MDW design: 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.
MDW design
Largest movements
- Receivables within one year +€21,625
up €21,625 (+70.3%), from €30,772 to €52,398
- Cash -€6,613
down €6,613 (-11.0%), from €59,897 to €53,284
mainly Receivables within one year (-€21,625) and Other debts (-€2,025)
- Tangible fixed assets -€1,738
down €1,738 (-32.1%), from €5,420 to €3,683
of which Plant, machinery and equipment: -€1,136
- Profit (loss) carried forward +€11,322
up €11,322 (+17.7%), from €64,060 to €75,382
- Trade debts +€5,479
up €5,479 (+99.0%), from €5,535 to €11,014
- Other debts -€2,025
down €2,025 (-78.4%), from €2,581 to €557
- Tax, wage and social debts -€1,501
down €1,501 (-6.3%), from €23,813 to €22,312
of which Taxes: -€1,501
- Gross operating margin -€38,560
down €38,560 (-65.0%), from €59,351 to €20,791
- Taxes -€5,769
down €5,769 (-48.4%), from €11,914 to €6,145
- Other operating charges +€971
up €971 (+177.8%), from €546 to €1,517
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 | €96,090 | €109,364 | +€13,274 | +13.8% |
| Fixed assets | 21/28 | €5,420 | €3,683 | -€1,738 | -32.1% |
| Tangible fixed assets | 22/27 | €5,420 | €3,683 | -€1,738 | -32.1% |
| Plant, machinery and equipment | 23 | €4,196 | €3,060 | -€1,136 | -27.1% |
| Furniture and vehicles | 24 | €1,225 | €623 | -€602 | -49.1% |
| Current assets | 29/58 | €90,669 | €105,682 | +€15,012 | +16.6% |
| Amounts receivable within one year | 40/41 | €30,772 | €52,398 | +€21,625 | +70.3% |
| Trade receivables | 40 | €30,772 | €52,398 | +€21,625 | +70.3% |
| Cash at bank and in hand | 54/58 | €59,897 | €53,284 | -€6,613 | -11.0% |
| Total equity and liabilities | 10/49 | €96,090 | €109,364 | +€13,274 | +13.8% |
| Equity | 10/15 | €64,160 | €75,482 | +€11,322 | +17.6% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €64,060 | €75,382 | +€11,322 | +17.7% |
| Amounts payable | 17/49 | €31,930 | €33,883 | +€1,953 | +6.1% |
| Amounts payable within one year | 42/48 | €31,930 | €33,883 | +€1,953 | +6.1% |
| Trade debts | 44 | €5,535 | €11,014 | +€5,479 | +99.0% |
| Suppliers | 440/4 | €5,535 | €11,014 | +€5,479 | +99.0% |
| Taxes, remuneration and social security | 45 | €23,813 | €22,312 | -€1,501 | -6.3% |
| Taxes | 450/3 | €23,813 | €22,312 | -€1,501 | -6.3% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €2,581 | €557 | -€2,025 | -78.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,716 | €1,738 | +€21 | +1.2% |
| Other operating charges | 640/8 | €546 | €1,517 | +€971 | +177.8% |
| Gross operating margin | 9900 | €59,351 | €20,791 | -€38,560 | -65.0% |
| Operating profit (loss) | 9901 | €57,089 | €17,537 | -€39,552 | -69.3% |
| Financial charges | 65/66B | €230 | €70 | -€159 | -69.3% |
| Recurring financial charges | 65 | €230 | €70 | -€159 | -69.3% |
| Profit (loss) for the period before taxes | 9903 | €56,859 | €17,467 | -€39,393 | -69.3% |
| Income taxes | 67/77 | €11,914 | €6,145 | -€5,769 | -48.4% |
| Profit (loss) for the period | 9904 | €44,946 | €11,322 | -€33,624 | -74.8% |
| Profit (loss) for the period to be appropriated | 9905 | €44,946 | €11,322 | -€33,624 | -74.8% |
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 11 October 2026 via checked.be.