MDSTech: 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.
MDSTech
Largest movements
- Receivables within one year -€24,923
down €24,923 (-95.2%), from €26,180 to €1,257
of which Trade receivables: -€25,553
- Stocks and contracts +€17,928
new in 2025: €17,928
- Tangible fixed assets -€11,894
down €11,894 (-4.8%), from €246,973 to €235,079
of which Land and buildings: -€10,638
- Cash +€8,268
up €8,268 (+487.8%), from €1,695 to €9,963
mainly Receivables within one year (+€24,923) and Depreciation (+€22,141)
- Debts after one year -€18,237
down €18,237 (-9.2%), from €197,619 to €179,382
of which Financial debts: -€23,237
- Trade debts +€12,188
up €12,188 (+3062.3%), from €398 to €12,586
- Current portion of long-term debt -€6,172
down €6,172 (-25.3%), from €24,410 to €18,238
- Gross operating margin -€3,114
down €3,114 (-8.7%), from €35,665 to €32,551
- Taxes +€940
new in 2025: €940
- Financial charges -€628
down €628 (-14.4%), from €4,360 to €3,732
- Other operating charges -€602
down €602 (-24.2%), from €2,485 to €1,883
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 | €274,848 | €264,460 | -€10,388 | -3.8% |
| Fixed assets | 21/28 | €246,973 | €235,079 | -€11,894 | -4.8% |
| Tangible fixed assets | 22/27 | €246,973 | €235,079 | -€11,894 | -4.8% |
| Land and buildings | 22 | €217,101 | €206,463 | -€10,638 | -4.9% |
| Plant, machinery and equipment | 23 | €694 | €0 | -€694 | -100.0% |
| Furniture and vehicles | 24 | €29,178 | €28,616 | -€562 | -1.9% |
| Current assets | 29/58 | €27,875 | €29,381 | +€1,506 | +5.4% |
| Stocks and contracts in progress | 3 | - | €17,928 | +€17,928 | |
| Contracts in progress | 37 | - | €17,928 | +€17,928 | |
| Amounts receivable within one year | 40/41 | €26,180 | €1,257 | -€24,923 | -95.2% |
| Trade receivables | 40 | €26,180 | €627 | -€25,553 | -97.6% |
| Other amounts receivable | 41 | - | €630 | +€630 | |
| Cash at bank and in hand | 54/58 | €1,695 | €9,963 | +€8,268 | +487.8% |
| Deferred charges and accrued income | 490/1 | - | €233 | +€233 | |
| Total equity and liabilities | 10/49 | €274,848 | €264,460 | -€10,388 | -3.8% |
| Equity | 10/15 | €31,937 | €34,011 | +€2,074 | +6.5% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €5,156 | €7,230 | +€2,074 | +40.2% |
| Distributable reserves | 133 | €5,156 | €7,230 | +€2,074 | +40.2% |
| Profit (loss) carried forward | 14 | €1,781 | €1,781 | = | 0.0% |
| Amounts payable | 17/49 | €242,911 | €230,449 | -€12,462 | -5.1% |
| Amounts payable after more than one year | 17 | €197,619 | €179,382 | -€18,237 | -9.2% |
| Financial debts | 170/4 | €197,619 | €174,382 | -€23,237 | -11.8% |
| Other amounts payable | 178/9 | - | €5,000 | +€5,000 | |
| Amounts payable within one year | 42/48 | €45,292 | €51,067 | +€5,775 | +12.8% |
| Current portion of amounts payable after more than one year | 42 | €24,410 | €18,238 | -€6,172 | -25.3% |
| Trade debts | 44 | €398 | €12,586 | +€12,188 | +3062.3% |
| Suppliers | 440/4 | €398 | €12,586 | +€12,188 | +3062.3% |
| Taxes, remuneration and social security | 45 | €2,259 | €3,796 | +€1,537 | +68.0% |
| Taxes | 450/3 | €2,259 | €3,796 | +€1,537 | +68.0% |
| Other amounts payable | 47/48 | €18,225 | €16,447 | -€1,778 | -9.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,883 | €22,141 | +€258 | +1.2% |
| Other operating charges | 640/8 | €2,485 | €1,883 | -€602 | -24.2% |
| Gross operating margin | 9900 | €35,665 | €32,551 | -€3,114 | -8.7% |
| Operating profit (loss) | 9901 | €11,297 | €8,527 | -€2,770 | -24.5% |
| Financial charges | 65/66B | €4,360 | €3,732 | -€628 | -14.4% |
| Recurring financial charges | 65 | €4,360 | €3,732 | -€628 | -14.4% |
| Profit (loss) for the period before taxes | 9903 | €6,937 | €4,795 | -€2,142 | -30.9% |
| Income taxes | 67/77 | - | €940 | +€940 | |
| Profit (loss) for the period | 9904 | €6,937 | €3,855 | -€3,082 | -44.4% |
| Profit (loss) for the period to be appropriated | 9905 | €6,937 | €3,855 | -€3,082 | -44.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.