MDH GROUP: what changed
Two fiscal 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 GROUP
Largest movements
- Current investments -€174,000
down €174,000 (-63.5%), from €274,000 to €100,000
- Cash +€7,942
up €7,942 (+61.5%), from €12,922 to €20,864
mainly Current investments (+€174,000) and Net result for the year (+€95,957)
- Profit (loss) carried forward -€243,332
no longer reported in 2025 (was €243,332)
- Other debts +€87,453
up €87,453 (+2399.9%), from €3,644 to €91,097
- Tax, wage and social debts -€9,731
down €9,731 (-16.0%), from €60,790 to €51,059
- Gross operating margin +€5,270
up €5,270 (+4.5%), from €117,279 to €122,549
- Financial income -€4,396
down €4,396 (-76.6%), from €5,737 to €1,341
- Staff costs -€1,520
no longer reported in 2025 (was €1,520)
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 | €309,360 | €144,235 | -€165,125 | -53.4% |
| Fixed assets | 21/28 | €2,378 | €1,760 | -€618 | -26.0% |
| Tangible fixed assets | 22/27 | €2,378 | €1,760 | -€618 | -26.0% |
| Plant, machinery and equipment | 23 | €309 | €0 | -€309 | -100.0% |
| Furniture and vehicles | 24 | €2,068 | €1,760 | -€309 | -14.9% |
| Current assets | 29/58 | €306,982 | €142,475 | -€164,506 | -53.6% |
| Amounts receivable within one year | 40/41 | €19,844 | €20,972 | +€1,128 | +5.7% |
| Trade receivables | 40 | €19,844 | €20,972 | +€1,128 | +5.7% |
| Current investments | 50/53 | €274,000 | €100,000 | -€174,000 | -63.5% |
| Cash at bank and in hand | 54/58 | €12,922 | €20,864 | +€7,942 | +61.5% |
| Deferred charges and accrued income | 490/1 | €216 | €639 | +€423 | +195.8% |
| Total equity and liabilities | 10/49 | €309,360 | €144,235 | -€165,125 | -53.4% |
| Equity | 10/15 | €244,832 | €1,500 | -€243,332 | -99.4% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €243,332 | - | -€243,332 | |
| Amounts payable | 17/49 | €64,528 | €142,735 | +€78,207 | +121.2% |
| Amounts payable within one year | 42/48 | €64,528 | €142,735 | +€78,207 | +121.2% |
| Trade debts | 44 | €94 | €579 | +€485 | +516.5% |
| Suppliers | 440/4 | €94 | €579 | +€485 | +516.5% |
| Taxes, remuneration and social security | 45 | €60,790 | €51,059 | -€9,731 | -16.0% |
| Taxes | 450/3 | €60,790 | €51,059 | -€9,731 | -16.0% |
| Other amounts payable | 47/48 | €3,644 | €91,097 | +€87,453 | +2399.9% |
| Remuneration, social security and pensions | 62 | €1,520 | - | -€1,520 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,040 | €1,799 | +€759 | +72.9% |
| Gross operating margin | 9900 | €117,279 | €122,549 | +€5,270 | +4.5% |
| Operating profit (loss) | 9901 | €114,719 | €120,750 | +€6,031 | +5.3% |
| Financial income | 75/76B | €5,737 | €1,341 | -€4,396 | -76.6% |
| Recurring financial income | 75 | €5,737 | €1,341 | -€4,396 | -76.6% |
| Financial charges | 65/66B | €260 | €153 | -€107 | -41.1% |
| Recurring financial charges | 65 | €260 | €153 | -€107 | -41.1% |
| Profit (loss) for the period before taxes | 9903 | €120,196 | €121,938 | +€1,742 | +1.4% |
| Income taxes | 67/77 | €25,518 | €25,981 | +€462 | +1.8% |
| Profit (loss) for the period | 9904 | €94,677 | €95,957 | +€1,280 | +1.4% |
| Profit (loss) for the period to be appropriated | 9905 | €94,677 | €95,957 | +€1,280 | +1.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.