MD FISC: 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 FISC
Largest movements
- Cash +€91,399
up €91,399 (+148%), from €61,638 to €153,037
mainly Other debts (+€99,062) and Net result for the year (+€42,470)
- Intangible fixed assets -€7,500
down €7,500 (-12.1%), from €62,202 to €54,702
- Receivables within one year -€6,801
down €6,801 (-24.0%), from €28,293 to €21,492
- Deferred charges and accrued income +€2,720
up €2,720 (+306%), from €890 to €3,611
- Other debts +€99,062
up €99,062 (+11,913%), from €832 to €99,894
- Profit (loss) carried forward -€32,530
down €32,530 (-53.3%), from €61,011 to €28,481
- Tax, wage and social debts +€27,935
up €27,935 (+109%), from €25,596 to €53,531
of which Taxes: +€20,977
- Debts after one year -€15,077
down €15,077 (-32.2%), from €46,869 to €31,792
- Gross operating margin +€53,585
up €53,585 (+93.9%), from €57,064 to €110,649
- Staff costs +€31,601
up €31,601 (+282%), from €11,208 to €42,809
- Taxes +€4,898
up €4,898 (+72.8%), from €6,727 to €11,625
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 | €153,023 | €232,842 | +€79,819 | +52.2% |
| Fixed assets | 21/28 | €62,202 | €54,702 | -€7,500 | -12.1% |
| Intangible fixed assets | 21 | €62,202 | €54,702 | -€7,500 | -12.1% |
| Current assets | 29/58 | €90,821 | €178,140 | +€87,319 | +96.1% |
| Amounts receivable within one year | 40/41 | €28,293 | €21,492 | -€6,801 | -24.0% |
| Trade receivables | 40 | €28,293 | €21,492 | -€6,801 | -24.0% |
| Cash at bank and in hand | 54/58 | €61,638 | €153,037 | +€91,399 | +148% |
| Deferred charges and accrued income | 490/1 | €890 | €3,611 | +€2,720 | +306% |
| Total equity and liabilities | 10/49 | €153,023 | €232,842 | +€79,819 | +52.2% |
| Equity | 10/15 | €64,011 | €31,481 | -€32,530 | -50.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €61,011 | €28,481 | -€32,530 | -53.3% |
| Amounts payable | 17/49 | €89,012 | €201,362 | +€112,349 | +126% |
| Amounts payable after more than one year | 17 | €46,869 | €31,792 | -€15,077 | -32.2% |
| Financial debts | 170/4 | €46,869 | €31,792 | -€15,077 | -32.2% |
| Amounts payable within one year | 42/48 | €42,144 | €169,570 | +€127,426 | +302% |
| Current portion of amounts payable after more than one year | 42 | €14,556 | €15,077 | +€521 | +3.6% |
| Trade debts | 44 | €1,161 | €1,068 | -€92 | -7.9% |
| Suppliers | 440/4 | €1,161 | €1,068 | -€92 | -7.9% |
| Taxes, remuneration and social security | 45 | €25,596 | €53,531 | +€27,935 | +109% |
| Taxes | 450/3 | €23,884 | €44,861 | +€20,977 | +87.8% |
| Remuneration and social security | 454/9 | €1,712 | €8,670 | +€6,957 | +406% |
| Other amounts payable | 47/48 | €832 | €99,894 | +€99,062 | +11,913% |
| Remuneration, social security and pensions | 62 | €11,208 | €42,809 | +€31,601 | +282% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,500 | €7,500 | = | 0.0% |
| Other operating charges | 640/8 | €243 | €259 | +€15 | +6.4% |
| Gross operating margin | 9900 | €57,064 | €110,649 | +€53,585 | +93.9% |
| Operating profit (loss) | 9901 | €38,113 | €60,082 | +€21,969 | +57.6% |
| Financial income | 75/76B | €102 | €93 | -€9 | -8.8% |
| Recurring financial income | 75 | €102 | €93 | -€9 | -8.8% |
| Financial charges | 65/66B | €6,919 | €6,080 | -€839 | -12.1% |
| Recurring financial charges | 65 | €6,919 | €6,080 | -€839 | -12.1% |
| Profit (loss) for the period before taxes | 9903 | €31,296 | €54,095 | +€22,799 | +72.8% |
| Income taxes | 67/77 | €6,727 | €11,625 | +€4,898 | +72.8% |
| Profit (loss) for the period | 9904 | €24,569 | €42,470 | +€17,900 | +72.9% |
| Profit (loss) for the period to be appropriated | 9905 | €24,569 | €42,470 | +€17,900 | +72.9% |
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 22 October 2026 via checked.be.