MDM-concepts: 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-concepts
Largest movements
- Tangible fixed assets +€21,349
up €21,349 (+30.4%), from €70,166 to €91,516
of which Leasing and similar rights: +€25,528
- Receivables within one year +€14,899
up €14,899 (+288%), from €5,172 to €20,071
- Cash +€3,332
new in 2025: €3,332
mainly Depreciation (+€20,255) and Debts after one year (+€15,685)
- Deferred charges and accrued income -€1,708
down €1,708 (-51.8%), from €3,297 to €1,589
- Debts after one year +€15,685
up €15,685 (+23.8%), from €65,796 to €81,481
of which Other amounts payable: +€10,000
- Short-term financial debts +€9,777
up €9,777 (+207%), from €4,715 to €14,491
- Current portion of long-term debt +€7,696
up €7,696 (+82.3%), from €9,356 to €17,052
- Other debts +€5,814
up €5,814 (+197,074%), from €3 to €5,817
- Trade debts +€3,040
up €3,040 (+175%), from €1,737 to €4,778
- Financial charges +€3,172
up €3,172 (+261%), from €1,216 to €4,388
- Gross operating margin +€2,800
up €2,800 (+13.7%), from €20,445 to €23,245
- Depreciation +€2,597
up €2,597 (+14.7%), from €17,659 to €20,255
- Taxes -€642
down €642 (-99.9%), from €643 to €1
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 | €94,738 | €133,008 | +€38,270 | +40.4% |
| Fixed assets | 21/28 | €72,266 | €93,016 | +€20,749 | +28.7% |
| Intangible fixed assets | 21 | €2,100 | €1,500 | -€600 | -28.6% |
| Tangible fixed assets | 22/27 | €70,166 | €91,516 | +€21,349 | +30.4% |
| Plant, machinery and equipment | 23 | €16,765 | €26,005 | +€9,240 | +55.1% |
| Furniture and vehicles | 24 | €15,283 | €1,866 | -€13,418 | -87.8% |
| Leasing and similar rights | 25 | €38,117 | €63,645 | +€25,528 | +67.0% |
| Current assets | 29/58 | €22,471 | €39,992 | +€17,521 | +78.0% |
| Stocks and contracts in progress | 3 | €14,002 | €15,000 | +€998 | +7.1% |
| Stocks | 30/36 | €14,002 | €15,000 | +€998 | +7.1% |
| Amounts receivable within one year | 40/41 | €5,172 | €20,071 | +€14,899 | +288% |
| Trade receivables | 40 | €5,172 | €20,071 | +€14,899 | +288% |
| Cash at bank and in hand | 54/58 | - | €3,332 | +€3,332 | |
| Deferred charges and accrued income | 490/1 | €3,297 | €1,589 | -€1,708 | -51.8% |
| Total equity and liabilities | 10/49 | €94,738 | €133,008 | +€38,270 | +40.4% |
| Equity | 10/15 | €5,453 | €3,554 | -€1,899 | -34.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €2,453 | €554 | -€1,899 | -77.4% |
| Distributable reserves | 133 | €2,453 | €554 | -€1,899 | -77.4% |
| Amounts payable | 17/49 | €89,284 | €129,454 | +€40,169 | +45.0% |
| Amounts payable after more than one year | 17 | €65,796 | €81,481 | +€15,685 | +23.8% |
| Financial debts | 170/4 | €27,796 | €33,481 | +€5,685 | +20.5% |
| Other amounts payable | 178/9 | €38,000 | €48,000 | +€10,000 | +26.3% |
| Amounts payable within one year | 42/48 | €23,488 | €47,973 | +€24,485 | +104% |
| Current portion of amounts payable after more than one year | 42 | €9,356 | €17,052 | +€7,696 | +82.3% |
| Financial debts | 43 | €4,715 | €14,491 | +€9,777 | +207% |
| Credit institutions | 430/8 | €4,715 | €14,491 | +€9,777 | +207% |
| Trade debts | 44 | €1,737 | €4,778 | +€3,040 | +175% |
| Suppliers | 440/4 | €1,737 | €4,778 | +€3,040 | +175% |
| Taxes, remuneration and social security | 45 | €7,677 | €5,835 | -€1,842 | -24.0% |
| Taxes | 450/3 | €7,677 | €5,835 | -€1,842 | -24.0% |
| Other amounts payable | 47/48 | €3 | €5,817 | +€5,814 | +197,074% |
| Non-recurring operating income | 76A | - | €667 | +€667 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,659 | €20,255 | +€2,597 | +14.7% |
| Other operating charges | 640/8 | €313 | €503 | +€190 | +60.6% |
| Gross operating margin | 9900 | €20,445 | €23,245 | +€2,800 | +13.7% |
| Operating profit (loss) | 9901 | €2,474 | €2,487 | +€14 | +0.5% |
| Financial income | 75/76B | €4 | €3 | -€1 | -20.1% |
| Recurring financial income | 75 | €4 | €3 | -€1 | -20.1% |
| Financial charges | 65/66B | €1,216 | €4,388 | +€3,172 | +261% |
| Recurring financial charges | 65 | €1,216 | €4,388 | +€3,172 | +261% |
| Profit (loss) for the period before taxes | 9903 | €1,261 | -€1,898 | -€3,159 | |
| Income taxes | 67/77 | €643 | €1 | -€642 | -99.9% |
| Profit (loss) for the period | 9904 | €618 | -€1,899 | -€2,518 | |
| Profit (loss) for the period to be appropriated | 9905 | €618 | -€1,899 | -€2,518 |
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 19 October 2026 via checked.be.