MD-TECHNIQUE: 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-TECHNIQUE
Largest movements
- Cash -€468,250
down €468,250 (-86.2%), from €543,080 to €74,830
mainly Contributions, distributions and other (-€470,000) and Receivables within one year (-€17,043)
- Receivables within one year +€17,043
up €17,043 (+309.4%), from €5,508 to €22,551
of which Other amounts receivable: +€17,089
- Reserves -€461,690
down €461,690 (-87.2%), from €529,462 to €67,772
of which Distributable reserves: -€461,690
- Advances received +€6,745
new in 2025: €6,745
- Gross operating margin -€57,234
down €57,234 (-81.1%), from €70,554 to €13,320
- Taxes -€14,513
down €14,513 (-83.8%), from €17,326 to €2,813
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 | €554,154 | €101,698 | -€452,456 | -81.6% |
| Fixed assets | 21/28 | €3,370 | €1,880 | -€1,489 | -44.2% |
| Tangible fixed assets | 22/27 | €2,370 | €880 | -€1,489 | -62.9% |
| Plant, machinery and equipment | 23 | €240 | - | -€240 | |
| Furniture and vehicles | 24 | €1,491 | €880 | -€610 | -40.9% |
| Other tangible fixed assets | 26 | €639 | - | -€639 | |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €550,785 | €99,818 | -€450,967 | -81.9% |
| Amounts receivable within one year | 40/41 | €5,508 | €22,551 | +€17,043 | +309.4% |
| Trade receivables | 40 | €45 | - | -€45 | |
| Other amounts receivable | 41 | €5,462 | €22,551 | +€17,089 | +312.8% |
| Cash at bank and in hand | 54/58 | €543,080 | €74,830 | -€468,250 | -86.2% |
| Deferred charges and accrued income | 490/1 | €2,197 | €2,437 | +€240 | +10.9% |
| Total equity and liabilities | 10/49 | €554,154 | €101,698 | -€452,456 | -81.6% |
| Equity | 10/15 | €548,062 | €86,372 | -€461,690 | -84.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €529,462 | €67,772 | -€461,690 | -87.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €527,602 | €65,912 | -€461,690 | -87.5% |
| Amounts payable | 17/49 | €6,092 | €15,326 | +€9,234 | +151.6% |
| Amounts payable within one year | 42/48 | €6,092 | €15,326 | +€9,234 | +151.6% |
| Trade debts | 44 | €98 | €382 | +€284 | +290.9% |
| Suppliers | 440/4 | €98 | €382 | +€284 | +290.9% |
| Advances received on contracts in progress | 46 | - | €6,745 | +€6,745 | |
| Taxes, remuneration and social security | 45 | €44 | €32 | -€13 | -28.5% |
| Taxes | 450/3 | €44 | €32 | -€13 | -28.5% |
| Other amounts payable | 47/48 | €5,951 | €8,168 | +€2,217 | +37.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,835 | €1,489 | -€345 | -18.8% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €70,554 | €13,320 | -€57,234 | -81.1% |
| Operating profit (loss) | 9901 | €68,332 | €11,431 | -€56,900 | -83.3% |
| Financial charges | 65/66B | €216 | €308 | +€92 | +42.6% |
| Recurring financial charges | 65 | €216 | €216 | = | 0.0% |
| Non-recurring financial charges | 66B | - | €92 | +€92 | |
| Profit (loss) for the period before taxes | 9903 | €68,116 | €11,123 | -€56,992 | -83.7% |
| Income taxes | 67/77 | €17,326 | €2,813 | -€14,513 | -83.8% |
| Profit (loss) for the period | 9904 | €50,789 | €8,310 | -€42,479 | -83.6% |
| Profit (loss) for the period to be appropriated | 9905 | €50,789 | €8,310 | -€42,479 | -83.6% |
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 3 October 2026 via checked.be.