MDB-23: 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.
MDB-23
Largest movements
- Financial fixed assets +€1.1m
up €1.1m (+125%), from €909,880 to €2.0m
- Tangible fixed assets +€107,402
new in 2025: €107,402
- Cash +€34,320
up €34,320 (+1,088%), from €3,155 to €37,475
mainly Other debts (+€615,832) and Net result for the year (+€605,414)
- Other debts +€615,832
up €615,832 (+67.6%), from €911,356 to €1.5m
- Reserves +€605,414
new in 2025: €605,414
- Tax, wage and social debts +€60,785
new in 2025: €60,785
- Financial income +€670,448
new in 2025: €670,448
- Taxes +€60,785
new in 2025: €60,785
- Depreciation +€13,966
new in 2025: €13,966
- Gross operating margin +€12,759
up €12,759, from -€1,930 to €10,829
- Other operating charges +€679
up €679 (+175%), from €387 to €1,066
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 | €913,035 | €2,195,126 | +€1.3m | +140% |
| Fixed assets | 21/28 | €909,880 | €2,155,282 | +€1.2m | +137% |
| Tangible fixed assets | 22/27 | - | €107,402 | +€107,402 | |
| Furniture and vehicles | 24 | - | €107,402 | +€107,402 | |
| Financial fixed assets | 28 | €909,880 | €2,047,880 | +€1.1m | +125% |
| Current assets | 29/58 | €3,155 | €39,844 | +€36,689 | +1,163% |
| Amounts receivable within one year | 40/41 | - | €2,368 | +€2,368 | |
| Other amounts receivable | 41 | - | €2,368 | +€2,368 | |
| Cash at bank and in hand | 54/58 | €3,155 | €37,475 | +€34,320 | +1,088% |
| Total equity and liabilities | 10/49 | €913,035 | €2,195,126 | +€1.3m | +140% |
| Equity | 10/15 | €1,679 | €607,093 | +€605,414 | +36,058% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | - | €605,414 | +€605,414 | |
| Distributable reserves | 133 | - | €605,414 | +€605,414 | |
| Profit (loss) carried forward | 14 | -€2,321 | -€2,321 | = | 0.0% |
| Amounts payable | 17/49 | €911,356 | €1,588,033 | +€676,677 | +74.2% |
| Amounts payable within one year | 42/48 | €911,356 | €1,588,033 | +€676,677 | +74.2% |
| Trade debts | 44 | - | €60 | +€60 | |
| Suppliers | 440/4 | - | €60 | +€60 | |
| Taxes, remuneration and social security | 45 | - | €60,785 | +€60,785 | |
| Taxes | 450/3 | - | €60,785 | +€60,785 | |
| Other amounts payable | 47/48 | €911,356 | €1,527,188 | +€615,832 | +67.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €13,966 | +€13,966 | |
| Other operating charges | 640/8 | €387 | €1,066 | +€679 | +175% |
| Gross operating margin | 9900 | -€1,930 | €10,829 | +€12,759 | |
| Operating profit (loss) | 9901 | -€2,317 | -€4,203 | -€1,886 | -81.4% |
| Financial income | 75/76B | - | €670,448 | +€670,448 | |
| Recurring financial income | 75 | - | €670,448 | +€670,448 | |
| Financial charges | 65/66B | €4 | €46 | +€42 | +1,100% |
| Recurring financial charges | 65 | €4 | €46 | +€42 | +1,100% |
| Profit (loss) for the period before taxes | 9903 | -€2,321 | €666,199 | +€668,520 | |
| Income taxes | 67/77 | - | €60,785 | +€60,785 | |
| Profit (loss) for the period | 9904 | -€2,321 | €605,414 | +€607,735 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,321 | €605,414 | +€607,735 |
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 28 October 2026 via checked.be.