M.D. TAX: 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. TAX
Largest movements
- Tangible fixed assets -€6,667
down €6,667 (-50.0%), from €13,333 to €6,667
- Cash +€6,038
up €6,038 (+51.8%), from €11,658 to €17,696
mainly Depreciation (+€6,667) and Receivables within one year (+€239)
- Profit (loss) carried forward -€547
down €547 (-6.2%), from €8,796 to €8,249
- Trade debts -€320
down €320 (-44.6%), from €718 to €398
- Financial income -€5,820
no longer reported in 2025 (was €5,820)
- Gross operating margin +€4,831
up €4,831 (+182%), from €2,650 to €7,482
- Other operating charges -€586
down €586 (-42.0%), from €1,395 to €809
- Staff costs -€501
down €501 (-55.6%), from €901 to €400
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 | €27,365 | €26,497 | -€867 | -3.2% |
| Fixed assets | 21/28 | €13,333 | €6,667 | -€6,667 | -50.0% |
| Tangible fixed assets | 22/27 | €13,333 | €6,667 | -€6,667 | -50.0% |
| Furniture and vehicles | 24 | €13,333 | €6,667 | -€6,667 | -50.0% |
| Current assets | 29/58 | €14,031 | €19,830 | +€5,799 | +41.3% |
| Amounts receivable within one year | 40/41 | €2,373 | €2,134 | -€239 | -10.1% |
| Trade receivables | 40 | €364 | €112 | -€251 | -69.2% |
| Other amounts receivable | 41 | €2,010 | €2,022 | +€12 | +0.6% |
| Cash at bank and in hand | 54/58 | €11,658 | €17,696 | +€6,038 | +51.8% |
| Total equity and liabilities | 10/49 | €27,365 | €26,497 | -€867 | -3.2% |
| Equity | 10/15 | €26,646 | €26,099 | -€547 | -2.1% |
| Contributions | 10/11 | €17,000 | €17,000 | = | 0.0% |
| Reserves | 13 | €850 | €850 | = | 0.0% |
| Non-distributable reserves | 130/1 | €850 | €850 | = | 0.0% |
| Reserves not available under the articles | 1311 | €850 | €850 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,796 | €8,249 | -€547 | -6.2% |
| Amounts payable | 17/49 | €718 | €398 | -€320 | -44.6% |
| Amounts payable within one year | 42/48 | €718 | €398 | -€320 | -44.6% |
| Trade debts | 44 | €718 | €398 | -€320 | -44.6% |
| Suppliers | 440/4 | €718 | €398 | -€320 | -44.6% |
| Remuneration, social security and pensions | 62 | €901 | €400 | -€501 | -55.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,667 | €6,667 | = | 0.0% |
| Other operating charges | 640/8 | €1,395 | €809 | -€586 | -42.0% |
| Gross operating margin | 9900 | €2,650 | €7,482 | +€4,831 | +182% |
| Operating profit (loss) | 9901 | -€6,312 | -€394 | +€5,918 | +93.8% |
| Financial income | 75/76B | €5,820 | - | -€5,820 | |
| Recurring financial income | 75 | €5,820 | - | -€5,820 | |
| Financial charges | 65/66B | €140 | €153 | +€13 | +9.2% |
| Recurring financial charges | 65 | €140 | €153 | +€13 | +9.2% |
| Profit (loss) for the period before taxes | 9903 | -€632 | -€547 | +€85 | +13.5% |
| Profit (loss) for the period | 9904 | -€632 | -€547 | +€85 | +13.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€632 | -€547 | +€85 | +13.5% |
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 27 October 2026 via checked.be.