MD Services: 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 Services
Largest movements
- Financial fixed assets +€344,400
new in 2025: €344,400
- Receivables within one year +€17,000
new in 2025: €17,000
- Debts after one year +€217,117
new in 2025: €217,117
of which Financial debts: +€150,157
- Other debts +€97,440
new in 2025: €97,440
- Current portion of long-term debt +€20,078
new in 2025: €20,078
- Tax, wage and social debts +€16,563
new in 2025: €16,563
of which Remuneration and social security: +€12,003
- Reserves +€8,182
new in 2025: €8,182
- Gross operating margin +€19,850
up €19,850, from -€106 to €19,744
- Financial charges +€5,219
new in 2025: €5,219
- Taxes +€4,560
new in 2025: €4,560
- Depreciation +€209
up €209 (+531.0%), from €39 to €248
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 | €4,855 | €365,770 | +€360,914 | +7433.6% |
| Formation expenses | 20 | €1,202 | €954 | -€248 | -20.7% |
| Fixed assets | 21/28 | - | €344,400 | +€344,400 | |
| Financial fixed assets | 28 | - | €344,400 | +€344,400 | |
| Current assets | 29/58 | €3,653 | €20,416 | +€16,763 | +458.9% |
| Amounts receivable within one year | 40/41 | - | €17,000 | +€17,000 | |
| Trade receivables | 40 | - | €17,000 | +€17,000 | |
| Cash at bank and in hand | 54/58 | €3,653 | €3,416 | -€237 | -6.5% |
| Total equity and liabilities | 10/49 | €4,855 | €365,770 | +€360,914 | +7433.6% |
| Equity | 10/15 | €4,855 | €14,572 | +€9,717 | +200.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | - | €8,182 | +€8,182 | |
| Distributable reserves | 133 | - | €8,182 | +€8,182 | |
| Profit (loss) carried forward | 14 | -€145 | €1,390 | +€1,535 | |
| Amounts payable | 17/49 | - | €351,198 | +€351,198 | |
| Amounts payable after more than one year | 17 | - | €217,117 | +€217,117 | |
| Financial debts | 170/4 | - | €150,157 | +€150,157 | |
| Other amounts payable | 178/9 | - | €66,960 | +€66,960 | |
| Amounts payable within one year | 42/48 | - | €134,081 | +€134,081 | |
| Current portion of amounts payable after more than one year | 42 | - | €20,078 | +€20,078 | |
| Taxes, remuneration and social security | 45 | - | €16,563 | +€16,563 | |
| Taxes | 450/3 | - | €4,560 | +€4,560 | |
| Remuneration and social security | 454/9 | - | €12,003 | +€12,003 | |
| Other amounts payable | 47/48 | - | €97,440 | +€97,440 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39 | €248 | +€209 | +531.0% |
| Gross operating margin | 9900 | -€106 | €19,744 | +€19,850 | |
| Operating profit (loss) | 9901 | -€145 | €19,496 | +€19,641 | |
| Financial charges | 65/66B | - | €5,219 | +€5,219 | |
| Recurring financial charges | 65 | - | €5,219 | +€5,219 | |
| Profit (loss) for the period before taxes | 9903 | -€145 | €14,276 | +€14,421 | |
| Income taxes | 67/77 | - | €4,560 | +€4,560 | |
| Profit (loss) for the period | 9904 | -€145 | €9,717 | +€9,862 | |
| Profit (loss) for the period to be appropriated | 9905 | -€145 | €9,717 | +€9,862 |
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 12 October 2026 via checked.be.