MD SOLUTIONS: 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 SOLUTIONS
Largest movements
- Receivables within one year +€73,548
up €73,548 (+225.1%), from €32,676 to €106,224
of which Other amounts receivable: +€93,023
- Tangible fixed assets -€46,584
down €46,584 (-96.6%), from €48,225 to €1,641
of which Furniture and vehicles: -€31,895
- Cash +€45,998
up €45,998 (+158.6%), from €29,006 to €75,003
mainly Net result for the year (+€69,081) and Investment in fixed assets (net) (+€44,438)
- Deferred charges and accrued income +€1,922
up €1,922 (+1691.4%), from €114 to €2,036
- Reserves +€51,763
new in 2025: €51,763
- Profit (loss) carried forward +€17,318
up €17,318 (+22.6%), from €76,653 to €93,971
- Debts after one year +€15,945
up €15,945 (+188.4%), from €8,462 to €24,407
- Current portion of long-term debt -€7,758
down €7,758 (-87.4%), from €8,876 to €1,118
- Tax, wage and social debts -€3,352
down €3,352 (-26.1%), from €12,836 to €9,483
- Gross operating margin +€33,234
up €33,234 (+36.1%), from €92,034 to €125,269
- Other operating charges +€31,099
up €31,099 (+1035.4%), from €3,003 to €34,103
- Depreciation -€4,700
down €4,700 (-68.7%), from €6,846 to €2,146
- Taxes +€3,021
up €3,021 (+16.9%), from €17,883 to €20,904
- Financial income +€1,940
up €1,940 (+2010.7%), from €96 to €2,036
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 | €110,137 | €185,021 | +€74,884 | +68.0% |
| Fixed assets | 21/28 | €48,341 | €1,758 | -€46,584 | -96.4% |
| Tangible fixed assets | 22/27 | €48,225 | €1,641 | -€46,584 | -96.6% |
| Plant, machinery and equipment | 23 | €2,632 | €1,641 | -€991 | -37.6% |
| Furniture and vehicles | 24 | €31,895 | €0 | -€31,895 | -100.0% |
| Assets under construction and advance payments | 27 | €13,698 | €0 | -€13,698 | -100.0% |
| Financial fixed assets | 28 | €117 | €117 | = | 0.0% |
| Current assets | 29/58 | €61,795 | €183,263 | +€121,468 | +196.6% |
| Amounts receivable within one year | 40/41 | €32,676 | €106,224 | +€73,548 | +225.1% |
| Trade receivables | 40 | €21,357 | €1,882 | -€19,475 | -91.2% |
| Other amounts receivable | 41 | €11,319 | €104,343 | +€93,023 | +821.8% |
| Cash at bank and in hand | 54/58 | €29,006 | €75,003 | +€45,998 | +158.6% |
| Deferred charges and accrued income | 490/1 | €114 | €2,036 | +€1,922 | +1691.4% |
| Total equity and liabilities | 10/49 | €110,137 | €185,021 | +€74,884 | +68.0% |
| Equity | 10/15 | €78,153 | €147,234 | +€69,081 | +88.4% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | - | €51,763 | +€51,763 | |
| Distributable reserves | 133 | - | €51,763 | +€51,763 | |
| Profit (loss) carried forward | 14 | €76,653 | €93,971 | +€17,318 | +22.6% |
| Amounts payable | 17/49 | €31,983 | €37,787 | +€5,803 | +18.1% |
| Amounts payable after more than one year | 17 | €8,462 | €24,407 | +€15,945 | +188.4% |
| Financial debts | 170/4 | €8,462 | €24,407 | +€15,945 | +188.4% |
| Amounts payable within one year | 42/48 | €23,522 | €13,380 | -€10,142 | -43.1% |
| Current portion of amounts payable after more than one year | 42 | €8,876 | €1,118 | -€7,758 | -87.4% |
| Trade debts | 44 | €1,810 | €2,778 | +€968 | +53.4% |
| Suppliers | 440/4 | €1,810 | €2,778 | +€968 | +53.4% |
| Taxes, remuneration and social security | 45 | €12,836 | €9,483 | -€3,352 | -26.1% |
| Taxes | 450/3 | €12,836 | €9,483 | -€3,352 | -26.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,846 | €2,146 | -€4,700 | -68.7% |
| Other operating charges | 640/8 | €3,003 | €34,103 | +€31,099 | +1035.4% |
| Non-recurring operating charges | 66A | €123 | - | -€123 | |
| Gross operating margin | 9900 | €92,034 | €125,269 | +€33,234 | +36.1% |
| Operating profit (loss) | 9901 | €82,062 | €89,020 | +€6,958 | +8.5% |
| Financial income | 75/76B | €96 | €2,036 | +€1,940 | +2010.7% |
| Recurring financial income | 75 | €96 | €2,036 | +€1,940 | +2010.7% |
| Financial charges | 65/66B | €1,048 | €1,072 | +€24 | +2.3% |
| Recurring financial charges | 65 | €1,048 | €1,072 | +€24 | +2.3% |
| Profit (loss) for the period before taxes | 9903 | €81,111 | €89,985 | +€8,874 | +10.9% |
| Income taxes | 67/77 | €17,883 | €20,904 | +€3,021 | +16.9% |
| Profit (loss) for the period | 9904 | €63,227 | €69,081 | +€5,854 | +9.3% |
| Profit (loss) for the period to be appropriated | 9905 | €63,227 | €69,081 | +€5,854 | +9.3% |
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 6 October 2026 via checked.be.