MDHub: 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.
MDHub
Largest movements
- Cash +€127,190
up €127,190 (+130.1%), from €97,729 to €224,920
mainly Net result for the year (+€271,104) and Trade debts (+€38,705)
- Deferred charges and accrued income +€119,774
up €119,774 (+243.4%), from €49,210 to €168,984
- Receivables within one year +€21,441
up €21,441 (+104.2%), from €20,569 to €42,010
of which Trade receivables: +€20,391
- Reserves +€224,865
up €224,865 (+22.2%), from €1.0m to €1.2m
of which Distributable reserves: +€224,865
- Trade debts +€38,705
up €38,705 (+4582.9%), from €845 to €39,550
- Tax, wage and social debts +€29,107
up €29,107 (+59.1%), from €49,231 to €78,337
of which Taxes: +€28,860
- Financial income +€180,727
up €180,727 (+4537.6%), from €3,983 to €184,710
- Gross operating margin -€106,566
down €106,566 (-28.1%), from €379,662 to €273,096
- Taxes +€38,507
up €38,507 (+38.4%), from €100,356 to €138,863
- Financial charges -€10,512
down €10,512 (-91.2%), from €11,521 to €1,009
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 | €1,295,434 | €1,565,611 | +€270,177 | +20.9% |
| Fixed assets | 21/28 | €138,582 | €127,104 | -€11,478 | -8.3% |
| Tangible fixed assets | 22/27 | €138,462 | €126,984 | -€11,478 | -8.3% |
| Land and buildings | 22 | €138,338 | €126,984 | -€11,354 | -8.2% |
| Furniture and vehicles | 24 | €124 | - | -€124 | |
| Financial fixed assets | 28 | €120 | €120 | = | 0.0% |
| Current assets | 29/58 | €1,156,853 | €1,438,507 | +€281,654 | +24.3% |
| Amounts receivable within one year | 40/41 | €20,569 | €42,010 | +€21,441 | +104.2% |
| Trade receivables | 40 | €20,569 | €40,960 | +€20,391 | +99.1% |
| Other amounts receivable | 41 | - | €1,050 | +€1,050 | |
| Current investments | 50/53 | €989,344 | €1,002,594 | +€13,249 | +1.3% |
| Cash at bank and in hand | 54/58 | €97,729 | €224,920 | +€127,190 | +130.1% |
| Deferred charges and accrued income | 490/1 | €49,210 | €168,984 | +€119,774 | +243.4% |
| Total equity and liabilities | 10/49 | €1,295,434 | €1,565,611 | +€270,177 | +20.9% |
| Equity | 10/15 | €1,186,666 | €1,411,531 | +€224,865 | +18.9% |
| Contributions | 10/11 | €76,136 | €76,136 | = | 0.0% |
| Reserves | 13 | €1,014,676 | €1,239,541 | +€224,865 | +22.2% |
| Non-distributable reserves | 130/1 | €8,854 | €8,854 | = | 0.0% |
| Reserves not available under the articles | 1311 | €8,854 | €8,854 | = | 0.0% |
| Distributable reserves | 133 | €1,005,822 | €1,230,688 | +€224,865 | +22.4% |
| Profit (loss) carried forward | 14 | €95,854 | €95,854 | = | 0.0% |
| Amounts payable | 17/49 | €108,769 | €154,080 | +€45,312 | +41.7% |
| Amounts payable after more than one year | 17 | €7,917 | - | -€7,917 | |
| Financial debts | 170/4 | €7,917 | - | -€7,917 | |
| Amounts payable within one year | 42/48 | €87,726 | €141,174 | +€53,448 | +60.9% |
| Current portion of amounts payable after more than one year | 42 | €19,000 | €7,917 | -€11,083 | -58.3% |
| Trade debts | 44 | €845 | €39,550 | +€38,705 | +4582.9% |
| Suppliers | 440/4 | €845 | €39,550 | +€38,705 | +4582.9% |
| Taxes, remuneration and social security | 45 | €49,231 | €78,337 | +€29,107 | +59.1% |
| Taxes | 450/3 | €42,057 | €70,917 | +€28,860 | +68.6% |
| Remuneration and social security | 454/9 | €7,173 | €7,420 | +€247 | +3.4% |
| Other amounts payable | 47/48 | €18,651 | €15,369 | -€3,282 | -17.6% |
| Accrued charges and deferred income | 492/3 | €13,126 | €12,906 | -€219 | -1.7% |
| Remuneration, social security and pensions | 62 | €30,545 | €32,463 | +€1,919 | +6.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,896 | €11,478 | -€418 | -3.5% |
| Other operating charges | 640/8 | €3,034 | €2,889 | -€145 | -4.8% |
| Non-recurring operating charges | 66A | €5,569 | - | -€5,569 | |
| Gross operating margin | 9900 | €379,662 | €273,096 | -€106,566 | -28.1% |
| Operating profit (loss) | 9901 | €328,619 | €226,267 | -€102,353 | -31.1% |
| Financial income | 75/76B | €3,983 | €184,710 | +€180,727 | +4537.6% |
| Recurring financial income | 75 | €3,983 | €184,710 | +€180,727 | +4537.6% |
| Financial charges | 65/66B | €11,521 | €1,009 | -€10,512 | -91.2% |
| Recurring financial charges | 65 | €11,521 | €1,009 | -€10,512 | -91.2% |
| Profit (loss) for the period before taxes | 9903 | €321,081 | €409,967 | +€88,886 | +27.7% |
| Income taxes | 67/77 | €100,356 | €138,863 | +€38,507 | +38.4% |
| Profit (loss) for the period | 9904 | €220,725 | €271,104 | +€50,379 | +22.8% |
| Profit (loss) for the period to be appropriated | 9905 | €220,725 | €271,104 | +€50,379 | +22.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.