MDG GROUP: 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.
MDG GROUP
Largest movements
- Tangible fixed assets -€34,093
down €34,093 (-3.7%), from €925,185 to €891,092
of which Land and buildings: -€34,093
- Receivables within one year -€13,888
down €13,888 (-90.0%), from €15,430 to €1,541
of which Trade receivables: -€14,550
- Debts after one year -€59,185
down €59,185 (-6.6%), from €896,150 to €836,965
of which Financial debts: -€62,185
- Profit (loss) carried forward +€16,717
up €16,717 (+13.1%), from €127,258 to €143,974
- Depreciation -€35,828
down €35,828 (-44.8%), from €79,921 to €44,093
- Other operating charges +€10,002
up €10,002 (+111%), from €8,987 to €18,989
- Gross operating margin +€6,193
up €6,193 (+6.1%), from €102,335 to €108,527
- Financial charges +€2,037
up €2,037 (+8.3%), from €24,611 to €26,648
- Taxes +€1,727
up €1,727 (+442%), from €390 to €2,117
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 | €1,166,427 | €1,120,409 | -€46,018 | -3.9% |
| Fixed assets | 21/28 | €945,185 | €911,092 | -€34,093 | -3.6% |
| Tangible fixed assets | 22/27 | €925,185 | €891,092 | -€34,093 | -3.7% |
| Land and buildings | 22 | €925,185 | €891,092 | -€34,093 | -3.7% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €20,000 | €20,000 | = | 0.0% |
| Current assets | 29/58 | €221,242 | €209,317 | -€11,925 | -5.4% |
| Stocks and contracts in progress | 3 | €180,420 | €180,420 | = | 0.0% |
| Stocks | 30/36 | €180,420 | €180,420 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €15,430 | €1,541 | -€13,888 | -90.0% |
| Trade receivables | 40 | €14,550 | €0 | -€14,550 | -100% |
| Other amounts receivable | 41 | €880 | €1,541 | +€661 | +75.1% |
| Cash at bank and in hand | 54/58 | €20,453 | €24,465 | +€4,012 | +19.6% |
| Deferred charges and accrued income | 490/1 | €4,939 | €2,890 | -€2,049 | -41.5% |
| Total equity and liabilities | 10/49 | €1,166,427 | €1,120,409 | -€46,018 | -3.9% |
| Equity | 10/15 | €182,258 | €198,974 | +€16,717 | +9.2% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €5,000 | €5,000 | = | 0.0% |
| Distributable reserves | 133 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €127,258 | €143,974 | +€16,717 | +13.1% |
| Amounts payable | 17/49 | €984,169 | €921,434 | -€62,735 | -6.4% |
| Amounts payable after more than one year | 17 | €896,150 | €836,965 | -€59,185 | -6.6% |
| Financial debts | 170/4 | €892,150 | €829,965 | -€62,185 | -7.0% |
| Other amounts payable | 178/9 | €4,000 | €7,000 | +€3,000 | +75.0% |
| Amounts payable within one year | 42/48 | €75,749 | €71,511 | -€4,238 | -5.6% |
| Current portion of amounts payable after more than one year | 42 | €43,883 | €46,120 | +€2,238 | +5.1% |
| Trade debts | 44 | €11,295 | €17,739 | +€6,444 | +57.1% |
| Suppliers | 440/4 | €11,295 | €17,739 | +€6,444 | +57.1% |
| Taxes, remuneration and social security | 45 | €15,540 | €7,234 | -€8,306 | -53.4% |
| Taxes | 450/3 | €15,540 | €7,234 | -€8,306 | -53.4% |
| Other amounts payable | 47/48 | €5,032 | €418 | -€4,614 | -91.7% |
| Accrued charges and deferred income | 492/3 | €12,270 | €12,959 | +€689 | +5.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €79,921 | €44,093 | -€35,828 | -44.8% |
| Other operating charges | 640/8 | €8,987 | €18,989 | +€10,002 | +111% |
| Gross operating margin | 9900 | €102,335 | €108,527 | +€6,193 | +6.1% |
| Operating profit (loss) | 9901 | €13,427 | €45,445 | +€32,018 | +238% |
| Financial income | 75/76B | €4 | €36 | +€33 | +828% |
| Recurring financial income | 75 | €4 | €36 | +€33 | +828% |
| Financial charges | 65/66B | €24,611 | €26,648 | +€2,037 | +8.3% |
| Recurring financial charges | 65 | €24,611 | €26,648 | +€2,037 | +8.3% |
| Profit (loss) for the period before taxes | 9903 | -€11,180 | €18,834 | +€30,014 | |
| Income taxes | 67/77 | €390 | €2,117 | +€1,727 | +442% |
| Profit (loss) for the period | 9904 | -€11,570 | €16,717 | +€28,287 | |
| Profit (loss) for the period to be appropriated | 9905 | -€11,570 | €16,717 | +€28,287 |
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 16 October 2026 via checked.be.