MD FIX: 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 FIX
Largest movements
- Receivables within one year +€12,019
up €12,019 (+158.3%), from €7,595 to €19,614
of which Trade receivables: +€8,627
- Cash -€3,408
down €3,408 (-51.1%), from €6,673 to €3,265
mainly Receivables within one year (-€12,019) and Tax, wage and social debts (-€9,152)
- Tangible fixed assets +€2,550
up €2,550 (+45.9%), from €5,555 to €8,105
of which Plant, machinery and equipment: +€4,106
- Profit (loss) carried forward +€18,100
up €18,100 (+44.1%), from -€41,088 to -€22,988
- Tax, wage and social debts -€9,152
down €9,152 (-63.5%), from €14,412 to €5,260
of which Remuneration and social security: -€14,100
- Trade debts -€4,978
down €4,978 (-47.9%), from €10,385 to €5,407
- Other debts +€3,790
up €3,790 (+202.0%), from €1,876 to €5,666
- Debts after one year +€2,000
up €2,000 (+15.4%), from €13,000 to €15,000
- Gross operating margin +€14,257
up €14,257 (+79.9%), from €17,843 to €32,100
- Taxes +€4,942
new in 2025: €4,942
- Depreciation +€4,000
up €4,000 (+276.0%), from €1,449 to €5,449
- Write-downs -€2,430
down €2,430 (-100.0%), from €2,430 to €0
- Financial charges +€656
up €656 (+25.6%), from €2,559 to €3,215
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 | €20,036 | €31,197 | +€11,161 | +55.7% |
| Fixed assets | 21/28 | €5,768 | €8,318 | +€2,550 | +44.2% |
| Tangible fixed assets | 22/27 | €5,555 | €8,105 | +€2,550 | +45.9% |
| Land and buildings | 22 | €5,555 | - | -€5,555 | |
| Plant, machinery and equipment | 23 | - | €4,106 | +€4,106 | |
| Furniture and vehicles | 24 | - | €3,999 | +€3,999 | |
| Financial fixed assets | 28 | €213 | €213 | -€0 | -0.1% |
| Current assets | 29/58 | €14,268 | €22,879 | +€8,611 | +60.4% |
| Amounts receivable within one year | 40/41 | €7,595 | €19,614 | +€12,019 | +158.3% |
| Trade receivables | 40 | €7,341 | €15,968 | +€8,627 | +117.5% |
| Other amounts receivable | 41 | €254 | €3,646 | +€3,392 | +1335.5% |
| Cash at bank and in hand | 54/58 | €6,673 | €3,265 | -€3,408 | -51.1% |
| Total equity and liabilities | 10/49 | €20,036 | €31,197 | +€11,161 | +55.7% |
| Equity | 10/15 | -€20,637 | -€2,536 | +€18,101 | +87.7% |
| Contributions | 10/11 | €18,592 | €18,592 | +€0 | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | +€0 | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | - | -€1,859 | |
| Reserves not available under the articles | 1311 | €1,859 | - | -€1,859 | |
| Distributable reserves | 133 | - | €1,859 | +€1,859 | |
| Profit (loss) carried forward | 14 | -€41,088 | -€22,988 | +€18,100 | +44.1% |
| Amounts payable | 17/49 | €40,673 | €33,733 | -€6,940 | -17.1% |
| Amounts payable after more than one year | 17 | €13,000 | €15,000 | +€2,000 | +15.4% |
| Other amounts payable | 178/9 | €13,000 | €15,000 | +€2,000 | +15.4% |
| Amounts payable within one year | 42/48 | €26,673 | €16,333 | -€10,340 | -38.8% |
| Trade debts | 44 | €10,385 | €5,407 | -€4,978 | -47.9% |
| Suppliers | 440/4 | €10,385 | €5,407 | -€4,978 | -47.9% |
| Taxes, remuneration and social security | 45 | €14,412 | €5,260 | -€9,152 | -63.5% |
| Taxes | 450/3 | €312 | €5,260 | +€4,948 | +1586.1% |
| Remuneration and social security | 454/9 | €14,100 | €0 | -€14,100 | -100.0% |
| Other amounts payable | 47/48 | €1,876 | €5,666 | +€3,790 | +202.0% |
| Accrued charges and deferred income | 492/3 | €1,000 | €2,400 | +€1,400 | +140.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,449 | €5,449 | +€4,000 | +276.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,430 | €0 | -€2,430 | -100.0% |
| Other operating charges | 640/8 | €837 | €413 | -€424 | -50.6% |
| Non-recurring operating charges | 66A | - | €400 | +€400 | |
| Gross operating margin | 9900 | €17,843 | €32,100 | +€14,257 | +79.9% |
| Operating profit (loss) | 9901 | €13,127 | €25,839 | +€12,712 | +96.8% |
| Financial income | 75/76B | - | €419 | +€419 | |
| Recurring financial income | 75 | - | €419 | +€419 | |
| Financial charges | 65/66B | €2,559 | €3,215 | +€656 | +25.6% |
| Recurring financial charges | 65 | €2,559 | €3,215 | +€656 | +25.6% |
| Profit (loss) for the period before taxes | 9903 | €10,568 | €23,043 | +€12,475 | +118.0% |
| Income taxes | 67/77 | - | €4,942 | +€4,942 | |
| Profit (loss) for the period | 9904 | €10,568 | €18,101 | +€7,533 | +71.3% |
| Profit (loss) for the period to be appropriated | 9905 | €10,568 | €18,101 | +€7,533 | +71.3% |
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 3 October 2026 via checked.be.