MD INCUBATORS: 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 INCUBATORS
Largest movements
- Receivables within one year +€25,311
up €25,311 (+29.5%), from €85,717 to €111,028
of which Other amounts receivable: +€20,247
- Other debts +€25,594
up €25,594 (+32.3%), from €79,217 to €104,812
- Profit (loss) carried forward -€16,914
down €16,914 (-53.5%), from -€31,593 to -€48,507
- Tax, wage and social debts +€15,599
up €15,599 (+2,496%), from €625 to €16,224
- Trade debts +€1,203
up €1,203 (+4.0%), from €30,374 to €31,577
- Taxes +€15,334
up €15,334 (+2,598%), from €590 to €15,924
- Gross operating margin +€10,302
up €10,302 (+93.4%), from -€11,035 to -€732
- Other operating charges -€1,422
down €1,422 (-55.9%), from €2,543 to €1,122
- Financial income +€1,109
new in 2025: €1,109
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 | €86,123 | €111,930 | +€25,807 | +30.0% |
| Fixed assets | 21/28 | - | €846 | +€846 | |
| Financial fixed assets | 28 | - | €846 | +€846 | |
| Current assets | 29/58 | €86,123 | €111,085 | +€24,961 | +29.0% |
| Amounts receivable within one year | 40/41 | €85,717 | €111,028 | +€25,311 | +29.5% |
| Trade receivables | 40 | - | €5,064 | +€5,064 | |
| Other amounts receivable | 41 | €85,717 | €105,964 | +€20,247 | +23.6% |
| Cash at bank and in hand | 54/58 | €406 | €56 | -€350 | -86.1% |
| Total equity and liabilities | 10/49 | €86,123 | €111,930 | +€25,807 | +30.0% |
| Equity | 10/15 | -€24,093 | -€41,007 | -€16,914 | -70.2% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€31,593 | -€48,507 | -€16,914 | -53.5% |
| Amounts payable | 17/49 | €110,216 | €152,937 | +€42,721 | +38.8% |
| Amounts payable within one year | 42/48 | €110,216 | €152,937 | +€42,721 | +38.8% |
| Trade debts | 44 | €30,374 | €31,577 | +€1,203 | +4.0% |
| Suppliers | 440/4 | €30,374 | €31,577 | +€1,203 | +4.0% |
| Advances received on contracts in progress | 46 | - | €324 | +€324 | |
| Taxes, remuneration and social security | 45 | €625 | €16,224 | +€15,599 | +2,496% |
| Taxes | 450/3 | €625 | €16,224 | +€15,599 | +2,496% |
| Other amounts payable | 47/48 | €79,217 | €104,812 | +€25,594 | +32.3% |
| Other operating charges | 640/8 | €2,543 | €1,122 | -€1,422 | -55.9% |
| Gross operating margin | 9900 | -€11,035 | -€732 | +€10,302 | +93.4% |
| Operating profit (loss) | 9901 | -€13,578 | -€1,854 | +€11,724 | +86.3% |
| Financial income | 75/76B | - | €1,109 | +€1,109 | |
| Recurring financial income | 75 | - | €1,109 | +€1,109 | |
| Financial charges | 65/66B | €244 | €244 | -€0 | -0.1% |
| Recurring financial charges | 65 | €244 | €244 | -€0 | -0.1% |
| Profit (loss) for the period before taxes | 9903 | -€13,822 | -€989 | +€12,833 | +92.8% |
| Income taxes | 67/77 | €590 | €15,924 | +€15,334 | +2,598% |
| Profit (loss) for the period | 9904 | -€14,412 | -€16,914 | -€2,501 | -17.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,412 | -€16,914 | -€2,501 | -17.4% |
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 14 October 2026 via checked.be.