MDR IMMO: 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 IMMO
Largest movements
- Tangible fixed assets -€40,000
down €40,000 (-3.7%), from €1.1m to €1.1m
- Receivables within one year +€13,555
up €13,555 (+59.8%), from €22,656 to €36,210
of which Trade receivables: +€11,506
- Debts after one year -€49,138
down €49,138 (-6.4%), from €772,528 to €723,390
- Reserves +€31,571
up €31,571 (+33.3%), from €94,786 to €126,357
of which Distributable reserves: +€30,000
- Gross operating margin +€1,624
up €1,624 (+1.5%), from €107,162 to €108,785
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 | €1,288,988 | €1,266,637 | -€22,351 | -1.7% |
| Fixed assets | 21/28 | €1,090,889 | €1,050,889 | -€40,000 | -3.7% |
| Tangible fixed assets | 22/27 | €1,090,889 | €1,050,889 | -€40,000 | -3.7% |
| Land and buildings | 22 | €1,090,889 | €1,050,889 | -€40,000 | -3.7% |
| Current assets | 29/58 | €198,099 | €215,748 | +€17,649 | +8.9% |
| Amounts receivable within one year | 40/41 | €22,656 | €36,210 | +€13,555 | +59.8% |
| Trade receivables | 40 | €21,877 | €33,383 | +€11,506 | +52.6% |
| Other amounts receivable | 41 | €779 | €2,827 | +€2,049 | +263% |
| Cash at bank and in hand | 54/58 | €175,444 | €179,538 | +€4,094 | +2.3% |
| Total equity and liabilities | 10/49 | €1,288,988 | €1,266,637 | -€22,351 | -1.7% |
| Equity | 10/15 | €445,714 | €477,135 | +€31,421 | +7.0% |
| Contributions | 10/11 | €350,000 | €350,000 | = | 0.0% |
| Capital | 10 | €350,000 | €350,000 | = | 0.0% |
| Issued capital | 100 | €350,000 | €350,000 | = | 0.0% |
| Reserves | 13 | €94,786 | €126,357 | +€31,571 | +33.3% |
| Non-distributable reserves | 130/1 | €4,786 | €6,357 | +€1,571 | +32.8% |
| Legal reserve | 130 | €4,786 | €6,357 | +€1,571 | +32.8% |
| Distributable reserves | 133 | €90,000 | €120,000 | +€30,000 | +33.3% |
| Profit (loss) carried forward | 14 | €929 | €778 | -€150 | -16.2% |
| Amounts payable | 17/49 | €843,274 | €789,502 | -€53,772 | -6.4% |
| Amounts payable after more than one year | 17 | €772,528 | €723,390 | -€49,138 | -6.4% |
| Financial debts | 170/4 | €772,528 | €723,390 | -€49,138 | -6.4% |
| Amounts payable within one year | 42/48 | €67,103 | €62,680 | -€4,424 | -6.6% |
| Current portion of amounts payable after more than one year | 42 | €60,228 | €61,289 | +€1,061 | +1.8% |
| Trade debts | 44 | €889 | €917 | +€28 | +3.1% |
| Suppliers | 440/4 | €889 | €917 | +€28 | +3.1% |
| Taxes, remuneration and social security | 45 | €5,986 | €474 | -€5,512 | -92.1% |
| Taxes | 450/3 | €5,986 | €474 | -€5,512 | -92.1% |
| Accrued charges and deferred income | 492/3 | €3,643 | €3,433 | -€210 | -5.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,000 | €40,000 | = | 0.0% |
| Other operating charges | 640/8 | €12,305 | €12,690 | +€385 | +3.1% |
| Gross operating margin | 9900 | €107,162 | €108,785 | +€1,624 | +1.5% |
| Operating profit (loss) | 9901 | €54,857 | €56,095 | +€1,239 | +2.3% |
| Financial charges | 65/66B | €15,037 | €14,201 | -€836 | -5.6% |
| Recurring financial charges | 65 | €15,037 | €14,201 | -€836 | -5.6% |
| Profit (loss) for the period before taxes | 9903 | €39,820 | €41,894 | +€2,074 | +5.2% |
| Income taxes | 67/77 | €9,971 | €10,474 | +€503 | +5.0% |
| Profit (loss) for the period | 9904 | €29,849 | €31,421 | +€1,572 | +5.3% |
| Profit (loss) for the period to be appropriated | 9905 | €29,849 | €31,421 | +€1,572 | +5.3% |
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 13 October 2026 via checked.be.