MDH CONSTRUCT: 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.
MDH CONSTRUCT
Largest movements
- Receivables after one year +€140,965
up €140,965 (+86.5%), from €163,001 to €303,966
- Receivables within one year -€16,692
down €16,692 (-17.9%), from €93,482 to €76,789
of which Trade receivables: -€16,514
- Deferred charges and accrued income -€4,466
down €4,466 (-91.4%), from €4,884 to €418
- Short-term financial debts +€125,000
new in 2025: €125,000
- Tax, wage and social debts -€6,950
down €6,950 (-32.9%), from €21,146 to €14,196
of which Remuneration and social security: -€7,315
- Staff costs +€52,390
up €52,390 (+19.3%), from €270,967 to €323,357
- Gross operating margin +€35,699
up €35,699 (+12.9%), from €276,910 to €312,609
- Financial income +€3,863
up €3,863 (+31.9%), from €12,102 to €15,965
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 | €265,386 | €384,806 | +€119,420 | +45.0% |
| Fixed assets | 21/28 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €0 | €0 | = | |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Current assets | 29/58 | €265,386 | €384,806 | +€119,420 | +45.0% |
| Amounts receivable after more than one year | 29 | €163,001 | €303,966 | +€140,965 | +86.5% |
| Trade receivables | 290 | €163,001 | €303,966 | +€140,965 | +86.5% |
| Amounts receivable within one year | 40/41 | €93,482 | €76,789 | -€16,692 | -17.9% |
| Trade receivables | 40 | €92,954 | €76,440 | -€16,514 | -17.8% |
| Other amounts receivable | 41 | €528 | €349 | -€178 | -33.8% |
| Cash at bank and in hand | 54/58 | €4,019 | €3,632 | -€387 | -9.6% |
| Deferred charges and accrued income | 490/1 | €4,884 | €418 | -€4,466 | -91.4% |
| Total equity and liabilities | 10/49 | €265,386 | €384,806 | +€119,420 | +45.0% |
| Equity | 10/15 | €238,699 | €238,741 | +€42 | 0.0% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Profit (loss) carried forward | 14 | €218,239 | €218,281 | +€42 | 0.0% |
| Amounts payable | 17/49 | €26,686 | €146,065 | +€119,379 | +447% |
| Amounts payable within one year | 42/48 | €26,256 | €146,065 | +€119,809 | +456% |
| Financial debts | 43 | - | €125,000 | +€125,000 | |
| Credit institutions | 430/8 | - | €125,000 | +€125,000 | |
| Trade debts | 44 | €5,071 | €6,830 | +€1,759 | +34.7% |
| Suppliers | 440/4 | €5,071 | €6,830 | +€1,759 | +34.7% |
| Taxes, remuneration and social security | 45 | €21,146 | €14,196 | -€6,950 | -32.9% |
| Taxes | 450/3 | €0 | €365 | +€365 | |
| Remuneration and social security | 454/9 | €21,146 | €13,831 | -€7,315 | -34.6% |
| Other amounts payable | 47/48 | €39 | €39 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €430 | €0 | -€430 | -100% |
| Remuneration, social security and pensions | 62 | €270,967 | €323,357 | +€52,390 | +19.3% |
| Other operating charges | 640/8 | €920 | €1,767 | +€847 | +92.1% |
| Gross operating margin | 9900 | €276,910 | €312,609 | +€35,699 | +12.9% |
| Operating profit (loss) | 9901 | €5,023 | -€12,515 | -€17,538 | |
| Financial income | 75/76B | €12,102 | €15,965 | +€3,863 | +31.9% |
| Recurring financial income | 75 | €12,102 | €15,965 | +€3,863 | +31.9% |
| Financial charges | 65/66B | €1,540 | €3,408 | +€1,869 | +121% |
| Recurring financial charges | 65 | €1,540 | €3,408 | +€1,869 | +121% |
| Profit (loss) for the period before taxes | 9903 | €15,585 | €42 | -€15,544 | -99.7% |
| Profit (loss) for the period | 9904 | €15,585 | €42 | -€15,544 | -99.7% |
| Profit (loss) for the period to be appropriated | 9905 | €15,585 | €42 | -€15,544 | -99.7% |
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.