MCD: 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.
MCD
Largest movements
- Tangible fixed assets -€34,071
down €34,071 (-33.0%), from €103,357 to €69,286
of which Furniture and vehicles: -€21,792
- Receivables within one year +€24,248
up €24,248 (+30.0%), from €80,707 to €104,955
of which Other amounts receivable: +€23,821
- Cash -€3,369
down €3,369 (-26.0%), from €12,982 to €9,613
mainly Debts after one year (-€27,679) and Receivables within one year (-€24,248)
- Debts after one year -€27,679
down €27,679 (-31.1%), from €89,009 to €61,330
- Profit (loss) carried forward +€25,988
up €25,988 (+58.5%), from €44,432 to €70,420
- Tax, wage and social debts -€16,587
down €16,587 (-63.7%), from €26,059 to €9,472
- Trade debts +€6,470
up €6,470 (+234.0%), from €2,765 to €9,235
- Gross operating margin -€24,150
down €24,150 (-31.8%), from €76,018 to €51,868
- Taxes -€4,178
down €4,178 (-35.5%), from €11,762 to €7,584
- Depreciation -€1,179
down €1,179 (-7.9%), from €15,015 to €13,836
- Financial charges +€949
up €949 (+81.3%), from €1,167 to €2,115
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.
Cash bridge derived
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 | €228,941 | €217,967 | -€10,974 | -4.8% |
| Fixed assets | 21/28 | €103,357 | €69,286 | -€34,071 | -33.0% |
| Tangible fixed assets | 22/27 | €103,357 | €69,286 | -€34,071 | -33.0% |
| Plant, machinery and equipment | 23 | €15,373 | €11,788 | -€3,585 | -23.3% |
| Furniture and vehicles | 24 | €28,230 | €6,438 | -€21,792 | -77.2% |
| Leasing and similar rights | 25 | €58,862 | €50,248 | -€8,614 | -14.6% |
| Other tangible fixed assets | 26 | €891 | €812 | -€80 | -8.9% |
| Current assets | 29/58 | €125,584 | €148,681 | +€23,097 | +18.4% |
| Amounts receivable after more than one year | 29 | €31,500 | €31,500 | = | 0.0% |
| Other amounts receivable | 291 | €31,500 | €31,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €80,707 | €104,955 | +€24,248 | +30.0% |
| Trade receivables | 40 | €53,519 | €53,946 | +€427 | +0.8% |
| Other amounts receivable | 41 | €27,188 | €51,009 | +€23,821 | +87.6% |
| Cash at bank and in hand | 54/58 | €12,982 | €9,613 | -€3,369 | -26.0% |
| Deferred charges and accrued income | 490/1 | €395 | €2,613 | +€2,218 | +561.9% |
| Total equity and liabilities | 10/49 | €228,941 | €217,967 | -€10,974 | -4.8% |
| Equity | 10/15 | €82,386 | €108,374 | +€25,988 | +31.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €35,954 | €35,954 | = | 0.0% |
| Distributable reserves | 133 | €35,954 | €35,954 | = | 0.0% |
| Profit (loss) carried forward | 14 | €44,432 | €70,420 | +€25,988 | +58.5% |
| Amounts payable | 17/49 | €146,555 | €109,593 | -€36,962 | -25.2% |
| Amounts payable after more than one year | 17 | €89,009 | €61,330 | -€27,679 | -31.1% |
| Financial debts | 170/4 | €89,009 | €61,330 | -€27,679 | -31.1% |
| Amounts payable within one year | 42/48 | €57,546 | €48,263 | -€9,283 | -16.1% |
| Current portion of amounts payable after more than one year | 42 | €26,942 | €27,679 | +€737 | +2.7% |
| Trade debts | 44 | €2,765 | €9,235 | +€6,470 | +234.0% |
| Suppliers | 440/4 | €2,765 | €9,235 | +€6,470 | +234.0% |
| Taxes, remuneration and social security | 45 | €26,059 | €9,472 | -€16,587 | -63.7% |
| Taxes | 450/3 | €26,059 | €9,472 | -€16,587 | -63.7% |
| Other amounts payable | 47/48 | €1,781 | €1,878 | +€97 | +5.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,015 | €13,836 | -€1,179 | -7.9% |
| Other operating charges | 640/8 | €3,034 | €2,949 | -€85 | -2.8% |
| Gross operating margin | 9900 | €76,018 | €51,868 | -€24,150 | -31.8% |
| Operating profit (loss) | 9901 | €57,969 | €35,082 | -€22,886 | -39.5% |
| Financial income | 75/76B | €222 | €604 | +€382 | +172.2% |
| Recurring financial income | 75 | €222 | €604 | +€382 | +172.2% |
| Financial charges | 65/66B | €1,167 | €2,115 | +€949 | +81.3% |
| Recurring financial charges | 65 | €1,167 | €2,115 | +€949 | +81.3% |
| Profit (loss) for the period before taxes | 9903 | €57,024 | €33,571 | -€23,453 | -41.1% |
| Income taxes | 67/77 | €11,762 | €7,584 | -€4,178 | -35.5% |
| Profit (loss) for the period | 9904 | €45,262 | €25,988 | -€19,274 | -42.6% |
| Profit (loss) for the period to be appropriated | 9905 | €45,262 | €25,988 | -€19,274 | -42.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.