MD PRINT: 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 PRINT
Largest movements
- Receivables within one year -€2,489
down €2,489 (-14.8%), from €16,795 to €14,307
of which Trade receivables: -€2,651
- Deferred charges and accrued income +€1,755
up €1,755 (+3875.1%), from €45 to €1,800
- Tangible fixed assets -€679
no longer reported in 2025 (was €679)
- Cash +€201
up €201 (+9.0%), from €2,219 to €2,420
mainly Accrued charges and deferred income (+€2,877) and Receivables within one year (+€2,489)
- Trade debts -€3,075
down €3,075 (-11.3%), from €27,092 to €24,017
- Accrued charges and deferred income +€2,877
up €2,877 (+673.9%), from €427 to €3,303
- Other debts -€2,318
down €2,318 (-1.6%), from €147,446 to €145,127
- Profit (loss) carried forward +€1,335
up €1,335 (+0.7%), from -€179,055 to -€177,719
- Depreciation -€5,673
down €5,673 (-89.3%), from €6,352 to €679
- Gross operating margin -€4,943
down €4,943 (-59.4%), from €8,327 to €3,384
- Taxes +€397
up €397, from -€74 to €324
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 | €19,738 | €18,527 | -€1,212 | -6.1% |
| Fixed assets | 21/28 | €679 | - | -€679 | |
| Tangible fixed assets | 22/27 | €679 | - | -€679 | |
| Furniture and vehicles | 24 | €679 | - | -€679 | |
| Current assets | 29/58 | €19,060 | €18,527 | -€533 | -2.8% |
| Amounts receivable within one year | 40/41 | €16,795 | €14,307 | -€2,489 | -14.8% |
| Trade receivables | 40 | €14,637 | €11,985 | -€2,651 | -18.1% |
| Other amounts receivable | 41 | €2,159 | €2,321 | +€163 | +7.5% |
| Cash at bank and in hand | 54/58 | €2,219 | €2,420 | +€201 | +9.0% |
| Deferred charges and accrued income | 490/1 | €45 | €1,800 | +€1,755 | +3875.1% |
| Total equity and liabilities | 10/49 | €19,738 | €18,527 | -€1,212 | -6.1% |
| Equity | 10/15 | -€158,595 | -€157,259 | +€1,335 | +0.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€179,055 | -€177,719 | +€1,335 | +0.7% |
| Amounts payable | 17/49 | €178,333 | €175,786 | -€2,547 | -1.4% |
| Amounts payable within one year | 42/48 | €177,907 | €172,483 | -€5,424 | -3.0% |
| Trade debts | 44 | €27,092 | €24,017 | -€3,075 | -11.3% |
| Suppliers | 440/4 | €27,092 | €24,017 | -€3,075 | -11.3% |
| Taxes, remuneration and social security | 45 | €3,369 | €3,338 | -€30 | -0.9% |
| Taxes | 450/3 | €1,531 | €1,500 | -€30 | -2.0% |
| Remuneration and social security | 454/9 | €1,838 | €1,838 | = | 0.0% |
| Other amounts payable | 47/48 | €147,446 | €145,127 | -€2,318 | -1.6% |
| Accrued charges and deferred income | 492/3 | €427 | €3,303 | +€2,877 | +673.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,352 | €679 | -€5,673 | -89.3% |
| Other operating charges | 640/8 | €918 | €943 | +€24 | +2.7% |
| Gross operating margin | 9900 | €8,327 | €3,384 | -€4,943 | -59.4% |
| Operating profit (loss) | 9901 | €1,057 | €1,763 | +€706 | +66.8% |
| Financial charges | 65/66B | €67 | €104 | +€37 | +55.7% |
| Recurring financial charges | 65 | €67 | €104 | +€37 | +55.7% |
| Profit (loss) for the period before taxes | 9903 | €990 | €1,659 | +€669 | +67.5% |
| Income taxes | 67/77 | -€74 | €324 | +€397 | |
| Profit (loss) for the period | 9904 | €1,064 | €1,335 | +€271 | +25.5% |
| Profit (loss) for the period to be appropriated | 9905 | €1,064 | €1,335 | +€271 | +25.5% |
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 7 October 2026 via checked.be.