M.D. MANAGEMENT SUPPORT: 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. MANAGEMENT SUPPORT
Largest movements
- Receivables within one year +€90,717
up €90,717 (+111%), from €81,714 to €172,430
of which Trade receivables: +€92,973
- Cash -€23,102
down €23,102 (-37.2%), from €62,140 to €39,039
- Deferred charges and accrued income -€2,783
down €2,783 (-11.9%), from €23,379 to €20,596
- Reserves +€36,609
up €36,609 (+20.2%), from €181,016 to €217,625
of which Distributable reserves: +€36,609
- Profit (loss) carried forward +€27,052
no longer reported in 2023 (was -€27,052)
- Other debts -€20,670
down €20,670 (-71.8%), from €28,781 to €8,112
- Tax, wage and social debts +€12,409
new in 2023: €12,409
- Trade debts +€11,832
new in 2023: €11,832
- Gross operating margin +€139,772
up €139,772, from -€77,521 to €62,251
- Taxes +€4,528
up €4,528 (+11,380%), from €40 to €4,568
- Other operating charges +€4,218
up €4,218 (+212%), from €1,994 to €6,212
- Financial charges -€1,463
down €1,463 (-67.3%), from €2,172 to €709
From the 2021 result to the 2023 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 | 2021 | 2023 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €189,294 | €256,178 | +€66,884 | +35.3% |
| Fixed assets | 21/28 | €19,292 | €21,345 | +€2,052 | +10.6% |
| Tangible fixed assets | 22/27 | €19,292 | €21,345 | +€2,052 | +10.6% |
| Land and buildings | 22 | €1,194 | €8,187 | +€6,993 | +586% |
| Plant, machinery and equipment | 23 | - | €325 | +€325 | |
| Furniture and vehicles | 24 | €18,098 | €12,833 | -€5,265 | -29.1% |
| Current assets | 29/58 | €170,001 | €234,833 | +€64,832 | +38.1% |
| Amounts receivable within one year | 40/41 | €81,714 | €172,430 | +€90,717 | +111% |
| Trade receivables | 40 | €61,702 | €154,675 | +€92,973 | +151% |
| Other amounts receivable | 41 | €20,011 | €17,755 | -€2,256 | -11.3% |
| Current investments | 50/53 | €2,768 | €2,768 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €62,140 | €39,039 | -€23,102 | -37.2% |
| Deferred charges and accrued income | 490/1 | €23,379 | €20,596 | -€2,783 | -11.9% |
| Total equity and liabilities | 10/49 | €189,294 | €256,178 | +€66,884 | +35.3% |
| Equity | 10/15 | €160,164 | €223,825 | +€63,661 | +39.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €181,016 | €217,625 | +€36,609 | +20.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €27,900 | €27,900 | = | 0.0% |
| Distributable reserves | 133 | €151,256 | €187,865 | +€36,609 | +24.2% |
| Profit (loss) carried forward | 14 | -€27,052 | - | +€27,052 | |
| Amounts payable | 17/49 | €29,130 | €32,353 | +€3,223 | +11.1% |
| Amounts payable within one year | 42/48 | €28,781 | €32,353 | +€3,572 | +12.4% |
| Trade debts | 44 | - | €11,832 | +€11,832 | |
| Suppliers | 440/4 | - | €11,832 | +€11,832 | |
| Taxes, remuneration and social security | 45 | - | €12,409 | +€12,409 | |
| Taxes | 450/3 | - | €12,409 | +€12,409 | |
| Other amounts payable | 47/48 | €28,781 | €8,112 | -€20,670 | -71.8% |
| Accrued charges and deferred income | 492/3 | €349 | - | -€349 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,256 | €4,757 | -€499 | -9.5% |
| Other operating charges | 640/8 | €1,994 | €6,212 | +€4,218 | +212% |
| Gross operating margin | 9900 | -€77,521 | €62,251 | +€139,772 | |
| Operating profit (loss) | 9901 | -€84,771 | €51,281 | +€136,053 | |
| Financial income | 75/76B | €143 | €121 | -€22 | -15.3% |
| Recurring financial income | 75 | €143 | €121 | -€22 | -15.3% |
| Financial charges | 65/66B | €2,172 | €709 | -€1,463 | -67.3% |
| Recurring financial charges | 65 | €2,172 | €709 | -€1,463 | -67.3% |
| Profit (loss) for the period before taxes | 9903 | -€86,800 | €50,693 | +€137,493 | |
| Income taxes | 67/77 | €40 | €4,568 | +€4,528 | +11,380% |
| Profit (loss) for the period | 9904 | -€86,840 | €46,126 | +€132,965 | |
| Profit (loss) for the period to be appropriated | 9905 | -€86,840 | €46,126 | +€132,965 |
Source: filed annual accounts (NBB), financial years ended 31 December 2021 and 31 December 2023. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.