MDive: 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.
MDive
Largest movements
- Receivables within one year +€10,634
up €10,634 (+204.0%), from €5,213 to €15,848
of which Trade receivables: +€11,665
- Cash +€2,180
up €2,180 (+21.5%), from €10,154 to €12,334
mainly Depreciation (+€9,617) and Accrued charges and deferred income (+€8,000)
- Deferred charges and accrued income -€757
down €757 (-75.3%), from €1,006 to €249
- Accrued charges and deferred income +€8,000
new in 2025: €8,000
- Other debts -€6,022
down €6,022 (-13.8%), from €43,728 to €37,706
- Reserves +€5,012
up €5,012 (+156.6%), from €3,200 to €8,212
- Current portion of long-term debt +€3,124
new in 2025: €3,124
- Debts after one year +€1,615
new in 2025: €1,615
- Gross operating margin +€9,398
up €9,398 (+125.8%), from €7,471 to €16,870
- Depreciation +€6,169
up €6,169 (+178.9%), from €3,448 to €9,617
- Other operating charges +€626
new in 2025: €626
- Taxes +€535
up €535 (+68.7%), from €779 to €1,314
- Financial charges +€309
up €309 (+1765.1%), from €18 to €327
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 | €54,950 | €66,481 | +€11,531 | +21.0% |
| Formation expenses | 20 | €2,216 | €1,735 | -€481 | -21.7% |
| Fixed assets | 21/28 | €36,361 | €36,316 | -€46 | -0.1% |
| Tangible fixed assets | 22/27 | €36,361 | €36,316 | -€46 | -0.1% |
| Plant, machinery and equipment | 23 | €36,361 | €28,877 | -€7,485 | -20.6% |
| Furniture and vehicles | 24 | - | €7,439 | +€7,439 | |
| Current assets | 29/58 | €16,373 | €28,430 | +€12,057 | +73.6% |
| Amounts receivable within one year | 40/41 | €5,213 | €15,848 | +€10,634 | +204.0% |
| Trade receivables | 40 | €3,213 | €14,878 | +€11,665 | +363.0% |
| Other amounts receivable | 41 | €2,000 | €970 | -€1,030 | -51.5% |
| Cash at bank and in hand | 54/58 | €10,154 | €12,334 | +€2,180 | +21.5% |
| Deferred charges and accrued income | 490/1 | €1,006 | €249 | -€757 | -75.3% |
| Total equity and liabilities | 10/49 | €54,950 | €66,481 | +€11,531 | +21.0% |
| Equity | 10/15 | €6,727 | €11,712 | +€4,985 | +74.1% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Reserves | 13 | €3,200 | €8,212 | +€5,012 | +156.6% |
| Distributable reserves | 133 | €3,200 | €8,212 | +€5,012 | +156.6% |
| Profit (loss) carried forward | 14 | €27 | €0 | -€27 | -100.0% |
| Amounts payable | 17/49 | €48,224 | €54,770 | +€6,546 | +13.6% |
| Amounts payable after more than one year | 17 | - | €1,615 | +€1,615 | |
| Financial debts | 170/4 | - | €1,615 | +€1,615 | |
| Amounts payable within one year | 42/48 | €48,224 | €45,155 | -€3,069 | -6.4% |
| Current portion of amounts payable after more than one year | 42 | - | €3,124 | +€3,124 | |
| Trade debts | 44 | €1,308 | €1,489 | +€181 | +13.9% |
| Suppliers | 440/4 | €1,308 | €1,489 | +€181 | +13.9% |
| Taxes, remuneration and social security | 45 | €3,188 | €2,835 | -€353 | -11.1% |
| Taxes | 450/3 | €3,188 | €2,835 | -€353 | -11.1% |
| Other amounts payable | 47/48 | €43,728 | €37,706 | -€6,022 | -13.8% |
| Accrued charges and deferred income | 492/3 | - | €8,000 | +€8,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,448 | €9,617 | +€6,169 | +178.9% |
| Other operating charges | 640/8 | - | €626 | +€626 | |
| Gross operating margin | 9900 | €7,471 | €16,870 | +€9,398 | +125.8% |
| Operating profit (loss) | 9901 | €4,023 | €6,626 | +€2,603 | +64.7% |
| Financial charges | 65/66B | €18 | €327 | +€309 | +1765.1% |
| Recurring financial charges | 65 | €18 | €327 | +€309 | +1765.1% |
| Profit (loss) for the period before taxes | 9903 | €4,006 | €6,299 | +€2,294 | +57.3% |
| Income taxes | 67/77 | €779 | €1,314 | +€535 | +68.7% |
| Profit (loss) for the period | 9904 | €3,227 | €4,985 | +€1,759 | +54.5% |
| Profit (loss) for the period to be appropriated | 9905 | €3,227 | €4,985 | +€1,759 | +54.5% |
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 12 October 2026 via checked.be.