M.D.D.: 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.
M.D.D.
Largest movements
- Cash +€25,612
up €25,612 (+182.9%), from €14,001 to €39,614
mainly Net result for the year (+€19,631) and Tax, wage and social debts (+€8,919)
- Profit (loss) carried forward +€19,631
up €19,631 (+33.8%), from €58,161 to €77,792
- Tax, wage and social debts +€8,919
up €8,919 (+676.2%), from €1,319 to €10,238
- Depreciation -€5,950
no longer reported in 2025 (was €5,950)
- Taxes +€2,419
up €2,419 (+50.2%), from €4,819 to €7,238
- Gross operating margin +€2,231
up €2,231 (+11.0%), from €20,336 to €22,567
- Financial income +€653
up €653 (+7.1%), from €9,247 to €9,899
- Other operating charges +€290
up €290 (+5.6%), from €5,132 to €5,421
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 | €405,627 | €435,214 | +€29,587 | +7.3% |
| Fixed assets | 21/28 | €58,069 | €58,069 | = | 0.0% |
| Tangible fixed assets | 22/27 | €58,069 | €58,069 | = | 0.0% |
| Land and buildings | 22 | €58,069 | €58,069 | = | 0.0% |
| Current assets | 29/58 | €347,558 | €377,145 | +€29,587 | +8.5% |
| Amounts receivable within one year | 40/41 | €333,556 | €337,531 | +€3,975 | +1.2% |
| Other amounts receivable | 41 | €333,556 | €337,531 | +€3,975 | +1.2% |
| Cash at bank and in hand | 54/58 | €14,001 | €39,614 | +€25,612 | +182.9% |
| Total equity and liabilities | 10/49 | €405,627 | €435,214 | +€29,587 | +7.3% |
| Equity | 10/15 | €385,073 | €404,704 | +€19,631 | +5.1% |
| Contributions | 10/11 | €74,368 | €74,368 | = | 0.0% |
| Capital | 10 | €74,368 | €74,368 | = | 0.0% |
| Issued capital | 100 | €74,368 | €74,368 | = | 0.0% |
| Reserves | 13 | €252,544 | €252,544 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,437 | €7,437 | = | 0.0% |
| Legal reserve | 130 | €7,437 | €7,437 | = | 0.0% |
| Distributable reserves | 133 | €245,107 | €245,107 | = | 0.0% |
| Profit (loss) carried forward | 14 | €58,161 | €77,792 | +€19,631 | +33.8% |
| Amounts payable | 17/49 | €20,554 | €30,511 | +€9,957 | +48.4% |
| Amounts payable after more than one year | 17 | €14,130 | €14,130 | = | 0.0% |
| Other amounts payable | 178/9 | €14,130 | €14,130 | = | 0.0% |
| Amounts payable within one year | 42/48 | €2,425 | €12,385 | +€9,960 | +410.7% |
| Trade debts | 44 | €461 | €857 | +€396 | +85.8% |
| Suppliers | 440/4 | €461 | €857 | +€396 | +85.8% |
| Taxes, remuneration and social security | 45 | €1,319 | €10,238 | +€8,919 | +676.2% |
| Taxes | 450/3 | €1,319 | €10,238 | +€8,919 | +676.2% |
| Other amounts payable | 47/48 | €645 | €1,290 | +€645 | +100.0% |
| Accrued charges and deferred income | 492/3 | €3,999 | €3,996 | -€3 | -0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,950 | - | -€5,950 | |
| Other operating charges | 640/8 | €5,132 | €5,421 | +€290 | +5.6% |
| Gross operating margin | 9900 | €20,336 | €22,567 | +€2,231 | +11.0% |
| Operating profit (loss) | 9901 | €9,255 | €17,146 | +€7,891 | +85.3% |
| Financial income | 75/76B | €9,247 | €9,899 | +€653 | +7.1% |
| Recurring financial income | 75 | €9,247 | €9,899 | +€653 | +7.1% |
| Financial charges | 65/66B | €152 | €177 | +€25 | +16.4% |
| Recurring financial charges | 65 | €152 | €177 | +€25 | +16.4% |
| Profit (loss) for the period before taxes | 9903 | €18,350 | €26,869 | +€8,519 | +46.4% |
| Income taxes | 67/77 | €4,819 | €7,238 | +€2,419 | +50.2% |
| Profit (loss) for the period | 9904 | €13,531 | €19,631 | +€6,100 | +45.1% |
| Profit (loss) for the period to be appropriated | 9905 | €13,531 | €19,631 | +€6,100 | +45.1% |
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 6 October 2026 via checked.be.