MD CONSULTING: 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 CONSULTING
Largest movements
- Cash -€44,664
down €44,664 (-37.8%), from €118,084 to €73,420
mainly Contributions, distributions and other (-€212,082) and Investment in fixed assets (net) (-€5,184)
- Tangible fixed assets -€2,557
down €2,557 (-12.7%), from €20,148 to €17,591
of which Furniture and vehicles: -€2,517
- Reserves -€56,748
no longer reported in 2025 (was €56,748)
- Other debts +€11,426
up €11,426 (+16.7%), from €68,246 to €79,672
- Trade debts -€2,013
down €2,013 (-56.2%), from €3,585 to €1,571
No income-statement line moved by more than 1% of the activity.
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €162,313 | €113,868 | -€48,445 | -29.8% |
| Fixed assets | 21/28 | €20,148 | €17,591 | -€2,557 | -12.7% |
| Tangible fixed assets | 22/27 | €20,148 | €17,591 | -€2,557 | -12.7% |
| Furniture and vehicles | 24 | €19,991 | €17,474 | -€2,517 | -12.6% |
| Other tangible fixed assets | 26 | €157 | €116 | -€41 | -25.8% |
| Current assets | 29/58 | €142,165 | €96,278 | -€45,888 | -32.3% |
| Amounts receivable within one year | 40/41 | €20,292 | €20,287 | -€5 | 0.0% |
| Trade receivables | 40 | €20,292 | €20,287 | -€5 | 0.0% |
| Cash at bank and in hand | 54/58 | €118,084 | €73,420 | -€44,664 | -37.8% |
| Deferred charges and accrued income | 490/1 | €3,790 | €2,571 | -€1,219 | -32.2% |
| Total equity and liabilities | 10/49 | €162,313 | €113,868 | -€48,445 | -29.8% |
| Equity | 10/15 | €77,153 | €20,405 | -€56,748 | -73.6% |
| Contributions | 10/11 | €20,405 | €20,405 | = | 0.0% |
| Reserves | 13 | €56,748 | - | -€56,748 | |
| Distributable reserves | 133 | €56,748 | - | -€56,748 | |
| Amounts payable | 17/49 | €85,160 | €93,463 | +€8,303 | +9.8% |
| Amounts payable within one year | 42/48 | €85,160 | €93,463 | +€8,303 | +9.8% |
| Financial debts | 43 | €145 | €268 | +€122 | +84.2% |
| Credit institutions | 430/8 | €145 | €268 | +€122 | +84.2% |
| Trade debts | 44 | €3,585 | €1,571 | -€2,013 | -56.2% |
| Suppliers | 440/4 | €3,585 | €1,571 | -€2,013 | -56.2% |
| Taxes, remuneration and social security | 45 | €13,184 | €11,952 | -€1,232 | -9.3% |
| Taxes | 450/3 | €11,184 | €11,952 | +€768 | +6.9% |
| Remuneration and social security | 454/9 | €2,000 | - | -€2,000 | |
| Other amounts payable | 47/48 | €68,246 | €79,672 | +€11,426 | +16.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,709 | €7,742 | +€1,033 | +15.4% |
| Other operating charges | 640/8 | €798 | €558 | -€240 | -30.1% |
| Gross operating margin | 9900 | €210,222 | €210,442 | +€220 | +0.1% |
| Operating profit (loss) | 9901 | €202,716 | €202,143 | -€573 | -0.3% |
| Financial income | 75/76B | - | €86 | +€86 | |
| Recurring financial income | 75 | - | €86 | +€86 | |
| Financial charges | 65/66B | €234 | €97 | -€137 | -58.4% |
| Recurring financial charges | 65 | €234 | €97 | -€137 | -58.4% |
| Profit (loss) for the period before taxes | 9903 | €202,482 | €202,132 | -€350 | -0.2% |
| Income taxes | 67/77 | €47,132 | €46,798 | -€334 | -0.7% |
| Profit (loss) for the period | 9904 | €155,350 | €155,334 | -€16 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €155,350 | €155,334 | -€16 | 0.0% |
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 19 October 2026 via checked.be.