MDB SERVICES: 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
MDB SERVICES
NACE 43.222, Installation of electric heating, air conditioning, cooling and ventilation
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€17,065
2024 · €83,406-€66,340
Equity
€192,291
2024 · €189,226+€3,065
Cash
€74,134
2024 · €123,388-€49,255
Balance sheet total
€740,239
2024 · €826,721-€86,481
Largest movements
Assets
- Cash -€49,255
down €49,255 (-39.9%), from €123,388 to €74,134
mainly Debts after one year (-€64,084) and Trade debts (-€23,012)
- Tangible fixed assets -€46,027
down €46,027 (-7.8%), from €592,219 to €546,193
of which Land and buildings: -€36,934
- Receivables within one year +€11,463
up €11,463 (+16.4%), from €69,988 to €81,451
of which Other amounts receivable: +€27,976
Equity and liabilities
- Debts after one year -€64,084
down €64,084 (-13.4%), from €478,441 to €414,356
- Trade debts -€23,012
down €23,012 (-54.5%), from €42,209 to €19,197
- Accrued charges and deferred income -€10,894
no longer reported in 2025 (was €10,894)
Income statement
- Staff costs +€52,271
up €52,271 (+18.0%), from €290,552 to €342,824
- Gross operating margin -€28,964
down €28,964 (-6.2%), from €465,554 to €436,590
- Taxes -€21,684
down €21,684 (-74.4%), from €29,161 to €7,477
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.
Result 2024
€83,406
Gross operating margin
-€28,964
Staff costs
-€52,271
Depreciation
-€4,096
Other operating charges
-€1,410
Financial income
-€3,170
Financial charges
+€1,887
Taxes
+€21,684
Result 2025
€17,065
Cash bridge derived
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.
From operations
+€26,657
Investment
-€2,380
Financing
-€73,532
Cash 2024
€123,388
From operations (derived)
+€26,657
Net result for the year
+€17,065
Depreciation
+€48,407
Receivables after one year
+€900
Stocks and contracts
+€681
Receivables within one year
-€11,463
Deferred charges and accrued income
+€1,082
Trade debts
-€23,012
Tax, wage and social debts
+€4,356
Advances received
+€3,536
Other debts
-€4,000
Accrued charges and deferred income
-€10,894
Investment (derived)
-€2,380
Investment in fixed assets (net)
-€2,380
Financing
-€73,532
Debts after one year
-€64,084
Current portion of long-term debt
+€4,979
Short-term financial debts
-€426
Contributions, distributions and other
-€14,000
Cash 2025
€74,134
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €826,721 | €740,239 | -€86,481 | -10.5% |
| Fixed assets | 21/28 | €592,890 | €546,863 | -€46,027 | -7.8% |
| Tangible fixed assets | 22/27 | €592,219 | €546,193 | -€46,027 | -7.8% |
| Land and buildings | 22 | €571,796 | €534,862 | -€36,934 | -6.5% |
| Plant, machinery and equipment | 23 | €1,009 | €1,186 | +€176 | +17.5% |
| Furniture and vehicles | 24 | €19,414 | €10,145 | -€9,269 | -47.7% |
| Financial fixed assets | 28 | €670 | €670 | = | 0.0% |
| Current assets | 29/58 | €233,831 | €193,376 | -€40,455 | -17.3% |
| Amounts receivable after more than one year | 29 | €900 | - | -€900 | |
| Other amounts receivable | 291 | €900 | - | -€900 | |
| Stocks and contracts in progress | 3 | €35,267 | €34,586 | -€681 | -1.9% |
| Stocks | 30/36 | €35,267 | €34,586 | -€681 | -1.9% |
| Amounts receivable within one year | 40/41 | €69,988 | €81,451 | +€11,463 | +16.4% |
| Trade receivables | 40 | €26,789 | €10,276 | -€16,513 | -61.6% |
| Other amounts receivable | 41 | €43,199 | €71,175 | +€27,976 | +64.8% |
| Cash at bank and in hand | 54/58 | €123,388 | €74,134 | -€49,255 | -39.9% |
| Deferred charges and accrued income | 490/1 | €4,287 | €3,205 | -€1,082 | -25.2% |
| Total equity and liabilities | 10/49 | €826,721 | €740,239 | -€86,481 | -10.5% |
| Equity | 10/15 | €189,226 | €192,291 | +€3,065 | +1.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €168,766 | €171,831 | +€3,065 | +1.8% |
| Amounts payable | 17/49 | €637,495 | €547,948 | -€89,547 | -14.0% |
| Amounts payable after more than one year | 17 | €478,441 | €414,356 | -€64,084 | -13.4% |
| Financial debts | 170/4 | €478,441 | €414,356 | -€64,084 | -13.4% |
| Amounts payable within one year | 42/48 | €148,160 | €133,592 | -€14,568 | -9.8% |
| Current portion of amounts payable after more than one year | 42 | €59,106 | €64,084 | +€4,979 | +8.4% |
| Financial debts | 43 | €743 | €317 | -€426 | -57.3% |
| Credit institutions | 430/8 | €743 | €317 | -€426 | -57.3% |
| Trade debts | 44 | €42,209 | €19,197 | -€23,012 | -54.5% |
| Suppliers | 440/4 | €42,209 | €19,197 | -€23,012 | -54.5% |
| Advances received on contracts in progress | 46 | - | €3,536 | +€3,536 | |
| Taxes, remuneration and social security | 45 | €28,102 | €32,458 | +€4,356 | +15.5% |
| Taxes | 450/3 | €9,161 | €9,220 | +€59 | +0.6% |
| Remuneration and social security | 454/9 | €18,941 | €23,238 | +€4,297 | +22.7% |
| Other amounts payable | 47/48 | €18,000 | €14,000 | -€4,000 | -22.2% |
| Accrued charges and deferred income | 492/3 | €10,894 | - | -€10,894 | |
| Remuneration, social security and pensions | 62 | €290,552 | €342,824 | +€52,271 | +18.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,311 | €48,407 | +€4,096 | +9.2% |
| Other operating charges | 640/8 | €1,958 | €3,368 | +€1,410 | +72.0% |
| Gross operating margin | 9900 | €465,554 | €436,590 | -€28,964 | -6.2% |
| Operating profit (loss) | 9901 | €128,733 | €41,992 | -€86,741 | -67.4% |
| Financial income | 75/76B | €6,563 | €3,393 | -€3,170 | -48.3% |
| Recurring financial income | 75 | €6,563 | €3,393 | -€3,170 | -48.3% |
| Financial charges | 65/66B | €22,730 | €20,843 | -€1,887 | -8.3% |
| Recurring financial charges | 65 | €22,730 | €20,843 | -€1,887 | -8.3% |
| Profit (loss) for the period before taxes | 9903 | €112,566 | €24,542 | -€88,024 | -78.2% |
| Income taxes | 67/77 | €29,161 | €7,477 | -€21,684 | -74.4% |
| Profit (loss) for the period | 9904 | €83,406 | €17,065 | -€66,340 | -79.5% |
| Profit (loss) for the period to be appropriated | 9905 | €83,406 | €17,065 | -€66,340 | -79.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.