MDGFISC: 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.
MDGFISC
Largest movements
- Deferred charges and accrued income +€7,831
up €7,831 (+174.8%), from €4,481 to €12,311
- Tangible fixed assets -€7,188
down €7,188 (-7.0%), from €102,861 to €95,673
of which Other tangible fixed assets: -€6,355
- Other debts +€11,012
up €11,012 (+774.0%), from €1,423 to €12,435
- Current portion of long-term debt -€7,236
no longer reported in 2025 (was €7,236)
- Profit (loss) carried forward -€4,631
down €4,631 (-6.3%), from €72,990 to €68,359
- Trade debts -€2,817
down €2,817 (-54.4%), from €5,182 to €2,365
- Tax, wage and social debts +€2,299
up €2,299 (+9.6%), from €24,032 to €26,332
of which Remuneration and social security: +€3,526
- Staff costs +€9,691
up €9,691 (+31.7%), from €30,589 to €40,280
- Other operating charges -€3,786
down €3,786 (-89.3%), from €4,237 to €451
- Gross operating margin +€2,703
up €2,703 (+3.1%), from €87,419 to €90,122
- Financial income -€1,518
down €1,518 (-53.9%), from €2,817 to €1,299
- Taxes -€950
down €950 (-9.3%), from €10,266 to €9,316
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 | €223,389 | €222,717 | -€671 | -0.3% |
| Fixed assets | 21/28 | €102,861 | €95,673 | -€7,188 | -7.0% |
| Tangible fixed assets | 22/27 | €102,861 | €95,673 | -€7,188 | -7.0% |
| Furniture and vehicles | 24 | €2,174 | €1,341 | -€833 | -38.3% |
| Other tangible fixed assets | 26 | €100,687 | €94,332 | -€6,355 | -6.3% |
| Current assets | 29/58 | €120,528 | €127,045 | +€6,517 | +5.4% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €43,091 | €42,703 | -€388 | -0.9% |
| Trade receivables | 40 | €33,903 | €37,680 | +€3,777 | +11.1% |
| Other amounts receivable | 41 | €9,187 | €5,023 | -€4,165 | -45.3% |
| Cash at bank and in hand | 54/58 | €72,957 | €72,030 | -€926 | -1.3% |
| Deferred charges and accrued income | 490/1 | €4,481 | €12,311 | +€7,831 | +174.8% |
| Total equity and liabilities | 10/49 | €223,389 | €222,717 | -€671 | -0.3% |
| Equity | 10/15 | €185,391 | €180,760 | -€4,631 | -2.5% |
| Reserves | 13 | €112,401 | €112,401 | = | 0.0% |
| Distributable reserves | 133 | €112,401 | €112,401 | = | 0.0% |
| Profit (loss) carried forward | 14 | €72,990 | €68,359 | -€4,631 | -6.3% |
| Amounts payable | 17/49 | €37,997 | €41,957 | +€3,960 | +10.4% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €37,873 | €41,132 | +€3,259 | +8.6% |
| Current portion of amounts payable after more than one year | 42 | €7,236 | - | -€7,236 | |
| Trade debts | 44 | €5,182 | €2,365 | -€2,817 | -54.4% |
| Suppliers | 440/4 | €5,182 | €2,365 | -€2,817 | -54.4% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €24,032 | €26,332 | +€2,299 | +9.6% |
| Taxes | 450/3 | €15,512 | €14,286 | -€1,226 | -7.9% |
| Remuneration and social security | 454/9 | €8,520 | €12,046 | +€3,526 | +41.4% |
| Other amounts payable | 47/48 | €1,423 | €12,435 | +€11,012 | +774.0% |
| Accrued charges and deferred income | 492/3 | €125 | €826 | +€701 | +563.1% |
| Remuneration, social security and pensions | 62 | €30,589 | €40,280 | +€9,691 | +31.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,703 | €7,188 | -€515 | -6.7% |
| Other operating charges | 640/8 | €4,237 | €451 | -€3,786 | -89.3% |
| Non-recurring operating charges | 66A | -€1 | €1 | +€2 | |
| Gross operating margin | 9900 | €87,419 | €90,122 | +€2,703 | +3.1% |
| Operating profit (loss) | 9901 | €44,891 | €42,201 | -€2,690 | -6.0% |
| Financial income | 75/76B | €2,817 | €1,299 | -€1,518 | -53.9% |
| Recurring financial income | 75 | €2,817 | €1,299 | -€1,518 | -53.9% |
| Financial charges | 65/66B | €820 | €530 | -€290 | -35.4% |
| Recurring financial charges | 65 | €820 | €530 | -€290 | -35.4% |
| Profit (loss) for the period before taxes | 9903 | €46,889 | €42,971 | -€3,918 | -8.4% |
| Income taxes | 67/77 | €10,266 | €9,316 | -€950 | -9.3% |
| Profit (loss) for the period | 9904 | €36,623 | €33,654 | -€2,968 | -8.1% |
| Profit (loss) for the period to be appropriated | 9905 | €36,623 | €33,654 | -€2,968 | -8.1% |
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.