
| Equity | 10/15 | €683,924 | €622,220 | -€61,704 | -9.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €674,760 | €674,760 | = | 0.0% |
| Distributable reserves | 133 | €674,760 | €674,760 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,964 | -€58,740 | -€61,704 | |
| Provisions and deferred taxes | 16 | €30,853 | €46,854 | +€16,001 | +51.9% |
| Provisions for liabilities and charges | 160/5 | €30,853 | €46,854 | +€16,001 | +51.9% |
| Other liabilities and charges | 164/5 | €30,853 | €46,854 | +€16,001 | +51.9% |
| Amounts payable | 17/49 | €520,393 | €715,403 | +€195,010 | +37.5% |
| Amounts payable within one year | 42/48 | €519,624 | €715,403 | +€195,779 | +37.7% |
| Financial debts | 43 | €250,000 | €434,813 | +€184,813 | +73.9% |
| Credit institutions | 430/8 | €250,000 | €434,813 | +€184,813 | +73.9% |
| Trade debts | 44 | €25,782 | €88,145 | +€62,362 | +241.9% |
| Suppliers | 440/4 | €25,782 | €88,145 | +€62,362 | +241.9% |
| Taxes, remuneration and social security | 45 | €243,649 | €150,843 | -€92,806 | -38.1% |
| Taxes | 450/3 | €237,688 | €133,617 | -€104,071 | -43.8% |
| Remuneration and social security | 454/9 | €5,961 | €17,226 | +€11,265 | +189.0% |
| Other amounts payable | 47/48 | €192 | €41,601 | +€41,409 | +21532.5% |
| Accrued charges and deferred income | 492/3 | €769 | - | -€769 | |
| Remuneration, social security and pensions | 62 | €32,305 | €85,306 | +€53,000 | +164.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,046 | €9,069 | -€9,978 | -52.4% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €30,853 | €16,001 | -€14,852 | -48.1% |
| Other operating charges | 640/8 | €3,307 | €928 | -€2,379 | -71.9% |
| Gross operating margin | 9900 | €497,818 | €118,865 | -€378,953 | -76.1% |
| Operating profit (loss) | 9901 | €412,307 | €7,563 | -€404,744 | -98.2% |
| Financial charges | 65/66B | €28,943 | €69,112 | +€40,169 | +138.8% |
| Recurring financial charges | 65 | €28,943 | €69,112 | +€40,169 | +138.8% |
| Profit (loss) for the period before taxes | 9903 | €383,364 | -€61,549 | -€444,913 | |
| Income taxes | 67/77 | €139,251 | €154 | -€139,096 | -99.9% |
| Profit (loss) for the period | 9904 | €244,113 | -€61,704 | -€305,817 | |
| Profit (loss) for the period to be appropriated | 9905 | €244,113 | -€61,704 | -€305,817 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.