M.D.T: 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.T
Largest movements
- Receivables within one year -€44,842
down €44,842 (-58.4%), from €76,773 to €31,931
of which Trade receivables: -€29,858
- Tangible fixed assets -€5,182
down €5,182 (-18.8%), from €27,589 to €22,407
of which Other tangible fixed assets: -€3,791
- Cash -€1,826
no longer reported in 2025 (was €1,826)
mainly Net result for the year (-€71,370) and Trade debts (-€7,057)
- Profit (loss) carried forward -€71,370
down €71,370, from €15,526 to -€55,844
- Other debts +€17,934
new in 2025: €17,934
- Trade debts -€7,057
down €7,057 (-16.7%), from €42,186 to €35,129
- Tax, wage and social debts +€5,099
up €5,099 (+17.7%), from €28,808 to €33,908
of which Taxes: +€5,810
- Short-term financial debts +€3,072
new in 2025: €3,072
- Gross operating margin -€67,520
down €67,520, from €15,641 to -€51,880
- Staff costs +€7,997
up €7,997 (+148%), from €5,420 to €13,418
- Other operating charges -€1,441
down €1,441 (-76.6%), from €1,881 to €440
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 | €106,980 | €54,658 | -€52,322 | -48.9% |
| Fixed assets | 21/28 | €27,909 | €22,727 | -€5,182 | -18.6% |
| Tangible fixed assets | 22/27 | €27,589 | €22,407 | -€5,182 | -18.8% |
| Furniture and vehicles | 24 | €401 | - | -€401 | |
| Leasing and similar rights | 25 | €2,970 | €1,980 | -€990 | -33.3% |
| Other tangible fixed assets | 26 | €24,219 | €20,427 | -€3,791 | -15.7% |
| Financial fixed assets | 28 | €320 | €320 | = | 0.0% |
| Current assets | 29/58 | €79,071 | €31,931 | -€47,140 | -59.6% |
| Amounts receivable within one year | 40/41 | €76,773 | €31,931 | -€44,842 | -58.4% |
| Trade receivables | 40 | €59,609 | €29,751 | -€29,858 | -50.1% |
| Other amounts receivable | 41 | €17,164 | €2,180 | -€14,984 | -87.3% |
| Cash at bank and in hand | 54/58 | €1,826 | - | -€1,826 | |
| Deferred charges and accrued income | 490/1 | €473 | - | -€473 | |
| Total equity and liabilities | 10/49 | €106,980 | €54,658 | -€52,322 | -48.9% |
| Equity | 10/15 | €35,986 | -€35,384 | -€71,370 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,526 | -€55,844 | -€71,370 | |
| Amounts payable | 17/49 | €70,994 | €90,042 | +€19,048 | +26.8% |
| Amounts payable within one year | 42/48 | €70,994 | €90,042 | +€19,048 | +26.8% |
| Financial debts | 43 | - | €3,072 | +€3,072 | |
| Credit institutions | 430/8 | - | €3,072 | +€3,072 | |
| Trade debts | 44 | €42,186 | €35,129 | -€7,057 | -16.7% |
| Suppliers | 440/4 | €42,186 | €35,129 | -€7,057 | -16.7% |
| Taxes, remuneration and social security | 45 | €28,808 | €33,908 | +€5,099 | +17.7% |
| Taxes | 450/3 | €25,690 | €31,500 | +€5,810 | +22.6% |
| Remuneration and social security | 454/9 | €3,118 | €2,408 | -€710 | -22.8% |
| Other amounts payable | 47/48 | - | €17,934 | +€17,934 | |
| Remuneration, social security and pensions | 62 | €5,420 | €13,418 | +€7,997 | +148% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,544 | €5,182 | -€362 | -6.5% |
| Other operating charges | 640/8 | €1,881 | €440 | -€1,441 | -76.6% |
| Gross operating margin | 9900 | €15,641 | -€51,880 | -€67,520 | |
| Operating profit (loss) | 9901 | €2,795 | -€70,919 | -€73,715 | |
| Financial income | 75/76B | - | €3 | +€3 | |
| Recurring financial income | 75 | - | €3 | +€3 | |
| Financial charges | 65/66B | €628 | €454 | -€173 | -27.6% |
| Recurring financial charges | 65 | €628 | €454 | -€173 | -27.6% |
| Profit (loss) for the period before taxes | 9903 | €2,168 | -€71,370 | -€73,538 | |
| Income taxes | 67/77 | €287 | - | -€287 | |
| Profit (loss) for the period | 9904 | €1,881 | -€71,370 | -€73,251 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,881 | -€71,370 | -€73,251 |
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 15 October 2026 via checked.be.