M.D.E.H: 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.E.H
Largest movements
- Deferred charges and accrued income +€47,351
up €47,351 (+2334.9%), from €2,028 to €49,379
- Tangible fixed assets -€17,451
down €17,451 (-6.1%), from €285,601 to €268,150
- Cash +€12,869
up €12,869 (+214.8%), from €5,991 to €18,860
mainly Other debts (+€83,856) and Debts after one year (+€65,334)
- Other debts +€83,856
up €83,856 (+374.7%), from €22,380 to €106,235
- Debts after one year +€65,334
up €65,334 (+61.4%), from €106,433 to €171,767
- Profit (loss) carried forward -€45,589
down €45,589, from €22,107 to -€23,482
- Current portion of long-term debt -€39,064
down €39,064 (-75.6%), from €51,676 to €12,612
- Trade debts -€21,768
down €21,768 (-95.4%), from €22,824 to €1,056
- Gross operating margin -€66,633
down €66,633, from €60,588 to -€6,045
- Depreciation -€2,717
down €2,717 (-13.5%), from €20,168 to €17,451
- Other operating charges -€2,445
down €2,445 (-13.7%), from €17,892 to €15,447
- Financial charges +€1,159
up €1,159 (+21.1%), from €5,487 to €6,646
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 | €293,620 | €336,388 | +€42,769 | +14.6% |
| Fixed assets | 21/28 | €285,601 | €268,150 | -€17,451 | -6.1% |
| Tangible fixed assets | 22/27 | €285,601 | €268,150 | -€17,451 | -6.1% |
| Land and buildings | 22 | €285,601 | €268,150 | -€17,451 | -6.1% |
| Current assets | 29/58 | €8,019 | €68,238 | +€60,219 | +751.0% |
| Cash at bank and in hand | 54/58 | €5,991 | €18,860 | +€12,869 | +214.8% |
| Deferred charges and accrued income | 490/1 | €2,028 | €49,379 | +€47,351 | +2334.9% |
| Total equity and liabilities | 10/49 | €293,620 | €336,388 | +€42,769 | +14.6% |
| Equity | 10/15 | €90,307 | €44,718 | -€45,589 | -50.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €22,107 | -€23,482 | -€45,589 | |
| Amounts payable | 17/49 | €203,313 | €291,670 | +€88,357 | +43.5% |
| Amounts payable after more than one year | 17 | €106,433 | €171,767 | +€65,334 | +61.4% |
| Financial debts | 170/4 | €106,433 | €171,767 | +€65,334 | +61.4% |
| Amounts payable within one year | 42/48 | €96,880 | €119,903 | +€23,023 | +23.8% |
| Current portion of amounts payable after more than one year | 42 | €51,676 | €12,612 | -€39,064 | -75.6% |
| Trade debts | 44 | €22,824 | €1,056 | -€21,768 | -95.4% |
| Suppliers | 440/4 | €22,824 | €1,056 | -€21,768 | -95.4% |
| Other amounts payable | 47/48 | €22,380 | €106,235 | +€83,856 | +374.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,168 | €17,451 | -€2,717 | -13.5% |
| Other operating charges | 640/8 | €17,892 | €15,447 | -€2,445 | -13.7% |
| Gross operating margin | 9900 | €60,588 | -€6,045 | -€66,633 | |
| Operating profit (loss) | 9901 | €22,529 | -€38,942 | -€61,471 | |
| Financial charges | 65/66B | €5,487 | €6,646 | +€1,159 | +21.1% |
| Recurring financial charges | 65 | €5,487 | €6,646 | +€1,159 | +21.1% |
| Profit (loss) for the period before taxes | 9903 | €17,042 | -€45,589 | -€62,631 | |
| Profit (loss) for the period | 9904 | €17,042 | -€45,589 | -€62,631 | |
| Profit (loss) for the period to be appropriated | 9905 | €17,042 | -€45,589 | -€62,631 |
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 5 October 2026 via checked.be.