MDR ADVISORY: 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.
MDR ADVISORY
Largest movements
- Receivables within one year +€6,245
up €6,245 (+4.4%), from €142,639 to €148,883
of which Trade receivables: +€21,019
- Tangible fixed assets +€2,067
up €2,067 (+25.2%), from €8,205 to €10,271
of which Plant, machinery and equipment: +€3,644
- Other debts +€22,785
up €22,785 (+22.9%), from €99,698 to €122,483
- Profit (loss) carried forward -€13,149
down €13,149 (-390%), from -€3,371 to -€16,520
- Gross operating margin -€18,194
down €18,194 (-44.0%), from €41,340 to €23,146
- Financial charges -€6,280
down €6,280 (-15.9%), from €39,533 to €33,254
- Taxes -€2,648
down €2,648 (-88.0%), from €3,010 to €361
- Depreciation +€485
up €485 (+27.0%), from €1,795 to €2,280
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 | €163,045 | €172,708 | +€9,663 | +5.9% |
| Formation expenses | 20 | €8 | €0 | -€8 | -100% |
| Fixed assets | 21/28 | €9,005 | €11,071 | +€2,067 | +22.9% |
| Tangible fixed assets | 22/27 | €8,205 | €10,271 | +€2,067 | +25.2% |
| Plant, machinery and equipment | 23 | €3,713 | €7,357 | +€3,644 | +98.2% |
| Furniture and vehicles | 24 | €902 | €719 | -€183 | -20.3% |
| Other tangible fixed assets | 26 | - | €2,195 | +€2,195 | |
| Assets under construction and advance payments | 27 | €3,590 | €0 | -€3,590 | -100% |
| Financial fixed assets | 28 | €800 | €800 | = | 0.0% |
| Current assets | 29/58 | €154,033 | €161,637 | +€7,604 | +4.9% |
| Amounts receivable within one year | 40/41 | €142,639 | €148,883 | +€6,245 | +4.4% |
| Trade receivables | 40 | €120,225 | €141,245 | +€21,019 | +17.5% |
| Other amounts receivable | 41 | €22,413 | €7,639 | -€14,775 | -65.9% |
| Current investments | 50/53 | €1,000 | €1,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €10,124 | €11,462 | +€1,338 | +13.2% |
| Deferred charges and accrued income | 490/1 | €270 | €292 | +€22 | +8.0% |
| Total equity and liabilities | 10/49 | €163,045 | €172,708 | +€9,663 | +5.9% |
| Equity | 10/15 | €53,369 | €40,221 | -€13,149 | -24.6% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €46,740 | €46,740 | = | 0.0% |
| Distributable reserves | 133 | €46,740 | €46,740 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,371 | -€16,520 | -€13,149 | -390% |
| Amounts payable | 17/49 | €109,676 | €132,487 | +€22,812 | +20.8% |
| Amounts payable within one year | 42/48 | €109,676 | €132,487 | +€22,812 | +20.8% |
| Trade debts | 44 | €1,613 | €2,291 | +€677 | +42.0% |
| Suppliers | 440/4 | €1,613 | €2,291 | +€677 | +42.0% |
| Taxes, remuneration and social security | 45 | €8,364 | €7,714 | -€650 | -7.8% |
| Taxes | 450/3 | €8,364 | €7,714 | -€650 | -7.8% |
| Other amounts payable | 47/48 | €99,698 | €122,483 | +€22,785 | +22.9% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,795 | €2,280 | +€485 | +27.0% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €41,340 | €23,146 | -€18,194 | -44.0% |
| Operating profit (loss) | 9901 | €39,157 | €20,466 | -€18,691 | -47.7% |
| Financial income | 75/76B | €15 | €0 | -€15 | -99.9% |
| Recurring financial income | 75 | €15 | €0 | -€15 | -99.9% |
| Financial charges | 65/66B | €39,533 | €33,254 | -€6,280 | -15.9% |
| Recurring financial charges | 65 | €39,533 | €33,254 | -€6,280 | -15.9% |
| Profit (loss) for the period before taxes | 9903 | -€361 | -€12,787 | -€12,426 | -3,440% |
| Income taxes | 67/77 | €3,010 | €361 | -€2,648 | -88.0% |
| Profit (loss) for the period | 9904 | -€3,371 | -€13,149 | -€9,778 | -290% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,371 | -€13,149 | -€9,778 | -290% |
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 16 October 2026 via checked.be.