MTZ CONSTRUCT: 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.
What changed
MTZ CONSTRUCT
NACE 25.530, Machining of metals
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€358,805
2024 · -€373,573+€732,379
Equity
€1.2m
2024 · €803,072+€358,805
Cash
€234,534
2024 · €284,294-€49,760
Balance sheet total
€3.5m
2024 · €3.4m+€134,304
Largest movements
Assets
- Receivables within one year +€327,561
up €327,561 (+48.2%), from €680,282 to €1.0m
of which Trade receivables: +€401,469
- Stocks and contracts -€156,121
down €156,121 (-34.3%), from €455,704 to €299,583
of which Contracts in progress: -€231,553
- Cash -€49,760
down €49,760 (-17.5%), from €284,294 to €234,534
mainly Receivables within one year (-€327,561) and Investment in fixed assets (net) (-€302,688)
Equity and liabilities
- Profit (loss) carried forward +€358,805
up €358,805 (+96.0%), from -€373,573 to -€14,768
- Trade debts -€181,676
down €181,676 (-32.3%), from €561,997 to €380,321
Income statement
- Gross operating margin +€757,120
up €757,120 (+127.3%), from €594,598 to €1.4m
- Depreciation +€40,583
up €40,583 (+16.3%), from €248,930 to €289,514
- Financial charges -€16,937
down €16,937 (-19.5%), from €86,661 to €69,724
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.
Result 2024
-€373,573
Gross operating margin
+€757,120
Staff costs
+€1,785
Depreciation
-€40,583
Other operating charges
-€1,970
Financial income
-€954
Financial charges
+€16,937
Taxes
+€43
Result 2025
€358,805
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.
From operations
+€266,830
Investment
-€302,688
Financing
-€13,902
Cash 2024
€284,294
From operations (derived)
+€266,830
Net result for the year
+€358,805
Depreciation
+€289,514
Stocks and contracts
+€156,121
Receivables within one year
-€327,561
Deferred charges and accrued income
+€550
Trade debts
-€181,676
Tax, wage and social debts
-€3,038
Accrued charges and deferred income
-€25,886
Investment (derived)
-€302,688
Investment in fixed assets (net)
-€302,688
Financing
-€13,902
Debts after one year
-€26,139
Current portion of long-term debt
-€8,810
Short-term financial debts
+€21,048
Cash 2025
€234,534
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,368,230 | €3,502,534 | +€134,304 | +4.0% |
| Formation expenses | 20 | €57,452 | €53,852 | -€3,600 | -6.3% |
| Fixed assets | 21/28 | €1,853,644 | €1,870,418 | +€16,774 | +0.9% |
| Intangible fixed assets | 21 | €14,276 | €10,528 | -€3,749 | -26.3% |
| Tangible fixed assets | 22/27 | €1,826,177 | €1,842,200 | +€16,023 | +0.9% |
| Land and buildings | 22 | €906,244 | €879,210 | -€27,034 | -3.0% |
| Plant, machinery and equipment | 23 | €469,607 | €491,686 | +€22,079 | +4.7% |
| Furniture and vehicles | 24 | €63,645 | €65,920 | +€2,275 | +3.6% |
| Leasing and similar rights | 25 | €211,467 | €263,034 | +€51,567 | +24.4% |
| Other tangible fixed assets | 26 | €175,214 | €142,350 | -€32,864 | -18.8% |
| Financial fixed assets | 28 | €13,191 | €17,691 | +€4,500 | +34.1% |
| Current assets | 29/58 | €1,457,134 | €1,578,263 | +€121,130 | +8.3% |
| Stocks and contracts in progress | 3 | €455,704 | €299,583 | -€156,121 | -34.3% |
| Stocks | 30/36 | €139,749 | €215,181 | +€75,432 | +54.0% |
| Contracts in progress | 37 | €315,955 | €84,402 | -€231,553 | -73.3% |
| Amounts receivable within one year | 40/41 | €680,282 | €1,007,842 | +€327,561 | +48.2% |
| Trade receivables | 40 | €605,251 | €1,006,720 | +€401,469 | +66.3% |
| Other amounts receivable | 41 | €75,031 | €1,122 | -€73,909 | -98.5% |
| Cash at bank and in hand | 54/58 | €284,294 | €234,534 | -€49,760 | -17.5% |
| Deferred charges and accrued income | 490/1 | €36,854 | €36,304 | -€550 | -1.5% |
| Total equity and liabilities | 10/49 | €3,368,230 | €3,502,534 | +€134,304 | +4.0% |
| Equity | 10/15 | €803,072 | €1,161,877 | +€358,805 | +44.7% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Revaluation surpluses | 12 | €283,333 | €283,333 | = | 0.0% |
| Reserves | 13 | €643,313 | €643,313 | = | 0.0% |
| Distributable reserves | 133 | €643,313 | €643,313 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€373,573 | -€14,768 | +€358,805 | +96.0% |
| Amounts payable | 17/49 | €2,565,158 | €2,340,657 | -€224,501 | -8.8% |
| Amounts payable after more than one year | 17 | €1,162,415 | €1,136,276 | -€26,139 | -2.2% |
| Financial debts | 170/4 | €1,162,415 | €1,136,276 | -€26,139 | -2.2% |
| Amounts payable within one year | 42/48 | €1,376,857 | €1,204,381 | -€172,476 | -12.5% |
| Current portion of amounts payable after more than one year | 42 | €196,273 | €187,462 | -€8,810 | -4.5% |
| Financial debts | 43 | €500,000 | €521,048 | +€21,048 | +4.2% |
| Credit institutions | 430/8 | €500,000 | €521,048 | +€21,048 | +4.2% |
| Trade debts | 44 | €561,997 | €380,321 | -€181,676 | -32.3% |
| Suppliers | 440/4 | €561,997 | €380,321 | -€181,676 | -32.3% |
| Taxes, remuneration and social security | 45 | €118,588 | €115,550 | -€3,038 | -2.6% |
| Taxes | 450/3 | €53,257 | €50,838 | -€2,420 | -4.5% |
| Remuneration and social security | 454/9 | €65,331 | €64,712 | -€618 | -0.9% |
| Accrued charges and deferred income | 492/3 | €25,886 | €0 | -€25,886 | -100.0% |
| Remuneration, social security and pensions | 62 | €623,139 | €621,354 | -€1,785 | -0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €248,930 | €289,514 | +€40,583 | +16.3% |
| Other operating charges | 640/8 | €10,239 | €12,209 | +€1,970 | +19.2% |
| Gross operating margin | 9900 | €594,598 | €1,351,717 | +€757,120 | +127.3% |
| Operating profit (loss) | 9901 | -€287,711 | €428,641 | +€716,352 | |
| Financial income | 75/76B | €1,136 | €182 | -€954 | -84.0% |
| Recurring financial income | 75 | €1,136 | €182 | -€954 | -84.0% |
| Financial charges | 65/66B | €86,661 | €69,724 | -€16,937 | -19.5% |
| Recurring financial charges | 65 | €86,661 | €69,724 | -€16,937 | -19.5% |
| Profit (loss) for the period before taxes | 9903 | -€373,236 | €359,099 | +€732,335 | |
| Income taxes | 67/77 | €337 | €294 | -€43 | -12.9% |
| Profit (loss) for the period | 9904 | -€373,573 | €358,805 | +€732,379 | |
| Profit (loss) for the period to be appropriated | 9905 | -€373,573 | €358,805 | +€732,379 |
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 29 September 2026 via checked.be.