MDSL MED: 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.
MDSL MED
Largest movements
- Cash +€83,397
up €83,397 (+409%), from €20,412 to €103,810
mainly Net result for the year (+€53,744) and Deferred charges and accrued income (+€49,399)
- Tangible fixed assets -€50,571
down €50,571 (-48.8%), from €103,629 to €53,058
- Deferred charges and accrued income -€49,399
down €49,399 (-57.8%), from €85,449 to €36,051
- Receivables within one year +€9,876
up €9,876 (+1,478%), from €668 to €10,544
- Reserves +€52,078
up €52,078 (+44.2%), from €117,751 to €169,829
of which Distributable reserves: +€53,938
- Current portion of long-term debt -€30,512
down €30,512 (-68.6%), from €44,457 to €13,944
- Trade debts -€29,487
down €29,487 (-93.8%), from €31,445 to €1,958
- Other debts +€3,762
up €3,762 (+117%), from €3,204 to €6,967
- Debts after one year -€2,893
down €2,893 (-76.9%), from €3,762 to €869
- Other operating charges +€34,395
up €34,395 (+914%), from €3,762 to €38,157
- Depreciation -€32,631
down €32,631 (-73.3%), from €44,506 to €11,875
- Gross operating margin +€30,029
up €30,029 (+31.0%), from €96,845 to €126,874
- Taxes +€7,280
up €7,280 (+46.2%), from €15,766 to €23,046
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 | €210,409 | €203,712 | -€6,696 | -3.2% |
| Fixed assets | 21/28 | €103,879 | €53,308 | -€50,571 | -48.7% |
| Tangible fixed assets | 22/27 | €103,629 | €53,058 | -€50,571 | -48.8% |
| Land and buildings | 22 | €13,314 | - | -€13,314 | |
| Plant, machinery and equipment | 23 | €511 | - | -€511 | |
| Furniture and vehicles | 24 | €64,933 | €53,058 | -€11,875 | -18.3% |
| Other tangible fixed assets | 26 | €24,870 | - | -€24,870 | |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €106,530 | €150,404 | +€43,875 | +41.2% |
| Amounts receivable within one year | 40/41 | €668 | €10,544 | +€9,876 | +1,478% |
| Trade receivables | 40 | €668 | €10,544 | +€9,876 | +1,478% |
| Cash at bank and in hand | 54/58 | €20,412 | €103,810 | +€83,397 | +409% |
| Deferred charges and accrued income | 490/1 | €85,449 | €36,051 | -€49,399 | -57.8% |
| Total equity and liabilities | 10/49 | €210,409 | €203,712 | -€6,696 | -3.2% |
| Equity | 10/15 | €123,951 | €176,029 | +€52,078 | +42.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €117,751 | €169,829 | +€52,078 | +44.2% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €115,891 | €169,829 | +€53,938 | +46.5% |
| Amounts payable | 17/49 | €86,458 | €27,683 | -€58,775 | -68.0% |
| Amounts payable after more than one year | 17 | €3,762 | €869 | -€2,893 | -76.9% |
| Financial debts | 170/4 | €3,762 | €869 | -€2,893 | -76.9% |
| Amounts payable within one year | 42/48 | €82,625 | €26,803 | -€55,821 | -67.6% |
| Current portion of amounts payable after more than one year | 42 | €44,457 | €13,944 | -€30,512 | -68.6% |
| Trade debts | 44 | €31,445 | €1,958 | -€29,487 | -93.8% |
| Suppliers | 440/4 | €31,445 | €1,958 | -€29,487 | -93.8% |
| Taxes, remuneration and social security | 45 | €3,519 | €3,935 | +€416 | +11.8% |
| Taxes | 450/3 | €3,519 | €3,935 | +€416 | +11.8% |
| Other amounts payable | 47/48 | €3,204 | €6,967 | +€3,762 | +117% |
| Accrued charges and deferred income | 492/3 | €71 | €11 | -€60 | -84.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,506 | €11,875 | -€32,631 | -73.3% |
| Other operating charges | 640/8 | €3,762 | €38,157 | +€34,395 | +914% |
| Gross operating margin | 9900 | €96,845 | €126,874 | +€30,029 | +31.0% |
| Operating profit (loss) | 9901 | €48,577 | €76,841 | +€28,265 | +58.2% |
| Financial income | 75/76B | €1,516 | €1,877 | +€360 | +23.8% |
| Recurring financial income | 75 | €1,516 | €1,877 | +€360 | +23.8% |
| Financial charges | 65/66B | €2,807 | €1,928 | -€879 | -31.3% |
| Recurring financial charges | 65 | €2,807 | €1,928 | -€879 | -31.3% |
| Profit (loss) for the period before taxes | 9903 | €47,286 | €76,790 | +€29,504 | +62.4% |
| Income taxes | 67/77 | €15,766 | €23,046 | +€7,280 | +46.2% |
| Profit (loss) for the period | 9904 | €31,520 | €53,744 | +€22,224 | +70.5% |
| Profit (loss) for the period to be appropriated | 9905 | €31,520 | €53,744 | +€22,224 | +70.5% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.