M.D. Building: 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.
M.D. Building
Largest movements
- Stocks and contracts +€228,304
new in 2025: €228,304
- Cash -€20,907
down €20,907 (-76.2%), from €27,449 to €6,541
mainly Stocks and contracts (-€228,304) and Net result for the year (-€13,196)
- Tangible fixed assets -€12,499
down €12,499 (-4.7%), from €268,528 to €256,029
- Receivables within one year +€6,230
up €6,230 (+11.5%), from €54,397 to €60,627
of which Other amounts receivable: +€7,670
- Other debts +€216,262
up €216,262 (+818.0%), from €26,439 to €242,701
- Reserves -€13,196
down €13,196 (-6.9%), from €190,549 to €177,354
of which Distributable reserves: -€9,482
- Gross operating margin -€45,955
down €45,955 (-90.3%), from €50,911 to €4,956
- Depreciation -€3,078
down €3,078 (-19.8%), from €15,577 to €12,499
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 | €353,415 | €554,543 | +€201,128 | +56.9% |
| Fixed assets | 21/28 | €271,265 | €258,766 | -€12,499 | -4.6% |
| Tangible fixed assets | 22/27 | €268,528 | €256,029 | -€12,499 | -4.7% |
| Land and buildings | 22 | €268,528 | €256,029 | -€12,499 | -4.7% |
| Financial fixed assets | 28 | €2,737 | €2,737 | = | 0.0% |
| Current assets | 29/58 | €82,150 | €295,776 | +€213,627 | +260.0% |
| Stocks and contracts in progress | 3 | - | €228,304 | +€228,304 | |
| Stocks | 30/36 | - | €228,304 | +€228,304 | |
| Amounts receivable within one year | 40/41 | €54,397 | €60,627 | +€6,230 | +11.5% |
| Trade receivables | 40 | €2,520 | €1,080 | -€1,440 | -57.1% |
| Other amounts receivable | 41 | €51,877 | €59,547 | +€7,670 | +14.8% |
| Current investments | 50/53 | €303 | €303 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €27,449 | €6,541 | -€20,907 | -76.2% |
| Total equity and liabilities | 10/49 | €353,415 | €554,543 | +€201,128 | +56.9% |
| Equity | 10/15 | €290,549 | €277,354 | -€13,196 | -4.5% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €190,549 | €177,354 | -€13,196 | -6.9% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €107,179 | €103,465 | -€3,714 | -3.5% |
| Distributable reserves | 133 | €73,371 | €63,889 | -€9,482 | -12.9% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Provisions and deferred taxes | 16 | €35,726 | €34,488 | -€1,238 | -3.5% |
| Deferred taxes | 168 | €35,726 | €34,488 | -€1,238 | -3.5% |
| Amounts payable | 17/49 | €27,139 | €242,701 | +€215,562 | +794.3% |
| Amounts payable within one year | 42/48 | €26,439 | €242,701 | +€216,262 | +818.0% |
| Trade debts | 44 | €0 | - | = | |
| Suppliers | 440/4 | €0 | - | = | |
| Other amounts payable | 47/48 | €26,439 | €242,701 | +€216,262 | +818.0% |
| Accrued charges and deferred income | 492/3 | €700 | €0 | -€700 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,577 | €12,499 | -€3,078 | -19.8% |
| Other operating charges | 640/8 | €6,480 | €6,745 | +€265 | +4.1% |
| Gross operating margin | 9900 | €50,911 | €4,956 | -€45,955 | -90.3% |
| Operating profit (loss) | 9901 | €28,854 | -€14,288 | -€43,143 | |
| Financial income | 75/76B | €3 | €0 | -€3 | -100.0% |
| Recurring financial income | 75 | €3 | €0 | -€3 | -100.0% |
| Financial charges | 65/66B | €135 | €145 | +€10 | +7.4% |
| Recurring financial charges | 65 | €135 | €145 | +€10 | +7.4% |
| Profit (loss) for the period before taxes | 9903 | €28,722 | -€14,434 | -€43,156 | |
| Transfer from deferred taxes | 780 | €1,238 | €1,238 | = | 0.0% |
| Income taxes | 67/77 | €1 | €0 | -€1 | -100.0% |
| Profit (loss) for the period | 9904 | €29,959 | -€13,196 | -€43,155 | |
| Transfer from tax-exempt reserves | 789 | €3,714 | €3,714 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €33,673 | -€9,482 | -€43,155 |
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 10 October 2026 via checked.be.