MTS LOGISTICS: what changed
MTS LOGISTICS
Largest movements
- Tangible fixed assets -€81,202
down €81,202 (-20.8%), from €391,279 to €310,077
of which Leasing and similar rights: -€67,885
- Receivables within one year -€20,780
down €20,780 (-11.9%), from €174,794 to €154,014
of which Trade receivables: -€20,691
- Cash +€18,803
up €18,803 (+56.0%), from €33,572 to €52,375
mainly Depreciation (+€69,559) and Net result for the year (+€37,166)
- Deferred charges and accrued income -€18,004
down €18,004 (-74.4%), from €24,212 to €6,209
- Stocks and contracts +€9,231
new in 2025: €9,231
- Debts after one year -€145,304
down €145,304 (-55.5%), from €261,640 to €116,336
- Trade debts -€39,140
down €39,140 (-13.7%), from €285,257 to €246,116
- Profit (loss) carried forward +€37,166
up €37,166 (+19.3%), from -€193,062 to -€155,896
- Current portion of long-term debt +€35,556
up €35,556 (+57.0%), from €62,328 to €97,884
- Tax, wage and social debts +€17,203
up €17,203 (+18.6%), from €92,619 to €109,823
of which Remuneration and social security: +€18,984
- Gross operating margin +€436,581
up €436,581 (+54.4%), from €802,415 to €1.2m
- Staff costs +€236,309
up €236,309 (+27.4%), from €863,235 to €1.1m
- Financial charges -€21,895
down €21,895 (-58.7%), from €37,278 to €15,383
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €623,857 | €531,905 | -€91,951 | -14.7% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €391,279 | €310,077 | -€81,202 | -20.8% |
| Tangible fixed assets | 22/27 | €391,279 | €310,077 | -€81,202 | -20.8% |
| Furniture and vehicles | 24 | €19,630 | €6,313 | -€13,317 | -67.8% |
| Leasing and similar rights | 25 | €371,649 | €303,764 | -€67,885 | -18.3% |
| Current assets | 29/58 | €232,577 | €221,828 | -€10,749 | -4.6% |
| Stocks and contracts in progress | 3 | - | €9,231 | +€9,231 | |
| Stocks | 30/36 | - | €9,231 | +€9,231 | |
| Amounts receivable within one year | 40/41 | €174,794 | €154,014 | -€20,780 | -11.9% |
| Trade receivables | 40 | €151,343 | €130,652 | -€20,691 | -13.7% |
| Other amounts receivable | 41 | €23,450 | €23,362 | -€89 | -0.4% |
| Cash at bank and in hand | 54/58 | €33,572 | €52,375 | +€18,803 | +56.0% |
| Deferred charges and accrued income | 490/1 | €24,212 | €6,209 | -€18,004 | -74.4% |
| Total equity and liabilities | 10/49 | €623,857 | €531,905 | -€91,951 | -14.7% |
| Equity | 10/15 | -€168,062 | -€130,896 | +€37,166 | +22.1% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€193,062 | -€155,896 | +€37,166 | +19.3% |
| Amounts payable | 17/49 | €791,919 | €662,801 | -€129,117 | -16.3% |
| Amounts payable after more than one year | 17 | €261,640 | €116,336 | -€145,304 | -55.5% |
| Financial debts | 170/4 | €261,640 | €116,336 | -€145,304 | -55.5% |
| Amounts payable within one year | 42/48 | €530,279 | €546,465 | +€16,186 | +3.1% |
| Current portion of amounts payable after more than one year | 42 | €62,328 | €97,884 | +€35,556 | +57.0% |
| Financial debts | 43 | €90,075 | €92,643 | +€2,568 | +2.9% |
| Credit institutions | 430/8 | €90,075 | €92,643 | +€2,568 | +2.9% |
| Trade debts | 44 | €285,257 | €246,116 | -€39,140 | -13.7% |
| Suppliers | 440/4 | €285,257 | €246,116 | -€39,140 | -13.7% |
| Taxes, remuneration and social security | 45 | €92,619 | €109,823 | +€17,203 | +18.6% |
| Taxes | 450/3 | €1,784 | €4 | -€1,780 | -99.8% |
| Remuneration and social security | 454/9 | €90,835 | €109,819 | +€18,984 | +20.9% |
| Non-recurring operating income | 76A | - | €12,656 | +€12,656 | |
| Remuneration, social security and pensions | 62 | €863,235 | €1,099,544 | +€236,309 | +27.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €71,571 | €69,559 | -€2,012 | -2.8% |
| Other operating charges | 640/8 | €11,067 | €18,498 | +€7,431 | +67.1% |
| Non-recurring operating charges | 66A | - | €783 | +€783 | |
| Gross operating margin | 9900 | €802,415 | €1,238,996 | +€436,581 | +54.4% |
| Operating profit (loss) | 9901 | -€143,458 | €50,612 | +€194,070 | |
| Financial income | 75/76B | €0 | €157 | +€157 | |
| Recurring financial income | 75 | €0 | €157 | +€157 | |
| Financial charges | 65/66B | €37,278 | €15,383 | -€21,895 | -58.7% |
| Recurring financial charges | 65 | €37,278 | €15,383 | -€21,895 | -58.7% |
| Profit (loss) for the period before taxes | 9903 | -€180,737 | €35,386 | +€216,123 | |
| Income taxes | 67/77 | - | -€1,780 | -€1,780 | |
| Profit (loss) for the period | 9904 | -€180,737 | €37,166 | +€217,903 | |
| Profit (loss) for the period to be appropriated | 9905 | -€180,737 | €37,166 | +€217,903 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.