MDL ASSOCIATES: 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.
MDL ASSOCIATES
Largest movements
- Cash -€76,035
down €76,035 (-89.9%), from €84,617 to €8,581
mainly Other debts (-€50,332) and Tax, wage and social debts (-€21,304)
- Tangible fixed assets -€13,611
down €13,611 (-18.4%), from €73,791 to €60,180
of which Other tangible fixed assets: -€9,570
- Stocks and contracts -€6,150
down €6,150 (-93.2%), from €6,600 to €450
- Other debts -€50,332
down €50,332 (-99.6%), from €50,516 to €184
- Tax, wage and social debts -€21,304
down €21,304 (-33.5%), from €63,501 to €42,197
of which Taxes: -€22,383
- Trade debts -€13,298
down €13,298 (-58.2%), from €22,841 to €9,542
- Profit (loss) carried forward -€5,320
down €5,320 (-16.1%), from €32,958 to €27,638
- Current portion of long-term debt -€5,293
no longer reported in 2025 (was €5,293)
- Gross operating margin -€72,249
down €72,249 (-23.4%), from €308,969 to €236,720
- Taxes -€24,368
down €24,368, from €19,805 to -€4,563
- Financial charges +€10,971
up €10,971 (+106%), from €10,334 to €21,305
- Other operating charges +€4,602
up €4,602 (+273%), from €1,684 to €6,286
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 | €185,667 | €90,119 | -€95,548 | -51.5% |
| Fixed assets | 21/28 | €79,155 | €65,544 | -€13,611 | -17.2% |
| Tangible fixed assets | 22/27 | €73,791 | €60,180 | -€13,611 | -18.4% |
| Furniture and vehicles | 24 | €6,118 | €4,513 | -€1,605 | -26.2% |
| Leasing and similar rights | 25 | €11,691 | €9,256 | -€2,435 | -20.8% |
| Other tangible fixed assets | 26 | €55,982 | €46,412 | -€9,570 | -17.1% |
| Financial fixed assets | 28 | €5,364 | €5,364 | = | 0.0% |
| Current assets | 29/58 | €106,512 | €24,575 | -€81,937 | -76.9% |
| Stocks and contracts in progress | 3 | €6,600 | €450 | -€6,150 | -93.2% |
| Stocks | 30/36 | €6,600 | €450 | -€6,150 | -93.2% |
| Amounts receivable within one year | 40/41 | €12,823 | €13,487 | +€664 | +5.2% |
| Trade receivables | 40 | - | €2,345 | +€2,345 | |
| Other amounts receivable | 41 | €12,823 | €11,142 | -€1,681 | -13.1% |
| Cash at bank and in hand | 54/58 | €84,617 | €8,581 | -€76,035 | -89.9% |
| Deferred charges and accrued income | 490/1 | €2,473 | €2,057 | -€416 | -16.8% |
| Total equity and liabilities | 10/49 | €185,667 | €90,119 | -€95,548 | -51.5% |
| Equity | 10/15 | €43,516 | €38,196 | -€5,320 | -12.2% |
| Contributions | 10/11 | €8,600 | €8,600 | = | 0.0% |
| Contributions outside capital | 11 | - | €8,600 | +€8,600 | |
| Other | 1109/19 | - | €8,600 | +€8,600 | |
| Reserves | 13 | €1,959 | €1,959 | = | 0.0% |
| Distributable reserves | 133 | €1,959 | €1,959 | = | 0.0% |
| Profit (loss) carried forward | 14 | €32,958 | €27,638 | -€5,320 | -16.1% |
| Amounts payable | 17/49 | €142,151 | €51,923 | -€90,228 | -63.5% |
| Amounts payable within one year | 42/48 | €142,151 | €51,923 | -€90,228 | -63.5% |
| Current portion of amounts payable after more than one year | 42 | €5,293 | - | -€5,293 | |
| Trade debts | 44 | €22,841 | €9,542 | -€13,298 | -58.2% |
| Suppliers | 440/4 | €22,841 | €9,542 | -€13,298 | -58.2% |
| Taxes, remuneration and social security | 45 | €63,501 | €42,197 | -€21,304 | -33.5% |
| Taxes | 450/3 | €49,612 | €27,228 | -€22,383 | -45.1% |
| Remuneration and social security | 454/9 | €13,889 | €14,969 | +€1,079 | +7.8% |
| Other amounts payable | 47/48 | €50,516 | €184 | -€50,332 | -99.6% |
| Non-recurring operating income | 76A | - | €948 | +€948 | |
| Remuneration, social security and pensions | 62 | €206,281 | €205,729 | -€552 | -0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,576 | €13,611 | +€2,034 | +17.6% |
| Other operating charges | 640/8 | €1,684 | €6,286 | +€4,602 | +273% |
| Gross operating margin | 9900 | €308,969 | €236,720 | -€72,249 | -23.4% |
| Operating profit (loss) | 9901 | €89,429 | €11,095 | -€78,334 | -87.6% |
| Financial income | 75/76B | €108 | €328 | +€220 | +205% |
| Recurring financial income | 75 | €108 | €328 | +€220 | +205% |
| Financial charges | 65/66B | €10,334 | €21,305 | +€10,971 | +106% |
| Recurring financial charges | 65 | €10,334 | €21,305 | +€10,971 | +106% |
| Profit (loss) for the period before taxes | 9903 | €79,202 | -€9,883 | -€89,085 | |
| Income taxes | 67/77 | €19,805 | -€4,563 | -€24,368 | |
| Profit (loss) for the period | 9904 | €59,397 | -€5,320 | -€64,717 | |
| Profit (loss) for the period to be appropriated | 9905 | €59,397 | -€5,320 | -€64,717 |
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 22 October 2026 via checked.be.