MDMP: what changed
Two fiscal 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.
MDMP
Largest movements
- Stocks and contracts +€7,563
up €7,563 (+23.7%), from €31,899 to €39,462
- Tangible fixed assets -€5,954
down €5,954 (-17.8%), from €33,444 to €27,490
of which Other tangible fixed assets: -€5,018
- Cash +€1,769
up €1,769 (+7.6%), from €23,273 to €25,042
mainly Trade debts (+€27,817) and Depreciation (+€5,954)
- Trade debts +€27,817
up €27,817 (+134.8%), from €20,636 to €48,453
- Profit (loss) carried forward -€16,943
down €16,943 (-39.4%), from -€42,997 to -€59,940
- Current portion of long-term debt -€5,061
down €5,061 (-83.0%), from €6,096 to €1,035
- Other debts -€4,044
down €4,044 (-4.7%), from €85,716 to €81,672
- Gross operating margin -€40,500
down €40,500 (-77.7%), from €52,152 to €11,652
- Taxes +€2,498
up €2,498 (+594.8%), from €420 to €2,918
- Staff costs -€1,471
down €1,471 (-7.7%), from €19,174 to €17,703
- Depreciation -€603
down €603 (-9.2%), from €6,557 to €5,954
- Financial charges -€572
down €572 (-18.4%), from €3,105 to €2,533
of which Financial charges: -€544
From the 31-01-2025 result to the 31-12-2025 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.
Cash bridge derived
Derived from the 31-01-2025 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-01-2025 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €94,677 | €96,394 | +€1,717 | +1.8% |
| Fixed assets | 21/28 | €33,544 | €27,590 | -€5,954 | -17.7% |
| Tangible fixed assets | 22/27 | €33,444 | €27,490 | -€5,954 | -17.8% |
| Furniture and vehicles | 24 | €12,720 | €11,784 | -€936 | -7.4% |
| Other tangible fixed assets | 26 | €20,724 | €15,706 | -€5,018 | -24.2% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €61,133 | €68,804 | +€7,671 | +12.5% |
| Stocks and contracts in progress | 3 | €31,899 | €39,462 | +€7,563 | +23.7% |
| Stocks | 30/36 | €31,899 | €39,462 | +€7,563 | +23.7% |
| Amounts receivable within one year | 40/41 | €3,961 | €3,024 | -€937 | -23.7% |
| Trade receivables | 40 | €3,464 | €3,024 | -€440 | -12.7% |
| Other amounts receivable | 41 | €497 | - | -€497 | |
| Cash at bank and in hand | 54/58 | €23,273 | €25,042 | +€1,769 | +7.6% |
| Deferred charges and accrued income | 490/1 | €2,000 | €1,276 | -€724 | -36.2% |
| Total equity and liabilities | 10/49 | €94,677 | €96,394 | +€1,717 | +1.8% |
| Equity | 10/15 | -€23,374 | -€40,317 | -€16,943 | -72.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,023 | €1,023 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,023 | €1,023 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,023 | €1,023 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€42,997 | -€59,940 | -€16,943 | -39.4% |
| Amounts payable | 17/49 | €118,051 | €136,711 | +€18,660 | +15.8% |
| Amounts payable after more than one year | 17 | €519 | - | -€519 | |
| Financial debts | 170/4 | €519 | - | -€519 | |
| Amounts payable within one year | 42/48 | €117,532 | €136,711 | +€19,179 | +16.3% |
| Current portion of amounts payable after more than one year | 42 | €6,096 | €1,035 | -€5,061 | -83.0% |
| Trade debts | 44 | €20,636 | €48,453 | +€27,817 | +134.8% |
| Suppliers | 440/4 | €20,636 | €48,453 | +€27,817 | +134.8% |
| Advances received on contracts in progress | 46 | - | €793 | +€793 | |
| Taxes, remuneration and social security | 45 | €5,084 | €4,758 | -€326 | -6.4% |
| Taxes | 450/3 | €1,379 | €2,429 | +€1,050 | +76.1% |
| Remuneration and social security | 454/9 | €3,705 | €2,329 | -€1,376 | -37.1% |
| Other amounts payable | 47/48 | €85,716 | €81,672 | -€4,044 | -4.7% |
| Remuneration, social security and pensions | 62 | €19,174 | €17,703 | -€1,471 | -7.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,557 | €5,954 | -€603 | -9.2% |
| Other operating charges | 640/8 | €793 | €708 | -€85 | -10.7% |
| Gross operating margin | 9900 | €52,152 | €11,652 | -€40,500 | -77.7% |
| Operating profit (loss) | 9901 | €25,628 | -€12,713 | -€38,341 | |
| Financial income | 75/76B | €1,377 | €1,221 | -€156 | -11.3% |
| Recurring financial income | 75 | €1,377 | €1,221 | -€156 | -11.3% |
| Financial charges | 65/66B | €3,105 | €2,533 | -€572 | -18.4% |
| Recurring financial charges | 65 | €2,001 | €1,457 | -€544 | -27.2% |
| Non-recurring financial charges | 66B | €1,104 | €1,076 | -€28 | -2.5% |
| Profit (loss) for the period before taxes | 9903 | €23,900 | -€14,025 | -€37,925 | |
| Income taxes | 67/77 | €420 | €2,918 | +€2,498 | +594.8% |
| Profit (loss) for the period | 9904 | €23,480 | -€16,943 | -€40,423 | |
| Profit (loss) for the period to be appropriated | 9905 | €23,480 | -€16,943 | -€40,423 |
Source: filed annual accounts (NBB), fiscal years ended 31 January 2025 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.