MDSolar: 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.
MDSolar
Largest movements
- Receivables within one year +€56,972
up €56,972 (+19.3%), from €295,543 to €352,516
of which Other amounts receivable: +€28,613
- Cash -€37,255
down €37,255 (-71.0%), from €52,483 to €15,228
mainly Receivables within one year (-€56,972) and Tax, wage and social debts (-€33,888)
- Stocks and contracts +€28,545
up €28,545 (+52.7%), from €54,119 to €82,664
- Profit (loss) carried forward +€47,614
up €47,614, from -€13,197 to €34,417
- Tax, wage and social debts -€33,888
down €33,888 (-51.3%), from €66,051 to €32,163
of which Taxes: -€28,721
- Trade debts +€32,908
up €32,908 (+182%), from €18,083 to €50,991
- Gross operating margin +€226,316
up €226,316, from -€154,333 to €71,983
- Taxes -€19,348
down €19,348 (-53.3%), from €36,295 to €16,947
- Financial charges -€6,553
down €6,553 (-50.8%), from €12,903 to €6,350
- Other operating charges -€5,804
down €5,804 (-82.3%), from €7,056 to €1,252
- Staff costs -€2,830
new in 2025: -€2,830
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 | €405,629 | €452,263 | +€46,633 | +11.5% |
| Fixed assets | 21/28 | €3,484 | €794 | -€2,690 | -77.2% |
| Intangible fixed assets | 21 | - | €0 | = | |
| Tangible fixed assets | 22/27 | €3,027 | €337 | -€2,690 | -88.9% |
| Plant, machinery and equipment | 23 | €664 | €337 | -€327 | -49.2% |
| Furniture and vehicles | 24 | €2,363 | €0 | -€2,363 | -100% |
| Financial fixed assets | 28 | €457 | €457 | = | 0.0% |
| Current assets | 29/58 | €402,145 | €451,468 | +€49,323 | +12.3% |
| Stocks and contracts in progress | 3 | €54,119 | €82,664 | +€28,545 | +52.7% |
| Stocks | 30/36 | €54,119 | €82,664 | +€28,545 | +52.7% |
| Amounts receivable within one year | 40/41 | €295,543 | €352,516 | +€56,972 | +19.3% |
| Trade receivables | 40 | €210,216 | €238,576 | +€28,360 | +13.5% |
| Other amounts receivable | 41 | €85,327 | €113,940 | +€28,613 | +33.5% |
| Cash at bank and in hand | 54/58 | €52,483 | €15,228 | -€37,255 | -71.0% |
| Deferred charges and accrued income | 490/1 | - | €1,060 | +€1,060 | |
| Total equity and liabilities | 10/49 | €405,629 | €452,263 | +€46,633 | +11.5% |
| Equity | 10/15 | €196,495 | €244,109 | +€47,614 | +24.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €191,092 | €191,092 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €189,232 | €189,232 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€13,197 | €34,417 | +€47,614 | |
| Amounts payable | 17/49 | €209,134 | €208,153 | -€981 | -0.5% |
| Amounts payable within one year | 42/48 | €209,134 | €208,153 | -€981 | -0.5% |
| Financial debts | 43 | €125,000 | €125,000 | = | 0.0% |
| Credit institutions | 430/8 | €125,000 | €125,000 | = | 0.0% |
| Trade debts | 44 | €18,083 | €50,991 | +€32,908 | +182% |
| Suppliers | 440/4 | €18,083 | €50,991 | +€32,908 | +182% |
| Taxes, remuneration and social security | 45 | €66,051 | €32,163 | -€33,888 | -51.3% |
| Taxes | 450/3 | €60,884 | €32,163 | -€28,721 | -47.2% |
| Remuneration and social security | 454/9 | €5,167 | - | -€5,167 | |
| Non-recurring operating income | 76A | €7,629 | - | -€7,629 | |
| Remuneration, social security and pensions | 62 | - | -€2,830 | -€2,830 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,094 | €2,690 | -€1,404 | -34.3% |
| Other operating charges | 640/8 | €7,056 | €1,252 | -€5,804 | -82.3% |
| Gross operating margin | 9900 | -€154,333 | €71,983 | +€226,316 | |
| Operating profit (loss) | 9901 | -€165,484 | €70,871 | +€236,355 | |
| Financial income | 75/76B | €3 | €40 | +€36 | +1,040% |
| Recurring financial income | 75 | €3 | €40 | +€36 | +1,040% |
| Financial charges | 65/66B | €12,903 | €6,350 | -€6,553 | -50.8% |
| Recurring financial charges | 65 | €12,903 | €6,350 | -€6,553 | -50.8% |
| Profit (loss) for the period before taxes | 9903 | -€178,383 | €64,561 | +€242,944 | |
| Income taxes | 67/77 | €36,295 | €16,947 | -€19,348 | -53.3% |
| Profit (loss) for the period | 9904 | -€214,678 | €47,614 | +€262,292 | |
| Profit (loss) for the period to be appropriated | 9905 | -€214,678 | €47,614 | +€262,292 |
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 24 October 2026 via checked.be.