MD TRANSPORTS: what changed
MD TRANSPORTS
Largest movements
- Cash +€37,543
up €37,543 (+117%), from €31,969 to €69,512
mainly Net result for the year (+€26,693) and Depreciation (+€25,527)
- Tangible fixed assets -€25,527
down €25,527 (-28.6%), from €89,159 to €63,632
- Receivables within one year +€8,867
up €8,867 (+7.9%), from €111,702 to €120,569
of which Trade receivables: +€6,527
- Reserves +€26,693
up €26,693 (+21.5%), from €124,395 to €151,088
- Short-term financial debts -€14,747
down €14,747 (-100%), from €14,747 to €0
- Accrued charges and deferred income +€11,988
up €11,988 (+3,340%), from €359 to €12,346
- Current portion of long-term debt -€5,736
down €5,736 (-100%), from €5,736 to €0
- Tax, wage and social debts +€2,902
up €2,902 (+17.2%), from €16,857 to €19,759
of which Remuneration and social security: +€1,956
- Gross operating margin +€45,501
up €45,501 (+16.8%), from €270,981 to €316,481
- Taxes +€12,818
up €12,818 (+702%), from €1,825 to €14,643
- Staff costs +€10,343
up €10,343 (+4.9%), from €210,112 to €220,455
- Other operating charges -€3,519
down €3,519 (-11.0%), from €32,069 to €28,550
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €257,405 | €278,140 | +€20,735 | +8.1% |
| Fixed assets | 21/28 | €93,734 | €68,058 | -€25,675 | -27.4% |
| Tangible fixed assets | 22/27 | €89,159 | €63,632 | -€25,527 | -28.6% |
| Furniture and vehicles | 24 | €89,159 | €63,632 | -€25,527 | -28.6% |
| Financial fixed assets | 28 | €4,575 | €4,426 | -€149 | -3.3% |
| Current assets | 29/58 | €163,672 | €210,081 | +€46,410 | +28.4% |
| Amounts receivable within one year | 40/41 | €111,702 | €120,569 | +€8,867 | +7.9% |
| Trade receivables | 40 | €74,702 | €81,229 | +€6,527 | +8.7% |
| Other amounts receivable | 41 | €37,000 | €39,340 | +€2,340 | +6.3% |
| Current investments | 50/53 | €20,000 | €20,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €31,969 | €69,512 | +€37,543 | +117% |
| Total equity and liabilities | 10/49 | €257,405 | €278,140 | +€20,735 | +8.1% |
| Equity | 10/15 | €174,395 | €201,088 | +€26,693 | +15.3% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €124,395 | €151,088 | +€26,693 | +21.5% |
| Distributable reserves | 133 | €124,395 | €151,088 | +€26,693 | +21.5% |
| Provisions and deferred taxes | 16 | €27,865 | €27,865 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €27,865 | €27,865 | = | 0.0% |
| Other liabilities and charges | 164/5 | €27,865 | €27,865 | = | 0.0% |
| Amounts payable | 17/49 | €55,145 | €49,187 | -€5,959 | -10.8% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €54,786 | €36,840 | -€17,946 | -32.8% |
| Current portion of amounts payable after more than one year | 42 | €5,736 | €0 | -€5,736 | -100% |
| Financial debts | 43 | €14,747 | €0 | -€14,747 | -100% |
| Credit institutions | 430/8 | €14,747 | €0 | -€14,747 | -100% |
| Trade debts | 44 | €15,809 | €15,445 | -€365 | -2.3% |
| Suppliers | 440/4 | €15,809 | €15,445 | -€365 | -2.3% |
| Taxes, remuneration and social security | 45 | €16,857 | €19,759 | +€2,902 | +17.2% |
| Taxes | 450/3 | €0 | €946 | +€946 | |
| Remuneration and social security | 454/9 | €16,857 | €18,812 | +€1,956 | +11.6% |
| Other amounts payable | 47/48 | €1,637 | €1,637 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €359 | €12,346 | +€11,988 | +3,340% |
| Remuneration, social security and pensions | 62 | €210,112 | €220,455 | +€10,343 | +4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,619 | €25,527 | -€92 | -0.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €32,069 | €28,550 | -€3,519 | -11.0% |
| Gross operating margin | 9900 | €270,981 | €316,481 | +€45,501 | +16.8% |
| Operating profit (loss) | 9901 | €3,181 | €41,950 | +€38,769 | +1,219% |
| Financial income | 75/76B | €638 | €564 | -€74 | -11.7% |
| Recurring financial income | 75 | €638 | €564 | -€74 | -11.7% |
| Financial charges | 65/66B | €1,179 | €1,178 | -€1 | -0.1% |
| Recurring financial charges | 65 | €1,179 | €1,178 | -€1 | -0.1% |
| Profit (loss) for the period before taxes | 9903 | €2,641 | €41,336 | +€38,695 | +1,465% |
| Income taxes | 67/77 | €1,825 | €14,643 | +€12,818 | +702% |
| Profit (loss) for the period | 9904 | €816 | €26,693 | +€25,878 | +3,173% |
| Profit (loss) for the period to be appropriated | 9905 | €816 | €26,693 | +€25,878 | +3,173% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.