MDM HOLDING: 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 HOLDING
Largest movements
- Financial fixed assets +€10.0m
up €10.0m (+1,867%), from €535,660 to €10.5m
- Receivables within one year +€159,600
new in 2025: €159,600
- Debts after one year +€10.1m
up €10.1m (+1,832%), from €551,171 to €10.7m
- Gross operating margin +€149,792
up €149,792 (+2,105%), from €7,116 to €156,909
- Financial charges +€92,147
up €92,147 (+1,166%), from €7,901 to €100,048
- Taxes +€14,350
up €14,350 (+1,296%), from €1,107 to €15,457
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 | €768,415 | €10,928,577 | +€10.2m | +1,322% |
| Fixed assets | 21/28 | €535,660 | €10,535,655 | +€10.0m | +1,867% |
| Financial fixed assets | 28 | €535,660 | €10,535,655 | +€10.0m | +1,867% |
| Current assets | 29/58 | €232,755 | €392,922 | +€160,168 | +68.8% |
| Amounts receivable after more than one year | 29 | €220,368 | €225,877 | +€5,509 | +2.5% |
| Other amounts receivable | 291 | €220,368 | €225,877 | +€5,509 | +2.5% |
| Amounts receivable within one year | 40/41 | - | €159,600 | +€159,600 | |
| Trade receivables | 40 | - | €159,600 | +€159,600 | |
| Cash at bank and in hand | 54/58 | €12,386 | €7,445 | -€4,941 | -39.9% |
| Total equity and liabilities | 10/49 | €768,415 | €10,928,577 | +€10.2m | +1,322% |
| Equity | 10/15 | €215,580 | €261,950 | +€46,370 | +21.5% |
| Contributions | 10/11 | €10,974 | €10,974 | = | 0.0% |
| Reserves | 13 | €204,606 | €250,976 | +€46,370 | +22.7% |
| Non-distributable reserves | 130/1 | €3,292 | €3,292 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,292 | €3,292 | = | 0.0% |
| Distributable reserves | 133 | €201,314 | €247,683 | +€46,370 | +23.0% |
| Amounts payable | 17/49 | €552,835 | €10,666,628 | +€10.1m | +1,829% |
| Amounts payable after more than one year | 17 | €551,171 | €10,651,171 | +€10.1m | +1,832% |
| Financial debts | 170/4 | €551,171 | €10,651,171 | +€10.1m | +1,832% |
| Amounts payable within one year | 42/48 | €1,664 | €15,457 | +€13,793 | +829% |
| Taxes, remuneration and social security | 45 | €1,664 | €15,457 | +€13,793 | +829% |
| Taxes | 450/3 | €1,664 | €15,457 | +€13,793 | +829% |
| Other operating charges | 640/8 | €528 | €544 | +€16 | +3.0% |
| Gross operating margin | 9900 | €7,116 | €156,909 | +€149,792 | +2,105% |
| Operating profit (loss) | 9901 | €6,588 | €156,365 | +€149,776 | +2,273% |
| Financial income | 75/76B | €5,375 | €5,509 | +€134 | +2.5% |
| Recurring financial income | 75 | €5,375 | €5,509 | +€134 | +2.5% |
| Financial charges | 65/66B | €7,901 | €100,048 | +€92,147 | +1,166% |
| Recurring financial charges | 65 | €7,901 | €100,048 | +€92,147 | +1,166% |
| Profit (loss) for the period before taxes | 9903 | €4,063 | €61,826 | +€57,764 | +1,422% |
| Income taxes | 67/77 | €1,107 | €15,457 | +€14,350 | +1,296% |
| Profit (loss) for the period | 9904 | €2,956 | €46,370 | +€43,414 | +1,469% |
| Profit (loss) for the period to be appropriated | 9905 | €2,956 | €46,370 | +€43,414 | +1,469% |
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 17 October 2026 via checked.be.