M.D.V. - Buro: 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.V. - Buro
Largest movements
- Current investments +€49,600
up €49,600 (+16.2%), from €305,600 to €355,200
- Receivables within one year -€25,656
down €25,656 (-67.7%), from €37,872 to €12,216
of which Trade receivables: -€27,688
- Cash -€4,348
down €4,348 (-14.9%), from €29,174 to €24,827
mainly Current investments (-€49,600) and Tax, wage and social debts (-€8,613)
- Trade debts +€9,499
up €9,499 (+406%), from €2,340 to €11,839
- Other debts +€9,201
up €9,201 (+58.2%), from €15,804 to €25,005
- Tax, wage and social debts -€8,613
no longer reported in 2025 (was €8,613)
of which Taxes: -€5,120
- Reserves +€7,574
up €7,574 (+2.3%), from €332,475 to €340,049
of which Non-distributable reserves: +€7,574
- Gross operating margin -€44,498
down €44,498 (-80.7%), from €55,129 to €10,631
- Depreciation -€14,892
down €14,892 (-98.5%), from €15,123 to €231
- Taxes -€8,828
down €8,828 (-74.4%), from €11,874 to €3,045
- Other operating charges -€3,248
down €3,248 (-84.2%), from €3,857 to €609
- Financial income -€2,223
down €2,223 (-27.8%), from €8,007 to €5,783
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 | €382,788 | €397,364 | +€14,575 | +3.8% |
| Fixed assets | 21/28 | €7,918 | €4,684 | -€3,234 | -40.8% |
| Tangible fixed assets | 22/27 | €7,918 | €4,684 | -€3,234 | -40.8% |
| Land and buildings | 22 | €4,915 | €4,684 | -€231 | -4.7% |
| Other tangible fixed assets | 26 | €3,003 | - | -€3,003 | |
| Current assets | 29/58 | €374,870 | €392,680 | +€17,809 | +4.8% |
| Amounts receivable within one year | 40/41 | €37,872 | €12,216 | -€25,656 | -67.7% |
| Trade receivables | 40 | €34,898 | €7,210 | -€27,688 | -79.3% |
| Other amounts receivable | 41 | €2,973 | €5,006 | +€2,033 | +68.4% |
| Current investments | 50/53 | €305,600 | €355,200 | +€49,600 | +16.2% |
| Cash at bank and in hand | 54/58 | €29,174 | €24,827 | -€4,348 | -14.9% |
| Deferred charges and accrued income | 490/1 | €2,224 | €437 | -€1,787 | -80.4% |
| Total equity and liabilities | 10/49 | €382,788 | €397,364 | +€14,575 | +3.8% |
| Equity | 10/15 | €351,075 | €358,649 | +€7,574 | +2.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €332,475 | €340,049 | +€7,574 | +2.3% |
| Non-distributable reserves | 130/1 | €331,019 | €338,593 | +€7,574 | +2.3% |
| Other | 1319 | €331,019 | €338,593 | +€7,574 | +2.3% |
| Distributable reserves | 133 | €1,456 | €1,456 | = | 0.0% |
| Amounts payable | 17/49 | €31,713 | €38,715 | +€7,002 | +22.1% |
| Amounts payable within one year | 42/48 | €26,757 | €36,844 | +€10,087 | +37.7% |
| Trade debts | 44 | €2,340 | €11,839 | +€9,499 | +406% |
| Suppliers | 440/4 | €2,340 | €11,839 | +€9,499 | +406% |
| Taxes, remuneration and social security | 45 | €8,613 | - | -€8,613 | |
| Taxes | 450/3 | €5,120 | - | -€5,120 | |
| Remuneration and social security | 454/9 | €3,493 | - | -€3,493 | |
| Other amounts payable | 47/48 | €15,804 | €25,005 | +€9,201 | +58.2% |
| Accrued charges and deferred income | 492/3 | €4,956 | €1,871 | -€3,085 | -62.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,123 | €231 | -€14,892 | -98.5% |
| Other operating charges | 640/8 | €3,857 | €609 | -€3,248 | -84.2% |
| Non-recurring operating charges | 66A | - | €3,003 | +€3,003 | |
| Gross operating margin | 9900 | €55,129 | €10,631 | -€44,498 | -80.7% |
| Operating profit (loss) | 9901 | €36,149 | €6,788 | -€29,361 | -81.2% |
| Financial income | 75/76B | €8,007 | €5,783 | -€2,223 | -27.8% |
| Recurring financial income | 75 | €8,007 | €5,783 | -€2,223 | -27.8% |
| Financial charges | 65/66B | €1,450 | €1,952 | +€502 | +34.6% |
| Recurring financial charges | 65 | €1,450 | €1,952 | +€502 | +34.6% |
| Profit (loss) for the period before taxes | 9903 | €42,705 | €10,619 | -€32,086 | -75.1% |
| Income taxes | 67/77 | €11,874 | €3,045 | -€8,828 | -74.4% |
| Profit (loss) for the period | 9904 | €30,831 | €7,574 | -€23,258 | -75.4% |
| Profit (loss) for the period to be appropriated | 9905 | €30,831 | €7,574 | -€23,258 | -75.4% |
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 28 October 2026 via checked.be.