MD CREATION: what changed
Two fiscal 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 CREATION
Largest movements
- Stocks and contracts +€30,821
up €30,821 (+246.6%), from €12,500 to €43,321
- Cash -€15,763
down €15,763 (-73.1%), from €21,553 to €5,789
mainly Stocks and contracts (-€30,821) and Receivables within one year (-€11,190)
- Receivables within one year +€11,190
up €11,190 (+106.6%), from €10,493 to €21,683
- Trade debts +€17,302
up €17,302 (+2038.0%), from €849 to €18,151
- Other debts +€14,292
up €14,292 (+55.9%), from €25,578 to €39,870
- Tax, wage and social debts -€5,426
down €5,426 (-27.0%), from €20,104 to €14,677
of which Taxes: -€2,819
- Turnover +€146,814
new in 2025: €146,814
- Purchases and services +€140,401
new in 2025: €140,401
- Gross operating margin -€15,291
down €15,291 (-44.3%), from €34,553 to €19,262
- Other operating charges -€2,860
down €2,860 (-66.0%), from €4,331 to €1,471
- Staff costs -€2,578
down €2,578 (-14.0%), from €18,428 to €15,850
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 | €48,981 | €74,973 | +€25,992 | +53.1% |
| Fixed assets | 21/28 | €4,435 | €4,085 | -€350 | -7.9% |
| Intangible fixed assets | 21 | €4,315 | €3,965 | -€350 | -8.1% |
| Financial fixed assets | 28 | €120 | €120 | = | 0.0% |
| Current assets | 29/58 | €44,546 | €70,888 | +€26,342 | +59.1% |
| Stocks and contracts in progress | 3 | €12,500 | €43,321 | +€30,821 | +246.6% |
| Stocks | 30/36 | €12,500 | €43,321 | +€30,821 | +246.6% |
| Amounts receivable within one year | 40/41 | €10,493 | €21,683 | +€11,190 | +106.6% |
| Other amounts receivable | 41 | €10,493 | €21,683 | +€11,190 | +106.6% |
| Cash at bank and in hand | 54/58 | €21,553 | €5,789 | -€15,763 | -73.1% |
| Deferred charges and accrued income | 490/1 | - | €95 | +€95 | |
| Total equity and liabilities | 10/49 | €48,981 | €74,973 | +€25,992 | +53.1% |
| Equity | 10/15 | €2,450 | €2,214 | -€236 | -9.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€16,150 | -€16,386 | -€236 | -1.5% |
| Amounts payable | 17/49 | €46,531 | €72,759 | +€26,228 | +56.4% |
| Amounts payable within one year | 42/48 | €46,531 | €72,759 | +€26,228 | +56.4% |
| Current portion of amounts payable after more than one year | 42 | - | €60 | +€60 | |
| Trade debts | 44 | €849 | €18,151 | +€17,302 | +2038.0% |
| Suppliers | 440/4 | €849 | €18,151 | +€17,302 | +2038.0% |
| Taxes, remuneration and social security | 45 | €20,104 | €14,677 | -€5,426 | -27.0% |
| Taxes | 450/3 | €17,496 | €14,677 | -€2,819 | -16.1% |
| Remuneration and social security | 454/9 | €2,607 | - | -€2,607 | |
| Other amounts payable | 47/48 | €25,578 | €39,870 | +€14,292 | +55.9% |
| Turnover | 70 | - | €146,814 | +€146,814 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €140,401 | +€140,401 | |
| Remuneration, social security and pensions | 62 | €18,428 | €15,850 | -€2,578 | -14.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €700 | €350 | -€350 | -50.0% |
| Other operating charges | 640/8 | €4,331 | €1,471 | -€2,860 | -66.0% |
| Gross operating margin | 9900 | €34,553 | €19,262 | -€15,291 | -44.3% |
| Operating profit (loss) | 9901 | €11,094 | €1,591 | -€9,503 | -85.7% |
| Financial income | 75/76B | €3 | - | -€3 | |
| Recurring financial income | 75 | €3 | - | -€3 | |
| Financial charges | 65/66B | €4,372 | €1,827 | -€2,545 | -58.2% |
| Recurring financial charges | 65 | €4,372 | €1,827 | -€2,545 | -58.2% |
| Profit (loss) for the period before taxes | 9903 | €6,725 | -€236 | -€6,961 | |
| Profit (loss) for the period | 9904 | €6,725 | -€236 | -€6,961 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,725 | -€236 | -€6,961 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.