M&D Benelux: 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
M&D Benelux
NACE 46.720, Wholesale of motor vehicle parts and accessories
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€367,715
2024 · €279,748+€87,967
Equity
€1.2m
2024 · €806,900+€366,360
Cash
€644,116
2024 · €382,638+€261,478
Balance sheet total
€2.9m
2024 · €2.3m+€684,079
Largest movements
Assets
- Receivables within one year +€566,500
up €566,500 (+132%), from €429,323 to €995,823
of which Trade receivables: +€567,217
- Cash +€261,478
up €261,478 (+68.3%), from €382,638 to €644,116
mainly Net result for the year (+€367,715) and Trade debts (+€258,056)
- Stocks and contracts -€124,252
down €124,252 (-10.7%), from €1.2m to €1.0m
Equity and liabilities
- Profit (loss) carried forward +€367,715
up €367,715 (+121%), from €303,519 to €671,234
- Trade debts +€258,056
up €258,056 (+24.2%), from €1.1m to €1.3m
- Tax, wage and social debts +€68,243
up €68,243 (+41.1%), from €165,890 to €234,133
of which Taxes: +€53,922
Income statement
- Gross operating margin +€283,474
up €283,474 (+33.1%), from €857,455 to €1.1m
- Staff costs +€75,914
up €75,914 (+19.9%), from €381,476 to €457,390
- Taxes +€38,294
up €38,294 (+34.0%), from €112,634 to €150,927
- Depreciation +€14,848
up €14,848 (+21.2%), from €69,966 to €84,814
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
€279,748
Gross operating margin
+€283,474
Staff costs
-€75,914
Depreciation
-€14,848
Write-downs
+€923
Other operating charges
-€1,947
Other operating items
-€72,300
Financial income
+€4,407
Financial charges
+€2,466
Taxes
-€38,294
Result 2025
€367,715
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€329,593
Investment
-€58,188
Financing
-€9,927
Cash 2024
€382,638
From operations (derived)
+€329,593
Net result for the year
+€367,715
Depreciation
+€84,814
Stocks and contracts
+€124,252
Receivables within one year
-€566,500
Deferred charges and accrued income
-€6,979
Trade debts
+€258,056
Tax, wage and social debts
+€68,243
Other debts
-€8
Investment (derived)
-€58,188
Investment in fixed assets (net)
-€58,188
Financing
-€9,927
Debts after one year
-€13,594
Current portion of long-term debt
+€5,023
Contributions, distributions and other
-€1,356
Cash 2025
€644,116
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,253,406 | €2,937,485 | +€684,079 | +30.4% |
| Fixed assets | 21/28 | €273,889 | €247,263 | -€26,626 | -9.7% |
| Intangible fixed assets | 21 | €50,291 | €37,391 | -€12,900 | -25.7% |
| Tangible fixed assets | 22/27 | €223,598 | €209,872 | -€13,726 | -6.1% |
| Land and buildings | 22 | €78,679 | €67,057 | -€11,622 | -14.8% |
| Plant, machinery and equipment | 23 | €63,464 | €64,598 | +€1,134 | +1.8% |
| Furniture and vehicles | 24 | €81,456 | €78,217 | -€3,238 | -4.0% |
| Current assets | 29/58 | €1,979,517 | €2,690,222 | +€710,705 | +35.9% |
| Stocks and contracts in progress | 3 | €1,158,453 | €1,034,201 | -€124,252 | -10.7% |
| Stocks | 30/36 | €1,158,453 | €1,034,201 | -€124,252 | -10.7% |
| Amounts receivable within one year | 40/41 | €429,323 | €995,823 | +€566,500 | +132% |
| Trade receivables | 40 | €428,408 | €995,625 | +€567,217 | +132% |
| Other amounts receivable | 41 | €916 | €199 | -€717 | -78.3% |
| Cash at bank and in hand | 54/58 | €382,638 | €644,116 | +€261,478 | +68.3% |
| Deferred charges and accrued income | 490/1 | €9,102 | €16,081 | +€6,979 | +76.7% |
| Total equity and liabilities | 10/49 | €2,253,406 | €2,937,485 | +€684,079 | +30.4% |
| Equity | 10/15 | €806,900 | €1,173,260 | +€366,360 | +45.4% |
| Contributions | 10/11 | €101,983 | €100,000 | -€1,983 | -1.9% |
| Reserves | 13 | €394,620 | €396,604 | +€1,983 | +0.5% |
| Non-distributable reserves | 130/1 | - | €1,983 | +€1,983 | |
| Reserves not available under the articles | 1311 | - | €1,983 | +€1,983 | |
| Distributable reserves | 133 | €394,620 | €394,620 | = | 0.0% |
| Profit (loss) carried forward | 14 | €303,519 | €671,234 | +€367,715 | +121% |
| Investment grants | 15 | €6,778 | €5,422 | -€1,356 | -20.0% |
| Amounts payable | 17/49 | €1,446,506 | €1,764,225 | +€317,719 | +22.0% |
| Amounts payable after more than one year | 17 | €40,670 | €27,076 | -€13,594 | -33.4% |
| Financial debts | 170/4 | €40,670 | €27,076 | -€13,594 | -33.4% |
| Amounts payable within one year | 42/48 | €1,405,836 | €1,737,149 | +€331,313 | +23.6% |
| Current portion of amounts payable after more than one year | 42 | €26,063 | €31,086 | +€5,023 | +19.3% |
| Trade debts | 44 | €1,068,125 | €1,326,181 | +€258,056 | +24.2% |
| Suppliers | 440/4 | €1,068,125 | €1,326,181 | +€258,056 | +24.2% |
| Taxes, remuneration and social security | 45 | €165,890 | €234,133 | +€68,243 | +41.1% |
| Taxes | 450/3 | €126,239 | €180,161 | +€53,922 | +42.7% |
| Remuneration and social security | 454/9 | €39,651 | €53,971 | +€14,321 | +36.1% |
| Other amounts payable | 47/48 | €145,758 | €145,750 | -€8 | 0.0% |
| Non-recurring operating income | 76A | - | €140,322 | +€140,322 | |
| Remuneration, social security and pensions | 62 | €381,476 | €457,390 | +€75,914 | +19.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69,966 | €84,814 | +€14,848 | +21.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€923 | -€923 | |
| Other operating charges | 640/8 | €9,299 | €11,246 | +€1,947 | +20.9% |
| Non-recurring operating charges | 66A | - | €72,300 | +€72,300 | |
| Gross operating margin | 9900 | €857,455 | €1,140,930 | +€283,474 | +33.1% |
| Operating profit (loss) | 9901 | €396,714 | €516,103 | +€119,388 | +30.1% |
| Financial income | 75/76B | €1,773 | €6,180 | +€4,407 | +249% |
| Recurring financial income | 75 | €1,773 | €6,180 | +€4,407 | +249% |
| Financial charges | 65/66B | €6,106 | €3,640 | -€2,466 | -40.4% |
| Recurring financial charges | 65 | €6,106 | €3,640 | -€2,466 | -40.4% |
| Profit (loss) for the period before taxes | 9903 | €392,382 | €518,643 | +€126,261 | +32.2% |
| Income taxes | 67/77 | €112,634 | €150,927 | +€38,294 | +34.0% |
| Profit (loss) for the period | 9904 | €279,748 | €367,715 | +€87,967 | +31.4% |
| Profit (loss) for the period to be appropriated | 9905 | €279,748 | €367,715 | +€87,967 | +31.4% |
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 28 October 2026 via checked.be.