MDF875: 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.
MDF875
Largest movements
- Cash +€9,690
up €9,690 (+5.2%), from €188,111 to €197,801
mainly Net result for the year (+€8,044) and Depreciation (+€5,650)
- Receivables within one year +€9,347
up €9,347 (+6.2%), from €150,531 to €159,879
of which Other amounts receivable: +€10,820
- Tangible fixed assets -€4,321
down €4,321 (-41.2%), from €10,499 to €6,178
of which Furniture and vehicles: -€2,453
- Reserves +€8,044
up €8,044 (+2.6%), from €311,660 to €319,704
- Trade debts +€4,725
up €4,725 (+245.8%), from €1,923 to €6,647
- Gross operating margin -€126,821
down €126,821 (-87.0%), from €145,692 to €18,870
- Taxes -€43,015
down €43,015 (-92.1%), from €46,683 to €3,668
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 | €359,472 | €375,025 | +€15,553 | +4.3% |
| Fixed assets | 21/28 | €10,499 | €6,178 | -€4,321 | -41.2% |
| Tangible fixed assets | 22/27 | €10,499 | €6,178 | -€4,321 | -41.2% |
| Land and buildings | 22 | €3,581 | €1,713 | -€1,868 | -52.2% |
| Furniture and vehicles | 24 | €6,918 | €4,466 | -€2,453 | -35.5% |
| Current assets | 29/58 | €348,973 | €368,847 | +€19,874 | +5.7% |
| Amounts receivable within one year | 40/41 | €150,531 | €159,879 | +€9,347 | +6.2% |
| Trade receivables | 40 | €25,500 | €24,027 | -€1,473 | -5.8% |
| Other amounts receivable | 41 | €125,031 | €135,851 | +€10,820 | +8.7% |
| Cash at bank and in hand | 54/58 | €188,111 | €197,801 | +€9,690 | +5.2% |
| Deferred charges and accrued income | 490/1 | €10,331 | €11,167 | +€837 | +8.1% |
| Total equity and liabilities | 10/49 | €359,472 | €375,025 | +€15,553 | +4.3% |
| Equity | 10/15 | €324,057 | €332,101 | +€8,044 | +2.5% |
| Contributions | 10/11 | €12,397 | €12,397 | = | 0.0% |
| Reserves | 13 | €311,660 | €319,704 | +€8,044 | +2.6% |
| Distributable reserves | 133 | €311,660 | €319,704 | +€8,044 | +2.6% |
| Amounts payable | 17/49 | €35,414 | €42,924 | +€7,509 | +21.2% |
| Amounts payable within one year | 42/48 | €35,414 | €42,924 | +€7,509 | +21.2% |
| Trade debts | 44 | €1,923 | €6,647 | +€4,725 | +245.8% |
| Suppliers | 440/4 | €1,923 | €6,647 | +€4,725 | +245.8% |
| Taxes, remuneration and social security | 45 | €33,492 | €36,277 | +€2,785 | +8.3% |
| Taxes | 450/3 | €33,492 | €36,277 | +€2,785 | +8.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,575 | €5,650 | +€75 | +1.3% |
| Other operating charges | 640/8 | €1,716 | €1,401 | -€316 | -18.4% |
| Gross operating margin | 9900 | €145,692 | €18,870 | -€126,821 | -87.0% |
| Operating profit (loss) | 9901 | €138,401 | €11,820 | -€126,581 | -91.5% |
| Financial charges | 65/66B | €109 | €108 | -€1 | -0.7% |
| Recurring financial charges | 65 | €109 | €108 | -€1 | -0.7% |
| Profit (loss) for the period before taxes | 9903 | €138,292 | €11,712 | -€126,580 | -91.5% |
| Income taxes | 67/77 | €46,683 | €3,668 | -€43,015 | -92.1% |
| Profit (loss) for the period | 9904 | €91,608 | €8,044 | -€83,565 | -91.2% |
| Profit (loss) for the period to be appropriated | 9905 | €91,608 | €8,044 | -€83,565 | -91.2% |
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 11 October 2026 via checked.be.