MDB PROJECTS: 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 PROJECTS
Largest movements
- Receivables within one year +€1.9m
up €1.9m (+208%), from €929,605 to €2.9m
of which Other amounts receivable: +€1.0m
- Tangible fixed assets -€876,500
down €876,500 (-9.2%), from €9.6m to €8.7m
of which Land and buildings: -€877,555
- Cash +€188,030
up €188,030 (+824%), from €22,810 to €210,840
mainly Depreciation (+€877,715) and Advances received (+€603,468)
- Advances received +€603,468
new in 2023: €603,468
- Profit (loss) carried forward +€507,096
up €507,096 (+11.6%), from -€4.4m to -€3.9m
- Revaluation surpluses -€440,172
down €440,172 (-9.1%), from €4.8m to €4.4m
- Reserves +€440,171
up €440,171 (+20.0%), from €2.2m to €2.6m
- Tax, wage and social debts +€416,439
up €416,439 (+46.5%), from €895,396 to €1.3m
of which Taxes: +€420,177
- Other operating charges -€338,165
down €338,165 (-63.4%), from €533,007 to €194,842
- Gross operating margin -€311,430
down €311,430 (-13.5%), from €2.3m to €2.0m
- Financial charges -€74,539
down €74,539 (-68.8%), from €108,390 to €33,851
- Staff costs -€45,749
down €45,749 (-59.8%), from €76,551 to €30,802
- Taxes +€39,164
up €39,164 (+12.8%), from €305,689 to €344,853
From the 2022 result to the 2023 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 2022 and 2023 balance sheets and the 2023 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2022 | 2023 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,520,295 | €11,769,186 | +€1.2m | +11.9% |
| Fixed assets | 21/28 | €9,557,944 | €8,681,444 | -€876,500 | -9.2% |
| Tangible fixed assets | 22/27 | €9,557,800 | €8,681,300 | -€876,500 | -9.2% |
| Land and buildings | 22 | €9,557,800 | €8,680,245 | -€877,555 | -9.2% |
| Plant, machinery and equipment | 23 | - | €1,055 | +€1,055 | |
| Financial fixed assets | 28 | €144 | €144 | = | 0.0% |
| Current assets | 29/58 | €962,351 | €3,087,742 | +€2.1m | +221% |
| Amounts receivable within one year | 40/41 | €929,605 | €2,862,382 | +€1.9m | +208% |
| Trade receivables | 40 | €196,494 | €1,092,271 | +€895,777 | +456% |
| Other amounts receivable | 41 | €733,111 | €1,770,111 | +€1.0m | +141% |
| Cash at bank and in hand | 54/58 | €22,810 | €210,840 | +€188,030 | +824% |
| Deferred charges and accrued income | 490/1 | €9,936 | €14,520 | +€4,584 | +46.1% |
| Total equity and liabilities | 10/49 | €10,520,295 | €11,769,186 | +€1.2m | +11.9% |
| Equity | 10/15 | €2,746,272 | €3,253,367 | +€507,095 | +18.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Revaluation surpluses | 12 | €4,841,887 | €4,401,715 | -€440,172 | -9.1% |
| Reserves | 13 | €2,200,858 | €2,641,029 | +€440,171 | +20.0% |
| Distributable reserves | 133 | €2,200,858 | €2,641,029 | +€440,171 | +20.0% |
| Profit (loss) carried forward | 14 | -€4,358,473 | -€3,851,377 | +€507,096 | +11.6% |
| Amounts payable | 17/49 | €7,774,023 | €8,515,819 | +€741,796 | +9.5% |
| Amounts payable after more than one year | 17 | €2,672,386 | €2,667,637 | -€4,749 | -0.2% |
| Financial debts | 170/4 | €2,672,386 | €2,667,637 | -€4,749 | -0.2% |
| Amounts payable within one year | 42/48 | €4,946,421 | €5,848,182 | +€901,761 | +18.2% |
| Current portion of amounts payable after more than one year | 42 | €401,666 | - | -€401,666 | |
| Trade debts | 44 | €921,707 | €1,171,863 | +€250,156 | +27.1% |
| Suppliers | 440/4 | €921,707 | €1,171,863 | +€250,156 | +27.1% |
| Advances received on contracts in progress | 46 | - | €603,468 | +€603,468 | |
| Taxes, remuneration and social security | 45 | €895,396 | €1,311,835 | +€416,439 | +46.5% |
| Taxes | 450/3 | €891,658 | €1,311,835 | +€420,177 | +47.1% |
| Remuneration and social security | 454/9 | €3,738 | - | -€3,738 | |
| Other amounts payable | 47/48 | €2,727,652 | €2,761,016 | +€33,364 | +1.2% |
| Accrued charges and deferred income | 492/3 | €155,216 | - | -€155,216 | |
| Non-recurring operating income | 76A | €8,748 | - | -€8,748 | |
| Remuneration, social security and pensions | 62 | €76,551 | €30,802 | -€45,749 | -59.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €877,554 | €877,715 | +€161 | 0.0% |
| Other operating charges | 640/8 | €533,007 | €194,842 | -€338,165 | -63.4% |
| Gross operating margin | 9900 | €2,300,585 | €1,989,155 | -€311,430 | -13.5% |
| Operating profit (loss) | 9901 | €813,473 | €885,796 | +€72,323 | +8.9% |
| Financial income | 75/76B | €1 | €4 | +€3 | +300% |
| Recurring financial income | 75 | €1 | €4 | +€3 | +300% |
| Financial charges | 65/66B | €108,390 | €33,851 | -€74,539 | -68.8% |
| Recurring financial charges | 65 | €108,390 | €33,851 | -€74,539 | -68.8% |
| Profit (loss) for the period before taxes | 9903 | €705,084 | €851,949 | +€146,865 | +20.8% |
| Income taxes | 67/77 | €305,689 | €344,853 | +€39,164 | +12.8% |
| Profit (loss) for the period | 9904 | €399,395 | €507,096 | +€107,701 | +27.0% |
| Profit (loss) for the period to be appropriated | 9905 | €399,395 | €507,096 | +€107,701 | +27.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2022 and 31 December 2023. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.