MD HABILITIES: 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 HABILITIES
Largest movements
- Cash -€9,501
down €9,501 (-6.5%), from €145,073 to €135,573
mainly Contributions, distributions and other (-€131,285) and Tax, wage and social debts (-€28,760)
- Deferred charges and accrued income +€6,734
up €6,734 (+88.7%), from €7,594 to €14,328
- Tangible fixed assets -€2,802
down €2,802 (-19.6%), from €14,327 to €11,525
of which Leasing and similar rights: -€5,262
- Other debts +€133,403
up €133,403 (+4121.1%), from €3,237 to €136,640
- Reserves -€105,679
down €105,679 (-86.2%), from €122,579 to €16,900
- Tax, wage and social debts -€28,760
down €28,760 (-98.4%), from €29,240 to €480
of which Taxes: -€29,040
- Debts after one year -€5,212
down €5,212 (-53.1%), from €9,808 to €4,597
- Financial charges +€35,160
up €35,160 (+6933.3%), from €507 to €35,667
- Taxes -€8,828
down €8,828 (-53.5%), from €16,509 to €7,681
- Gross operating margin -€5,540
down €5,540 (-6.8%), from €82,038 to €76,499
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 | €173,281 | €168,167 | -€5,113 | -3.0% |
| Fixed assets | 21/28 | €14,327 | €11,525 | -€2,802 | -19.6% |
| Tangible fixed assets | 22/27 | €14,327 | €11,525 | -€2,802 | -19.6% |
| Plant, machinery and equipment | 23 | - | €1,815 | +€1,815 | |
| Furniture and vehicles | 24 | €296 | €941 | +€645 | +217.5% |
| Leasing and similar rights | 25 | €14,031 | €8,769 | -€5,262 | -37.5% |
| Current assets | 29/58 | €158,954 | €156,642 | -€2,311 | -1.5% |
| Amounts receivable within one year | 40/41 | €6,286 | €6,742 | +€455 | +7.2% |
| Trade receivables | 40 | €67 | €204 | +€137 | +204.1% |
| Other amounts receivable | 41 | €6,219 | €6,538 | +€319 | +5.1% |
| Cash at bank and in hand | 54/58 | €145,073 | €135,573 | -€9,501 | -6.5% |
| Deferred charges and accrued income | 490/1 | €7,594 | €14,328 | +€6,734 | +88.7% |
| Total equity and liabilities | 10/49 | €173,281 | €168,167 | -€5,113 | -3.0% |
| Equity | 10/15 | €125,079 | €19,400 | -€105,679 | -84.5% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €122,579 | €16,900 | -€105,679 | -86.2% |
| Distributable reserves | 133 | €122,579 | €16,900 | -€105,679 | -86.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €48,202 | €148,767 | +€100,566 | +208.6% |
| Amounts payable after more than one year | 17 | €9,808 | €4,597 | -€5,212 | -53.1% |
| Financial debts | 170/4 | €9,808 | €4,597 | -€5,212 | -53.1% |
| Amounts payable within one year | 42/48 | €38,309 | €143,415 | +€105,106 | +274.4% |
| Current portion of amounts payable after more than one year | 42 | €5,442 | €5,212 | -€230 | -4.2% |
| Trade debts | 44 | €390 | €1,083 | +€693 | +177.7% |
| Suppliers | 440/4 | €390 | €1,083 | +€693 | +177.7% |
| Taxes, remuneration and social security | 45 | €29,240 | €480 | -€28,760 | -98.4% |
| Taxes | 450/3 | €29,040 | €0 | -€29,040 | -100.0% |
| Remuneration and social security | 454/9 | €200 | €480 | +€280 | +140.0% |
| Other amounts payable | 47/48 | €3,237 | €136,640 | +€133,403 | +4121.1% |
| Accrued charges and deferred income | 492/3 | €85 | €756 | +€671 | +788.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,638 | €6,103 | +€465 | +8.2% |
| Other operating charges | 640/8 | €1,260 | €1,441 | +€181 | +14.3% |
| Gross operating margin | 9900 | €82,038 | €76,499 | -€5,540 | -6.8% |
| Operating profit (loss) | 9901 | €75,140 | €68,954 | -€6,185 | -8.2% |
| Financial charges | 65/66B | €507 | €35,667 | +€35,160 | +6933.3% |
| Recurring financial charges | 65 | €507 | €35,667 | +€35,160 | +6933.3% |
| Profit (loss) for the period before taxes | 9903 | €74,633 | €33,287 | -€41,346 | -55.4% |
| Income taxes | 67/77 | €16,509 | €7,681 | -€8,828 | -53.5% |
| Profit (loss) for the period | 9904 | €58,124 | €25,606 | -€32,518 | -55.9% |
| Profit (loss) for the period to be appropriated | 9905 | €58,124 | €25,606 | -€32,518 | -55.9% |
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 9 October 2026 via checked.be.