MDHS: 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.
MDHS
Largest movements
- Cash +€16,073
up €16,073 (+89.6%), from €17,941 to €34,014
mainly Net result for the year (+€16,554) and Depreciation (+€4,250)
- Tangible fixed assets -€4,250
down €4,250 (-63.2%), from €6,729 to €2,479
- Profit (loss) carried forward +€16,554
up €16,554 (+131.8%), from €12,557 to €29,111
- Other debts -€5,060
down €5,060 (-100.0%), from €5,060 to €0
- Tax, wage and social debts +€1,816
up €1,816 (+49.4%), from €3,674 to €5,490
- Trade debts -€1,610
down €1,610 (-80.6%), from €1,997 to €387
- Gross operating margin +€8,157
up €8,157 (+43.6%), from €18,707 to €26,864
- Depreciation +€2,479
up €2,479 (+140.0%), from €1,771 to €4,250
- Taxes +€1,816
up €1,816 (+49.4%), from €3,674 to €5,490
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 | €25,787 | €37,489 | +€11,701 | +45.4% |
| Fixed assets | 21/28 | €6,729 | €2,479 | -€4,250 | -63.2% |
| Tangible fixed assets | 22/27 | €6,729 | €2,479 | -€4,250 | -63.2% |
| Furniture and vehicles | 24 | €6,729 | €2,479 | -€4,250 | -63.2% |
| Current assets | 29/58 | €19,058 | €35,009 | +€15,951 | +83.7% |
| Amounts receivable within one year | 40/41 | €254 | €0 | -€254 | -100.0% |
| Trade receivables | 40 | €254 | €0 | -€254 | -100.0% |
| Cash at bank and in hand | 54/58 | €17,941 | €34,014 | +€16,073 | +89.6% |
| Deferred charges and accrued income | 490/1 | €863 | €995 | +€132 | +15.3% |
| Total equity and liabilities | 10/49 | €25,787 | €37,489 | +€11,701 | +45.4% |
| Equity | 10/15 | €15,057 | €31,611 | +€16,554 | +109.9% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €12,557 | €29,111 | +€16,554 | +131.8% |
| Amounts payable | 17/49 | €10,730 | €5,877 | -€4,853 | -45.2% |
| Amounts payable within one year | 42/48 | €10,730 | €5,877 | -€4,853 | -45.2% |
| Trade debts | 44 | €1,997 | €387 | -€1,610 | -80.6% |
| Suppliers | 440/4 | €1,997 | €387 | -€1,610 | -80.6% |
| Taxes, remuneration and social security | 45 | €3,674 | €5,490 | +€1,816 | +49.4% |
| Taxes | 450/3 | €3,674 | €5,490 | +€1,816 | +49.4% |
| Other amounts payable | 47/48 | €5,060 | €0 | -€5,060 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,771 | €4,250 | +€2,479 | +140.0% |
| Other operating charges | 640/8 | €618 | €510 | -€108 | -17.5% |
| Gross operating margin | 9900 | €18,707 | €26,864 | +€8,157 | +43.6% |
| Operating profit (loss) | 9901 | €16,318 | €22,104 | +€5,786 | +35.5% |
| Financial charges | 65/66B | €87 | €60 | -€27 | -31.0% |
| Recurring financial charges | 65 | €87 | €60 | -€27 | -31.0% |
| Profit (loss) for the period before taxes | 9903 | €16,231 | €22,044 | +€5,813 | +35.8% |
| Income taxes | 67/77 | €3,674 | €5,490 | +€1,816 | +49.4% |
| Profit (loss) for the period | 9904 | €12,557 | €16,554 | +€3,996 | +31.8% |
| Profit (loss) for the period to be appropriated | 9905 | €12,557 | €16,554 | +€3,996 | +31.8% |
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 4 October 2026 via checked.be.