MD TRAVEL: 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 TRAVEL
Largest movements
- Tangible fixed assets -€36,428
down €36,428 (-7.1%), from €513,281 to €476,853
of which Land and buildings: -€36,428
- Receivables within one year -€9,790
down €9,790 (-36.9%), from €26,541 to €16,751
- Debts after one year -€27,024
down €27,024 (-13.9%), from €194,880 to €167,856
- Trade debts +€20,641
up €20,641 (+35.2%), from €58,569 to €79,210
- Profit (loss) carried forward -€16,672
new in 2025: -€16,672
- Other debts -€16,377
down €16,377 (-9.3%), from €175,995 to €159,618
- Gross operating margin -€40,146
down €40,146 (-58.6%), from €68,462 to €28,316
- Depreciation -€5,443
down €5,443 (-13.0%), from €41,871 to €36,428
- Taxes -€1,870
down €1,870 (-55.1%), from €3,394 to €1,523
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 | €564,335 | €521,548 | -€42,787 | -7.6% |
| Fixed assets | 21/28 | €513,281 | €476,853 | -€36,428 | -7.1% |
| Tangible fixed assets | 22/27 | €513,281 | €476,853 | -€36,428 | -7.1% |
| Land and buildings | 22 | €513,281 | €476,853 | -€36,428 | -7.1% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €51,054 | €44,695 | -€6,359 | -12.5% |
| Amounts receivable within one year | 40/41 | €26,541 | €16,751 | -€9,790 | -36.9% |
| Trade receivables | 40 | €26,541 | €16,751 | -€9,790 | -36.9% |
| Cash at bank and in hand | 54/58 | €22,463 | €26,449 | +€3,986 | +17.7% |
| Deferred charges and accrued income | 490/1 | €2,050 | €1,495 | -€555 | -27.1% |
| Total equity and liabilities | 10/49 | €564,335 | €521,548 | -€42,787 | -7.6% |
| Equity | 10/15 | €90,015 | €73,343 | -€16,672 | -18.5% |
| Contributions | 10/11 | €70,000 | €70,000 | = | 0.0% |
| Reserves | 13 | €20,015 | €20,015 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €20,015 | €20,015 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€16,672 | -€16,672 | |
| Amounts payable | 17/49 | €474,320 | €448,205 | -€26,115 | -5.5% |
| Amounts payable after more than one year | 17 | €194,880 | €167,856 | -€27,024 | -13.9% |
| Financial debts | 170/4 | €194,880 | €167,856 | -€27,024 | -13.9% |
| Amounts payable within one year | 42/48 | €264,684 | €267,537 | +€2,853 | +1.1% |
| Current portion of amounts payable after more than one year | 42 | €26,649 | €27,024 | +€375 | +1.4% |
| Trade debts | 44 | €58,569 | €79,210 | +€20,641 | +35.2% |
| Suppliers | 440/4 | €58,569 | €79,210 | +€20,641 | +35.2% |
| Taxes, remuneration and social security | 45 | €3,472 | €1,685 | -€1,786 | -51.5% |
| Taxes | 450/3 | €3,472 | €1,685 | -€1,786 | -51.5% |
| Other amounts payable | 47/48 | €175,995 | €159,618 | -€16,377 | -9.3% |
| Accrued charges and deferred income | 492/3 | €14,756 | €12,812 | -€1,944 | -13.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,871 | €36,428 | -€5,443 | -13.0% |
| Other operating charges | 640/8 | €3,263 | €3,091 | -€171 | -5.3% |
| Gross operating margin | 9900 | €68,462 | €28,316 | -€40,146 | -58.6% |
| Operating profit (loss) | 9901 | €23,328 | -€11,203 | -€34,531 | |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €4,211 | €3,945 | -€266 | -6.3% |
| Recurring financial charges | 65 | €4,211 | €3,945 | -€266 | -6.3% |
| Profit (loss) for the period before taxes | 9903 | €19,117 | -€15,149 | -€34,266 | |
| Income taxes | 67/77 | €3,394 | €1,523 | -€1,870 | -55.1% |
| Profit (loss) for the period | 9904 | €15,723 | -€16,672 | -€32,395 | |
| Profit (loss) for the period to be appropriated | 9905 | €15,723 | -€16,672 | -€32,395 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.