MDSystems: 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.
MDSystems
Largest movements
- Tangible fixed assets +€186,769
up €186,769 (+90.4%), from €206,602 to €393,370
of which Land and buildings: +€201,222
- Debts after one year +€155,960
up €155,960 (+99.2%), from €157,150 to €313,110
- Profit (loss) carried forward +€57,952
up €57,952 (+359%), from €16,140 to €74,092
- Other debts -€46,169
down €46,169 (-78.6%), from €58,745 to €12,576
- Tax, wage and social debts +€14,513
new in 2025: €14,513
- Current portion of long-term debt +€5,442
up €5,442 (+37.0%), from €14,692 to €20,134
- Gross operating margin +€51,583
up €51,583 (+99.9%), from €51,654 to €103,237
- Taxes +€7,213
up €7,213 (+328%), from €2,198 to €9,411
- Financial charges +€4,582
up €4,582 (+63.8%), from €7,187 to €11,769
- Depreciation -€1,951
down €1,951 (-7.8%), from €25,003 to €23,052
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 | €257,163 | €444,276 | +€187,113 | +72.8% |
| Fixed assets | 21/28 | €206,602 | €393,370 | +€186,769 | +90.4% |
| Tangible fixed assets | 22/27 | €206,602 | €393,370 | +€186,769 | +90.4% |
| Land and buildings | 22 | €147,570 | €348,792 | +€201,222 | +136% |
| Plant, machinery and equipment | 23 | €7,495 | €5,809 | -€1,686 | -22.5% |
| Furniture and vehicles | 24 | €14,426 | €10,548 | -€3,878 | -26.9% |
| Leasing and similar rights | 25 | €37,110 | €28,221 | -€8,889 | -24.0% |
| Current assets | 29/58 | €50,561 | €50,905 | +€344 | +0.7% |
| Stocks and contracts in progress | 3 | €3,699 | - | -€3,699 | |
| Stocks | 30/36 | €3,699 | - | -€3,699 | |
| Amounts receivable within one year | 40/41 | €11,439 | €11,314 | -€126 | -1.1% |
| Trade receivables | 40 | €8,668 | €11,314 | +€2,645 | +30.5% |
| Other amounts receivable | 41 | €2,771 | - | -€2,771 | |
| Cash at bank and in hand | 54/58 | €33,986 | €38,048 | +€4,061 | +12.0% |
| Deferred charges and accrued income | 490/1 | €1,437 | €1,544 | +€107 | +7.5% |
| Total equity and liabilities | 10/49 | €257,163 | €444,276 | +€187,113 | +72.8% |
| Equity | 10/15 | €23,640 | €81,592 | +€57,952 | +245% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,140 | €74,092 | +€57,952 | +359% |
| Amounts payable | 17/49 | €233,523 | €362,684 | +€129,161 | +55.3% |
| Amounts payable after more than one year | 17 | €157,150 | €313,110 | +€155,960 | +99.2% |
| Financial debts | 170/4 | €157,150 | €313,110 | +€155,960 | +99.2% |
| Amounts payable within one year | 42/48 | €76,373 | €49,574 | -€26,799 | -35.1% |
| Current portion of amounts payable after more than one year | 42 | €14,692 | €20,134 | +€5,442 | +37.0% |
| Trade debts | 44 | €2,936 | €2,351 | -€586 | -19.9% |
| Suppliers | 440/4 | €2,936 | €2,351 | -€586 | -19.9% |
| Taxes, remuneration and social security | 45 | - | €14,513 | +€14,513 | |
| Taxes | 450/3 | - | €14,513 | +€14,513 | |
| Other amounts payable | 47/48 | €58,745 | €12,576 | -€46,169 | -78.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,003 | €23,052 | -€1,951 | -7.8% |
| Other operating charges | 640/8 | €1,133 | €1,066 | -€67 | -5.9% |
| Gross operating margin | 9900 | €51,654 | €103,237 | +€51,583 | +99.9% |
| Operating profit (loss) | 9901 | €25,518 | €79,119 | +€53,601 | +210% |
| Financial income | 75/76B | €7 | €13 | +€6 | +86.3% |
| Recurring financial income | 75 | €7 | €13 | +€6 | +86.3% |
| Financial charges | 65/66B | €7,187 | €11,769 | +€4,582 | +63.8% |
| Recurring financial charges | 65 | €7,187 | €11,769 | +€4,582 | +63.8% |
| Profit (loss) for the period before taxes | 9903 | €18,338 | €67,363 | +€49,025 | +267% |
| Income taxes | 67/77 | €2,198 | €9,411 | +€7,213 | +328% |
| Profit (loss) for the period | 9904 | €16,140 | €57,952 | +€41,812 | +259% |
| Profit (loss) for the period to be appropriated | 9905 | €16,140 | €57,952 | +€41,812 | +259% |
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 13 October 2026 via checked.be.