MDF SERVICES: 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 SERVICES
Largest movements
- Cash +€21,839
up €21,839 (+124%), from €17,676 to €39,515
mainly Depreciation (+€18,191) and Net result for the year (+€14,189)
- Tangible fixed assets -€13,378
down €13,378 (-29.1%), from €45,943 to €32,565
of which Land and buildings: -€10,493
- Receivables within one year -€6,546
down €6,546 (-22.0%), from €29,796 to €23,250
of which Trade receivables: -€6,546
- Debts after one year -€16,408
down €16,408 (-55.9%), from €29,364 to €12,956
- Reserves +€14,189
up €14,189 (+49.5%), from €28,666 to €42,855
of which Distributable reserves: +€14,189
- Tax, wage and social debts +€3,865
up €3,865 (+121%), from €3,207 to €7,071
of which Taxes: +€4,085
- Other debts -€2,155
down €2,155 (-53.2%), from €4,052 to €1,898
- Gross operating margin +€15,352
up €15,352 (+56.9%), from €26,966 to €42,317
- Taxes +€4,430
up €4,430 (+106%), from €4,172 to €8,602
- Other operating charges -€1,087
down €1,087 (-43.9%), from €2,474 to €1,387
- Financial charges -€912
down €912, from €861 to -€50
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 | €97,790 | €98,748 | +€958 | +1.0% |
| Fixed assets | 21/28 | €46,486 | €33,107 | -€13,378 | -28.8% |
| Tangible fixed assets | 22/27 | €45,943 | €32,565 | -€13,378 | -29.1% |
| Land and buildings | 22 | €39,472 | €28,979 | -€10,493 | -26.6% |
| Furniture and vehicles | 24 | €6,472 | €3,587 | -€2,885 | -44.6% |
| Financial fixed assets | 28 | €542 | €542 | = | 0.0% |
| Current assets | 29/58 | €51,304 | €65,640 | +€14,336 | +27.9% |
| Amounts receivable within one year | 40/41 | €29,796 | €23,250 | -€6,546 | -22.0% |
| Trade receivables | 40 | €25,857 | €19,311 | -€6,546 | -25.3% |
| Other amounts receivable | 41 | €3,939 | €3,939 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €17,676 | €39,515 | +€21,839 | +124% |
| Deferred charges and accrued income | 490/1 | €3,833 | €2,876 | -€957 | -25.0% |
| Total equity and liabilities | 10/49 | €97,790 | €98,748 | +€958 | +1.0% |
| Equity | 10/15 | €34,866 | €49,055 | +€14,189 | +40.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €28,666 | €42,855 | +€14,189 | +49.5% |
| 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 | €26,806 | €40,995 | +€14,189 | +52.9% |
| Amounts payable | 17/49 | €62,924 | €49,693 | -€13,231 | -21.0% |
| Amounts payable after more than one year | 17 | €29,364 | €12,956 | -€16,408 | -55.9% |
| Financial debts | 170/4 | €29,364 | €12,956 | -€16,408 | -55.9% |
| Amounts payable within one year | 42/48 | €33,560 | €36,737 | +€3,178 | +9.5% |
| Current portion of amounts payable after more than one year | 42 | €17,670 | €18,642 | +€973 | +5.5% |
| Trade debts | 44 | €8,631 | €9,126 | +€495 | +5.7% |
| Suppliers | 440/4 | €8,631 | €9,126 | +€495 | +5.7% |
| Taxes, remuneration and social security | 45 | €3,207 | €7,071 | +€3,865 | +121% |
| Taxes | 450/3 | €2,987 | €7,071 | +€4,085 | +137% |
| Remuneration and social security | 454/9 | €220 | €0 | -€220 | -100% |
| Other amounts payable | 47/48 | €4,052 | €1,898 | -€2,155 | -53.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,940 | €18,191 | +€251 | +1.4% |
| Other operating charges | 640/8 | €2,474 | €1,387 | -€1,087 | -43.9% |
| Gross operating margin | 9900 | €26,966 | €42,317 | +€15,352 | +56.9% |
| Operating profit (loss) | 9901 | €6,552 | €22,740 | +€16,187 | +247% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €861 | -€50 | -€912 | |
| Recurring financial charges | 65 | €861 | -€50 | -€912 | |
| Profit (loss) for the period before taxes | 9903 | €5,691 | €22,791 | +€17,100 | +300% |
| Income taxes | 67/77 | €4,172 | €8,602 | +€4,430 | +106% |
| Profit (loss) for the period | 9904 | €1,519 | €14,189 | +€12,670 | +834% |
| Profit (loss) for the period to be appropriated | 9905 | €1,519 | €14,189 | +€12,670 | +834% |
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 15 October 2026 via checked.be.