MDF MENUISERIE: 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.
MDF MENUISERIE
Largest movements
- Deferred charges and accrued income +€74,421
up €74,421 (+96.8%), from €76,917 to €151,338
- Cash +€43,152
up €43,152 (+13.1%), from €329,031 to €372,184
mainly Accrued charges and deferred income (+€118,531) and Other debts (+€115,398)
- Tangible fixed assets +€25,929
up €25,929 (+19.1%), from €136,016 to €161,945
of which Furniture and vehicles: +€37,909
- Receivables within one year +€24,868
up €24,868 (+9.4%), from €264,220 to €289,088
of which Other amounts receivable: +€32,178
- Stocks and contracts +€15,750
up €15,750 (+572%), from €2,755 to €18,505
- Accrued charges and deferred income +€118,531
up €118,531 (+52.0%), from €227,909 to €346,440
- Other debts +€115,398
up €115,398 (+123%), from €94,153 to €209,551
- Reserves -€83,841
down €83,841 (-24.9%), from €336,703 to €252,863
of which Distributable reserves: -€83,841
- Debts after one year +€21,440
up €21,440 (+35.9%), from €59,758 to €81,197
- Current portion of long-term debt +€12,400
up €12,400 (+78.5%), from €15,791 to €28,191
- Staff costs +€84,458
up €84,458 (+42.9%), from €196,773 to €281,231
- Gross operating margin +€78,327
up €78,327 (+21.5%), from €364,774 to €443,101
- Taxes -€16,599
down €16,599 (-44.4%), from €37,385 to €20,786
- Other operating charges +€10,204
up €10,204 (+139%), from €7,324 to €17,528
- Depreciation +€9,001
up €9,001 (+41.4%), from €21,757 to €30,758
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.
Derived cash bridge
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 | €811,140 | €994,561 | +€183,420 | +22.6% |
| Fixed assets | 21/28 | €138,217 | €163,446 | +€25,229 | +18.3% |
| Intangible fixed assets | 21 | €1,580 | €880 | -€700 | -44.3% |
| Tangible fixed assets | 22/27 | €136,016 | €161,945 | +€25,929 | +19.1% |
| Land and buildings | 22 | €2,367 | €2,288 | -€80 | -3.4% |
| Plant, machinery and equipment | 23 | €69,799 | €60,256 | -€9,543 | -13.7% |
| Furniture and vehicles | 24 | €46,884 | €84,793 | +€37,909 | +80.9% |
| Other tangible fixed assets | 26 | €16,965 | €14,608 | -€2,357 | -13.9% |
| Financial fixed assets | 28 | €621 | €621 | = | 0.0% |
| Current assets | 29/58 | €672,923 | €831,114 | +€158,191 | +23.5% |
| Stocks and contracts in progress | 3 | €2,755 | €18,505 | +€15,750 | +572% |
| Stocks | 30/36 | €2,755 | €18,505 | +€15,750 | +572% |
| Amounts receivable within one year | 40/41 | €264,220 | €289,088 | +€24,868 | +9.4% |
| Trade receivables | 40 | €23,726 | €16,417 | -€7,310 | -30.8% |
| Other amounts receivable | 41 | €240,493 | €272,671 | +€32,178 | +13.4% |
| Cash at bank and in hand | 54/58 | €329,031 | €372,184 | +€43,152 | +13.1% |
| Deferred charges and accrued income | 490/1 | €76,917 | €151,338 | +€74,421 | +96.8% |
| Total equity and liabilities | 10/49 | €811,140 | €994,561 | +€183,420 | +22.6% |
| Equity | 10/15 | €355,303 | €271,463 | -€83,841 | -23.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €336,703 | €252,863 | -€83,841 | -24.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €334,843 | €251,003 | -€83,841 | -25.0% |
| Amounts payable | 17/49 | €455,837 | €723,098 | +€267,261 | +58.6% |
| Amounts payable after more than one year | 17 | €59,758 | €81,197 | +€21,440 | +35.9% |
| Financial debts | 170/4 | €59,758 | €81,197 | +€21,440 | +35.9% |
| Amounts payable within one year | 42/48 | €168,170 | €295,461 | +€127,290 | +75.7% |
| Current portion of amounts payable after more than one year | 42 | €15,791 | €28,191 | +€12,400 | +78.5% |
| Trade debts | 44 | €21,290 | €27,063 | +€5,773 | +27.1% |
| Suppliers | 440/4 | €21,290 | €27,063 | +€5,773 | +27.1% |
| Advances received on contracts in progress | 46 | €2,000 | - | -€2,000 | |
| Taxes, remuneration and social security | 45 | €34,936 | €30,656 | -€4,280 | -12.3% |
| Taxes | 450/3 | €16,029 | €9,991 | -€6,038 | -37.7% |
| Remuneration and social security | 454/9 | €18,908 | €20,665 | +€1,757 | +9.3% |
| Other amounts payable | 47/48 | €94,153 | €209,551 | +€115,398 | +123% |
| Accrued charges and deferred income | 492/3 | €227,909 | €346,440 | +€118,531 | +52.0% |
| Remuneration, social security and pensions | 62 | €196,773 | €281,231 | +€84,458 | +42.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,757 | €30,758 | +€9,001 | +41.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €717 | - | -€717 | |
| Other operating charges | 640/8 | €7,324 | €17,528 | +€10,204 | +139% |
| Gross operating margin | 9900 | €364,774 | €443,101 | +€78,327 | +21.5% |
| Operating profit (loss) | 9901 | €138,203 | €113,584 | -€24,619 | -17.8% |
| Financial income | 75/76B | €2,360 | €4,564 | +€2,205 | +93.4% |
| Recurring financial income | 75 | €2,360 | €4,564 | +€2,205 | +93.4% |
| Financial charges | 65/66B | €8,205 | €8,582 | +€377 | +4.6% |
| Recurring financial charges | 65 | €8,205 | €8,582 | +€377 | +4.6% |
| Profit (loss) for the period before taxes | 9903 | €132,357 | €109,566 | -€22,791 | -17.2% |
| Income taxes | 67/77 | €37,385 | €20,786 | -€16,599 | -44.4% |
| Profit (loss) for the period | 9904 | €94,972 | €88,780 | -€6,191 | -6.5% |
| Profit (loss) for the period to be appropriated | 9905 | €94,972 | €88,780 | -€6,191 | -6.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.