M D M CONCEPT: 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 M CONCEPT
Largest movements
- Stocks and contracts +€62,957
up €62,957 (+20.5%), from €307,739 to €370,695
- Tangible fixed assets -€11,749
down €11,749 (-7.1%), from €165,209 to €153,460
of which Land and buildings: -€11,311
- Receivables within one year -€11,700
down €11,700 (-19.0%), from €61,700 to €50,000
- Cash -€8,324
down €8,324 (-46.2%), from €17,998 to €9,674
- Other debts +€49,177
up €49,177 (+18.2%), from €270,320 to €319,497
- Debts after one year -€20,316
down €20,316 (-11.0%), from €184,238 to €163,922
of which Other amounts payable: -€113,980
- Gross operating margin -€6,691
down €6,691 (-46.6%), from €14,363 to €7,672
- Other operating charges -€2,919
down €2,919 (-76.5%), from €3,814 to €895
- Taxes +€2,906
up €2,906 (+3,483%), from €83 to €2,990
- Depreciation +€278
up €278 (+4.6%), from €6,080 to €6,358
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €552,645 | €583,830 | +€31,184 | +5.6% |
| Fixed assets | 21/28 | €165,209 | €153,460 | -€11,749 | -7.1% |
| Tangible fixed assets | 22/27 | €165,209 | €153,460 | -€11,749 | -7.1% |
| Land and buildings | 22 | €160,323 | €149,012 | -€11,311 | -7.1% |
| Plant, machinery and equipment | 23 | €4,886 | €3,715 | -€1,171 | -24.0% |
| Furniture and vehicles | 24 | - | €733 | +€733 | |
| Current assets | 29/58 | €387,437 | €430,369 | +€42,933 | +11.1% |
| Stocks and contracts in progress | 3 | €307,739 | €370,695 | +€62,957 | +20.5% |
| Stocks | 30/36 | €307,739 | €370,695 | +€62,957 | +20.5% |
| Amounts receivable within one year | 40/41 | €61,700 | €50,000 | -€11,700 | -19.0% |
| Other amounts receivable | 41 | €61,700 | €50,000 | -€11,700 | -19.0% |
| Cash at bank and in hand | 54/58 | €17,998 | €9,674 | -€8,324 | -46.2% |
| Total equity and liabilities | 10/49 | €552,645 | €583,830 | +€31,184 | +5.6% |
| Equity | 10/15 | €82,367 | €82,534 | +€166 | +0.2% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Reserves | 13 | €22,367 | €22,367 | = | 0.0% |
| Distributable reserves | 133 | €22,367 | €22,367 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €166 | +€166 | |
| Amounts payable | 17/49 | €470,278 | €501,296 | +€31,018 | +6.6% |
| Amounts payable after more than one year | 17 | €184,238 | €163,922 | -€20,316 | -11.0% |
| Financial debts | 170/4 | €70,258 | €163,922 | +€93,664 | +133% |
| Other amounts payable | 178/9 | €113,980 | - | -€113,980 | |
| Amounts payable within one year | 42/48 | €283,102 | €330,600 | +€47,498 | +16.8% |
| Current portion of amounts payable after more than one year | 42 | €10,061 | €10,255 | +€193 | +1.9% |
| Trade debts | 44 | €35 | €848 | +€813 | +2,324% |
| Suppliers | 440/4 | €35 | €848 | +€813 | +2,324% |
| Taxes, remuneration and social security | 45 | €2,686 | - | -€2,686 | |
| Taxes | 450/3 | €2,686 | - | -€2,686 | |
| Other amounts payable | 47/48 | €270,320 | €319,497 | +€49,177 | +18.2% |
| Accrued charges and deferred income | 492/3 | €2,938 | €6,774 | +€3,836 | +131% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,080 | €6,358 | +€278 | +4.6% |
| Other operating charges | 640/8 | €3,814 | €895 | -€2,919 | -76.5% |
| Gross operating margin | 9900 | €14,363 | €7,672 | -€6,691 | -46.6% |
| Operating profit (loss) | 9901 | €4,469 | €420 | -€4,049 | -90.6% |
| Financial income | 75/76B | €56 | €5 | -€51 | -91.1% |
| Recurring financial income | 75 | €56 | €5 | -€51 | -91.1% |
| Financial charges | 65/66B | €4,191 | €4,052 | -€139 | -3.3% |
| Recurring financial charges | 65 | €4,191 | €4,052 | -€139 | -3.3% |
| Profit (loss) for the period before taxes | 9903 | €334 | -€3,628 | -€3,962 | |
| Income taxes | 67/77 | €83 | €2,990 | +€2,906 | +3,483% |
| Profit (loss) for the period | 9904 | €250 | -€6,618 | -€6,868 | |
| Profit (loss) for the period to be appropriated | 9905 | €250 | -€6,618 | -€6,868 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.