MT CONSTRUCT: 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.
MT CONSTRUCT
Largest movements
- Cash +€29,848
up €29,848 (+12.1%), from €245,741 to €275,589
mainly Net result for the year (+€74,925) and Depreciation (+€25,629)
- Tangible fixed assets -€23,014
down €23,014 (-12.0%), from €192,465 to €169,451
of which Land and buildings: -€21,128
- Receivables within one year +€19,509
up €19,509 (+47.0%), from €41,545 to €61,054
of which Other amounts receivable: +€19,441
- Reserves +€68,750
up €68,750 (+16.9%), from €407,869 to €476,619
of which Distributable reserves: +€68,750
- Debts after one year -€19,123
down €19,123 (-35.1%), from €54,413 to €35,290
- Tax, wage and social debts -€18,573
down €18,573 (-42.4%), from €43,826 to €25,253
- Gross operating margin +€4,542
up €4,542 (+3.5%), from €129,840 to €134,382
- Taxes +€4,264
up €4,264 (+17.6%), from €24,263 to €28,527
- Financial charges -€1,410
down €1,410 (-23.1%), from €6,106 to €4,696
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.
Derived cash bridge
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 | €691,134 | €716,687 | +€25,553 | +3.7% |
| Fixed assets | 21/28 | €192,552 | €169,451 | -€23,101 | -12.0% |
| Tangible fixed assets | 22/27 | €192,465 | €169,451 | -€23,014 | -12.0% |
| Land and buildings | 22 | €188,502 | €167,374 | -€21,128 | -11.2% |
| Plant, machinery and equipment | 23 | €51 | - | -€51 | |
| Furniture and vehicles | 24 | €3,912 | €2,077 | -€1,835 | -46.9% |
| Financial fixed assets | 28 | €87 | - | -€87 | |
| Current assets | 29/58 | €498,582 | €547,236 | +€48,654 | +9.8% |
| Amounts receivable after more than one year | 29 | €110,000 | €110,000 | = | 0.0% |
| Other amounts receivable | 291 | €110,000 | €110,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €41,545 | €61,054 | +€19,509 | +47.0% |
| Trade receivables | 40 | €21,113 | €21,181 | +€68 | +0.3% |
| Other amounts receivable | 41 | €20,432 | €39,873 | +€19,441 | +95.1% |
| Current investments | 50/53 | €100,505 | €100,000 | -€505 | -0.5% |
| Cash at bank and in hand | 54/58 | €245,741 | €275,589 | +€29,848 | +12.1% |
| Deferred charges and accrued income | 490/1 | €791 | €593 | -€198 | -25.0% |
| Total equity and liabilities | 10/49 | €691,134 | €716,687 | +€25,553 | +3.7% |
| Equity | 10/15 | €545,778 | €614,703 | +€68,925 | +12.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €407,869 | €476,619 | +€68,750 | +16.9% |
| Tax-exempt reserves | 132 | €24,800 | €24,800 | = | 0.0% |
| Distributable reserves | 133 | €383,069 | €451,819 | +€68,750 | +17.9% |
| Profit (loss) carried forward | 14 | €131,709 | €131,884 | +€175 | +0.1% |
| Provisions and deferred taxes | 16 | €11,679 | €11,679 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €11,679 | €11,679 | = | 0.0% |
| Pensions and similar obligations | 160 | €11,679 | €11,679 | = | 0.0% |
| Amounts payable | 17/49 | €133,677 | €90,305 | -€43,372 | -32.4% |
| Amounts payable after more than one year | 17 | €54,413 | €35,290 | -€19,123 | -35.1% |
| Financial debts | 170/4 | €54,413 | €35,290 | -€19,123 | -35.1% |
| Amounts payable within one year | 42/48 | €79,264 | €55,015 | -€24,249 | -30.6% |
| Current portion of amounts payable after more than one year | 42 | €20,105 | €20,806 | +€701 | +3.5% |
| Financial debts | 43 | - | €6 | +€6 | |
| Credit institutions | 430/8 | - | €6 | +€6 | |
| Trade debts | 44 | €3,333 | €2,950 | -€383 | -11.5% |
| Suppliers | 440/4 | €3,333 | €2,950 | -€383 | -11.5% |
| Taxes, remuneration and social security | 45 | €43,826 | €25,253 | -€18,573 | -42.4% |
| Taxes | 450/3 | €43,826 | €25,253 | -€18,573 | -42.4% |
| Other amounts payable | 47/48 | €12,000 | €6,000 | -€6,000 | -50.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,360 | €25,629 | -€731 | -2.8% |
| Other operating charges | 640/8 | €2,627 | €2,230 | -€397 | -15.1% |
| Gross operating margin | 9900 | €129,840 | €134,382 | +€4,542 | +3.5% |
| Operating profit (loss) | 9901 | €100,853 | €106,523 | +€5,670 | +5.6% |
| Financial income | 75/76B | €737 | €1,625 | +€888 | +120% |
| Recurring financial income | 75 | €737 | €1,625 | +€888 | +120% |
| Financial charges | 65/66B | €6,106 | €4,696 | -€1,410 | -23.1% |
| Recurring financial charges | 65 | €6,106 | €4,696 | -€1,410 | -23.1% |
| Profit (loss) for the period before taxes | 9903 | €95,484 | €103,452 | +€7,968 | +8.3% |
| Income taxes | 67/77 | €24,263 | €28,527 | +€4,264 | +17.6% |
| Profit (loss) for the period | 9904 | €71,221 | €74,925 | +€3,704 | +5.2% |
| Profit (loss) for the period to be appropriated | 9905 | €71,221 | €74,925 | +€3,704 | +5.2% |
Source: filed annual accounts (NBB), financial years ended 30 November 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.