MDM 2.1.: 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.
MDM 2.1.
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Debts after one year -€101,487
down €101,487 (-33.8%), from €300,019 to €198,532
- Reserves +€90,000
up €90,000 (+29.5%), from €305,000 to €395,000
- Other debts +€18,814
up €18,814 (+35.4%), from €53,202 to €72,016
- Current portion of long-term debt -€15,282
down €15,282 (-13.1%), from €116,769 to €101,487
- Purchases and services -€178,823
no longer reported in 2025 (was €178,823)
- Turnover -€171,000
no longer reported in 2025 (was €171,000)
- Financial income -€8,000
down €8,000 (-6.7%), from €120,000 to €112,000
- Gross operating margin +€6,856
up €6,856 (+38.2%), from €17,938 to €24,794
- Other operating charges -€4,871
down €4,871 (-68.1%), from €7,157 to €2,286
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 | €854,973 | €856,468 | +€1,495 | +0.2% |
| Fixed assets | 21/28 | €832,800 | €831,809 | -€991 | -0.1% |
| Tangible fixed assets | 22/27 | €2,800 | €1,809 | -€991 | -35.4% |
| Furniture and vehicles | 24 | €2,800 | €1,809 | -€991 | -35.4% |
| Financial fixed assets | 28 | €830,000 | €830,000 | = | 0.0% |
| Current assets | 29/58 | €22,172 | €24,659 | +€2,486 | +11.2% |
| Amounts receivable within one year | 40/41 | €19,667 | €22,166 | +€2,498 | +12.7% |
| Other amounts receivable | 41 | €19,667 | €22,166 | +€2,498 | +12.7% |
| Cash at bank and in hand | 54/58 | €1,718 | €1,114 | -€604 | -35.2% |
| Deferred charges and accrued income | 490/1 | €787 | €1,380 | +€592 | +75.2% |
| Total equity and liabilities | 10/49 | €854,973 | €856,468 | +€1,495 | +0.2% |
| Equity | 10/15 | €349,695 | €440,599 | +€90,905 | +26.0% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Issued capital | 100 | - | €0 | = | |
| Contributions outside capital | 11 | €30,000 | €30,000 | = | 0.0% |
| Other | 1109/19 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €305,000 | €395,000 | +€90,000 | +29.5% |
| Distributable reserves | 133 | €305,000 | €395,000 | +€90,000 | +29.5% |
| Profit (loss) carried forward | 14 | €14,695 | €15,599 | +€905 | +6.2% |
| Amounts payable | 17/49 | €505,278 | €415,868 | -€89,410 | -17.7% |
| Amounts payable after more than one year | 17 | €300,019 | €198,532 | -€101,487 | -33.8% |
| Financial debts | 170/4 | €300,019 | €198,532 | -€101,487 | -33.8% |
| Amounts payable within one year | 42/48 | €205,259 | €217,337 | +€12,078 | +5.9% |
| Current portion of amounts payable after more than one year | 42 | €116,769 | €101,487 | -€15,282 | -13.1% |
| Trade debts | 44 | €16,856 | €18,147 | +€1,290 | +7.7% |
| Suppliers | 440/4 | €16,856 | €18,147 | +€1,290 | +7.7% |
| Taxes, remuneration and social security | 45 | €18,431 | €25,686 | +€7,255 | +39.4% |
| Taxes | 450/3 | €18,400 | €25,686 | +€7,286 | +39.6% |
| Remuneration and social security | 454/9 | €31 | €0 | -€31 | -100% |
| Other amounts payable | 47/48 | €53,202 | €72,016 | +€18,814 | +35.4% |
| Turnover | 70 | €171,000 | - | -€171,000 | |
| Goods, raw materials, services and sundry goods | 60/61 | €178,823 | - | -€178,823 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,360 | €991 | -€368 | -27.1% |
| Other operating charges | 640/8 | €7,157 | €2,286 | -€4,871 | -68.1% |
| Gross operating margin | 9900 | €17,938 | €24,794 | +€6,856 | +38.2% |
| Operating profit (loss) | 9901 | €9,422 | €21,517 | +€12,095 | +128% |
| Financial income | 75/76B | €120,000 | €112,000 | -€8,000 | -6.7% |
| Recurring financial income | 75 | €120,000 | €112,000 | -€8,000 | -6.7% |
| Financial charges | 65/66B | €8,041 | €5,441 | -€2,600 | -32.3% |
| Recurring financial charges | 65 | €8,041 | €5,441 | -€2,600 | -32.3% |
| Profit (loss) for the period before taxes | 9903 | €121,381 | €128,076 | +€6,695 | +5.5% |
| Income taxes | 67/77 | €9,316 | €13,522 | +€4,206 | +45.1% |
| Profit (loss) for the period | 9904 | €112,065 | €114,555 | +€2,490 | +2.2% |
| Profit (loss) for the period to be appropriated | 9905 | €112,065 | €114,555 | +€2,490 | +2.2% |
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 15 October 2026 via checked.be.