MTW TRANS: 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.
What changed
MTW TRANS
NACE 49.410, Freight transport by road
financial year 2026 compared with 2025filed annual accounts (NBB)
Net result for the year
€62,960
2025 · €40,312+€22,648
Equity
€252,801
2025 · €213,410+€39,391
Cash
€183,122
2025 · €181,098+€2,025
Balance sheet total
€377,132
2025 · €240,712+€136,420
Largest movements
Assets
- Tangible fixed assets +€129,806
up €129,806 (+833%), from €15,578 to €145,384
Equity and liabilities
- Debts after one year +€76,911
up €76,911 (+4,001%), from €1,922 to €78,833
- Reserves +€39,391
up €39,391 (+19.6%), from €201,010 to €240,401
- Current portion of long-term debt +€18,175
up €18,175 (+316%), from €5,747 to €23,922
Income statement
- Gross operating margin +€37,505
up €37,505 (+51.0%), from €73,608 to €111,112
- Depreciation +€7,974
up €7,974 (+74.3%), from €10,736 to €18,710
- Taxes +€4,987
up €4,987 (+30.9%), from €16,149 to €21,136
- Financial charges +€1,431
up €1,431 (+367%), from €390 to €1,821
From the 2025 result to the 2026 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.
Result 2025
€40,312
Gross operating margin
+€37,505
Depreciation
-€7,974
Other operating charges
-€626
Financial income
+€160
Financial charges
-€1,431
Taxes
-€4,987
Result 2026
€62,960
raises the resultlowers the result
Derived cash bridge
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€79,024
Investment
-€148,517
Financing
+€71,517
Cash 2025
€181,098
From operations (derived)
+€79,024
Net result for the year
+€62,960
Depreciation
+€18,710
Receivables within one year
-€2,498
Deferred charges and accrued income
-€2,091
Trade debts
+€2,456
Tax, wage and social debts
-€1,835
Other debts
+€1,322
Investment (derived)
-€148,517
Investment in fixed assets (net)
-€148,517
Financing
+€71,517
Debts after one year
+€76,911
Current portion of long-term debt
+€18,175
Contributions, distributions and other
-€23,569
Cash 2026
€183,122
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €240,712 | €377,132 | +€136,420 | +56.7% |
| Fixed assets | 21/28 | €15,618 | €145,424 | +€129,806 | +831% |
| Tangible fixed assets | 22/27 | €15,578 | €145,384 | +€129,806 | +833% |
| Furniture and vehicles | 24 | €15,578 | €145,384 | +€129,806 | +833% |
| Financial fixed assets | 28 | €40 | €40 | = | 0.0% |
| Current assets | 29/58 | €225,094 | €231,708 | +€6,614 | +2.9% |
| Amounts receivable after more than one year | 29 | €15,000 | €15,000 | = | 0.0% |
| Other amounts receivable | 291 | €15,000 | €15,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €20,462 | €22,960 | +€2,498 | +12.2% |
| Trade receivables | 40 | €20,462 | €21,460 | +€998 | +4.9% |
| Other amounts receivable | 41 | - | €1,500 | +€1,500 | |
| Cash at bank and in hand | 54/58 | €181,098 | €183,122 | +€2,025 | +1.1% |
| Deferred charges and accrued income | 490/1 | €8,534 | €10,626 | +€2,091 | +24.5% |
| Total equity and liabilities | 10/49 | €240,712 | €377,132 | +€136,420 | +56.7% |
| Equity | 10/15 | €213,410 | €252,801 | +€39,391 | +18.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €201,010 | €240,401 | +€39,391 | +19.6% |
| Distributable reserves | 133 | €201,010 | €240,401 | +€39,391 | +19.6% |
| Amounts payable | 17/49 | €27,302 | €124,331 | +€97,030 | +355% |
| Amounts payable after more than one year | 17 | €1,922 | €78,833 | +€76,911 | +4,001% |
| Financial debts | 170/4 | €1,922 | €78,833 | +€76,911 | +4,001% |
| Amounts payable within one year | 42/48 | €25,380 | €45,498 | +€20,118 | +79.3% |
| Current portion of amounts payable after more than one year | 42 | €5,747 | €23,922 | +€18,175 | +316% |
| Trade debts | 44 | €1,921 | €4,377 | +€2,456 | +128% |
| Suppliers | 440/4 | €1,921 | €4,377 | +€2,456 | +128% |
| Taxes, remuneration and social security | 45 | €11,816 | €9,981 | -€1,835 | -15.5% |
| Taxes | 450/3 | €9,466 | €7,577 | -€1,889 | -20.0% |
| Remuneration and social security | 454/9 | €2,350 | €2,404 | +€54 | +2.3% |
| Other amounts payable | 47/48 | €5,896 | €7,218 | +€1,322 | +22.4% |
| Non-recurring operating income | 76A | - | €33,707 | +€33,707 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,736 | €18,710 | +€7,974 | +74.3% |
| Other operating charges | 640/8 | €6,057 | €6,683 | +€626 | +10.3% |
| Gross operating margin | 9900 | €73,608 | €111,112 | +€37,505 | +51.0% |
| Operating profit (loss) | 9901 | €56,814 | €85,719 | +€28,905 | +50.9% |
| Financial income | 75/76B | €38 | €197 | +€160 | +427% |
| Recurring financial income | 75 | €38 | €197 | +€160 | +427% |
| Financial charges | 65/66B | €390 | €1,821 | +€1,431 | +367% |
| Recurring financial charges | 65 | €390 | €1,821 | +€1,431 | +367% |
| Profit (loss) for the period before taxes | 9903 | €56,461 | €84,096 | +€27,635 | +48.9% |
| Income taxes | 67/77 | €16,149 | €21,136 | +€4,987 | +30.9% |
| Profit (loss) for the period | 9904 | €40,312 | €62,960 | +€22,648 | +56.2% |
| Profit (loss) for the period to be appropriated | 9905 | €40,312 | €62,960 | +€22,648 | +56.2% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.