MD ENGINEERING & CONSULTING: 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 ENGINEERING & CONSULTING
Largest movements
- Receivables within one year -€31,910
down €31,910 (-25.9%), from €123,403 to €91,493
of which Trade receivables: -€23,839
- Cash -€18,220
down €18,220 (-26.8%), from €67,930 to €49,710
mainly Contributions, distributions and other (-€100,000) and Other debts (-€38,432)
- Tangible fixed assets -€5,602
down €5,602 (-2.7%), from €210,245 to €204,643
of which Land and buildings: -€6,743
- Other debts -€38,432
down €38,432 (-23.4%), from €164,207 to €125,776
- Tax, wage and social debts -€37,984
down €37,984 (-85.8%), from €44,255 to €6,271
of which Taxes: -€19,474
- Profit (loss) carried forward +€27,857
up €27,857 (+42.1%), from €66,201 to €94,057
- Debts after one year -€16,003
down €16,003 (-17.7%), from €90,526 to €74,523
- Trade debts +€9,103
up €9,103 (+389.7%), from €2,336 to €11,438
- Gross operating margin -€105,665
down €105,665 (-30.5%), from €346,427 to €240,761
- Staff costs -€55,903
down €55,903 (-50.8%), from €109,980 to €54,076
- Depreciation -€20,095
down €20,095 (-62.3%), from €32,234 to €12,139
- Taxes -€9,679
down €9,679 (-19.4%), from €49,918 to €40,239
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 | €403,882 | €348,573 | -€55,309 | -13.7% |
| Fixed assets | 21/28 | €210,245 | €204,643 | -€5,602 | -2.7% |
| Tangible fixed assets | 22/27 | €210,245 | €204,643 | -€5,602 | -2.7% |
| Land and buildings | 22 | €200,264 | €193,521 | -€6,743 | -3.4% |
| Furniture and vehicles | 24 | €5,584 | €7,540 | +€1,956 | +35.0% |
| Other tangible fixed assets | 26 | €4,398 | €3,583 | -€815 | -18.5% |
| Current assets | 29/58 | €193,637 | €143,930 | -€49,707 | -25.7% |
| Amounts receivable within one year | 40/41 | €123,403 | €91,493 | -€31,910 | -25.9% |
| Trade receivables | 40 | €105,571 | €81,731 | -€23,839 | -22.6% |
| Other amounts receivable | 41 | €17,832 | €9,761 | -€8,071 | -45.3% |
| Cash at bank and in hand | 54/58 | €67,930 | €49,710 | -€18,220 | -26.8% |
| Deferred charges and accrued income | 490/1 | €2,304 | €2,727 | +€423 | +18.3% |
| Total equity and liabilities | 10/49 | €403,882 | €348,573 | -€55,309 | -13.7% |
| Equity | 10/15 | €86,661 | €114,517 | +€27,857 | +32.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €66,201 | €94,057 | +€27,857 | +42.1% |
| Amounts payable | 17/49 | €317,222 | €234,056 | -€83,166 | -26.2% |
| Amounts payable after more than one year | 17 | €90,526 | €74,523 | -€16,003 | -17.7% |
| Financial debts | 170/4 | €90,526 | €74,523 | -€16,003 | -17.7% |
| Amounts payable within one year | 42/48 | €226,593 | €159,488 | -€67,104 | -29.6% |
| Current portion of amounts payable after more than one year | 42 | €15,795 | €16,003 | +€209 | +1.3% |
| Trade debts | 44 | €2,336 | €11,438 | +€9,103 | +389.7% |
| Suppliers | 440/4 | €2,336 | €11,438 | +€9,103 | +389.7% |
| Taxes, remuneration and social security | 45 | €44,255 | €6,271 | -€37,984 | -85.8% |
| Taxes | 450/3 | €22,555 | €3,081 | -€19,474 | -86.3% |
| Remuneration and social security | 454/9 | €21,700 | €3,190 | -€18,510 | -85.3% |
| Other amounts payable | 47/48 | €164,207 | €125,776 | -€38,432 | -23.4% |
| Accrued charges and deferred income | 492/3 | €103 | €45 | -€58 | -56.2% |
| Remuneration, social security and pensions | 62 | €109,980 | €54,076 | -€55,903 | -50.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,234 | €12,139 | -€20,095 | -62.3% |
| Other operating charges | 640/8 | €4,650 | €4,566 | -€85 | -1.8% |
| Gross operating margin | 9900 | €346,427 | €240,761 | -€105,665 | -30.5% |
| Operating profit (loss) | 9901 | €199,563 | €169,981 | -€29,582 | -14.8% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €2,353 | €1,885 | -€467 | -19.9% |
| Recurring financial charges | 65 | €2,353 | €1,885 | -€467 | -19.9% |
| Profit (loss) for the period before taxes | 9903 | €197,210 | €168,096 | -€29,115 | -14.8% |
| Income taxes | 67/77 | €49,918 | €40,239 | -€9,679 | -19.4% |
| Profit (loss) for the period | 9904 | €147,292 | €127,857 | -€19,436 | -13.2% |
| Profit (loss) for the period to be appropriated | 9905 | €147,292 | €127,857 | -€19,436 | -13.2% |
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 6 October 2026 via checked.be.