MDB CAR: 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 CAR
Largest movements
- Stocks and contracts +€52,310
up €52,310 (+1,238%), from €4,225 to €56,535
- Tangible fixed assets -€32,325
down €32,325 (-7.8%), from €412,574 to €380,249
- Receivables within one year -€19,037
down €19,037 (-38.9%), from €48,895 to €29,858
of which Trade receivables: -€19,037
- Financial fixed assets +€7,625
up €7,625 (+226%), from €3,373 to €10,998
- Deferred charges and accrued income -€5,922
down €5,922 (-81.2%), from €7,291 to €1,368
- Other debts -€60,478
down €60,478 (-14.0%), from €432,471 to €371,992
- Profit (loss) carried forward +€53,278
up €53,278 (+24.5%), from -€217,862 to -€164,584
- Trade debts +€32,444
up €32,444 (+93.6%), from €34,676 to €67,120
- Debts after one year -€20,931
down €20,931 (-13.0%), from €160,534 to €139,603
- Gross operating margin +€13,439
up €13,439 (+8.3%), from €162,567 to €176,006
- Other operating charges +€7,340
up €7,340 (+75.0%), from €9,783 to €17,123
- Staff costs -€3,983
down €3,983 (-6.1%), from €64,896 to €60,914
- Depreciation +€1,943
up €1,943 (+4.5%), from €42,713 to €44,656
- Financial income -€1,817
down €1,817 (-26.3%), from €6,906 to €5,089
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 | €477,066 | €482,292 | +€5,226 | +1.1% |
| Fixed assets | 21/28 | €415,947 | €391,247 | -€24,700 | -5.9% |
| Tangible fixed assets | 22/27 | €412,574 | €380,249 | -€32,325 | -7.8% |
| Land and buildings | 22 | €307,052 | €292,533 | -€14,519 | -4.7% |
| Plant, machinery and equipment | 23 | €85,824 | €75,511 | -€10,313 | -12.0% |
| Furniture and vehicles | 24 | €19,698 | €12,205 | -€7,493 | -38.0% |
| Financial fixed assets | 28 | €3,373 | €10,998 | +€7,625 | +226% |
| Current assets | 29/58 | €61,119 | €91,045 | +€29,926 | +49.0% |
| Stocks and contracts in progress | 3 | €4,225 | €56,535 | +€52,310 | +1,238% |
| Stocks | 30/36 | €4,225 | €56,535 | +€52,310 | +1,238% |
| Amounts receivable within one year | 40/41 | €48,895 | €29,858 | -€19,037 | -38.9% |
| Trade receivables | 40 | €48,895 | €29,858 | -€19,037 | -38.9% |
| Other amounts receivable | 41 | €0 | €0 | +€0 | +3.0% |
| Cash at bank and in hand | 54/58 | €708 | €3,284 | +€2,576 | +364% |
| Deferred charges and accrued income | 490/1 | €7,291 | €1,368 | -€5,922 | -81.2% |
| Total equity and liabilities | 10/49 | €477,066 | €482,292 | +€5,226 | +1.1% |
| Equity | 10/15 | -€187,862 | -€134,584 | +€53,278 | +28.4% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Capital | 10 | €30,000 | €30,000 | = | 0.0% |
| Issued capital | 100 | €118,600 | €118,600 | = | 0.0% |
| Uncalled capital | 101 | €88,600 | €88,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€217,862 | -€164,584 | +€53,278 | +24.5% |
| Amounts payable | 17/49 | €664,928 | €616,875 | -€48,053 | -7.2% |
| Amounts payable after more than one year | 17 | €160,534 | €139,603 | -€20,931 | -13.0% |
| Financial debts | 170/4 | €160,534 | €139,603 | -€20,931 | -13.0% |
| Amounts payable within one year | 42/48 | €504,395 | €477,273 | -€27,122 | -5.4% |
| Current portion of amounts payable after more than one year | 42 | €20,399 | €20,931 | +€532 | +2.6% |
| Trade debts | 44 | €34,676 | €67,120 | +€32,444 | +93.6% |
| Suppliers | 440/4 | €34,676 | €67,120 | +€32,444 | +93.6% |
| Taxes, remuneration and social security | 45 | €16,848 | €17,229 | +€381 | +2.3% |
| Taxes | 450/3 | €7,388 | €9,572 | +€2,184 | +29.6% |
| Remuneration and social security | 454/9 | €9,460 | €7,657 | -€1,803 | -19.1% |
| Other amounts payable | 47/48 | €432,471 | €371,992 | -€60,478 | -14.0% |
| Non-recurring operating income | 76A | €2,251 | €3,138 | +€887 | +39.4% |
| Remuneration, social security and pensions | 62 | €64,896 | €60,914 | -€3,983 | -6.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,713 | €44,656 | +€1,943 | +4.5% |
| Other operating charges | 640/8 | €9,783 | €17,123 | +€7,340 | +75.0% |
| Gross operating margin | 9900 | €162,567 | €176,006 | +€13,439 | +8.3% |
| Operating profit (loss) | 9901 | €45,175 | €53,314 | +€8,139 | +18.0% |
| Financial income | 75/76B | €6,906 | €5,089 | -€1,817 | -26.3% |
| Recurring financial income | 75 | €6,906 | €5,089 | -€1,817 | -26.3% |
| Financial charges | 65/66B | €6,250 | €5,124 | -€1,126 | -18.0% |
| Recurring financial charges | 65 | €6,250 | €5,124 | -€1,126 | -18.0% |
| Profit (loss) for the period before taxes | 9903 | €45,830 | €53,278 | +€7,448 | +16.3% |
| Income taxes | 67/77 | €71 | - | -€71 | |
| Profit (loss) for the period | 9904 | €45,759 | €53,278 | +€7,519 | +16.4% |
| Profit (loss) for the period to be appropriated | 9905 | €45,759 | €53,278 | +€7,519 | +16.4% |
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 14 October 2026 via checked.be.