MDE 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.
MDE Projects
Largest movements
- Current investments +€50,000
new in 2025: €50,000
- Cash -€49,215
down €49,215 (-53.1%), from €92,681 to €43,466
mainly Current investments (-€50,000) and Contributions, distributions and other (-€23,529)
- Receivables within one year -€3,417
down €3,417 (-19.5%), from €17,498 to €14,081
of which Trade receivables: -€7,700
- Other debts -€4,515
no longer reported in 2025 (was €4,515)
- Tax, wage and social debts +€2,594
up €2,594 (+72.9%), from €3,560 to €6,154
- Gross operating margin -€19,809
down €19,809 (-37.8%), from €52,467 to €32,658
- Taxes -€3,704
down €3,704 (-33.9%), from €10,935 to €7,231
- Financial income +€729
new in 2025: €729
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 | €111,882 | €110,006 | -€1,876 | -1.7% |
| Fixed assets | 21/28 | €972 | €906 | -€66 | -6.8% |
| Tangible fixed assets | 22/27 | €972 | €906 | -€66 | -6.8% |
| Plant, machinery and equipment | 23 | €972 | - | -€972 | |
| Furniture and vehicles | 24 | - | €906 | +€906 | |
| Current assets | 29/58 | €110,910 | €109,100 | -€1,810 | -1.6% |
| Amounts receivable within one year | 40/41 | €17,498 | €14,081 | -€3,417 | -19.5% |
| Trade receivables | 40 | €16,923 | €9,223 | -€7,700 | -45.5% |
| Other amounts receivable | 41 | €576 | €4,858 | +€4,282 | +743.7% |
| Current investments | 50/53 | - | €50,000 | +€50,000 | |
| Cash at bank and in hand | 54/58 | €92,681 | €43,466 | -€49,215 | -53.1% |
| Deferred charges and accrued income | 490/1 | €731 | €1,553 | +€823 | +112.6% |
| Total equity and liabilities | 10/49 | €111,882 | €110,006 | -€1,876 | -1.7% |
| Equity | 10/15 | €102,659 | €102,698 | +€38 | 0.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €97,659 | €97,698 | +€38 | 0.0% |
| Distributable reserves | 133 | €97,659 | €97,698 | +€38 | 0.0% |
| Amounts payable | 17/49 | €9,223 | €7,308 | -€1,915 | -20.8% |
| Amounts payable within one year | 42/48 | €9,223 | €7,308 | -€1,915 | -20.8% |
| Trade debts | 44 | €1,147 | €1,154 | +€6 | +0.6% |
| Suppliers | 440/4 | €1,147 | €1,154 | +€6 | +0.6% |
| Taxes, remuneration and social security | 45 | €3,560 | €6,154 | +€2,594 | +72.9% |
| Taxes | 450/3 | €3,560 | €6,154 | +€2,594 | +72.9% |
| Other amounts payable | 47/48 | €4,515 | - | -€4,515 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €615 | €717 | +€103 | +16.7% |
| Other operating charges | 640/8 | €899 | €1,092 | +€193 | +21.5% |
| Gross operating margin | 9900 | €52,467 | €32,658 | -€19,809 | -37.8% |
| Operating profit (loss) | 9901 | €50,954 | €30,849 | -€20,105 | -39.5% |
| Financial income | 75/76B | - | €729 | +€729 | |
| Recurring financial income | 75 | - | €729 | +€729 | |
| Financial charges | 65/66B | €1,066 | €779 | -€287 | -26.9% |
| Recurring financial charges | 65 | €1,066 | €779 | -€287 | -26.9% |
| Profit (loss) for the period before taxes | 9903 | €49,888 | €30,799 | -€19,089 | -38.3% |
| Income taxes | 67/77 | €10,935 | €7,231 | -€3,704 | -33.9% |
| Profit (loss) for the period | 9904 | €38,952 | €23,568 | -€15,384 | -39.5% |
| Profit (loss) for the period to be appropriated | 9905 | €38,952 | €23,568 | -€15,384 | -39.5% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.