MDeltour: 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.
MDeltour
Largest movements
- Tangible fixed assets +€34,921
up €34,921 (+494.9%), from €7,056 to €41,978
of which Furniture and vehicles: +€36,631
- Cash +€20,522
up €20,522 (+542.0%), from €3,786 to €24,308
mainly Debts after one year (+€32,202) and Receivables within one year (+€14,758)
- Receivables within one year -€14,758
down €14,758 (-62.3%), from €23,671 to €8,913
of which Trade receivables: -€12,074
- Stocks and contracts +€4,283
up €4,283 (+63.3%), from €6,771 to €11,055
- Deferred charges and accrued income -€1,365
down €1,365 (-95.4%), from €1,430 to €66
- Debts after one year +€32,202
new in 2025: €32,202
- Trade debts -€17,973
down €17,973 (-90.8%), from €19,792 to €1,819
- Reserves +€11,693
up €11,693 (+88.5%), from €13,212 to €24,905
- Current portion of long-term debt +€9,758
new in 2025: €9,758
- Other debts +€8,594
up €8,594 (+381.5%), from €2,253 to €10,847
- Depreciation +€7,756
up €7,756 (+370.1%), from €2,096 to €9,852
- Gross operating margin +€4,657
up €4,657 (+18.9%), from €24,633 to €29,289
- Taxes -€1,908
down €1,908 (-39.3%), from €4,858 to €2,950
- Financial charges +€1,316
up €1,316 (+49.5%), from €2,657 to €3,973
- Other operating charges -€996
down €996 (-54.4%), from €1,832 to €835
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 | €45,114 | €88,118 | +€43,004 | +95.3% |
| Fixed assets | 21/28 | €9,456 | €43,777 | +€34,321 | +363.0% |
| Intangible fixed assets | 21 | €2,399 | €1,799 | -€600 | -25.0% |
| Tangible fixed assets | 22/27 | €7,056 | €41,978 | +€34,921 | +494.9% |
| Plant, machinery and equipment | 23 | €7,056 | €5,346 | -€1,710 | -24.2% |
| Furniture and vehicles | 24 | - | €36,631 | +€36,631 | |
| Current assets | 29/58 | €35,659 | €44,341 | +€8,683 | +24.3% |
| Stocks and contracts in progress | 3 | €6,771 | €11,055 | +€4,283 | +63.3% |
| Stocks | 30/36 | €6,771 | €11,055 | +€4,283 | +63.3% |
| Amounts receivable within one year | 40/41 | €23,671 | €8,913 | -€14,758 | -62.3% |
| Trade receivables | 40 | €18,058 | €5,984 | -€12,074 | -66.9% |
| Other amounts receivable | 41 | €5,612 | €2,929 | -€2,683 | -47.8% |
| Cash at bank and in hand | 54/58 | €3,786 | €24,308 | +€20,522 | +542.0% |
| Deferred charges and accrued income | 490/1 | €1,430 | €66 | -€1,365 | -95.4% |
| Total equity and liabilities | 10/49 | €45,114 | €88,118 | +€43,004 | +95.3% |
| Equity | 10/15 | €18,212 | €29,905 | +€11,693 | +64.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €13,212 | €24,905 | +€11,693 | +88.5% |
| Distributable reserves | 133 | €13,212 | €24,905 | +€11,693 | +88.5% |
| Amounts payable | 17/49 | €26,903 | €58,213 | +€31,311 | +116.4% |
| Amounts payable after more than one year | 17 | - | €32,202 | +€32,202 | |
| Financial debts | 170/4 | - | €32,202 | +€32,202 | |
| Amounts payable within one year | 42/48 | €26,903 | €25,374 | -€1,528 | -5.7% |
| Current portion of amounts payable after more than one year | 42 | - | €9,758 | +€9,758 | |
| Trade debts | 44 | €19,792 | €1,819 | -€17,973 | -90.8% |
| Suppliers | 440/4 | €19,792 | €1,819 | -€17,973 | -90.8% |
| Taxes, remuneration and social security | 45 | €4,858 | €2,950 | -€1,908 | -39.3% |
| Taxes | 450/3 | €4,858 | €2,950 | -€1,908 | -39.3% |
| Other amounts payable | 47/48 | €2,253 | €10,847 | +€8,594 | +381.5% |
| Accrued charges and deferred income | 492/3 | - | €637 | +€637 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,096 | €9,852 | +€7,756 | +370.1% |
| Other operating charges | 640/8 | €1,832 | €835 | -€996 | -54.4% |
| Gross operating margin | 9900 | €24,633 | €29,289 | +€4,657 | +18.9% |
| Operating profit (loss) | 9901 | €20,705 | €18,602 | -€2,103 | -10.2% |
| Financial income | 75/76B | €21 | €14 | -€7 | -32.4% |
| Recurring financial income | 75 | €21 | €14 | -€7 | -32.4% |
| Financial charges | 65/66B | €2,657 | €3,973 | +€1,316 | +49.5% |
| Recurring financial charges | 65 | €2,657 | €3,973 | +€1,316 | +49.5% |
| Profit (loss) for the period before taxes | 9903 | €18,070 | €14,643 | -€3,427 | -19.0% |
| Income taxes | 67/77 | €4,858 | €2,950 | -€1,908 | -39.3% |
| Profit (loss) for the period | 9904 | €13,212 | €11,693 | -€1,519 | -11.5% |
| Profit (loss) for the period to be appropriated | 9905 | €13,212 | €11,693 | -€1,519 | -11.5% |
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 1 October 2026 via checked.be.