M.D. Plus: 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. Plus
Largest movements
- Cash +€287,445
up €287,445 (+623.4%), from €46,110 to €333,555
mainly Short-term financial debts (+€310,643) and Stocks and contracts (+€229,658)
- Stocks and contracts -€229,658
down €229,658 (-46.5%), from €494,275 to €264,618
of which Contracts in progress: -€339,143
- Receivables within one year -€38,576
down €38,576 (-12.3%), from €312,355 to €273,779
of which Trade receivables: -€62,173
- Receivables after one year -€28,500
down €28,500 (-63.3%), from €45,000 to €16,500
- Short-term financial debts +€310,643
up €310,643 (+1240.0%), from €25,052 to €335,695
- Trade debts -€194,345
down €194,345 (-68.3%), from €284,374 to €90,029
- Other debts -€100,423
down €100,423 (-99.7%), from €100,755 to €332
- Tax, wage and social debts -€29,966
down €29,966 (-52.7%), from €56,892 to €26,926
- Financial charges -€20,445
down €20,445 (-33.2%), from €61,589 to €41,144
- Gross operating margin -€12,882
down €12,882 (-24.6%), from €52,464 to €39,581
- Financial income -€9,863
down €9,863 (-64.9%), from €15,209 to €5,345
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €917,650 | €900,864 | -€16,786 | -1.8% |
| Fixed assets | 21/28 | €10,865 | €7,072 | -€3,793 | -34.9% |
| Tangible fixed assets | 22/27 | €10,865 | €7,072 | -€3,793 | -34.9% |
| Furniture and vehicles | 24 | €10,865 | €7,072 | -€3,793 | -34.9% |
| Current assets | 29/58 | €906,785 | €893,793 | -€12,992 | -1.4% |
| Amounts receivable after more than one year | 29 | €45,000 | €16,500 | -€28,500 | -63.3% |
| Other amounts receivable | 291 | €45,000 | €16,500 | -€28,500 | -63.3% |
| Stocks and contracts in progress | 3 | €494,275 | €264,618 | -€229,658 | -46.5% |
| Stocks | 30/36 | €155,133 | €264,618 | +€109,485 | +70.6% |
| Contracts in progress | 37 | €339,143 | €0 | -€339,143 | -100.0% |
| Amounts receivable within one year | 40/41 | €312,355 | €273,779 | -€38,576 | -12.3% |
| Trade receivables | 40 | €109,569 | €47,396 | -€62,173 | -56.7% |
| Other amounts receivable | 41 | €202,786 | €226,383 | +€23,597 | +11.6% |
| Cash at bank and in hand | 54/58 | €46,110 | €333,555 | +€287,445 | +623.4% |
| Deferred charges and accrued income | 490/1 | €9,045 | €5,341 | -€3,704 | -40.9% |
| Total equity and liabilities | 10/49 | €917,650 | €900,864 | -€16,786 | -1.8% |
| Equity | 10/15 | €449,547 | €447,882 | -€1,665 | -0.4% |
| 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 | €387,547 | €385,882 | -€1,665 | -0.4% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €381,347 | €379,682 | -€1,665 | -0.4% |
| Amounts payable | 17/49 | €468,103 | €452,982 | -€15,121 | -3.2% |
| Amounts payable within one year | 42/48 | €467,074 | €452,982 | -€14,092 | -3.0% |
| Financial debts | 43 | €25,052 | €335,695 | +€310,643 | +1240.0% |
| Credit institutions | 430/8 | €25,052 | €335,695 | +€310,643 | +1240.0% |
| Trade debts | 44 | €284,374 | €90,029 | -€194,345 | -68.3% |
| Suppliers | 440/4 | €284,374 | €90,029 | -€194,345 | -68.3% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €56,892 | €26,926 | -€29,966 | -52.7% |
| Taxes | 450/3 | €56,892 | €26,926 | -€29,966 | -52.7% |
| Other amounts payable | 47/48 | €100,755 | €332 | -€100,423 | -99.7% |
| Accrued charges and deferred income | 492/3 | €1,029 | €0 | -€1,029 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,744 | €3,793 | +€49 | +1.3% |
| Other operating charges | 640/8 | €1,028 | €1,298 | +€270 | +26.3% |
| Gross operating margin | 9900 | €52,464 | €39,581 | -€12,882 | -24.6% |
| Operating profit (loss) | 9901 | €47,692 | €34,490 | -€13,202 | -27.7% |
| Financial income | 75/76B | €15,209 | €5,345 | -€9,863 | -64.9% |
| Recurring financial income | 75 | €15,209 | €5,345 | -€9,863 | -64.9% |
| Financial charges | 65/66B | €61,589 | €41,144 | -€20,445 | -33.2% |
| Recurring financial charges | 65 | €61,589 | €41,144 | -€20,445 | -33.2% |
| Profit (loss) for the period before taxes | 9903 | €1,312 | -€1,309 | -€2,621 | |
| Income taxes | 67/77 | €583 | €356 | -€227 | -38.9% |
| Profit (loss) for the period | 9904 | €729 | -€1,665 | -€2,394 | |
| Profit (loss) for the period to be appropriated | 9905 | €729 | -€1,665 | -€2,394 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.