MDN CONCEPT: 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.
MDN CONCEPT
Largest movements
- Cash -€91,336
down €91,336 (-83.7%), from €109,092 to €17,756
mainly Net result for the year (-€47,668) and Tax, wage and social debts (-€39,500)
- Receivables within one year +€25,247
up €25,247 (+516.4%), from €4,889 to €30,136
of which Trade receivables: +€14,498
- Financial fixed assets -€17,103
no longer reported in 2025 (was €17,103)
- Tangible fixed assets -€7,675
down €7,675 (-32.4%), from €23,715 to €16,039
of which Plant, machinery and equipment: -€5,408
- Deferred charges and accrued income -€2,415
down €2,415 (-90.1%), from €2,681 to €266
- Profit (loss) carried forward -€47,668
down €47,668 (-253.5%), from -€18,803 to -€66,471
- Tax, wage and social debts -€39,500
down €39,500 (-42.0%), from €94,153 to €54,654
of which Remuneration and social security: -€29,832
- Other debts -€4,660
down €4,660 (-12.9%), from €35,986 to €31,326
- Trade debts -€1,956
down €1,956 (-4.7%), from €41,911 to €39,955
of which Suppliers: -€3,711
- Staff costs -€98,325
down €98,325 (-41.1%), from €239,203 to €140,878
- Gross operating margin -€84,310
down €84,310 (-43.7%), from €193,151 to €108,840
- Depreciation -€5,907
down €5,907 (-43.5%), from €13,583 to €7,675
- Financial charges -€3,181
down €3,181 (-47.1%), from €6,759 to €3,578
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.
Cash bridge derived
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 | €161,307 | €67,524 | -€93,783 | -58.1% |
| Fixed assets | 21/28 | €40,818 | €16,039 | -€24,778 | -60.7% |
| Tangible fixed assets | 22/27 | €23,715 | €16,039 | -€7,675 | -32.4% |
| Plant, machinery and equipment | 23 | €14,124 | €8,717 | -€5,408 | -38.3% |
| Furniture and vehicles | 24 | €5,906 | €4,354 | -€1,552 | -26.3% |
| Other tangible fixed assets | 26 | €3,684 | €2,969 | -€715 | -19.4% |
| Financial fixed assets | 28 | €17,103 | - | -€17,103 | |
| Current assets | 29/58 | €120,489 | €51,484 | -€69,005 | -57.3% |
| Stocks and contracts in progress | 3 | €3,827 | €3,326 | -€501 | -13.1% |
| Stocks | 30/36 | €3,827 | €3,326 | -€501 | -13.1% |
| Amounts receivable within one year | 40/41 | €4,889 | €30,136 | +€25,247 | +516.4% |
| Trade receivables | 40 | €4,646 | €19,144 | +€14,498 | +312.0% |
| Other amounts receivable | 41 | €243 | €10,992 | +€10,749 | +4423.8% |
| Cash at bank and in hand | 54/58 | €109,092 | €17,756 | -€91,336 | -83.7% |
| Deferred charges and accrued income | 490/1 | €2,681 | €266 | -€2,415 | -90.1% |
| Total equity and liabilities | 10/49 | €161,307 | €67,524 | -€93,783 | -58.1% |
| Equity | 10/15 | -€10,743 | -€58,411 | -€47,668 | -443.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€18,803 | -€66,471 | -€47,668 | -253.5% |
| Amounts payable | 17/49 | €172,050 | €125,935 | -€46,115 | -26.8% |
| Amounts payable within one year | 42/48 | €172,050 | €125,935 | -€46,115 | -26.8% |
| Trade debts | 44 | €41,911 | €39,955 | -€1,956 | -4.7% |
| Suppliers | 440/4 | €41,911 | €38,200 | -€3,711 | -8.9% |
| Bills of exchange payable | 441 | - | €1,755 | +€1,755 | |
| Taxes, remuneration and social security | 45 | €94,153 | €54,654 | -€39,500 | -42.0% |
| Taxes | 450/3 | €17,067 | €7,399 | -€9,667 | -56.6% |
| Remuneration and social security | 454/9 | €77,086 | €47,254 | -€29,832 | -38.7% |
| Other amounts payable | 47/48 | €35,986 | €31,326 | -€4,660 | -12.9% |
| Remuneration, social security and pensions | 62 | €239,203 | €140,878 | -€98,325 | -41.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,583 | €7,675 | -€5,907 | -43.5% |
| Other operating charges | 640/8 | €3,491 | €4,829 | +€1,337 | +38.3% |
| Gross operating margin | 9900 | €193,151 | €108,840 | -€84,310 | -43.7% |
| Operating profit (loss) | 9901 | -€63,127 | -€44,542 | +€18,584 | +29.4% |
| Financial income | 75/76B | - | €452 | +€452 | |
| Recurring financial income | 75 | - | €452 | +€452 | |
| Financial charges | 65/66B | €6,759 | €3,578 | -€3,181 | -47.1% |
| Recurring financial charges | 65 | €6,759 | €3,578 | -€3,181 | -47.1% |
| Profit (loss) for the period before taxes | 9903 | -€69,885 | -€47,668 | +€22,217 | +31.8% |
| Profit (loss) for the period | 9904 | -€69,885 | -€47,668 | +€22,217 | +31.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€69,885 | -€47,668 | +€22,217 | +31.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.