MDH RENOV-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 RENOV-CONSTRUCT
Largest movements
- Receivables within one year +€44,878
up €44,878 (+2,230%), from €2,012 to €46,891
of which Trade receivables: +€45,281
- Tangible fixed assets -€2,840
down €2,840 (-23.6%), from €12,046 to €9,206
of which Furniture and vehicles: -€4,050
- Cash -€1,325
down €1,325 (-57.2%), from €2,315 to €990
mainly Receivables within one year (-€44,878) and Debts after one year (-€5,894)
- Profit (loss) carried forward +€28,544
up €28,544, from -€20,287 to €8,257
- Trade debts +€13,310
up €13,310 (+363%), from €3,670 to €16,980
- Debts after one year -€5,894
no longer reported in 2025 (was €5,894)
- Tax, wage and social debts +€3,673
up €3,673 (+343%), from €1,071 to €4,744
- Current portion of long-term debt +€1,668
up €1,668 (+29.4%), from €5,664 to €7,332
- Gross operating margin +€45,077
up €45,077, from -€6,330 to €38,747
- Taxes +€4,668
new in 2025: €4,668
- Depreciation -€1,173
down €1,173 (-21.3%), from €5,513 to €4,340
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 | €16,374 | €57,594 | +€41,220 | +252% |
| Fixed assets | 21/28 | €12,046 | €9,206 | -€2,840 | -23.6% |
| Tangible fixed assets | 22/27 | €12,046 | €9,206 | -€2,840 | -23.6% |
| Plant, machinery and equipment | 23 | €493 | €1,702 | +€1,210 | +246% |
| Furniture and vehicles | 24 | €11,554 | €7,504 | -€4,050 | -35.1% |
| Current assets | 29/58 | €4,327 | €48,388 | +€44,060 | +1,018% |
| Amounts receivable within one year | 40/41 | €2,012 | €46,891 | +€44,878 | +2,230% |
| Trade receivables | 40 | €1,286 | €46,567 | +€45,281 | +3,521% |
| Other amounts receivable | 41 | €726 | €324 | -€403 | -55.5% |
| Cash at bank and in hand | 54/58 | €2,315 | €990 | -€1,325 | -57.2% |
| Deferred charges and accrued income | 490/1 | - | €507 | +€507 | |
| Total equity and liabilities | 10/49 | €16,374 | €57,594 | +€41,220 | +252% |
| Equity | 10/15 | -€287 | €28,257 | +€28,544 | |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€20,287 | €8,257 | +€28,544 | |
| Amounts payable | 17/49 | €16,660 | €29,336 | +€12,676 | +76.1% |
| Amounts payable after more than one year | 17 | €5,894 | - | -€5,894 | |
| Financial debts | 170/4 | €5,894 | - | -€5,894 | |
| Amounts payable within one year | 42/48 | €10,766 | €29,336 | +€18,570 | +172% |
| Current portion of amounts payable after more than one year | 42 | €5,664 | €7,332 | +€1,668 | +29.4% |
| Trade debts | 44 | €3,670 | €16,980 | +€13,310 | +363% |
| Suppliers | 440/4 | €3,670 | €16,980 | +€13,310 | +363% |
| Taxes, remuneration and social security | 45 | €1,071 | €4,744 | +€3,673 | +343% |
| Taxes | 450/3 | €1,071 | €4,744 | +€3,673 | +343% |
| Other amounts payable | 47/48 | €362 | €280 | -€81 | -22.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,513 | €4,340 | -€1,173 | -21.3% |
| Other operating charges | 640/8 | €368 | €728 | +€360 | +97.8% |
| Gross operating margin | 9900 | -€6,330 | €38,747 | +€45,077 | |
| Operating profit (loss) | 9901 | -€12,211 | €33,679 | +€45,890 | |
| Financial charges | 65/66B | €720 | €467 | -€253 | -35.2% |
| Recurring financial charges | 65 | €654 | €467 | -€188 | -28.7% |
| Non-recurring financial charges | 66B | €65 | - | -€65 | |
| Profit (loss) for the period before taxes | 9903 | -€12,931 | €33,212 | +€46,143 | |
| Income taxes | 67/77 | - | €4,668 | +€4,668 | |
| Profit (loss) for the period | 9904 | -€12,931 | €28,544 | +€41,475 | |
| Profit (loss) for the period to be appropriated | 9905 | -€12,931 | €28,544 | +€41,475 |
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 20 October 2026 via checked.be.