M.D.S. IMMO: 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.S. IMMO
Largest movements
- Tangible fixed assets -€26,414
down €26,414 (-4.0%), from €667,548 to €641,134
- Cash +€9,409
up €9,409 (+63.5%), from €14,823 to €24,232
mainly Depreciation (+€36,077) and Tax, wage and social debts (+€118)
- Profit (loss) carried forward -€16,469
down €16,469 (-17.4%), from -€94,595 to -€111,063
- Gross operating margin +€22,788
up €22,788, from -€9,456 to €13,331
- Other operating charges -€18,983
no longer reported in 2025 (was €18,983)
- Financial income +€6,498
new in 2025: €6,498
of which Financial income: +€6,498
- Depreciation +€900
up €900 (+2.6%), from €35,178 to €36,077
- Financial charges -€550
down €550 (-76.6%), from €719 to €168
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.
Derived cash bridge
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 | €682,456 | €665,391 | -€17,065 | -2.5% |
| Fixed assets | 21/28 | €667,548 | €641,134 | -€26,414 | -4.0% |
| Tangible fixed assets | 22/27 | €667,548 | €641,134 | -€26,414 | -4.0% |
| Land and buildings | 22 | €667,548 | €641,134 | -€26,414 | -4.0% |
| Current assets | 29/58 | €14,908 | €24,257 | +€9,349 | +62.7% |
| Cash at bank and in hand | 54/58 | €14,823 | €24,232 | +€9,409 | +63.5% |
| Deferred charges and accrued income | 490/1 | €85 | €25 | -€60 | -70.6% |
| Total equity and liabilities | 10/49 | €682,456 | €665,391 | -€17,065 | -2.5% |
| Equity | 10/15 | €643,405 | €626,937 | -€16,469 | -2.6% |
| Contributions | 10/11 | €19,406 | €19,406 | = | 0.0% |
| Revaluation surpluses | 12 | €703,556 | €703,556 | = | 0.0% |
| Reserves | 13 | €15,038 | €15,038 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,941 | €1,941 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,941 | €1,941 | = | 0.0% |
| Distributable reserves | 133 | €13,097 | €13,097 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€94,595 | -€111,063 | -€16,469 | -17.4% |
| Amounts payable | 17/49 | €39,050 | €38,454 | -€596 | -1.5% |
| Amounts payable within one year | 42/48 | €39,050 | €38,454 | -€596 | -1.5% |
| Trade debts | 44 | €5,550 | €4,836 | -€714 | -12.9% |
| Suppliers | 440/4 | €5,550 | €4,836 | -€714 | -12.9% |
| Taxes, remuneration and social security | 45 | - | €118 | +€118 | |
| Taxes | 450/3 | - | €118 | +€118 | |
| Other amounts payable | 47/48 | €33,500 | €33,500 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,178 | €36,077 | +€900 | +2.6% |
| Other operating charges | 640/8 | €18,983 | - | -€18,983 | |
| Gross operating margin | 9900 | -€9,456 | €13,331 | +€22,788 | |
| Operating profit (loss) | 9901 | -€63,617 | -€22,746 | +€40,871 | +64.2% |
| Financial income | 75/76B | - | €6,498 | +€6,498 | |
| Recurring financial income | 75 | - | €6,498 | +€6,498 | |
| Non-recurring financial income | 76B | - | €6,498 | +€6,498 | |
| Financial charges | 65/66B | €719 | €168 | -€550 | -76.6% |
| Recurring financial charges | 65 | €719 | €168 | -€550 | -76.6% |
| Profit (loss) for the period before taxes | 9903 | -€64,335 | -€16,416 | +€47,919 | +74.5% |
| Income taxes | 67/77 | - | €52 | +€52 | |
| Profit (loss) for the period | 9904 | -€64,335 | -€16,469 | +€47,867 | +74.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€64,335 | -€16,469 | +€47,867 | +74.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.