MD SPORT: 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 SPORT
Largest movements
- Cash +€28,837
up €28,837 (+53.8%), from €53,583 to €82,420
mainly Receivables within one year (+€28,706) and Depreciation (+€6,613)
- Receivables within one year -€28,706
down €28,706 (-71.3%), from €40,260 to €11,554
of which Other amounts receivable: -€20,319
- Tangible fixed assets +€8,336
up €8,336 (+34.7%), from €24,029 to €32,365
of which Land and buildings: +€4,519
- Deferred charges and accrued income -€4,871
no longer reported in 2025 (was €4,871)
- Stocks and contracts +€2,999
up €2,999 (+104%), from €2,893 to €5,892
- Profit (loss) carried forward +€5,612
up €5,612 (+12.7%), from €44,061 to €49,673
- Trade debts +€1,534
up €1,534 (+12.5%), from €12,222 to €13,756
- Gross operating margin +€17,347
up €17,347 (+613%), from €2,831 to €20,178
- Other operating charges +€5,244
up €5,244 (+262%), from €1,998 to €7,242
- Staff costs -€2,166
down €2,166 (-99.7%), from €2,172 to €6
- Depreciation +€1,342
up €1,342 (+25.5%), from €5,271 to €6,613
- Financial income -€224
down €224 (-86.6%), from €259 to €35
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 | €125,636 | €132,231 | +€6,595 | +5.2% |
| Fixed assets | 21/28 | €24,029 | €32,365 | +€8,336 | +34.7% |
| Tangible fixed assets | 22/27 | €24,029 | €32,365 | +€8,336 | +34.7% |
| Land and buildings | 22 | €13,502 | €18,021 | +€4,519 | +33.5% |
| Plant, machinery and equipment | 23 | €10,304 | €12,307 | +€2,003 | +19.4% |
| Furniture and vehicles | 24 | €223 | €2,037 | +€1,814 | +813% |
| Current assets | 29/58 | €101,607 | €99,866 | -€1,741 | -1.7% |
| Stocks and contracts in progress | 3 | €2,893 | €5,892 | +€2,999 | +104% |
| Stocks | 30/36 | €2,893 | €5,892 | +€2,999 | +104% |
| Amounts receivable within one year | 40/41 | €40,260 | €11,554 | -€28,706 | -71.3% |
| Trade receivables | 40 | €11,241 | €2,854 | -€8,387 | -74.6% |
| Other amounts receivable | 41 | €29,019 | €8,700 | -€20,319 | -70.0% |
| Cash at bank and in hand | 54/58 | €53,583 | €82,420 | +€28,837 | +53.8% |
| Deferred charges and accrued income | 490/1 | €4,871 | - | -€4,871 | |
| Total equity and liabilities | 10/49 | €125,636 | €132,231 | +€6,595 | +5.2% |
| Equity | 10/15 | €112,811 | €118,423 | +€5,612 | +5.0% |
| Contributions | 10/11 | €62,500 | €62,500 | = | 0.0% |
| Capital | 10 | €62,500 | €62,500 | = | 0.0% |
| Issued capital | 100 | €62,500 | €62,500 | = | 0.0% |
| Reserves | 13 | €6,250 | €6,250 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,250 | €6,250 | = | 0.0% |
| Legal reserve | 130 | €6,250 | €6,250 | = | 0.0% |
| Profit (loss) carried forward | 14 | €44,061 | €49,673 | +€5,612 | +12.7% |
| Amounts payable | 17/49 | €12,824 | €13,808 | +€983 | +7.7% |
| Amounts payable within one year | 42/48 | €12,824 | €13,808 | +€983 | +7.7% |
| Trade debts | 44 | €12,222 | €13,756 | +€1,534 | +12.5% |
| Suppliers | 440/4 | €12,222 | €13,756 | +€1,534 | +12.5% |
| Taxes, remuneration and social security | 45 | €602 | - | -€602 | |
| Taxes | 450/3 | €602 | - | -€602 | |
| Other amounts payable | 47/48 | - | €52 | +€52 | |
| Remuneration, social security and pensions | 62 | €2,172 | €6 | -€2,166 | -99.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,271 | €6,613 | +€1,342 | +25.5% |
| Other operating charges | 640/8 | €1,998 | €7,242 | +€5,244 | +262% |
| Gross operating margin | 9900 | €2,831 | €20,178 | +€17,347 | +613% |
| Operating profit (loss) | 9901 | -€6,609 | €6,317 | +€12,926 | |
| Financial income | 75/76B | €259 | €35 | -€224 | -86.6% |
| Recurring financial income | 75 | €259 | €35 | -€224 | -86.6% |
| Financial charges | 65/66B | €552 | €740 | +€188 | +34.1% |
| Recurring financial charges | 65 | €552 | €740 | +€188 | +34.1% |
| Profit (loss) for the period before taxes | 9903 | -€6,902 | €5,612 | +€12,513 | |
| Profit (loss) for the period | 9904 | -€6,902 | €5,612 | +€12,513 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,902 | €5,612 | +€12,513 |
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 23 October 2026 via checked.be.