MDC Group: 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.
MDC Group
Largest movements
- Receivables within one year -€77,959
down €77,959 (-70.6%), from €110,366 to €32,407
of which Trade receivables: -€76,071
- Reserves +€199,074
up €199,074 (+43.3%), from €459,506 to €658,579
of which Distributable reserves: +€199,074
- Other debts -€148,816
down €148,816 (-53.1%), from €280,021 to €131,205
- Debts after one year -€131,017
down €131,017 (-4.6%), from €2.8m to €2.7m
of which Financial debts: -€120,374
- Short-term financial debts -€57,500
down €57,500 (-100.0%), from €57,500 to €0
- Financial income +€146,741
up €146,741 (+2984.9%), from €4,916 to €151,657
- Staff costs +€29,668
up €29,668 (+63.3%), from €46,832 to €76,500
- Depreciation -€28,788
down €28,788 (-31.1%), from €92,615 to €63,826
- Financial charges +€18,532
up €18,532 (+18.8%), from €98,519 to €117,051
- Gross operating margin +€15,271
up €15,271 (+4.4%), from €345,915 to €361,186
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 | €4,227,400 | €4,096,957 | -€130,443 | -3.1% |
| Fixed assets | 21/28 | €4,061,445 | €4,044,029 | -€17,416 | -0.4% |
| Tangible fixed assets | 22/27 | €3,010,688 | €2,992,161 | -€18,527 | -0.6% |
| Land and buildings | 22 | €3,000,851 | €2,992,161 | -€8,690 | -0.3% |
| Furniture and vehicles | 24 | €9,837 | €0 | -€9,837 | -100.0% |
| Financial fixed assets | 28 | €1,050,756 | €1,051,868 | +€1,111 | +0.1% |
| Current assets | 29/58 | €165,955 | €52,928 | -€113,027 | -68.1% |
| Amounts receivable within one year | 40/41 | €110,366 | €32,407 | -€77,959 | -70.6% |
| Trade receivables | 40 | €105,998 | €29,926 | -€76,071 | -71.8% |
| Other amounts receivable | 41 | €4,368 | €2,481 | -€1,887 | -43.2% |
| Cash at bank and in hand | 54/58 | €51,911 | €14,384 | -€37,527 | -72.3% |
| Deferred charges and accrued income | 490/1 | €3,678 | €6,137 | +€2,458 | +66.8% |
| Total equity and liabilities | 10/49 | €4,227,400 | €4,096,957 | -€130,443 | -3.1% |
| Equity | 10/15 | €730,785 | €929,858 | +€199,074 | +27.2% |
| Contributions | 10/11 | €271,000 | €271,000 | = | 0.0% |
| Reserves | 13 | €459,506 | €658,579 | +€199,074 | +43.3% |
| Non-distributable reserves | 130/1 | €7 | €7 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7 | €7 | = | 0.0% |
| Distributable reserves | 133 | €459,499 | €658,573 | +€199,074 | +43.3% |
| Profit (loss) carried forward | 14 | €279 | €279 | = | 0.0% |
| Amounts payable | 17/49 | €3,496,615 | €3,167,098 | -€329,517 | -9.4% |
| Amounts payable after more than one year | 17 | €2,834,448 | €2,703,431 | -€131,017 | -4.6% |
| Financial debts | 170/4 | €2,516,366 | €2,395,991 | -€120,374 | -4.8% |
| Other amounts payable | 178/9 | €318,082 | €307,439 | -€10,643 | -3.3% |
| Amounts payable within one year | 42/48 | €629,126 | €430,603 | -€198,523 | -31.6% |
| Current portion of amounts payable after more than one year | 42 | €203,294 | €218,979 | +€15,685 | +7.7% |
| Financial debts | 43 | €57,500 | €0 | -€57,500 | -100.0% |
| Credit institutions | 430/8 | €57,500 | €0 | -€57,500 | -100.0% |
| Trade debts | 44 | €14,222 | €30,483 | +€16,261 | +114.3% |
| Suppliers | 440/4 | €14,222 | €30,483 | +€16,261 | +114.3% |
| Taxes, remuneration and social security | 45 | €74,089 | €49,936 | -€24,153 | -32.6% |
| Taxes | 450/3 | €51,793 | €29,206 | -€22,587 | -43.6% |
| Remuneration and social security | 454/9 | €22,296 | €20,729 | -€1,566 | -7.0% |
| Other amounts payable | 47/48 | €280,021 | €131,205 | -€148,816 | -53.1% |
| Accrued charges and deferred income | 492/3 | €33,041 | €33,065 | +€23 | +0.1% |
| Remuneration, social security and pensions | 62 | €46,832 | €76,500 | +€29,668 | +63.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €92,615 | €63,826 | -€28,788 | -31.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €160 | €0 | -€160 | -100.0% |
| Other operating charges | 640/8 | €12,397 | €13,556 | +€1,159 | +9.3% |
| Gross operating margin | 9900 | €345,915 | €361,186 | +€15,271 | +4.4% |
| Operating profit (loss) | 9901 | €193,911 | €207,303 | +€13,393 | +6.9% |
| Financial income | 75/76B | €4,916 | €151,657 | +€146,741 | +2984.9% |
| Recurring financial income | 75 | €4,916 | €151,657 | +€146,741 | +2984.9% |
| Financial charges | 65/66B | €98,519 | €117,051 | +€18,532 | +18.8% |
| Recurring financial charges | 65 | €98,519 | €117,051 | +€18,532 | +18.8% |
| Profit (loss) for the period before taxes | 9903 | €100,308 | €241,909 | +€141,601 | +141.2% |
| Income taxes | 67/77 | €29,555 | €42,836 | +€13,281 | +44.9% |
| Profit (loss) for the period | 9904 | €70,753 | €199,074 | +€128,320 | +181.4% |
| Profit (loss) for the period to be appropriated | 9905 | €70,753 | €199,074 | +€128,320 | +181.4% |
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 4 October 2026 via checked.be.