MDG COMPANY: what changed
MDG COMPANY
Largest movements
- Receivables within one year +€43,217
up €43,217 (+160%), from €27,017 to €70,235
of which Trade receivables: +€51,184
- Stocks and contracts +€17,919
new in 2025: €17,919
- Cash -€6,183
down €6,183 (-81.4%), from €7,592 to €1,409
mainly Receivables within one year (-€43,217) and Stocks and contracts (-€17,919)
- Intangible fixed assets -€4,166
down €4,166 (-42.1%), from €9,903 to €5,737
- Profit (loss) carried forward +€21,052
up €21,052 (+29.1%), from -€72,347 to -€51,295
- Trade debts +€16,167
up €16,167 (+100%), from €16,133 to €32,300
- Debts after one year +€15,690
up €15,690 (+14.4%), from €108,894 to €124,584
- Gross operating margin +€55,051
up €55,051, from -€17,204 to €37,848
- Depreciation +€1,109
up €1,109 (+7.7%), from €14,393 to €15,502
- Financial income -€471
no longer reported in 2025 (was €471)
- Other operating charges -€424
down €424 (-51.5%), from €824 to €400
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €60,280 | €113,138 | +€52,857 | +87.7% |
| Formation expenses | 20 | €25 | €0 | -€25 | -100% |
| Fixed assets | 21/28 | €25,646 | €22,510 | -€3,136 | -12.2% |
| Intangible fixed assets | 21 | €9,903 | €5,737 | -€4,166 | -42.1% |
| Tangible fixed assets | 22/27 | €15,743 | €16,773 | +€1,030 | +6.5% |
| Furniture and vehicles | 24 | €15,743 | €16,773 | +€1,030 | +6.5% |
| Current assets | 29/58 | €34,609 | €90,628 | +€56,018 | +162% |
| Stocks and contracts in progress | 3 | - | €17,919 | +€17,919 | |
| Stocks | 30/36 | - | €17,919 | +€17,919 | |
| Amounts receivable within one year | 40/41 | €27,017 | €70,235 | +€43,217 | +160% |
| Trade receivables | 40 | €14,807 | €65,991 | +€51,184 | +346% |
| Other amounts receivable | 41 | €12,210 | €4,243 | -€7,967 | -65.2% |
| Cash at bank and in hand | 54/58 | €7,592 | €1,409 | -€6,183 | -81.4% |
| Deferred charges and accrued income | 490/1 | - | €1,066 | +€1,066 | |
| Total equity and liabilities | 10/49 | €60,280 | €113,138 | +€52,857 | +87.7% |
| Equity | 10/15 | -€65,747 | -€44,695 | +€21,052 | +32.0% |
| Contributions | 10/11 | €6,600 | €6,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€72,347 | -€51,295 | +€21,052 | +29.1% |
| Amounts payable | 17/49 | €126,027 | €157,832 | +€31,805 | +25.2% |
| Amounts payable after more than one year | 17 | €108,894 | €124,584 | +€15,690 | +14.4% |
| Other amounts payable | 178/9 | €108,894 | €124,584 | +€15,690 | +14.4% |
| Amounts payable within one year | 42/48 | €17,133 | €33,248 | +€16,115 | +94.1% |
| Trade debts | 44 | €16,133 | €32,300 | +€16,167 | +100% |
| Suppliers | 440/4 | €16,133 | €32,300 | +€16,167 | +100% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Other amounts payable | 47/48 | €1,000 | €949 | -€51 | -5.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,393 | €15,502 | +€1,109 | +7.7% |
| Other operating charges | 640/8 | €824 | €400 | -€424 | -51.5% |
| Gross operating margin | 9900 | -€17,204 | €37,848 | +€55,051 | |
| Operating profit (loss) | 9901 | -€32,421 | €21,946 | +€54,367 | |
| Financial income | 75/76B | €471 | - | -€471 | |
| Recurring financial income | 75 | €471 | - | -€471 | |
| Financial charges | 65/66B | €793 | €894 | +€101 | +12.7% |
| Recurring financial charges | 65 | €793 | €894 | +€101 | +12.7% |
| Profit (loss) for the period before taxes | 9903 | -€32,743 | €21,052 | +€53,795 | |
| Profit (loss) for the period | 9904 | -€32,743 | €21,052 | +€53,795 | |
| Profit (loss) for the period to be appropriated | 9905 | -€32,743 | €21,052 | +€53,795 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.