MDK Development: 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.
MDK Development
Largest movements
- Stocks and contracts +€208,141
new in 2025: €208,141
- Receivables within one year -€55,026
down €55,026 (-55.0%), from €99,967 to €44,941
of which Other amounts receivable: -€40,122
- Cash -€12,261
down €12,261 (-11.7%), from €104,397 to €92,136
mainly Stocks and contracts (-€208,141) and Contributions, distributions and other (-€50,000)
- Deferred charges and accrued income -€5,160
down €5,160 (-88.3%), from €5,843 to €683
- Current portion of long-term debt +€132,751
new in 2025: €132,751
- Tax, wage and social debts -€18,284
down €18,284 (-39.2%), from €46,597 to €28,313
- Trade debts +€15,439
up €15,439 (+530.5%), from €2,910 to €18,349
- Reserves +€5,618
up €5,618 (+3.5%), from €160,072 to €165,690
- Financial charges +€4,756
up €4,756 (+179.3%), from €2,653 to €7,409
- Gross operating margin -€2,915
down €2,915 (-3.6%), from €81,775 to €78,860
- Taxes -€1,906
down €1,906 (-11.2%), from €17,028 to €15,122
- Financial income -€1,783
down €1,783 (-58.7%), from €3,039 to €1,255
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 | €214,918 | €351,015 | +€136,098 | +63.3% |
| Fixed assets | 21/28 | €4,710 | €5,115 | +€405 | +8.6% |
| Tangible fixed assets | 22/27 | €4,710 | €5,115 | +€405 | +8.6% |
| Furniture and vehicles | 24 | €4,710 | €5,115 | +€405 | +8.6% |
| Current assets | 29/58 | €210,207 | €345,901 | +€135,693 | +64.6% |
| Stocks and contracts in progress | 3 | - | €208,141 | +€208,141 | |
| Stocks | 30/36 | - | €208,141 | +€208,141 | |
| Amounts receivable within one year | 40/41 | €99,967 | €44,941 | -€55,026 | -55.0% |
| Trade receivables | 40 | €57,967 | €43,063 | -€14,904 | -25.7% |
| Other amounts receivable | 41 | €42,000 | €1,878 | -€40,122 | -95.5% |
| Cash at bank and in hand | 54/58 | €104,397 | €92,136 | -€12,261 | -11.7% |
| Deferred charges and accrued income | 490/1 | €5,843 | €683 | -€5,160 | -88.3% |
| Total equity and liabilities | 10/49 | €214,918 | €351,015 | +€136,098 | +63.3% |
| Equity | 10/15 | €165,072 | €170,690 | +€5,618 | +3.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €160,072 | €165,690 | +€5,618 | +3.5% |
| Distributable reserves | 133 | €160,072 | €165,690 | +€5,618 | +3.5% |
| Amounts payable | 17/49 | €49,846 | €180,326 | +€130,480 | +261.8% |
| Amounts payable within one year | 42/48 | €49,846 | €180,326 | +€130,480 | +261.8% |
| Current portion of amounts payable after more than one year | 42 | - | €132,751 | +€132,751 | |
| Trade debts | 44 | €2,910 | €18,349 | +€15,439 | +530.5% |
| Suppliers | 440/4 | €2,910 | €18,349 | +€15,439 | +530.5% |
| Taxes, remuneration and social security | 45 | €46,597 | €28,313 | -€18,284 | -39.2% |
| Taxes | 450/3 | €46,597 | €28,313 | -€18,284 | -39.2% |
| Other amounts payable | 47/48 | €338 | €913 | +€575 | +169.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,598 | €1,782 | +€185 | +11.6% |
| Other operating charges | 640/8 | €118 | €185 | +€67 | +56.8% |
| Gross operating margin | 9900 | €81,775 | €78,860 | -€2,915 | -3.6% |
| Operating profit (loss) | 9901 | €80,060 | €76,893 | -€3,167 | -4.0% |
| Financial income | 75/76B | €3,039 | €1,255 | -€1,783 | -58.7% |
| Recurring financial income | 75 | €3,039 | €1,255 | -€1,783 | -58.7% |
| Financial charges | 65/66B | €2,653 | €7,409 | +€4,756 | +179.3% |
| Recurring financial charges | 65 | €2,653 | €7,409 | +€4,756 | +179.3% |
| Profit (loss) for the period before taxes | 9903 | €80,446 | €70,740 | -€9,706 | -12.1% |
| Income taxes | 67/77 | €17,028 | €15,122 | -€1,906 | -11.2% |
| Profit (loss) for the period | 9904 | €63,418 | €55,618 | -€7,800 | -12.3% |
| Profit (loss) for the period to be appropriated | 9905 | €63,418 | €55,618 | -€7,800 | -12.3% |
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.