MDVH BE: 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.
MDVH BE
Largest movements
- Cash -€141,356
down €141,356 (-44.0%), from €321,479 to €180,123
mainly Contributions, distributions and other (-€660,000) and Receivables after one year (-€50,829)
- Receivables after one year +€50,829
up €50,829 (+27.1%), from €187,521 to €238,350
- Current investments +€39,526
up €39,526 (+26.4%), from €149,999 to €189,525
- Receivables within one year +€8,622
up €8,622 (+9.7%), from €89,034 to €97,656
of which Trade receivables: +€14,012
- Other debts +€264,387
up €264,387 (+10,438%), from €2,533 to €266,920
- Profit (loss) carried forward -€247,122
down €247,122 (-39.2%), from €630,271 to €383,149
- Trade debts -€40,885
down €40,885 (-86.6%), from €47,195 to €6,310
- Reserves -€23,617
down €23,617 (-28.0%), from €84,200 to €60,583
- Gross operating margin +€183,850
up €183,850 (+61.4%), from €299,312 to €483,163
- Taxes +€54,304
up €54,304 (+77.3%), from €70,223 to €124,528
- Financial income +€36,171
up €36,171 (+813%), from €4,449 to €40,619
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 | €778,409 | €732,276 | -€46,133 | -5.9% |
| Fixed assets | 21/28 | €28,943 | €26,116 | -€2,826 | -9.8% |
| Tangible fixed assets | 22/27 | €28,943 | €26,116 | -€2,826 | -9.8% |
| Furniture and vehicles | 24 | €23,599 | €21,348 | -€2,251 | -9.5% |
| Other tangible fixed assets | 26 | €5,343 | €4,768 | -€575 | -10.8% |
| Current assets | 29/58 | €749,467 | €706,160 | -€43,307 | -5.8% |
| Amounts receivable after more than one year | 29 | €187,521 | €238,350 | +€50,829 | +27.1% |
| Other amounts receivable | 291 | €187,521 | €238,350 | +€50,829 | +27.1% |
| Amounts receivable within one year | 40/41 | €89,034 | €97,656 | +€8,622 | +9.7% |
| Trade receivables | 40 | €83,040 | €97,052 | +€14,012 | +16.9% |
| Other amounts receivable | 41 | €5,994 | €603 | -€5,391 | -89.9% |
| Current investments | 50/53 | €149,999 | €189,525 | +€39,526 | +26.4% |
| Cash at bank and in hand | 54/58 | €321,479 | €180,123 | -€141,356 | -44.0% |
| Deferred charges and accrued income | 490/1 | €1,434 | €506 | -€928 | -64.7% |
| Total equity and liabilities | 10/49 | €778,409 | €732,276 | -€46,133 | -5.9% |
| Equity | 10/15 | €719,471 | €448,732 | -€270,739 | -37.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €84,200 | €60,583 | -€23,617 | -28.0% |
| Tax-exempt reserves | 132 | €84,200 | €60,583 | -€23,617 | -28.0% |
| Profit (loss) carried forward | 14 | €630,271 | €383,149 | -€247,122 | -39.2% |
| Amounts payable | 17/49 | €58,938 | €283,544 | +€224,606 | +381% |
| Amounts payable within one year | 42/48 | €58,423 | €282,977 | +€224,555 | +384% |
| Trade debts | 44 | €47,195 | €6,310 | -€40,885 | -86.6% |
| Suppliers | 440/4 | €47,195 | €6,310 | -€40,885 | -86.6% |
| Taxes, remuneration and social security | 45 | €8,695 | €9,747 | +€1,053 | +12.1% |
| Taxes | 450/3 | €8,695 | €9,747 | +€1,053 | +12.1% |
| Other amounts payable | 47/48 | €2,533 | €266,920 | +€264,387 | +10,438% |
| Accrued charges and deferred income | 492/3 | €516 | €567 | +€51 | +9.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,116 | €8,226 | +€1,110 | +15.6% |
| Other operating charges | 640/8 | €1,107 | €1,141 | +€34 | +3.1% |
| Gross operating margin | 9900 | €299,312 | €483,163 | +€183,850 | +61.4% |
| Operating profit (loss) | 9901 | €291,090 | €473,796 | +€182,706 | +62.8% |
| Financial income | 75/76B | €4,449 | €40,619 | +€36,171 | +813% |
| Recurring financial income | 75 | €4,449 | €40,619 | +€36,171 | +813% |
| Financial charges | 65/66B | €82 | €627 | +€545 | +667% |
| Recurring financial charges | 65 | €82 | €627 | +€545 | +667% |
| Profit (loss) for the period before taxes | 9903 | €295,457 | €513,788 | +€218,332 | +73.9% |
| Income taxes | 67/77 | €70,223 | €124,528 | +€54,304 | +77.3% |
| Profit (loss) for the period | 9904 | €225,234 | €389,261 | +€164,027 | +72.8% |
| Transfer from tax-exempt reserves | 789 | - | €23,617 | +€23,617 | |
| Profit (loss) for the period to be appropriated | 9905 | €225,234 | €412,878 | +€187,644 | +83.3% |
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 15 October 2026 via checked.be.