MDS Immo: what changed
What changed
MDS Immo
NACE 43.320, Joinery installation
filed annual accounts (NBB)
Net result for the year
€109,895
2024 · €89,006+€20,889
Equity
€318,415
2024 · €208,521+€109,895
Cash
€114,503
2024 · €36,510+€77,993
Balance sheet total
€1.2m
2024 · €788,425+€423,037
Largest movements
Assets
- Tangible fixed assets +€318,339
up €318,339 (+67.1%), from €474,272 to €792,611
of which Land and buildings: +€257,950
- Cash +€77,993
up €77,993 (+214%), from €36,510 to €114,503
mainly Debts after one year (+€270,203) and Net result for the year (+€109,895)
- Receivables within one year +€15,533
up €15,533 (+6.9%), from €225,413 to €240,946
of which Trade receivables: +€22,303
Equity and liabilities
- Debts after one year +€270,203
up €270,203 (+68.6%), from €393,624 to €663,828
- Profit (loss) carried forward +€109,895
up €109,895 (+53.3%), from €206,021 to €315,915
- Current portion of long-term debt +€23,636
up €23,636 (+38.1%), from €62,001 to €85,637
- Trade debts +€22,179
up €22,179 (+18.8%), from €118,085 to €140,264
Income statement
- Gross operating margin +€113,586
up €113,586 (+53.2%), from €213,630 to €327,216
- Depreciation +€34,676
up €34,676 (+74.8%), from €46,344 to €81,020
- Staff costs +€22,365
up €22,365 (+50.1%), from €44,648 to €67,013
- Financial charges +€17,803
up €17,803 (+96.1%), from €18,526 to €36,329
- Other operating charges +€11,190
up €11,190 (+777%), from €1,440 to €12,631
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€89,006
Gross operating margin
+€113,586
Staff costs
-€22,365
Depreciation
-€34,676
Other operating charges
-€11,190
Financial income
-€1,500
Financial charges
-€17,803
Taxes
-€5,162
Result 2025
€109,895
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€183,513
Investment
-€399,359
Financing
+€293,839
Cash 2024
€36,510
From operations (derived)
+€183,513
Net result for the year
+€109,895
Depreciation
+€81,020
Stocks and contracts
-€10,000
Receivables within one year
-€15,533
Deferred charges and accrued income
-€1,171
Trade debts
+€22,179
Smaller working-capital items
+€399
Other debts
-€3,275
Investment (derived)
-€399,359
Investment in fixed assets (net)
-€399,359
Financing
+€293,839
Debts after one year
+€270,203
Current portion of long-term debt
+€23,636
Cash 2025
€114,503
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €788,425 | €1,211,462 | +€423,037 | +53.7% |
| Fixed assets | 21/28 | €493,072 | €811,411 | +€318,339 | +64.6% |
| Tangible fixed assets | 22/27 | €474,272 | €792,611 | +€318,339 | +67.1% |
| Land and buildings | 22 | €269,671 | €527,622 | +€257,950 | +95.7% |
| Plant, machinery and equipment | 23 | €27,347 | €34,065 | +€6,718 | +24.6% |
| Furniture and vehicles | 24 | €7,781 | €3,781 | -€4,000 | -51.4% |
| Leasing and similar rights | 25 | €152,241 | €211,873 | +€59,632 | +39.2% |
| Other tangible fixed assets | 26 | €17,232 | €15,271 | -€1,961 | -11.4% |
| Financial fixed assets | 28 | €18,800 | €18,800 | = | 0.0% |
| Current assets | 29/58 | €295,353 | €400,051 | +€104,698 | +35.4% |
| Stocks and contracts in progress | 3 | €30,000 | €40,000 | +€10,000 | +33.3% |
| Stocks | 30/36 | €30,000 | €40,000 | +€10,000 | +33.3% |
| Amounts receivable within one year | 40/41 | €225,413 | €240,946 | +€15,533 | +6.9% |
| Trade receivables | 40 | €171,580 | €193,884 | +€22,303 | +13.0% |
| Other amounts receivable | 41 | €53,832 | €47,063 | -€6,770 | -12.6% |
| Cash at bank and in hand | 54/58 | €36,510 | €114,503 | +€77,993 | +214% |
| Deferred charges and accrued income | 490/1 | €3,430 | €4,601 | +€1,171 | +34.1% |
| Total equity and liabilities | 10/49 | €788,425 | €1,211,462 | +€423,037 | +53.7% |
| Equity | 10/15 | €208,521 | €318,415 | +€109,895 | +52.7% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €206,021 | €315,915 | +€109,895 | +53.3% |
| Amounts payable | 17/49 | €579,904 | €893,046 | +€313,142 | +54.0% |
| Amounts payable after more than one year | 17 | €393,624 | €663,828 | +€270,203 | +68.6% |
| Financial debts | 170/4 | €393,624 | €663,828 | +€270,203 | +68.6% |
| Amounts payable within one year | 42/48 | €186,280 | €229,134 | +€42,854 | +23.0% |
| Current portion of amounts payable after more than one year | 42 | €62,001 | €85,637 | +€23,636 | +38.1% |
| Trade debts | 44 | €118,085 | €140,264 | +€22,179 | +18.8% |
| Suppliers | 440/4 | €118,085 | €140,264 | +€22,179 | +18.8% |
| Taxes, remuneration and social security | 45 | €2,918 | €3,233 | +€314 | +10.8% |
| Taxes | 450/3 | €0 | €252 | +€252 | |
| Remuneration and social security | 454/9 | €2,918 | €2,980 | +€62 | +2.1% |
| Other amounts payable | 47/48 | €3,275 | €0 | -€3,275 | -100% |
| Accrued charges and deferred income | 492/3 | - | €85 | +€85 | |
| Non-recurring operating income | 76A | €921 | €0 | -€921 | -100% |
| Remuneration, social security and pensions | 62 | €44,648 | €67,013 | +€22,365 | +50.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,344 | €81,020 | +€34,676 | +74.8% |
| Other operating charges | 640/8 | €1,440 | €12,631 | +€11,190 | +777% |
| Gross operating margin | 9900 | €213,630 | €327,216 | +€113,586 | +53.2% |
| Operating profit (loss) | 9901 | €121,198 | €166,552 | +€45,354 | +37.4% |
| Financial income | 75/76B | €1,940 | €440 | -€1,500 | -77.3% |
| Recurring financial income | 75 | €1,940 | €440 | -€1,500 | -77.3% |
| Financial charges | 65/66B | €18,526 | €36,329 | +€17,803 | +96.1% |
| Recurring financial charges | 65 | €18,526 | €36,329 | +€17,803 | +96.1% |
| Profit (loss) for the period before taxes | 9903 | €104,613 | €130,664 | +€26,051 | +24.9% |
| Income taxes | 67/77 | €15,607 | €20,769 | +€5,162 | +33.1% |
| Profit (loss) for the period | 9904 | €89,006 | €109,895 | +€20,889 | +23.5% |
| Profit (loss) for the period to be appropriated | 9905 | €89,006 | €109,895 | +€20,889 | +23.5% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.