MD USINAGE: 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.
What changed
MD USINAGE
NACE 25.110, Manufacture of metal structures and parts of structures
fiscal year 2023 against 2024filed annual accounts (NBB)
Net result for the year
-€2,217
2023 · €15,379-€17,596
Equity
€171,146
2023 · €179,257-€8,111
Cash
€4,576
2023 · €8,649-€4,073
Balance sheet total
€812,129
2023 · €958,491-€146,362
Largest movements
Assets
- Tangible fixed assets -€95,715
down €95,715 (-13.4%), from €712,774 to €617,059
- Receivables within one year -€53,135
down €53,135 (-31.3%), from €169,810 to €116,675
Equity and liabilities
- Debts after one year -€119,076
down €119,076 (-25.0%), from €476,855 to €357,779
Income statement
- Gross operating margin -€60,464
down €60,464 (-21.7%), from €279,048 to €218,584
- Staff costs -€46,349
down €46,349 (-31.2%), from €148,528 to €102,179
- Financial income -€7,934
down €7,934 (-57.3%), from €13,848 to €5,914
From the 2023 result to the 2024 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.
Result 2023
€15,379
Gross operating margin
-€60,464
Staff costs
+€46,349
Depreciation
+€572
Other operating charges
-€1,006
Other operating items
+€8,180
Financial income
-€7,934
Financial charges
-€2,130
Taxes
-€1,163
Result 2024
-€2,217
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€129,388
Investment
€0
Financing
-€133,461
Cash 2023
€8,649
From operations (derived)
+€129,388
Net result for the year
-€2,217
Depreciation
+€95,815
Stocks and contracts
-€9,542
Receivables within one year
+€53,135
Deferred charges and accrued income
+€2,881
Provisions
-€1,160
Trade debts
-€5,937
Tax, wage and social debts
-€3,617
Other debts
+€30
Financing
-€133,461
Debts after one year
-€119,076
Current portion of long-term debt
+€611
Short-term financial debts
-€9,102
Contributions, distributions and other
-€5,894
Cash 2024
€4,576
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €958,491 | €812,129 | -€146,362 | -15.3% |
| Fixed assets | 21/28 | €713,399 | €617,584 | -€95,815 | -13.4% |
| Intangible fixed assets | 21 | €500 | €400 | -€100 | -20.0% |
| Tangible fixed assets | 22/27 | €712,774 | €617,059 | -€95,715 | -13.4% |
| Land and buildings | 22 | €361,298 | €338,946 | -€22,352 | -6.2% |
| Plant, machinery and equipment | 23 | €139,911 | €93,832 | -€46,079 | -32.9% |
| Furniture and vehicles | 24 | €786 | €143 | -€643 | -81.8% |
| Leasing and similar rights | 25 | €210,779 | €184,138 | -€26,641 | -12.6% |
| Financial fixed assets | 28 | €125 | €125 | = | 0.0% |
| Current assets | 29/58 | €245,092 | €194,545 | -€50,547 | -20.6% |
| Stocks and contracts in progress | 3 | €63,752 | €73,294 | +€9,542 | +15.0% |
| Stocks | 30/36 | €63,752 | €73,294 | +€9,542 | +15.0% |
| Amounts receivable within one year | 40/41 | €169,810 | €116,675 | -€53,135 | -31.3% |
| Trade receivables | 40 | €169,810 | €116,675 | -€53,135 | -31.3% |
| Cash at bank and in hand | 54/58 | €8,649 | €4,576 | -€4,073 | -47.1% |
| Deferred charges and accrued income | 490/1 | €2,881 | - | -€2,881 | |
| Total equity and liabilities | 10/49 | €958,491 | €812,129 | -€146,362 | -15.3% |
| Equity | 10/15 | €179,257 | €171,146 | -€8,111 | -4.5% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €13,920 | €9,280 | -€4,640 | -33.3% |
| Tax-exempt reserves | 132 | €13,920 | €9,280 | -€4,640 | -33.3% |
| Profit (loss) carried forward | 14 | €112,884 | €115,307 | +€2,423 | +2.1% |
| Investment grants | 15 | €31,993 | €26,099 | -€5,894 | -18.4% |
| Provisions and deferred taxes | 16 | €3,480 | €2,320 | -€1,160 | -33.3% |
| Deferred taxes | 168 | €3,480 | €2,320 | -€1,160 | -33.3% |
| Amounts payable | 17/49 | €775,754 | €638,663 | -€137,091 | -17.7% |
| Amounts payable after more than one year | 17 | €476,855 | €357,779 | -€119,076 | -25.0% |
| Financial debts | 170/4 | €476,855 | €357,779 | -€119,076 | -25.0% |
| Amounts payable within one year | 42/48 | €298,899 | €280,884 | -€18,015 | -6.0% |
| Current portion of amounts payable after more than one year | 42 | €95,071 | €95,682 | +€611 | +0.6% |
| Financial debts | 43 | €67,480 | €58,378 | -€9,102 | -13.5% |
| Credit institutions | 430/8 | €67,480 | €58,378 | -€9,102 | -13.5% |
| Trade debts | 44 | €68,617 | €62,680 | -€5,937 | -8.7% |
| Suppliers | 440/4 | €68,617 | €62,680 | -€5,937 | -8.7% |
| Taxes, remuneration and social security | 45 | €35,239 | €31,622 | -€3,617 | -10.3% |
| Taxes | 450/3 | €8,322 | €11,100 | +€2,778 | +33.4% |
| Remuneration and social security | 454/9 | €26,917 | €20,522 | -€6,395 | -23.8% |
| Other amounts payable | 47/48 | €32,492 | €32,522 | +€30 | +0.1% |
| Remuneration, social security and pensions | 62 | €148,528 | €102,179 | -€46,349 | -31.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €96,387 | €95,815 | -€572 | -0.6% |
| Other operating charges | 640/8 | €8,894 | €9,900 | +€1,006 | +11.3% |
| Non-recurring operating charges | 66A | €8,180 | - | -€8,180 | |
| Gross operating margin | 9900 | €279,048 | €218,584 | -€60,464 | -21.7% |
| Operating profit (loss) | 9901 | €17,059 | €10,690 | -€6,369 | -37.3% |
| Financial income | 75/76B | €13,848 | €5,914 | -€7,934 | -57.3% |
| Recurring financial income | 75 | €13,848 | €5,914 | -€7,934 | -57.3% |
| Financial charges | 65/66B | €16,524 | €18,654 | +€2,130 | +12.9% |
| Recurring financial charges | 65 | €16,524 | €18,654 | +€2,130 | +12.9% |
| Profit (loss) for the period before taxes | 9903 | €14,383 | -€2,050 | -€16,433 | |
| Transfer from deferred taxes | 780 | €1,160 | €1,160 | = | 0.0% |
| Income taxes | 67/77 | €164 | €1,327 | +€1,163 | +709.1% |
| Profit (loss) for the period | 9904 | €15,379 | -€2,217 | -€17,596 | |
| Transfer from tax-exempt reserves | 789 | €4,640 | €4,640 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €20,019 | €2,423 | -€17,596 | -87.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.