MDBM: 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.
MDBM
Largest movements
- Cash +€547,708
up €547,708 (+994.1%), from €55,098 to €602,806
mainly Net result for the year (+€316,393) and Investment in fixed assets (net) (+€299,938)
- Tangible fixed assets -€315,158
down €315,158 (-83.7%), from €376,402 to €61,244
of which Land and buildings: -€302,451
- Receivables within one year +€49,164
new in 2025: €49,164
- Reserves +€202,393
up €202,393 (+78.6%), from €257,380 to €459,773
- Other debts +€94,457
up €94,457 (+483.3%), from €19,544 to €114,000
- Tax, wage and social debts +€30,735
up €30,735 (+377.2%), from €8,148 to €38,884
- Debts after one year -€30,636
down €30,636 (-33.0%), from €92,826 to €62,189
- Current portion of long-term debt -€14,118
down €14,118 (-31.5%), from €44,754 to €30,636
- Gross operating margin +€334,932
up €334,932 (+302.4%), from €110,772 to €445,704
- Taxes +€84,067
up €84,067 (+325.2%), from €25,850 to €109,917
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €432,042 | €714,201 | +€282,159 | +65.3% |
| Fixed assets | 21/28 | €376,402 | €61,244 | -€315,158 | -83.7% |
| Tangible fixed assets | 22/27 | €376,402 | €61,244 | -€315,158 | -83.7% |
| Land and buildings | 22 | €308,904 | €6,453 | -€302,451 | -97.9% |
| Furniture and vehicles | 24 | €67,499 | €54,791 | -€12,708 | -18.8% |
| Current assets | 29/58 | €55,639 | €652,957 | +€597,317 | +1073.6% |
| Amounts receivable within one year | 40/41 | - | €49,164 | +€49,164 | |
| Other amounts receivable | 41 | - | €49,164 | +€49,164 | |
| Cash at bank and in hand | 54/58 | €55,098 | €602,806 | +€547,708 | +994.1% |
| Deferred charges and accrued income | 490/1 | €541 | €987 | +€446 | +82.4% |
| Total equity and liabilities | 10/49 | €432,042 | €714,201 | +€282,159 | +65.3% |
| Equity | 10/15 | €263,580 | €465,973 | +€202,393 | +76.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €257,380 | €459,773 | +€202,393 | +78.6% |
| Distributable reserves | 133 | €257,380 | €459,773 | +€202,393 | +78.6% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €168,462 | €248,228 | +€79,766 | +47.3% |
| Amounts payable after more than one year | 17 | €92,826 | €62,189 | -€30,636 | -33.0% |
| Financial debts | 170/4 | €92,826 | €62,189 | -€30,636 | -33.0% |
| Amounts payable within one year | 42/48 | €75,636 | €186,038 | +€110,402 | +146.0% |
| Current portion of amounts payable after more than one year | 42 | €44,754 | €30,636 | -€14,118 | -31.5% |
| Trade debts | 44 | €3,190 | €2,518 | -€672 | -21.1% |
| Suppliers | 440/4 | €3,190 | €2,518 | -€672 | -21.1% |
| Taxes, remuneration and social security | 45 | €8,148 | €38,884 | +€30,735 | +377.2% |
| Taxes | 450/3 | €8,148 | €38,884 | +€30,735 | +377.2% |
| Other amounts payable | 47/48 | €19,544 | €114,000 | +€94,457 | +483.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,247 | €15,221 | +€974 | +6.8% |
| Other operating charges | 640/8 | €3,082 | €2,900 | -€182 | -5.9% |
| Gross operating margin | 9900 | €110,772 | €445,704 | +€334,932 | +302.4% |
| Operating profit (loss) | 9901 | €93,444 | €427,583 | +€334,140 | +357.6% |
| Financial income | 75/76B | €183 | €330 | +€147 | +80.0% |
| Recurring financial income | 75 | €183 | €330 | +€147 | +80.0% |
| Financial charges | 65/66B | €2,390 | €1,603 | -€787 | -32.9% |
| Recurring financial charges | 65 | €2,390 | €1,603 | -€787 | -32.9% |
| Profit (loss) for the period before taxes | 9903 | €91,237 | €426,310 | +€335,073 | +367.3% |
| Income taxes | 67/77 | €25,850 | €109,917 | +€84,067 | +325.2% |
| Profit (loss) for the period | 9904 | €65,387 | €316,393 | +€251,006 | +383.9% |
| Profit (loss) for the period to be appropriated | 9905 | €65,387 | €316,393 | +€251,006 | +383.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.