MDNGROUP: 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.
MDNGROUP
Largest movements
- Deferred charges and accrued income +€76,692
up €76,692 (+1,466%), from €5,230 to €81,922
- Receivables within one year -€29,969
down €29,969 (-5.6%), from €534,788 to €504,819
of which Other amounts receivable: -€45,411
- Receivables after one year -€22,688
down €22,688 (-15.5%), from €146,340 to €123,652
- Intangible fixed assets -€20,149
down €20,149 (-49.2%), from €40,943 to €20,794
- Tangible fixed assets +€15,231
up €15,231 (+20.2%), from €75,567 to €90,797
of which Furniture and vehicles: +€16,421
- Other debts -€135,980
down €135,980 (-92.1%), from €147,700 to €11,720
- Reserves +€132,316
up €132,316 (+19.0%), from €695,116 to €827,432
of which Distributable reserves: +€132,316
- Debts after one year -€39,976
down €39,976 (-51.0%), from €78,449 to €38,473
of which Financial debts: -€28,367
- Tax, wage and social debts +€27,868
up €27,868 (+33.2%), from €84,023 to €111,891
of which Remuneration and social security: +€26,873
- Current portion of long-term debt +€10,920
up €10,920 (+59.6%), from €18,317 to €29,237
- Gross operating margin +€117,682
up €117,682 (+38.9%), from €302,634 to €420,316
- Staff costs +€57,127
up €57,127 (+39.8%), from €143,633 to €200,759
- Taxes +€17,531
up €17,531 (+37.2%), from €47,112 to €64,643
- Depreciation +€11,521
up €11,521 (+37.9%), from €30,411 to €41,932
- Financial income +€5,974
up €5,974 (+27.9%), from €21,413 to €27,387
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,030,418 | €1,039,299 | +€8,881 | +0.9% |
| Fixed assets | 21/28 | €116,509 | €111,591 | -€4,918 | -4.2% |
| Intangible fixed assets | 21 | €40,943 | €20,794 | -€20,149 | -49.2% |
| Tangible fixed assets | 22/27 | €75,567 | €90,797 | +€15,231 | +20.2% |
| Furniture and vehicles | 24 | €64,579 | €81,000 | +€16,421 | +25.4% |
| Other tangible fixed assets | 26 | €10,987 | €9,797 | -€1,191 | -10.8% |
| Current assets | 29/58 | €913,909 | €927,708 | +€13,800 | +1.5% |
| Amounts receivable after more than one year | 29 | €146,340 | €123,652 | -€22,688 | -15.5% |
| Trade receivables | 290 | €146,340 | €123,652 | -€22,688 | -15.5% |
| Amounts receivable within one year | 40/41 | €534,788 | €504,819 | -€29,969 | -5.6% |
| Trade receivables | 40 | €3,483 | €18,925 | +€15,442 | +443% |
| Other amounts receivable | 41 | €531,305 | €485,895 | -€45,411 | -8.5% |
| Cash at bank and in hand | 54/58 | €227,551 | €217,315 | -€10,236 | -4.5% |
| Deferred charges and accrued income | 490/1 | €5,230 | €81,922 | +€76,692 | +1,466% |
| Total equity and liabilities | 10/49 | €1,030,418 | €1,039,299 | +€8,881 | +0.9% |
| Equity | 10/15 | €695,416 | €827,732 | +€132,316 | +19.0% |
| Contributions | 10/11 | €300 | €300 | = | 0.0% |
| Reserves | 13 | €695,116 | €827,432 | +€132,316 | +19.0% |
| Non-distributable reserves | 130/1 | €30 | €30 | = | 0.0% |
| Other | 1319 | €30 | €30 | = | 0.0% |
| Distributable reserves | 133 | €695,086 | €827,402 | +€132,316 | +19.0% |
| Amounts payable | 17/49 | €335,002 | €211,567 | -€123,435 | -36.8% |
| Amounts payable after more than one year | 17 | €78,449 | €38,473 | -€39,976 | -51.0% |
| Financial debts | 170/4 | €66,840 | €38,473 | -€28,367 | -42.4% |
| Other amounts payable | 178/9 | €11,609 | - | -€11,609 | |
| Amounts payable within one year | 42/48 | €254,964 | €165,644 | -€89,320 | -35.0% |
| Current portion of amounts payable after more than one year | 42 | €18,317 | €29,237 | +€10,920 | +59.6% |
| Trade debts | 44 | €4,924 | €12,795 | +€7,871 | +160% |
| Suppliers | 440/4 | €4,924 | €12,795 | +€7,871 | +160% |
| Taxes, remuneration and social security | 45 | €84,023 | €111,891 | +€27,868 | +33.2% |
| Taxes | 450/3 | €66,649 | €67,644 | +€995 | +1.5% |
| Remuneration and social security | 454/9 | €17,374 | €44,247 | +€26,873 | +155% |
| Other amounts payable | 47/48 | €147,700 | €11,720 | -€135,980 | -92.1% |
| Accrued charges and deferred income | 492/3 | €1,589 | €7,451 | +€5,862 | +369% |
| Remuneration, social security and pensions | 62 | €143,633 | €200,759 | +€57,127 | +39.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,411 | €41,932 | +€11,521 | +37.9% |
| Other operating charges | 640/8 | €2,044 | €6,275 | +€4,231 | +207% |
| Gross operating margin | 9900 | €302,634 | €420,316 | +€117,682 | +38.9% |
| Operating profit (loss) | 9901 | €126,546 | €171,350 | +€44,804 | +35.4% |
| Financial income | 75/76B | €21,413 | €27,387 | +€5,974 | +27.9% |
| Recurring financial income | 75 | €21,413 | €27,387 | +€5,974 | +27.9% |
| Financial charges | 65/66B | €1,805 | €1,777 | -€27 | -1.5% |
| Recurring financial charges | 65 | €1,805 | €1,777 | -€27 | -1.5% |
| Profit (loss) for the period before taxes | 9903 | €146,154 | €196,959 | +€50,805 | +34.8% |
| Income taxes | 67/77 | €47,112 | €64,643 | +€17,531 | +37.2% |
| Profit (loss) for the period | 9904 | €99,042 | €132,316 | +€33,273 | +33.6% |
| Profit (loss) for the period to be appropriated | 9905 | €99,042 | €132,316 | +€33,273 | +33.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.