MDL PROMOTION: 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 PROMOTION
Largest movements
- Stocks and contracts -€911,250
down €911,250 (-77.9%), from €1.2m to €258,750
- Cash +€409,678
up €409,678 (+65,909%), from €622 to €410,300
mainly Stocks and contracts (+€911,250) and Net result for the year (+€111,022)
- Receivables within one year +€54,177
up €54,177 (+483%), from €11,217 to €65,394
of which Other amounts receivable: +€55,992
- Short-term financial debts -€512,500
down €512,500 (-69.5%), from €737,500 to €225,000
- Other debts -€146,949
no longer reported in 2025 (was €146,949)
- Reserves +€111,022
up €111,022 (+62.6%), from €177,382 to €288,404
of which Distributable reserves: +€101,022
- Trade debts +€96,884
up €96,884 (+1,192%), from €8,131 to €105,015
- Gross operating margin +€177,020
up €177,020, from -€23,689 to €153,331
- Taxes +€21,672
new in 2025: €21,672
- Write-downs -€7,743
no longer reported in 2025 (was €7,743)
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 | €1,181,838 | €734,545 | -€447,293 | -37.8% |
| Current assets | 29/58 | €1,181,838 | €734,545 | -€447,293 | -37.8% |
| Stocks and contracts in progress | 3 | €1,170,000 | €258,750 | -€911,250 | -77.9% |
| Stocks | 30/36 | €1,170,000 | €258,750 | -€911,250 | -77.9% |
| Amounts receivable within one year | 40/41 | €11,217 | €65,394 | +€54,177 | +483% |
| Trade receivables | 40 | €1,815 | - | -€1,815 | |
| Other amounts receivable | 41 | €9,402 | €65,394 | +€55,992 | +596% |
| Cash at bank and in hand | 54/58 | €622 | €410,300 | +€409,678 | +65,909% |
| Deferred charges and accrued income | 490/1 | - | €102 | +€102 | |
| Total equity and liabilities | 10/49 | €1,181,838 | €734,545 | -€447,293 | -37.8% |
| Equity | 10/15 | €277,382 | €388,404 | +€111,022 | +40.0% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €177,382 | €288,404 | +€111,022 | +62.6% |
| Non-distributable reserves | 130/1 | - | €10,000 | +€10,000 | |
| Legal reserve | 130 | - | €10,000 | +€10,000 | |
| Distributable reserves | 133 | €177,382 | €278,404 | +€101,022 | +57.0% |
| Amounts payable | 17/49 | €904,456 | €346,141 | -€558,315 | -61.7% |
| Amounts payable within one year | 42/48 | €903,806 | €344,390 | -€559,416 | -61.9% |
| Current portion of amounts payable after more than one year | 42 | - | €3,703 | +€3,703 | |
| Financial debts | 43 | €737,500 | €225,000 | -€512,500 | -69.5% |
| Credit institutions | 430/8 | €737,500 | €225,000 | -€512,500 | -69.5% |
| Trade debts | 44 | €8,131 | €105,015 | +€96,884 | +1,192% |
| Suppliers | 440/4 | €8,131 | €105,015 | +€96,884 | +1,192% |
| Taxes, remuneration and social security | 45 | €11,226 | €10,672 | -€554 | -4.9% |
| Taxes | 450/3 | €11,226 | €10,672 | -€554 | -4.9% |
| Other amounts payable | 47/48 | €146,949 | - | -€146,949 | |
| Accrued charges and deferred income | 492/3 | €650 | €1,751 | +€1,101 | +169% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €7,743 | - | -€7,743 | |
| Other operating charges | 640/8 | €1,030 | €150 | -€880 | -85.4% |
| Gross operating margin | 9900 | -€23,689 | €153,331 | +€177,020 | |
| Operating profit (loss) | 9901 | -€32,462 | €153,181 | +€185,642 | |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €20,115 | €20,486 | +€371 | +1.8% |
| Recurring financial charges | 65 | €20,115 | €20,486 | +€371 | +1.8% |
| Profit (loss) for the period before taxes | 9903 | -€52,577 | €132,694 | +€185,271 | |
| Income taxes | 67/77 | - | €21,672 | +€21,672 | |
| Profit (loss) for the period | 9904 | -€52,577 | €111,022 | +€163,599 | |
| Profit (loss) for the period to be appropriated | 9905 | -€52,577 | €111,022 | +€163,599 |
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 14 October 2026 via checked.be.