MD-CONCEPT: 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-CONCEPT
Largest movements
- Financial fixed assets +€29,800
up €29,800 (+201.9%), from €14,760 to €44,560
- Cash -€8,566
down €8,566 (-17.6%), from €48,599 to €40,033
mainly Investment in fixed assets (net) (-€38,721) and Other debts (-€11,415)
- Receivables within one year +€6,723
up €6,723 (+39.4%), from €17,047 to €23,771
of which Trade receivables: +€6,039
- Tangible fixed assets -€4,332
down €4,332 (-29.1%), from €14,869 to €10,538
of which Furniture and vehicles: -€7,882
- Deferred charges and accrued income +€1,327
up €1,327 (+70.7%), from €1,877 to €3,204
- Profit (loss) carried forward +€42,319
up €42,319 (+101.7%), from €41,629 to €83,948
- Other debts -€11,415
down €11,415 (-63.2%), from €18,066 to €6,651
- Current portion of long-term debt -€9,345
down €9,345 (-74.3%), from €12,582 to €3,236
- Tax, wage and social debts +€3,880
up €3,880 (+25.6%), from €15,130 to €19,010
of which Remuneration and social security: +€2,683
- Debts after one year -€3,236
down €3,236 (-100.0%), from €3,236 to €0
- Gross operating margin +€42,901
up €42,901 (+91.3%), from €47,001 to €89,901
- Staff costs +€19,027
new in 2025: €19,027
- Taxes +€5,578
up €5,578 (+77.5%), from €7,199 to €12,777
- Other operating charges -€1,169
down €1,169 (-73.5%), from €1,591 to €421
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 | €97,153 | €122,105 | +€24,952 | +25.7% |
| Fixed assets | 21/28 | €29,629 | €55,098 | +€25,468 | +86.0% |
| Tangible fixed assets | 22/27 | €14,869 | €10,538 | -€4,332 | -29.1% |
| Plant, machinery and equipment | 23 | - | €691 | +€691 | |
| Furniture and vehicles | 24 | €14,869 | €6,987 | -€7,882 | -53.0% |
| Other tangible fixed assets | 26 | - | €2,859 | +€2,859 | |
| Financial fixed assets | 28 | €14,760 | €44,560 | +€29,800 | +201.9% |
| Current assets | 29/58 | €67,523 | €67,007 | -€516 | -0.8% |
| Amounts receivable within one year | 40/41 | €17,047 | €23,771 | +€6,723 | +39.4% |
| Trade receivables | 40 | €15,246 | €21,285 | +€6,039 | +39.6% |
| Other amounts receivable | 41 | €1,801 | €2,485 | +€684 | +38.0% |
| Cash at bank and in hand | 54/58 | €48,599 | €40,033 | -€8,566 | -17.6% |
| Deferred charges and accrued income | 490/1 | €1,877 | €3,204 | +€1,327 | +70.7% |
| Total equity and liabilities | 10/49 | €97,153 | €122,105 | +€24,952 | +25.7% |
| Equity | 10/15 | €46,629 | €88,948 | +€42,319 | +90.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €41,629 | €83,948 | +€42,319 | +101.7% |
| Amounts payable | 17/49 | €50,524 | €33,157 | -€17,367 | -34.4% |
| Amounts payable after more than one year | 17 | €3,236 | €0 | -€3,236 | -100.0% |
| Financial debts | 170/4 | €3,236 | €0 | -€3,236 | -100.0% |
| Amounts payable within one year | 42/48 | €47,288 | €33,157 | -€14,131 | -29.9% |
| Current portion of amounts payable after more than one year | 42 | €12,582 | €3,236 | -€9,345 | -74.3% |
| Trade debts | 44 | €1,511 | €4,261 | +€2,750 | +182.0% |
| Suppliers | 440/4 | €1,511 | €4,261 | +€2,750 | +182.0% |
| Taxes, remuneration and social security | 45 | €15,130 | €19,010 | +€3,880 | +25.6% |
| Taxes | 450/3 | €12,449 | €13,646 | +€1,196 | +9.6% |
| Remuneration and social security | 454/9 | €2,680 | €5,364 | +€2,683 | +100.1% |
| Other amounts payable | 47/48 | €18,066 | €6,651 | -€11,415 | -63.2% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | - | €19,027 | +€19,027 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,468 | €13,252 | +€784 | +6.3% |
| Other operating charges | 640/8 | €1,591 | €421 | -€1,169 | -73.5% |
| Gross operating margin | 9900 | €47,001 | €89,901 | +€42,901 | +91.3% |
| Operating profit (loss) | 9901 | €32,942 | €57,201 | +€24,258 | +73.6% |
| Financial income | 75/76B | €0 | €1 | +€1 | +8300.0% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +8300.0% |
| Financial charges | 65/66B | €1,611 | €2,106 | +€495 | +30.7% |
| Recurring financial charges | 65 | €1,611 | €2,106 | +€495 | +30.7% |
| Profit (loss) for the period before taxes | 9903 | €31,331 | €55,096 | +€23,765 | +75.9% |
| Income taxes | 67/77 | €7,199 | €12,777 | +€5,578 | +77.5% |
| Profit (loss) for the period | 9904 | €24,133 | €42,319 | +€18,187 | +75.4% |
| Profit (loss) for the period to be appropriated | 9905 | €24,133 | €42,319 | +€18,187 | +75.4% |
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 10 October 2026 via checked.be.