MTTS CONCEPT: 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.
MTTS CONCEPT
Largest movements
- Cash -€53,276
down €53,276 (-71.9%), from €74,109 to €20,833
mainly Net result for the year (-€122,990) and Investment in fixed assets (net) (-€24,489)
- Receivables within one year -€20,242
down €20,242 (-16.6%), from €121,915 to €101,673
of which Trade receivables: -€20,548
- Tangible fixed assets -€16,631
down €16,631 (-17.9%), from €92,947 to €76,316
of which Furniture and vehicles: -€35,233
- Stocks and contracts -€15,730
down €15,730 (-29.5%), from €53,280 to €37,550
of which Contracts in progress: -€13,880
- Intangible fixed assets +€5,874
new in 2025: €5,874
- Profit (loss) carried forward -€122,990
down €122,990, from €55,403 to -€67,588
- Trade debts +€30,821
up €30,821 (+48.4%), from €63,650 to €94,471
- Debts after one year -€22,456
down €22,456 (-33.9%), from €66,167 to €43,711
of which Other amounts payable: -€20,637
- Short-term financial debts +€10,000
up €10,000 (+25.0%), from €40,000 to €50,000
- Current portion of long-term debt +€5,361
up €5,361 (+31.7%), from €16,920 to €22,281
- Gross operating margin -€116,567
down €116,567 (-32.0%), from €364,079 to €247,511
- Depreciation +€7,438
up €7,438 (+26.7%), from €27,808 to €35,246
- Staff costs +€7,364
up €7,364 (+2.3%), from €313,435 to €320,798
- Financial charges -€4,752
down €4,752 (-35.5%), from €13,370 to €8,618
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 | €360,591 | €264,741 | -€95,849 | -26.6% |
| Fixed assets | 21/28 | €93,629 | €82,872 | -€10,757 | -11.5% |
| Intangible fixed assets | 21 | - | €5,874 | +€5,874 | |
| Tangible fixed assets | 22/27 | €92,947 | €76,316 | -€16,631 | -17.9% |
| Plant, machinery and equipment | 23 | €26,658 | €30,496 | +€3,838 | +14.4% |
| Furniture and vehicles | 24 | €43,647 | €8,414 | -€35,233 | -80.7% |
| Leasing and similar rights | 25 | €894 | €24,382 | +€23,488 | +2626.9% |
| Other tangible fixed assets | 26 | €21,748 | €13,024 | -€8,724 | -40.1% |
| Financial fixed assets | 28 | €682 | €682 | = | 0.0% |
| Current assets | 29/58 | €266,962 | €181,869 | -€85,093 | -31.9% |
| Stocks and contracts in progress | 3 | €53,280 | €37,550 | -€15,730 | -29.5% |
| Stocks | 30/36 | €12,000 | €10,150 | -€1,850 | -15.4% |
| Contracts in progress | 37 | €41,280 | €27,400 | -€13,880 | -33.6% |
| Amounts receivable within one year | 40/41 | €121,915 | €101,673 | -€20,242 | -16.6% |
| Trade receivables | 40 | €106,312 | €85,764 | -€20,548 | -19.3% |
| Other amounts receivable | 41 | €15,603 | €15,909 | +€306 | +2.0% |
| Cash at bank and in hand | 54/58 | €74,109 | €20,833 | -€53,276 | -71.9% |
| Deferred charges and accrued income | 490/1 | €17,658 | €21,813 | +€4,156 | +23.5% |
| Total equity and liabilities | 10/49 | €360,591 | €264,741 | -€95,849 | -26.6% |
| Equity | 10/15 | €102,629 | -€20,361 | -€122,990 | |
| Contributions | 10/11 | €44,406 | €44,406 | = | 0.0% |
| Reserves | 13 | €2,820 | €2,820 | = | 0.0% |
| Distributable reserves | 133 | €2,820 | €2,820 | = | 0.0% |
| Profit (loss) carried forward | 14 | €55,403 | -€67,588 | -€122,990 | |
| Amounts payable | 17/49 | €257,961 | €285,103 | +€27,141 | +10.5% |
| Amounts payable after more than one year | 17 | €66,167 | €43,711 | -€22,456 | -33.9% |
| Financial debts | 170/4 | €29,616 | €27,797 | -€1,819 | -6.1% |
| Other amounts payable | 178/9 | €36,551 | €15,914 | -€20,637 | -56.5% |
| Amounts payable within one year | 42/48 | €186,815 | €231,277 | +€44,462 | +23.8% |
| Current portion of amounts payable after more than one year | 42 | €16,920 | €22,281 | +€5,361 | +31.7% |
| Financial debts | 43 | €40,000 | €50,000 | +€10,000 | +25.0% |
| Credit institutions | 430/8 | €40,000 | €50,000 | +€10,000 | +25.0% |
| Trade debts | 44 | €63,650 | €94,471 | +€30,821 | +48.4% |
| Suppliers | 440/4 | €63,650 | €94,471 | +€30,821 | +48.4% |
| Advances received on contracts in progress | 46 | - | €1,030 | +€1,030 | |
| Taxes, remuneration and social security | 45 | €42,847 | €38,586 | -€4,261 | -9.9% |
| Taxes | 450/3 | €5,334 | €5,056 | -€278 | -5.2% |
| Remuneration and social security | 454/9 | €37,513 | €33,530 | -€3,983 | -10.6% |
| Other amounts payable | 47/48 | €23,398 | €24,908 | +€1,510 | +6.5% |
| Accrued charges and deferred income | 492/3 | €4,979 | €10,115 | +€5,136 | +103.1% |
| Non-recurring operating income | 76A | €1,285 | €1,601 | +€316 | +24.6% |
| Remuneration, social security and pensions | 62 | €313,435 | €320,798 | +€7,364 | +2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,808 | €35,246 | +€7,438 | +26.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €3,092 | +€3,092 | |
| Other operating charges | 640/8 | €5,980 | €6,123 | +€143 | +2.4% |
| Non-recurring operating charges | 66A | €1,691 | €223 | -€1,468 | -86.8% |
| Gross operating margin | 9900 | €364,079 | €247,511 | -€116,567 | -32.0% |
| Operating profit (loss) | 9901 | €15,165 | -€117,971 | -€133,136 | |
| Financial income | 75/76B | €738 | €2,651 | +€1,913 | +259.3% |
| Recurring financial income | 75 | €738 | €2,651 | +€1,913 | +259.3% |
| Financial charges | 65/66B | €13,370 | €8,618 | -€4,752 | -35.5% |
| Recurring financial charges | 65 | €13,370 | €8,618 | -€4,752 | -35.5% |
| Profit (loss) for the period before taxes | 9903 | €2,534 | -€123,938 | -€126,471 | |
| Income taxes | 67/77 | €985 | -€947 | -€1,932 | |
| Profit (loss) for the period | 9904 | €1,549 | -€122,990 | -€124,539 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,549 | -€122,990 | -€124,539 |
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 1 October 2026 via checked.be.