MD INVEST: what changed
What changed
MD INVEST
NACE 70.200, Business and other management consultancy
filed annual accounts (NBB)
Net result for the year
€75,819
2024 · €319,477-€243,659
Equity
€3.0m
2024 · €3.0m+€75,819
Cash
€227,699
2024 · €199,458+€28,241
Balance sheet total
€3.8m
2024 · €3.8m-€28,413
Largest movements
Assets
- Current investments -€605,574
down €605,574 (-89.6%), from €675,720 to €70,147
- Tangible fixed assets +€307,305
up €307,305 (+15.2%), from €2.0m to €2.3m
of which Land and buildings: +€259,253
- Receivables within one year +€253,053
up €253,053 (+28.7%), from €881,272 to €1.1m
of which Trade receivables: +€218,000
Equity and liabilities
- Debts after one year -€90,000
down €90,000 (-42.9%), from €210,000 to €120,000
- Reserves +€75,819
up €75,819 (+2.6%), from €2.9m to €3.0m
of which Distributable reserves: +€75,819
- Tax, wage and social debts -€62,890
down €62,890 (-86.4%), from €72,809 to €9,918
Income statement
- Gross operating margin -€312,953
down €312,953 (-42.9%), from €728,746 to €415,793
- Taxes -€113,151
down €113,151 (-79.2%), from €142,938 to €29,786
- Depreciation +€38,220
up €38,220 (+19.3%), from €198,242 to €236,462
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€319,477
Gross operating margin
-€312,953
Depreciation
-€38,220
Other operating charges
-€1,393
Other operating items
+€5,492
Financial income
-€4,873
Financial charges
-€4,863
Taxes
+€113,151
Result 2025
€75,819
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€51,585
Investment
+€66,656
Financing
-€90,000
Cash 2024
€199,458
From operations (derived)
+€51,585
Net result for the year
+€75,819
Depreciation
+€236,462
Receivables within one year
-€253,053
Deferred charges and accrued income
+€6,588
Trade debts
+€26,075
Tax, wage and social debts
-€62,890
Other debts
+€22,584
Investment (derived)
+€66,656
Investment in fixed assets (net)
-€538,917
Current investments
+€605,574
Financing
-€90,000
Debts after one year
-€90,000
Cash 2025
€227,699
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,789,832 | €3,761,419 | -€28,413 | -0.7% |
| Fixed assets | 21/28 | €2,025,173 | €2,327,628 | +€302,455 | +14.9% |
| Tangible fixed assets | 22/27 | €2,019,223 | €2,326,528 | +€307,305 | +15.2% |
| Land and buildings | 22 | €1,708,308 | €1,967,561 | +€259,253 | +15.2% |
| Plant, machinery and equipment | 23 | €8,215 | €13,088 | +€4,873 | +59.3% |
| Furniture and vehicles | 24 | €302,700 | €345,878 | +€43,178 | +14.3% |
| Financial fixed assets | 28 | €5,950 | €1,100 | -€4,850 | -81.5% |
| Current assets | 29/58 | €1,764,660 | €1,433,791 | -€330,868 | -18.7% |
| Amounts receivable within one year | 40/41 | €881,272 | €1,134,324 | +€253,053 | +28.7% |
| Trade receivables | 40 | €880,000 | €1,098,000 | +€218,000 | +24.8% |
| Other amounts receivable | 41 | €1,272 | €36,324 | +€35,053 | +2,757% |
| Current investments | 50/53 | €675,720 | €70,147 | -€605,574 | -89.6% |
| Cash at bank and in hand | 54/58 | €199,458 | €227,699 | +€28,241 | +14.2% |
| Deferred charges and accrued income | 490/1 | €8,210 | €1,621 | -€6,588 | -80.2% |
| Total equity and liabilities | 10/49 | €3,789,832 | €3,761,419 | -€28,413 | -0.7% |
| Equity | 10/15 | €2,952,449 | €3,028,267 | +€75,819 | +2.6% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €2,933,899 | €3,009,717 | +€75,819 | +2.6% |
| Tax-exempt reserves | 132 | €20,849 | €20,849 | = | 0.0% |
| Distributable reserves | 133 | €2,913,049 | €2,988,868 | +€75,819 | +2.6% |
| Amounts payable | 17/49 | €837,384 | €733,152 | -€104,232 | -12.4% |
| Amounts payable after more than one year | 17 | €210,000 | €120,000 | -€90,000 | -42.9% |
| Financial debts | 170/4 | €210,000 | €120,000 | -€90,000 | -42.9% |
| Amounts payable within one year | 42/48 | €627,384 | €613,152 | -€14,232 | -2.3% |
| Current portion of amounts payable after more than one year | 42 | €90,000 | €90,000 | = | 0.0% |
| Trade debts | 44 | €39,854 | €65,929 | +€26,075 | +65.4% |
| Suppliers | 440/4 | €39,854 | €65,929 | +€26,075 | +65.4% |
| Taxes, remuneration and social security | 45 | €72,809 | €9,918 | -€62,890 | -86.4% |
| Taxes | 450/3 | €72,809 | €9,918 | -€62,890 | -86.4% |
| Other amounts payable | 47/48 | €424,721 | €447,304 | +€22,584 | +5.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €198,242 | €236,462 | +€38,220 | +19.3% |
| Other operating charges | 640/8 | €20,874 | €22,267 | +€1,393 | +6.7% |
| Non-recurring operating charges | 66A | €32,233 | €26,741 | -€5,492 | -17.0% |
| Gross operating margin | 9900 | €728,746 | €415,793 | -€312,953 | -42.9% |
| Operating profit (loss) | 9901 | €477,397 | €130,323 | -€347,074 | -72.7% |
| Financial income | 75/76B | €14,148 | €9,274 | -€4,873 | -34.4% |
| Recurring financial income | 75 | €14,148 | €9,274 | -€4,873 | -34.4% |
| Financial charges | 65/66B | €29,130 | €33,992 | +€4,863 | +16.7% |
| Recurring financial charges | 65 | €29,130 | €33,992 | +€4,863 | +16.7% |
| Profit (loss) for the period before taxes | 9903 | €462,415 | €105,605 | -€356,810 | -77.2% |
| Income taxes | 67/77 | €142,938 | €29,786 | -€113,151 | -79.2% |
| Profit (loss) for the period | 9904 | €319,477 | €75,819 | -€243,659 | -76.3% |
| Profit (loss) for the period to be appropriated | 9905 | €319,477 | €75,819 | -€243,659 | -76.3% |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.