MDR Management: 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.
MDR Management
Largest movements
- Cash +€451,426
up €451,426 (+235.8%), from €191,469 to €642,895
mainly Net result for the year (+€431,197) and Other debts (+€370,901)
- Current investments -€19,321
no longer reported in 2025 (was €19,321)
- Other debts +€370,901
up €370,901 (+99.7%), from €371,941 to €742,842
- Reserves +€71,073
up €71,073 (+9.8%), from €723,259 to €794,332
of which Distributable reserves: +€85,062
- Financial income +€404,473
up €404,473 (+17837.4%), from €2,268 to €406,741
- Taxes +€8,534
up €8,534 (+55.8%), from €15,290 to €23,824
- Financial charges +€3,730
up €3,730 (+34.2%), from €10,912 to €14,643
- Gross operating margin -€1,753
down €1,753 (-2.7%), from €65,675 to €63,922
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 | €1,431,717 | €1,857,786 | +€426,069 | +29.8% |
| Fixed assets | 21/28 | €1,199,202 | €1,199,202 | = | 0.0% |
| Financial fixed assets | 28 | €1,199,202 | €1,199,202 | = | 0.0% |
| Current assets | 29/58 | €232,515 | €658,584 | +€426,069 | +183.2% |
| Amounts receivable within one year | 40/41 | €21,724 | €15,689 | -€6,036 | -27.8% |
| Trade receivables | 40 | €12,179 | €12,100 | -€79 | -0.6% |
| Other amounts receivable | 41 | €9,545 | €3,589 | -€5,957 | -62.4% |
| Current investments | 50/53 | €19,321 | - | -€19,321 | |
| Cash at bank and in hand | 54/58 | €191,469 | €642,895 | +€451,426 | +235.8% |
| Total equity and liabilities | 10/49 | €1,431,717 | €1,857,786 | +€426,069 | +29.8% |
| Equity | 10/15 | €1,023,259 | €1,094,332 | +€71,073 | +6.9% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Reserves | 13 | €723,259 | €794,332 | +€71,073 | +9.8% |
| Non-distributable reserves | 130/1 | €13,989 | - | -€13,989 | |
| Reserves not available under the articles | 1311 | €13,989 | - | -€13,989 | |
| Distributable reserves | 133 | €709,270 | €794,332 | +€85,062 | +12.0% |
| Amounts payable | 17/49 | €408,458 | €763,454 | +€354,996 | +86.9% |
| Amounts payable within one year | 42/48 | €408,458 | €762,339 | +€353,881 | +86.6% |
| Financial debts | 43 | €6,000 | - | -€6,000 | |
| Credit institutions | 430/8 | €6,000 | - | -€6,000 | |
| Trade debts | 44 | €214 | €516 | +€302 | +140.9% |
| Suppliers | 440/4 | €214 | €516 | +€302 | +140.9% |
| Taxes, remuneration and social security | 45 | €30,303 | €18,981 | -€11,322 | -37.4% |
| Taxes | 450/3 | €15,903 | €18,981 | +€3,078 | +19.4% |
| Remuneration and social security | 454/9 | €14,400 | - | -€14,400 | |
| Other amounts payable | 47/48 | €371,941 | €742,842 | +€370,901 | +99.7% |
| Accrued charges and deferred income | 492/3 | - | €1,115 | +€1,115 | |
| Other operating charges | 640/8 | €968 | €998 | +€31 | +3.2% |
| Gross operating margin | 9900 | €65,675 | €63,922 | -€1,753 | -2.7% |
| Operating profit (loss) | 9901 | €64,707 | €62,923 | -€1,784 | -2.8% |
| Financial income | 75/76B | €2,268 | €406,741 | +€404,473 | +17837.4% |
| Recurring financial income | 75 | €2,268 | €406,741 | +€404,473 | +17837.4% |
| Financial charges | 65/66B | €10,912 | €14,643 | +€3,730 | +34.2% |
| Recurring financial charges | 65 | €10,912 | €14,643 | +€3,730 | +34.2% |
| Profit (loss) for the period before taxes | 9903 | €56,062 | €455,021 | +€398,959 | +711.6% |
| Income taxes | 67/77 | €15,290 | €23,824 | +€8,534 | +55.8% |
| Profit (loss) for the period | 9904 | €40,773 | €431,197 | +€390,425 | +957.6% |
| Profit (loss) for the period to be appropriated | 9905 | €40,773 | €431,197 | +€390,425 | +957.6% |
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.