MD CUBE: 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.
What changed
MD CUBE
NACE 62.200, Computer consultancy and computer facilities management
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€44,325
2024 · €3,134+€41,191
Equity
€143,731
2024 · €99,406+€44,325
Cash
€10,776
2024 · €1,226+€9,550
Balance sheet total
€1.3m
2024 · €1.3m-€26,225
Largest movements
Assets
- Tangible fixed assets -€42,845
down €42,845 (-3.4%), from €1.2m to €1.2m
of which Land and buildings: -€28,098
Equity and liabilities
- Other debts -€53,616
down €53,616 (-38.9%), from €137,848 to €84,232
- Debts after one year -€51,183
down €51,183 (-5.4%), from €954,455 to €903,272
- Reserves +€44,325
up €44,325 (+68.4%), from €64,788 to €109,113
of which Distributable reserves: +€23,907
- Current portion of long-term debt +€23,802
up €23,802 (+90.9%), from €26,176 to €49,978
- Tax, wage and social debts +€15,936
up €15,936 (+131.6%), from €12,110 to €28,045
of which Taxes: +€15,936
Income statement
- Financial income +€34,690
new in 2025: €34,690
- Gross operating margin +€34,235
up €34,235 (+34.9%), from €98,121 to €132,356
- Taxes +€10,408
up €10,408 (+285.5%), from €3,645 to €14,053
- Depreciation +€9,209
up €9,209 (+18.7%), from €49,294 to €58,503
- Financial charges +€2,954
up €2,954 (+7.9%), from €37,232 to €40,186
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
€3,134
Gross operating margin
+€34,235
Depreciation
-€9,209
Other operating charges
+€1,643
Financial income
+€34,690
Financial charges
-€2,954
Taxes
-€10,408
Deferred taxes and other
-€6,806
Result 2025
€44,325
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.
From operations
+€52,090
Investment
-€15,658
Financing
-€26,882
Cash 2024
€1,226
From operations (derived)
+€52,090
Net result for the year
+€44,325
Depreciation
+€58,503
Receivables within one year
-€8,834
Deferred charges and accrued income
+€1,765
Provisions
+€6,806
Trade debts
-€12,920
Tax, wage and social debts
+€15,936
Other debts
-€53,616
Accrued charges and deferred income
+€125
Investment (derived)
-€15,658
Investment in fixed assets (net)
-€15,658
Financing
-€26,882
Debts after one year
-€51,183
Current portion of long-term debt
+€23,802
Short-term financial debts
+€499
Cash 2025
€10,776
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,291,927 | €1,265,702 | -€26,225 | -2.0% |
| Fixed assets | 21/28 | €1,247,844 | €1,204,999 | -€42,845 | -3.4% |
| Tangible fixed assets | 22/27 | €1,246,844 | €1,203,999 | -€42,845 | -3.4% |
| Land and buildings | 22 | €1,018,346 | €990,248 | -€28,098 | -2.8% |
| Plant, machinery and equipment | 23 | €222,515 | €211,578 | -€10,937 | -4.9% |
| Furniture and vehicles | 24 | €5,614 | €2,144 | -€3,469 | -61.8% |
| Other tangible fixed assets | 26 | €370 | €29 | -€341 | -92.2% |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €44,084 | €60,703 | +€16,619 | +37.7% |
| Amounts receivable within one year | 40/41 | €40,660 | €49,494 | +€8,834 | +21.7% |
| Trade receivables | 40 | €12,330 | €20,044 | +€7,714 | +62.6% |
| Other amounts receivable | 41 | €28,330 | €29,450 | +€1,120 | +4.0% |
| Cash at bank and in hand | 54/58 | €1,226 | €10,776 | +€9,550 | +779.3% |
| Deferred charges and accrued income | 490/1 | €2,198 | €433 | -€1,765 | -80.3% |
| Total equity and liabilities | 10/49 | €1,291,927 | €1,265,702 | -€26,225 | -2.0% |
| Equity | 10/15 | €99,406 | €143,731 | +€44,325 | +44.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €64,788 | €109,113 | +€44,325 | +68.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €20,418 | +€20,418 | |
| Distributable reserves | 133 | €62,928 | €86,835 | +€23,907 | +38.0% |
| Profit (loss) carried forward | 14 | €28,418 | €28,418 | = | 0.0% |
| Provisions and deferred taxes | 16 | - | €6,806 | +€6,806 | |
| Deferred taxes | 168 | - | €6,806 | +€6,806 | |
| Amounts payable | 17/49 | €1,192,521 | €1,115,165 | -€77,357 | -6.5% |
| Amounts payable after more than one year | 17 | €954,455 | €903,272 | -€51,183 | -5.4% |
| Financial debts | 170/4 | €954,455 | €903,272 | -€51,183 | -5.4% |
| Amounts payable within one year | 42/48 | €237,971 | €211,672 | -€26,298 | -11.1% |
| Current portion of amounts payable after more than one year | 42 | €26,176 | €49,978 | +€23,802 | +90.9% |
| Financial debts | 43 | €24,231 | €24,730 | +€499 | +2.1% |
| Credit institutions | 430/8 | €24,231 | €24,730 | +€499 | +2.1% |
| Trade debts | 44 | €37,606 | €24,686 | -€12,920 | -34.4% |
| Suppliers | 440/4 | €37,606 | €24,686 | -€12,920 | -34.4% |
| Taxes, remuneration and social security | 45 | €12,110 | €28,045 | +€15,936 | +131.6% |
| Taxes | 450/3 | €12,110 | €28,045 | +€15,936 | +131.6% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €137,848 | €84,232 | -€53,616 | -38.9% |
| Accrued charges and deferred income | 492/3 | €96 | €221 | +€125 | +130.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,294 | €58,503 | +€9,209 | +18.7% |
| Other operating charges | 640/8 | €4,817 | €3,173 | -€1,643 | -34.1% |
| Gross operating margin | 9900 | €98,121 | €132,356 | +€34,235 | +34.9% |
| Operating profit (loss) | 9901 | €44,011 | €70,680 | +€26,669 | +60.6% |
| Financial income | 75/76B | - | €34,690 | +€34,690 | |
| Recurring financial income | 75 | - | €34,690 | +€34,690 | |
| Financial charges | 65/66B | €37,232 | €40,186 | +€2,954 | +7.9% |
| Recurring financial charges | 65 | €37,232 | €40,186 | +€2,954 | +7.9% |
| Profit (loss) for the period before taxes | 9903 | €6,779 | €65,184 | +€58,405 | +861.6% |
| Transfer from deferred taxes | 780 | - | €1,117 | +€1,117 | |
| Transfer to deferred taxes | 680 | - | €7,923 | +€7,923 | |
| Income taxes | 67/77 | €3,645 | €14,053 | +€10,408 | +285.5% |
| Profit (loss) for the period | 9904 | €3,134 | €44,325 | +€41,191 | +1314.4% |
| Transfer from tax-exempt reserves | 789 | - | €3,350 | +€3,350 | |
| Transfer to tax-exempt reserves | 689 | - | €23,768 | +€23,768 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,134 | €23,907 | +€20,773 | +662.9% |
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 7 October 2026 via checked.be.