MDS VENTURES: 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.
MDS VENTURES
Largest movements
- Receivables within one year -€31,564
down €31,564 (-25.9%), from €121,782 to €90,218
- Cash +€30,070
up €30,070 (+241.1%), from €12,471 to €42,541
mainly Receivables within one year (+€31,564) and Depreciation (+€28,248)
- Tangible fixed assets -€20,977
down €20,977 (-31.9%), from €65,709 to €44,732
of which Furniture and vehicles: -€12,250
- Intangible fixed assets -€5,714
down €5,714 (-16.9%), from €33,810 to €28,095
- Other debts -€44,758
down €44,758 (-30.3%), from €147,683 to €102,924
- Trade debts +€13,071
up €13,071 (+112.9%), from €11,579 to €24,650
- Tax, wage and social debts +€4,921
up €4,921 (+22.3%), from €22,042 to €26,963
of which Taxes: +€2,921
- Profit (loss) carried forward -€3,359
down €3,359 (-8.7%), from €38,657 to €35,298
- Gross operating margin -€55,017
down €55,017 (-66.6%), from €82,608 to €27,591
- Taxes -€9,796
down €9,796 (-95.9%), from €10,215 to €420
- Staff costs -€2,877
down €2,877 (-92.4%), from €3,112 to €235
- Depreciation -€1,465
down €1,465 (-4.9%), from €29,713 to €28,248
- Other operating charges +€1,367
up €1,367 (+163.4%), from €836 to €2,203
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 | €245,300 | €215,175 | -€30,125 | -12.3% |
| Fixed assets | 21/28 | €99,519 | €72,827 | -€26,692 | -26.8% |
| Intangible fixed assets | 21 | €33,810 | €28,095 | -€5,714 | -16.9% |
| Tangible fixed assets | 22/27 | €65,709 | €44,732 | -€20,977 | -31.9% |
| Plant, machinery and equipment | 23 | €29,898 | €21,171 | -€8,727 | -29.2% |
| Furniture and vehicles | 24 | €35,811 | €23,561 | -€12,250 | -34.2% |
| Current assets | 29/58 | €145,781 | €142,348 | -€3,434 | -2.4% |
| Stocks and contracts in progress | 3 | €9,588 | €9,588 | = | 0.0% |
| Stocks | 30/36 | €9,588 | €9,588 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €121,782 | €90,218 | -€31,564 | -25.9% |
| Trade receivables | 40 | €121,782 | €90,218 | -€31,564 | -25.9% |
| Cash at bank and in hand | 54/58 | €12,471 | €42,541 | +€30,070 | +241.1% |
| Deferred charges and accrued income | 490/1 | €1,940 | - | -€1,940 | |
| Total equity and liabilities | 10/49 | €245,300 | €215,175 | -€30,125 | -12.3% |
| Equity | 10/15 | €63,657 | €60,298 | -€3,359 | -5.3% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €38,657 | €35,298 | -€3,359 | -8.7% |
| Amounts payable | 17/49 | €181,643 | €154,876 | -€26,767 | -14.7% |
| Amounts payable within one year | 42/48 | €181,643 | €154,876 | -€26,767 | -14.7% |
| Trade debts | 44 | €11,579 | €24,650 | +€13,071 | +112.9% |
| Suppliers | 440/4 | €11,579 | €24,650 | +€13,071 | +112.9% |
| Advances received on contracts in progress | 46 | €339 | €339 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €22,042 | €26,963 | +€4,921 | +22.3% |
| Taxes | 450/3 | €22,042 | €24,963 | +€2,921 | +13.3% |
| Remuneration and social security | 454/9 | - | €2,000 | +€2,000 | |
| Other amounts payable | 47/48 | €147,683 | €102,924 | -€44,758 | -30.3% |
| Remuneration, social security and pensions | 62 | €3,112 | €235 | -€2,877 | -92.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,713 | €28,248 | -€1,465 | -4.9% |
| Other operating charges | 640/8 | €836 | €2,203 | +€1,367 | +163.4% |
| Gross operating margin | 9900 | €82,608 | €27,591 | -€55,017 | -66.6% |
| Operating profit (loss) | 9901 | €48,948 | -€3,095 | -€52,043 | |
| Financial income | 75/76B | €17 | €372 | +€355 | +2060.8% |
| Recurring financial income | 75 | €17 | €372 | +€355 | +2060.8% |
| Financial charges | 65/66B | €93 | €217 | +€124 | +133.3% |
| Recurring financial charges | 65 | €93 | €217 | +€124 | +133.3% |
| Profit (loss) for the period before taxes | 9903 | €48,872 | -€2,939 | -€51,811 | |
| Income taxes | 67/77 | €10,215 | €420 | -€9,796 | -95.9% |
| Profit (loss) for the period | 9904 | €38,657 | -€3,359 | -€42,016 | |
| Profit (loss) for the period to be appropriated | 9905 | €38,657 | -€3,359 | -€42,016 |
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 8 October 2026 via checked.be.