MDB Invest: what changed
MDB Invest
Largest movements
- Tangible fixed assets +€106,281
up €106,281 (+87.6%), from €121,272 to €227,553
of which Plant, machinery and equipment: +€80,521
- Cash +€52,970
up €52,970 (+1,316%), from €4,024 to €56,994
mainly Depreciation (+€97,516) and Other debts (+€54,577)
- Intangible fixed assets -€37,500
down €37,500 (-100%), from €37,500 to €0
- Receivables within one year -€36,983
down €36,983 (-100%), from €36,983 to €0
of which Trade receivables: -€34,255
- Other debts +€54,577
up €54,577 (+195%), from €28,034 to €82,610
- Trade debts +€28,453
up €28,453 (+14.2%), from €200,197 to €228,649
- Depreciation +€8,773
up €8,773 (+9.9%), from €88,743 to €97,516
- Gross operating margin +€7,662
up €7,662 (+8.5%), from €90,058 to €97,720
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 | €373,027 | €457,795 | +€84,768 | +22.7% |
| Fixed assets | 21/28 | €158,772 | €227,553 | +€68,781 | +43.3% |
| Intangible fixed assets | 21 | €37,500 | €0 | -€37,500 | -100% |
| Tangible fixed assets | 22/27 | €121,272 | €227,553 | +€106,281 | +87.6% |
| Land and buildings | 22 | €13,866 | €6,933 | -€6,933 | -50.0% |
| Plant, machinery and equipment | 23 | €37,061 | €117,582 | +€80,521 | +217% |
| Furniture and vehicles | 24 | €70,344 | €103,037 | +€32,693 | +46.5% |
| Current assets | 29/58 | €214,255 | €230,242 | +€15,987 | +7.5% |
| Stocks and contracts in progress | 3 | €20,500 | €20,500 | = | 0.0% |
| Stocks | 30/36 | €20,500 | €20,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €36,983 | €0 | -€36,983 | -100% |
| Trade receivables | 40 | €34,255 | €0 | -€34,255 | -100% |
| Other amounts receivable | 41 | €2,728 | €0 | -€2,728 | -100% |
| Cash at bank and in hand | 54/58 | €4,024 | €56,994 | +€52,970 | +1,316% |
| Deferred charges and accrued income | 490/1 | €152,748 | €152,748 | = | 0.0% |
| Total equity and liabilities | 10/49 | €373,027 | €457,795 | +€84,768 | +22.7% |
| Equity | 10/15 | -€6,655 | -€6,451 | +€204 | +3.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €50,598 | €50,598 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €48,598 | €48,598 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€77,252 | -€77,049 | +€204 | +0.3% |
| Amounts payable | 17/49 | €379,681 | €464,246 | +€84,564 | +22.3% |
| Amounts payable after more than one year | 17 | €150,000 | €150,000 | = | 0.0% |
| Financial debts | 170/4 | €150,000 | €150,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €229,681 | €314,246 | +€84,564 | +36.8% |
| Trade debts | 44 | €200,197 | €228,649 | +€28,453 | +14.2% |
| Suppliers | 440/4 | €200,197 | €228,649 | +€28,453 | +14.2% |
| Taxes, remuneration and social security | 45 | €1,451 | €2,986 | +€1,535 | +106% |
| Taxes | 450/3 | €1,451 | €2,986 | +€1,535 | +106% |
| Other amounts payable | 47/48 | €28,034 | €82,610 | +€54,577 | +195% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €88,743 | €97,516 | +€8,773 | +9.9% |
| Other operating charges | 640/8 | €318 | €0 | -€318 | -100% |
| Gross operating margin | 9900 | €90,058 | €97,720 | +€7,662 | +8.5% |
| Operating profit (loss) | 9901 | €997 | €204 | -€794 | -79.6% |
| Financial charges | 65/66B | €40 | €0 | -€40 | -100% |
| Recurring financial charges | 65 | €40 | €0 | -€40 | -100% |
| Profit (loss) for the period before taxes | 9903 | €958 | €204 | -€754 | -78.7% |
| Income taxes | 67/77 | €351 | €0 | -€351 | -100% |
| Profit (loss) for the period | 9904 | €606 | €204 | -€403 | -66.4% |
| Profit (loss) for the period to be appropriated | 9905 | €606 | €204 | -€403 | -66.4% |
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 4 November 2026 via checked.be.