MD BUSINESS: 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 BUSINESS
Largest movements
- Receivables within one year +€48,041
up €48,041 (+106%), from €45,111 to €93,152
of which Other amounts receivable: +€50,697
- Receivables after one year +€3,509
up €3,509 (+2.8%), from €123,999 to €127,508
- Trade debts +€28,993
up €28,993 (+38.5%), from €75,333 to €104,326
- Other debts +€9,833
up €9,833 (+61.5%), from €16,000 to €25,833
- Tax, wage and social debts +€8,089
up €8,089 (+72.6%), from €11,139 to €19,228
- Profit (loss) carried forward +€6,273
up €6,273 (+48.8%), from €12,843 to €19,116
- Current portion of long-term debt -€3,118
no longer reported in 2024 (was €3,118)
- Gross operating margin +€15,791
up €15,791 (+48.3%), from €32,662 to €48,453
- Financial income +€3,831
up €3,831 (+112%), from €3,422 to €7,253
- Taxes +€2,156
up €2,156 (+80.3%), from €2,685 to €4,841
- Other operating charges +€2,132
up €2,132 (+542%), from €394 to €2,525
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €171,535 | €221,862 | +€50,327 | +29.3% |
| Fixed assets | 21/28 | €2,419 | €1,186 | -€1,233 | -51.0% |
| Tangible fixed assets | 22/27 | €2,219 | €986 | -€1,233 | -55.6% |
| Furniture and vehicles | 24 | €559 | €88 | -€471 | -84.3% |
| Other tangible fixed assets | 26 | €1,659 | €898 | -€761 | -45.9% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €169,116 | €220,676 | +€51,560 | +30.5% |
| Amounts receivable after more than one year | 29 | €123,999 | €127,508 | +€3,509 | +2.8% |
| Other amounts receivable | 291 | €123,999 | €127,508 | +€3,509 | +2.8% |
| Amounts receivable within one year | 40/41 | €45,111 | €93,152 | +€48,041 | +106% |
| Trade receivables | 40 | €21,232 | €18,576 | -€2,656 | -12.5% |
| Other amounts receivable | 41 | €23,879 | €74,576 | +€50,697 | +212% |
| Cash at bank and in hand | 54/58 | €6 | €16 | +€10 | +151% |
| Total equity and liabilities | 10/49 | €171,535 | €221,862 | +€50,327 | +29.3% |
| Equity | 10/15 | €31,393 | €37,666 | +€6,273 | +20.0% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Profit (loss) carried forward | 14 | €12,843 | €19,116 | +€6,273 | +48.8% |
| Amounts payable | 17/49 | €140,142 | €184,197 | +€44,055 | +31.4% |
| Amounts payable within one year | 42/48 | €140,142 | €184,197 | +€44,055 | +31.4% |
| Current portion of amounts payable after more than one year | 42 | €3,118 | - | -€3,118 | |
| Financial debts | 43 | €34,552 | €34,809 | +€258 | +0.7% |
| Credit institutions | 430/8 | €8,885 | €9,347 | +€462 | +5.2% |
| Other loans | 439 | €25,667 | €25,462 | -€204 | -0.8% |
| Trade debts | 44 | €75,333 | €104,326 | +€28,993 | +38.5% |
| Suppliers | 440/4 | €75,333 | €104,326 | +€28,993 | +38.5% |
| Taxes, remuneration and social security | 45 | €11,139 | €19,228 | +€8,089 | +72.6% |
| Taxes | 450/3 | €11,139 | €19,228 | +€8,089 | +72.6% |
| Other amounts payable | 47/48 | €16,000 | €25,833 | +€9,833 | +61.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,233 | €1,233 | = | 0.0% |
| Other operating charges | 640/8 | €394 | €2,525 | +€2,132 | +542% |
| Gross operating margin | 9900 | €32,662 | €48,453 | +€15,791 | +48.3% |
| Operating profit (loss) | 9901 | €31,036 | €44,695 | +€13,659 | +44.0% |
| Financial income | 75/76B | €3,422 | €7,253 | +€3,831 | +112% |
| Recurring financial income | 75 | €3,422 | €7,253 | +€3,831 | +112% |
| Financial charges | 65/66B | €14,778 | €15,001 | +€223 | +1.5% |
| Recurring financial charges | 65 | €14,778 | €15,001 | +€223 | +1.5% |
| Profit (loss) for the period before taxes | 9903 | €19,679 | €36,946 | +€17,267 | +87.7% |
| Income taxes | 67/77 | €2,685 | €4,841 | +€2,156 | +80.3% |
| Profit (loss) for the period | 9904 | €16,995 | €32,106 | +€15,111 | +88.9% |
| Profit (loss) for the period to be appropriated | 9905 | €16,995 | €32,106 | +€15,111 | +88.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.