MD BATIMENT: 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.
MD BATIMENT
Largest movements
- Receivables within one year -€12,015
down €12,015 (-20.4%), from €58,822 to €46,807
of which Trade receivables: -€10,876
- Cash -€3,853
down €3,853 (-18.6%), from €20,722 to €16,869
mainly Investment in fixed assets (net) (-€11,895) and Net result for the year (-€9,868)
- Profit (loss) carried forward -€9,868
down €9,868 (-94.1%), from €10,483 to €615
- Current portion of long-term debt -€7,219
down €7,219 (-60.7%), from €11,894 to €4,674
- Trade debts +€5,117
new in 2025: €5,117
- Debts after one year -€3,805
down €3,805 (-2.0%), from €193,388 to €189,583
- Gross operating margin -€17,964
down €17,964 (-67.2%), from €26,729 to €8,765
- Depreciation -€4,209
down €4,209 (-27.3%), from €15,395 to €11,186
- Financial charges +€3,119
up €3,119 (+77.2%), from €4,041 to €7,161
- Other operating charges -€398
down €398 (-53.8%), from €739 to €342
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 | €258,402 | €243,247 | -€15,155 | -5.9% |
| Fixed assets | 21/28 | €174,301 | €175,009 | +€709 | +0.4% |
| Tangible fixed assets | 22/27 | €174,301 | €175,009 | +€709 | +0.4% |
| Land and buildings | 22 | €158,551 | €151,988 | -€6,562 | -4.1% |
| Plant, machinery and equipment | 23 | €6,802 | €8,123 | +€1,321 | +19.4% |
| Furniture and vehicles | 24 | €338 | €5,162 | +€4,824 | +1425.6% |
| Other tangible fixed assets | 26 | €8,610 | €9,735 | +€1,126 | +13.1% |
| Current assets | 29/58 | €84,101 | €68,238 | -€15,863 | -18.9% |
| Amounts receivable within one year | 40/41 | €58,822 | €46,807 | -€12,015 | -20.4% |
| Trade receivables | 40 | €37,183 | €26,307 | -€10,876 | -29.2% |
| Other amounts receivable | 41 | €21,639 | €20,500 | -€1,139 | -5.3% |
| Current investments | 50/53 | €2,736 | €2,736 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €20,722 | €16,869 | -€3,853 | -18.6% |
| Deferred charges and accrued income | 490/1 | €1,821 | €1,826 | +€5 | +0.3% |
| Total equity and liabilities | 10/49 | €258,402 | €243,247 | -€15,155 | -5.9% |
| Equity | 10/15 | €50,483 | €40,615 | -€9,868 | -19.5% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,483 | €615 | -€9,868 | -94.1% |
| Amounts payable | 17/49 | €207,919 | €202,633 | -€5,286 | -2.5% |
| Amounts payable after more than one year | 17 | €193,388 | €189,583 | -€3,805 | -2.0% |
| Financial debts | 170/4 | €193,388 | €189,583 | -€3,805 | -2.0% |
| Amounts payable within one year | 42/48 | €14,531 | €13,050 | -€1,481 | -10.2% |
| Current portion of amounts payable after more than one year | 42 | €11,894 | €4,674 | -€7,219 | -60.7% |
| Trade debts | 44 | - | €5,117 | +€5,117 | |
| Suppliers | 440/4 | €0 | €5,117 | +€5,117 | |
| Taxes, remuneration and social security | 45 | €1,550 | €2,246 | +€696 | +44.9% |
| Taxes | 450/3 | - | €696 | +€696 | |
| Remuneration and social security | 454/9 | €1,550 | €1,550 | = | 0.0% |
| Other amounts payable | 47/48 | €1,087 | €1,013 | -€74 | -6.8% |
| Remuneration, social security and pensions | 62 | €64 | - | -€64 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,395 | €11,186 | -€4,209 | -27.3% |
| Other operating charges | 640/8 | €739 | €342 | -€398 | -53.8% |
| Gross operating margin | 9900 | €26,729 | €8,765 | -€17,964 | -67.2% |
| Operating profit (loss) | 9901 | €10,531 | -€2,762 | -€13,293 | |
| Financial income | 75/76B | €0 | €55 | +€54 | +181633.3% |
| Recurring financial income | 75 | €0 | €55 | +€54 | +181633.3% |
| Financial charges | 65/66B | €4,041 | €7,161 | +€3,119 | +77.2% |
| Recurring financial charges | 65 | €4,041 | €7,161 | +€3,119 | +77.2% |
| Profit (loss) for the period before taxes | 9903 | €6,490 | -€9,868 | -€16,358 | |
| Profit (loss) for the period | 9904 | €6,490 | -€9,868 | -€16,358 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,490 | -€9,868 | -€16,358 |
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 8 October 2026 via checked.be.