MD BUILDING GROUP: 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.
MD BUILDING GROUP
Largest movements
- Receivables within one year +€2.9m
new in 2025: €2.9m
- Profit (loss) carried forward +€2.7m
up €2.7m, from -€596,104 to €2.1m
- Debts after one year -€1.6m
down €1.6m (-29.5%), from €5.3m to €3.7m
- Other debts +€1.5m
up €1.5m (+55.4%), from €2.7m to €4.2m
- Accrued charges and deferred income +€162,729
up €162,729 (+58.4%), from €278,673 to €441,402
- Financial income +€3.0m
new in 2025: €3.0m
- Financial charges -€269,738
down €269,738 (-45.8%), from €588,343 to €318,605
- Gross operating margin +€3,643
up €3,643 (+47.7%), from -€7,643 to -€4,000
- Other operating charges +€891
up €891 (+754.9%), from €118 to €1,009
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 | €12,127,900 | €14,982,650 | +€2.9m | +23.5% |
| Fixed assets | 21/28 | €12,000,000 | €12,000,000 | = | 0.0% |
| Financial fixed assets | 28 | €12,000,000 | €12,000,000 | = | 0.0% |
| Current assets | 29/58 | €127,900 | €2,982,650 | +€2.9m | +2232.0% |
| Amounts receivable within one year | 40/41 | - | €2,865,000 | +€2.9m | |
| Other amounts receivable | 41 | - | €2,865,000 | +€2.9m | |
| Cash at bank and in hand | 54/58 | €127,900 | €117,650 | -€10,250 | -8.0% |
| Total equity and liabilities | 10/49 | €12,127,900 | €14,982,650 | +€2.9m | +23.5% |
| Equity | 10/15 | €1,803,896 | €4,480,282 | +€2.7m | +148.4% |
| Contributions | 10/11 | €2,400,000 | €2,400,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€596,104 | €2,080,282 | +€2.7m | |
| Amounts payable | 17/49 | €10,324,004 | €10,502,368 | +€178,363 | +1.7% |
| Amounts payable after more than one year | 17 | €5,255,827 | €3,703,012 | -€1.6m | -29.5% |
| Financial debts | 170/4 | €5,255,827 | €3,703,012 | -€1.6m | -29.5% |
| Amounts payable within one year | 42/48 | €4,789,505 | €6,357,954 | +€1.6m | +32.7% |
| Current portion of amounts payable after more than one year | 42 | €2,079,505 | €2,147,954 | +€68,449 | +3.3% |
| Other amounts payable | 47/48 | €2,710,000 | €4,210,000 | +€1.5m | +55.4% |
| Accrued charges and deferred income | 492/3 | €278,673 | €441,402 | +€162,729 | +58.4% |
| Other operating charges | 640/8 | €118 | €1,009 | +€891 | +754.9% |
| Gross operating margin | 9900 | -€7,643 | -€4,000 | +€3,643 | +47.7% |
| Operating profit (loss) | 9901 | -€7,761 | -€5,009 | +€2,752 | +35.5% |
| Financial income | 75/76B | - | €3,000,000 | +€3.0m | |
| Recurring financial income | 75 | - | €3,000,000 | +€3.0m | |
| Financial charges | 65/66B | €588,343 | €318,605 | -€269,738 | -45.8% |
| Recurring financial charges | 65 | €588,343 | €318,605 | -€269,738 | -45.8% |
| Profit (loss) for the period before taxes | 9903 | -€596,104 | €2,676,386 | +€3.3m | |
| Profit (loss) for the period | 9904 | -€596,104 | €2,676,386 | +€3.3m | |
| Profit (loss) for the period to be appropriated | 9905 | -€596,104 | €2,676,386 | +€3.3m |
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 12 October 2026 via checked.be.