MDP: 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.
MDP
Largest movements
- Tangible fixed assets -€82,800
down €82,800 (-4.8%), from €1.7m to €1.6m
- Current investments +€25,000
up €25,000 (+33.3%), from €75,000 to €100,000
- Debts after one year -€136,819
down €136,819 (-9.7%), from €1.4m to €1.3m
of which Financial debts: -€140,000
- Reserves +€85,347
up €85,347 (+23.7%), from €360,081 to €445,427
of which Distributable reserves: +€85,347
- Financial charges -€24,321
down €24,321 (-36.5%), from €66,624 to €42,303
- Gross operating margin +€11,579
up €11,579 (+4.4%), from €260,823 to €272,402
- Taxes +€11,203
up €11,203 (+39.1%), from €28,626 to €39,828
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 | €1,833,665 | €1,783,167 | -€50,498 | -2.8% |
| Fixed assets | 21/28 | €1,726,763 | €1,643,963 | -€82,800 | -4.8% |
| Tangible fixed assets | 22/27 | €1,726,763 | €1,643,963 | -€82,800 | -4.8% |
| Land and buildings | 22 | €1,726,763 | €1,643,963 | -€82,800 | -4.8% |
| Current assets | 29/58 | €106,901 | €139,204 | +€32,302 | +30.2% |
| Amounts receivable within one year | 40/41 | €3,562 | €0 | -€3,562 | -100.0% |
| Other amounts receivable | 41 | €3,562 | €0 | -€3,562 | -100.0% |
| Current investments | 50/53 | €75,000 | €100,000 | +€25,000 | +33.3% |
| Cash at bank and in hand | 54/58 | €27,445 | €38,425 | +€10,981 | +40.0% |
| Deferred charges and accrued income | 490/1 | €895 | €779 | -€117 | -13.0% |
| Total equity and liabilities | 10/49 | €1,833,665 | €1,783,167 | -€50,498 | -2.8% |
| Equity | 10/15 | €414,647 | €499,993 | +€85,347 | +20.6% |
| Contributions | 10/11 | €54,566 | €54,566 | = | 0.0% |
| Reserves | 13 | €360,081 | €445,427 | +€85,347 | +23.7% |
| Tax-exempt reserves | 132 | €5,889 | €5,889 | = | 0.0% |
| Distributable reserves | 133 | €354,192 | €439,538 | +€85,347 | +24.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,419,018 | €1,283,174 | -€135,844 | -9.6% |
| Amounts payable after more than one year | 17 | €1,409,521 | €1,272,702 | -€136,819 | -9.7% |
| Financial debts | 170/4 | €1,330,000 | €1,190,000 | -€140,000 | -10.5% |
| Other amounts payable | 178/9 | €79,521 | €82,702 | +€3,181 | +4.0% |
| Amounts payable within one year | 42/48 | €6,316 | €7,164 | +€848 | +13.4% |
| Trade debts | 44 | €13 | €13 | = | 0.0% |
| Suppliers | 440/4 | €13 | €13 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €4,532 | €3,828 | -€704 | -15.5% |
| Taxes | 450/3 | €4,532 | €3,828 | -€704 | -15.5% |
| Other amounts payable | 47/48 | €1,771 | €3,322 | +€1,551 | +87.6% |
| Accrued charges and deferred income | 492/3 | €3,181 | €3,308 | +€127 | +4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €82,800 | €82,800 | = | 0.0% |
| Other operating charges | 640/8 | €21,467 | €22,140 | +€672 | +3.1% |
| Gross operating margin | 9900 | €260,823 | €272,402 | +€11,579 | +4.4% |
| Operating profit (loss) | 9901 | €156,556 | €167,463 | +€10,906 | +7.0% |
| Financial income | 75/76B | €34 | €15 | -€19 | -55.4% |
| Recurring financial income | 75 | €34 | €15 | -€19 | -55.4% |
| Financial charges | 65/66B | €66,624 | €42,303 | -€24,321 | -36.5% |
| Recurring financial charges | 65 | €66,624 | €42,303 | -€24,321 | -36.5% |
| Profit (loss) for the period before taxes | 9903 | €89,966 | €125,175 | +€35,209 | +39.1% |
| Income taxes | 67/77 | €28,626 | €39,828 | +€11,203 | +39.1% |
| Profit (loss) for the period | 9904 | €61,341 | €85,347 | +€24,006 | +39.1% |
| Profit (loss) for the period to be appropriated | 9905 | €61,341 | €85,347 | +€24,006 | +39.1% |
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 8 October 2026 via checked.be.