MDRS: 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.
MDRS
Largest movements
- Tangible fixed assets -€24,716
down €24,716 (-4.8%), from €517,455 to €492,739
of which Land and buildings: -€16,841
- Receivables within one year -€12,613
down €12,613 (-35.9%), from €35,112 to €22,498
- Cash -€12,082
down €12,082 (-57.6%), from €20,994 to €8,912
mainly Debts after one year (-€40,258) and Other debts (-€7,643)
- Debts after one year -€40,258
down €40,258 (-16.2%), from €249,221 to €208,963
- Profit (loss) carried forward +€20,468
up €20,468 (+75.7%), from -€27,025 to -€6,558
- Reserves -€15,200
down €15,200 (-94.8%), from €16,027 to €827
of which Distributable reserves: -€13,200
- Other debts -€7,643
down €7,643 (-9.1%), from €84,095 to €76,452
- Depreciation +€1,442
up €1,442 (+5.2%), from €27,717 to €29,159
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 | €605,215 | €556,280 | -€48,934 | -8.1% |
| Fixed assets | 21/28 | €517,455 | €492,739 | -€24,716 | -4.8% |
| Tangible fixed assets | 22/27 | €517,455 | €492,739 | -€24,716 | -4.8% |
| Land and buildings | 22 | €489,733 | €472,893 | -€16,841 | -3.4% |
| Plant, machinery and equipment | 23 | €15,188 | €12,202 | -€2,986 | -19.7% |
| Furniture and vehicles | 24 | €12,534 | €7,645 | -€4,889 | -39.0% |
| Current assets | 29/58 | €87,760 | €63,541 | -€24,219 | -27.6% |
| Stocks and contracts in progress | 3 | €31,654 | €30,771 | -€883 | -2.8% |
| Stocks | 30/36 | €31,654 | €30,771 | -€883 | -2.8% |
| Amounts receivable within one year | 40/41 | €35,112 | €22,498 | -€12,613 | -35.9% |
| Trade receivables | 40 | €35,112 | €22,498 | -€12,613 | -35.9% |
| Cash at bank and in hand | 54/58 | €20,994 | €8,912 | -€12,082 | -57.6% |
| Deferred charges and accrued income | 490/1 | €0 | €1,360 | +€1,360 | |
| Total equity and liabilities | 10/49 | €605,215 | €556,280 | -€48,934 | -8.1% |
| Equity | 10/15 | €209,002 | €214,270 | +€5,268 | +2.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Revaluation surpluses | 12 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €16,027 | €827 | -€15,200 | -94.8% |
| Non-distributable reserves | 130/1 | €2,000 | - | -€2,000 | |
| Reserves not available under the articles | 1311 | €2,000 | - | -€2,000 | |
| Tax-exempt reserves | 132 | €827 | €827 | = | 0.0% |
| Distributable reserves | 133 | €13,200 | €0 | -€13,200 | -100.0% |
| Profit (loss) carried forward | 14 | -€27,025 | -€6,558 | +€20,468 | +75.7% |
| Amounts payable | 17/49 | €396,213 | €342,011 | -€54,202 | -13.7% |
| Amounts payable after more than one year | 17 | €249,221 | €208,963 | -€40,258 | -16.2% |
| Financial debts | 170/4 | €249,221 | €208,963 | -€40,258 | -16.2% |
| Amounts payable within one year | 42/48 | €146,659 | €132,524 | -€14,136 | -9.6% |
| Current portion of amounts payable after more than one year | 42 | €39,090 | €40,258 | +€1,167 | +3.0% |
| Trade debts | 44 | €15,335 | €13,585 | -€1,750 | -11.4% |
| Suppliers | 440/4 | €15,335 | €13,585 | -€1,750 | -11.4% |
| Taxes, remuneration and social security | 45 | €8,139 | €2,229 | -€5,910 | -72.6% |
| Taxes | 450/3 | €8,139 | €2,229 | -€5,910 | -72.6% |
| Other amounts payable | 47/48 | €84,095 | €76,452 | -€7,643 | -9.1% |
| Accrued charges and deferred income | 492/3 | €333 | €524 | +€191 | +57.4% |
| Non-recurring operating income | 76A | €623 | €1,989 | +€1,366 | +219.3% |
| Remuneration, social security and pensions | 62 | -€83 | €0 | +€83 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,717 | €29,159 | +€1,442 | +5.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €148 | €0 | -€148 | -100.0% |
| Other operating charges | 640/8 | €3,804 | €4,265 | +€461 | +12.1% |
| Non-recurring operating charges | 66A | €796 | €0 | -€796 | -100.0% |
| Gross operating margin | 9900 | €48,792 | €48,304 | -€488 | -1.0% |
| Operating profit (loss) | 9901 | €16,410 | €14,880 | -€1,530 | -9.3% |
| Financial charges | 65/66B | €9,380 | €9,330 | -€50 | -0.5% |
| Recurring financial charges | 65 | €9,380 | €9,330 | -€50 | -0.5% |
| Profit (loss) for the period before taxes | 9903 | €7,030 | €5,551 | -€1,480 | -21.0% |
| Income taxes | 67/77 | €268 | €283 | +€14 | +5.4% |
| Profit (loss) for the period | 9904 | €6,762 | €5,268 | -€1,494 | -22.1% |
| Profit (loss) for the period to be appropriated | 9905 | €6,762 | €5,268 | -€1,494 | -22.1% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.