MD CENTER: 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.
What changed
MD CENTER
NACE 46.831, Wholesale of construction materials, general range
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€82,933
2024 · -€161,419+€244,353
Equity
€714,488
2024 · €636,670+€77,817
Cash
€17,379
2024 · €65,684-€48,305
Balance sheet total
€4.5m
2024 · €4.9m-€380,693
Largest movements
Assets
- Tangible fixed assets -€160,755
down €160,755 (-10.3%), from €1.6m to €1.4m
- Receivables within one year -€158,744
down €158,744 (-7.0%), from €2.3m to €2.1m
of which Trade receivables: -€201,517
Equity and liabilities
- Tax, wage and social debts -€288,157
down €288,157 (-60.3%), from €477,525 to €189,368
of which Taxes: -€238,628
- Debts after one year -€266,880
down €266,880 (-28.6%), from €931,915 to €665,035
- Trade debts +€244,645
up €244,645 (+21.4%), from €1.1m to €1.4m
- Current portion of long-term debt -€124,673
down €124,673 (-31.2%), from €399,479 to €274,807
- Profit (loss) carried forward +€82,933
up €82,933 (+25.8%), from €321,347 to €404,280
Income statement
- Gross operating margin +€240,798
up €240,798 (+26.0%), from €924,488 to €1.2m
- Staff costs -€114,416
down €114,416 (-13.6%), from €839,433 to €725,016
- Financial income -€88,927
down €88,927 (-60.2%), from €147,684 to €58,757
- Write-downs +€25,850
up €25,850, from -€17,050 to €8,800
- Depreciation -€15,334
down €15,334 (-6.9%), from €220,648 to €205,314
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.
Result 2024
-€161,419
Gross operating margin
+€240,798
Staff costs
+€114,416
Depreciation
+€15,334
Write-downs
-€25,850
Other operating charges
-€2,843
Financial income
-€88,927
Financial charges
-€9,715
Taxes
+€1,138
Result 2025
€82,933
raises the resultlowers the result
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.
From operations
+€356,702
Investment
-€12,712
Financing
-€392,295
Cash 2024
€65,684
From operations (derived)
+€356,702
Net result for the year
+€82,933
Depreciation
+€205,314
Stocks and contracts
-€31,603
Receivables within one year
+€158,744
Deferred charges and accrued income
+€12,645
Trade debts
+€244,645
Tax, wage and social debts
-€288,157
Advances received
-€36,829
Other debts
+€23,735
Accrued charges and deferred income
-€14,725
Investment (derived)
-€12,712
Investment in fixed assets (net)
-€12,712
Financing
-€392,295
Debts after one year
-€266,880
Current portion of long-term debt
-€124,673
Short-term financial debts
+€4,374
Contributions, distributions and other
-€5,116
Cash 2025
€17,379
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,920,365 | €4,539,672 | -€380,693 | -7.7% |
| Fixed assets | 21/28 | €1,659,337 | €1,466,735 | -€192,602 | -11.6% |
| Intangible fixed assets | 21 | €84,048 | €59,552 | -€24,497 | -29.1% |
| Tangible fixed assets | 22/27 | €1,567,939 | €1,407,184 | -€160,755 | -10.3% |
| Land and buildings | 22 | €863,053 | €802,799 | -€60,254 | -7.0% |
| Plant, machinery and equipment | 23 | €9,443 | €6,659 | -€2,783 | -29.5% |
| Furniture and vehicles | 24 | €46,651 | €38,624 | -€8,027 | -17.2% |
| Leasing and similar rights | 25 | €605,910 | €544,800 | -€61,110 | -10.1% |
| Other tangible fixed assets | 26 | €42,882 | €14,301 | -€28,581 | -66.7% |
| Financial fixed assets | 28 | €7,350 | - | -€7,350 | |
| Current assets | 29/58 | €3,261,028 | €3,072,937 | -€188,091 | -5.8% |
| Stocks and contracts in progress | 3 | €915,737 | €947,340 | +€31,603 | +3.5% |
| Stocks | 30/36 | €915,737 | €947,340 | +€31,603 | +3.5% |
| Amounts receivable within one year | 40/41 | €2,262,189 | €2,103,445 | -€158,744 | -7.0% |
| Trade receivables | 40 | €690,802 | €489,285 | -€201,517 | -29.2% |
| Other amounts receivable | 41 | €1,571,387 | €1,614,159 | +€42,772 | +2.7% |
| Cash at bank and in hand | 54/58 | €65,684 | €17,379 | -€48,305 | -73.5% |
| Deferred charges and accrued income | 490/1 | €17,418 | €4,773 | -€12,645 | -72.6% |
| Total equity and liabilities | 10/49 | €4,920,365 | €4,539,672 | -€380,693 | -7.7% |
| Equity | 10/15 | €636,670 | €714,488 | +€77,817 | +12.2% |
| Contributions | 10/11 | €88,002 | €88,002 | = | 0.0% |
| Capital | 10 | €88,002 | €88,002 | = | 0.0% |
| Issued capital | 100 | €88,002 | €88,002 | = | 0.0% |
| Reserves | 13 | €176,359 | €176,359 | = | 0.0% |
| Non-distributable reserves | 130/1 | €8,800 | €8,800 | = | 0.0% |
| Legal reserve | 130 | €8,800 | €8,800 | = | 0.0% |
| Distributable reserves | 133 | €167,559 | €167,559 | = | 0.0% |
| Profit (loss) carried forward | 14 | €321,347 | €404,280 | +€82,933 | +25.8% |
| Investment grants | 15 | €50,962 | €45,846 | -€5,116 | -10.0% |
| Amounts payable | 17/49 | €4,283,694 | €3,825,184 | -€458,510 | -10.7% |
| Amounts payable after more than one year | 17 | €931,915 | €665,035 | -€266,880 | -28.6% |
| Financial debts | 170/4 | €931,915 | €665,035 | -€266,880 | -28.6% |
| Amounts payable within one year | 42/48 | €3,334,537 | €3,157,632 | -€176,905 | -5.3% |
| Current portion of amounts payable after more than one year | 42 | €399,479 | €274,807 | -€124,673 | -31.2% |
| Financial debts | 43 | €835,047 | €839,421 | +€4,374 | +0.5% |
| Credit institutions | 430/8 | €835,047 | €839,421 | +€4,374 | +0.5% |
| Trade debts | 44 | €1,143,302 | €1,387,947 | +€244,645 | +21.4% |
| Suppliers | 440/4 | €1,143,302 | €1,387,947 | +€244,645 | +21.4% |
| Advances received on contracts in progress | 46 | €379,277 | €342,448 | -€36,829 | -9.7% |
| Taxes, remuneration and social security | 45 | €477,525 | €189,368 | -€288,157 | -60.3% |
| Taxes | 450/3 | €342,031 | €103,403 | -€238,628 | -69.8% |
| Remuneration and social security | 454/9 | €135,494 | €85,965 | -€49,530 | -36.6% |
| Other amounts payable | 47/48 | €99,907 | €123,642 | +€23,735 | +23.8% |
| Accrued charges and deferred income | 492/3 | €17,242 | €2,517 | -€14,725 | -85.4% |
| Non-recurring operating income | 76A | €282 | - | -€282 | |
| Remuneration, social security and pensions | 62 | €839,433 | €725,016 | -€114,416 | -13.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €220,648 | €205,314 | -€15,334 | -6.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€17,050 | €8,800 | +€25,850 | |
| Other operating charges | 640/8 | €48,483 | €51,326 | +€2,843 | +5.9% |
| Gross operating margin | 9900 | €924,488 | €1,165,286 | +€240,798 | +26.0% |
| Operating profit (loss) | 9901 | -€167,026 | €174,829 | +€341,856 | |
| Financial income | 75/76B | €147,684 | €58,757 | -€88,927 | -60.2% |
| Recurring financial income | 75 | €147,684 | €58,757 | -€88,927 | -60.2% |
| Financial charges | 65/66B | €140,075 | €149,789 | +€9,715 | +6.9% |
| Recurring financial charges | 65 | €140,075 | €149,789 | +€9,715 | +6.9% |
| Profit (loss) for the period before taxes | 9903 | -€159,417 | €83,797 | +€243,214 | |
| Income taxes | 67/77 | €2,002 | €864 | -€1,138 | -56.9% |
| Profit (loss) for the period | 9904 | -€161,419 | €82,933 | +€244,353 | |
| Profit (loss) for the period to be appropriated | 9905 | -€161,419 | €82,933 | +€244,353 |
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 20 October 2026 via checked.be.