MTVC: 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.
MTVC
Largest movements
- Tangible fixed assets +€138,671
up €138,671 (+2.5%), from €5.5m to €5.6m
of which Land and buildings: +€147,426
- Current portion of long-term debt +€233,832
up €233,832 (+151.4%), from €154,468 to €388,300
- Debts after one year -€128,300
down €128,300 (-2.7%), from €4.8m to €4.7m
- Other debts +€101,420
up €101,420 (+17.8%), from €569,819 to €671,239
- Profit (loss) carried forward -€59,757
down €59,757 (-74.0%), from -€80,701 to -€140,458
- Other operating charges +€26,973
up €26,973 (+118.2%), from €22,817 to €49,790
- Financial charges +€18,077
up €18,077 (+29.7%), from €60,847 to €78,924
- Depreciation +€10,860
up €10,860 (+7.7%), from €140,486 to €151,345
- Gross operating margin -€7,423
down €7,423 (-3.3%), from €227,961 to €220,537
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 | €5,533,504 | €5,672,372 | +€138,867 | +2.5% |
| Fixed assets | 21/28 | €5,522,924 | €5,641,845 | +€118,921 | +2.2% |
| Tangible fixed assets | 22/27 | €5,503,174 | €5,641,845 | +€138,671 | +2.5% |
| Land and buildings | 22 | €5,478,537 | €5,625,963 | +€147,426 | +2.7% |
| Plant, machinery and equipment | 23 | €1,229 | €2,074 | +€845 | +68.7% |
| Furniture and vehicles | 24 | €23,408 | €13,808 | -€9,600 | -41.0% |
| Financial fixed assets | 28 | €19,750 | - | -€19,750 | |
| Current assets | 29/58 | €10,580 | €30,527 | +€19,947 | +188.5% |
| Amounts receivable within one year | 40/41 | €57 | €16,836 | +€16,779 | +29655.5% |
| Trade receivables | 40 | - | €16,620 | +€16,620 | |
| Other amounts receivable | 41 | €57 | €216 | +€159 | +281.2% |
| Cash at bank and in hand | 54/58 | €8,082 | €8,416 | +€334 | +4.1% |
| Deferred charges and accrued income | 490/1 | €2,442 | €5,275 | +€2,833 | +116.0% |
| Total equity and liabilities | 10/49 | €5,533,504 | €5,672,372 | +€138,867 | +2.5% |
| Equity | 10/15 | -€55,701 | -€115,458 | -€59,757 | -107.3% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€80,701 | -€140,458 | -€59,757 | -74.0% |
| Amounts payable | 17/49 | €5,589,206 | €5,787,830 | +€198,624 | +3.6% |
| Amounts payable after more than one year | 17 | €4,839,693 | €4,711,393 | -€128,300 | -2.7% |
| Financial debts | 170/4 | €4,839,693 | €4,711,393 | -€128,300 | -2.7% |
| Amounts payable within one year | 42/48 | €734,705 | €1,061,629 | +€326,924 | +44.5% |
| Current portion of amounts payable after more than one year | 42 | €154,468 | €388,300 | +€233,832 | +151.4% |
| Trade debts | 44 | €10,317 | €2,090 | -€8,227 | -79.7% |
| Suppliers | 440/4 | €10,317 | €2,090 | -€8,227 | -79.7% |
| Taxes, remuneration and social security | 45 | €100 | - | -€100 | |
| Taxes | 450/3 | €100 | - | -€100 | |
| Other amounts payable | 47/48 | €569,819 | €671,239 | +€101,420 | +17.8% |
| Accrued charges and deferred income | 492/3 | €14,808 | €14,808 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €140,486 | €151,345 | +€10,860 | +7.7% |
| Other operating charges | 640/8 | €22,817 | €49,790 | +€26,973 | +118.2% |
| Gross operating margin | 9900 | €227,961 | €220,537 | -€7,423 | -3.3% |
| Operating profit (loss) | 9901 | €64,659 | €19,402 | -€45,257 | -70.0% |
| Financial income | 75/76B | €0 | €49 | +€49 | +61500.0% |
| Recurring financial income | 75 | €0 | €49 | +€49 | +61500.0% |
| Financial charges | 65/66B | €60,847 | €78,924 | +€18,077 | +29.7% |
| Recurring financial charges | 65 | €60,847 | €78,924 | +€18,077 | +29.7% |
| Profit (loss) for the period before taxes | 9903 | €3,812 | -€59,473 | -€63,285 | |
| Income taxes | 67/77 | €293 | €284 | -€9 | -3.1% |
| Profit (loss) for the period | 9904 | €3,519 | -€59,757 | -€63,275 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,519 | -€59,757 | -€63,275 |
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 11 October 2026 via checked.be.