MDE MANAGEMENT & ENGINEERING: 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.
MDE MANAGEMENT & ENGINEERING
Largest movements
- Cash -€98,454
down €98,454 (-72.8%), from €135,190 to €36,736
mainly Contributions, distributions and other (-€89,059) and Receivables within one year (-€11,383)
- Receivables within one year +€11,383
up €11,383 (+23.4%), from €48,689 to €60,072
of which Other amounts receivable: +€9,971
- Tangible fixed assets -€6,535
down €6,535 (-48.3%), from €13,525 to €6,990
of which Leasing and similar rights: -€7,173
- Reserves -€81,132
down €81,132 (-47.2%), from €172,063 to €90,931
- Trade debts -€7,160
down €7,160 (-63.6%), from €11,257 to €4,097
- Current portion of long-term debt -€6,497
no longer reported in 2025 (was €6,497)
- Depreciation -€9,030
down €9,030 (-82.6%), from €10,932 to €1,902
- Gross operating margin -€5,375
down €5,375 (-27.0%), from €19,919 to €14,544
- Other operating charges -€231
down €231 (-13.3%), from €1,740 to €1,509
- Taxes +€210
up €210 (+6.0%), from €3,510 to €3,720
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 | €199,999 | €106,325 | -€93,674 | -46.8% |
| Fixed assets | 21/28 | €13,525 | €6,990 | -€6,535 | -48.3% |
| Tangible fixed assets | 22/27 | €13,525 | €6,990 | -€6,535 | -48.3% |
| Furniture and vehicles | 24 | €2,929 | €2,023 | -€906 | -30.9% |
| Leasing and similar rights | 25 | €7,173 | - | -€7,173 | |
| Other tangible fixed assets | 26 | €3,423 | €4,967 | +€1,544 | +45.1% |
| Current assets | 29/58 | €186,474 | €99,335 | -€87,139 | -46.7% |
| Amounts receivable within one year | 40/41 | €48,689 | €60,072 | +€11,383 | +23.4% |
| Trade receivables | 40 | €35,187 | €36,599 | +€1,412 | +4.0% |
| Other amounts receivable | 41 | €13,502 | €23,473 | +€9,971 | +73.8% |
| Cash at bank and in hand | 54/58 | €135,190 | €36,736 | -€98,454 | -72.8% |
| Deferred charges and accrued income | 490/1 | €2,595 | €2,527 | -€68 | -2.6% |
| Total equity and liabilities | 10/49 | €199,999 | €106,325 | -€93,674 | -46.8% |
| Equity | 10/15 | €177,063 | €95,931 | -€81,132 | -45.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €172,063 | €90,931 | -€81,132 | -47.2% |
| Distributable reserves | 133 | €172,063 | €90,931 | -€81,132 | -47.2% |
| Amounts payable | 17/49 | €22,936 | €10,394 | -€12,542 | -54.7% |
| Amounts payable within one year | 42/48 | €22,936 | €10,394 | -€12,542 | -54.7% |
| Current portion of amounts payable after more than one year | 42 | €6,497 | - | -€6,497 | |
| Trade debts | 44 | €11,257 | €4,097 | -€7,160 | -63.6% |
| Suppliers | 440/4 | €11,257 | €4,097 | -€7,160 | -63.6% |
| Taxes, remuneration and social security | 45 | €5,182 | €6,297 | +€1,115 | +21.5% |
| Taxes | 450/3 | €5,182 | €6,297 | +€1,115 | +21.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,932 | €1,902 | -€9,030 | -82.6% |
| Other operating charges | 640/8 | €1,740 | €1,509 | -€231 | -13.3% |
| Non-recurring operating charges | 66A | €147 | €319 | +€172 | +117.0% |
| Gross operating margin | 9900 | €19,919 | €14,544 | -€5,375 | -27.0% |
| Operating profit (loss) | 9901 | €7,100 | €10,814 | +€3,714 | +52.3% |
| Financial income | 75/76B | €851 | €1,029 | +€178 | +20.9% |
| Recurring financial income | 75 | €851 | €1,029 | +€178 | +20.9% |
| Financial charges | 65/66B | €252 | €196 | -€56 | -22.2% |
| Recurring financial charges | 65 | €252 | €196 | -€56 | -22.2% |
| Profit (loss) for the period before taxes | 9903 | €7,699 | €11,647 | +€3,948 | +51.3% |
| Income taxes | 67/77 | €3,510 | €3,720 | +€210 | +6.0% |
| Profit (loss) for the period | 9904 | €4,189 | €7,927 | +€3,738 | +89.2% |
| Profit (loss) for the period to be appropriated | 9905 | €4,189 | €7,927 | +€3,738 | +89.2% |
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 7 October 2026 via checked.be.