MDware Group: 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.
MDware Group
Largest movements
- Cash +€11,572
up €11,572 (+198.7%), from €5,823 to €17,396
mainly Trade debts (+€15,823) and Net result for the year (+€11,057)
- Receivables within one year +€6,978
up €6,978 (+3.0%), from €234,117 to €241,096
of which Trade receivables: +€6,465
- Trade debts +€15,823
up €15,823 (+17.4%), from €91,048 to €106,871
- Reserves +€11,057
up €11,057 (+36.2%), from €30,537 to €41,594
of which Distributable reserves: +€10,504
- Tax, wage and social debts -€9,169
down €9,169 (-19.5%), from €47,114 to €37,944
of which Taxes: -€12,016
- Accrued charges and deferred income +€5,109
up €5,109 (+986.3%), from €518 to €5,627
- Other debts -€4,995
down €4,995 (-34.8%), from €14,353 to €9,358
- Staff costs +€68,104
up €68,104 (+162.4%), from €41,945 to €110,049
- Gross operating margin +€54,927
up €54,927 (+71.7%), from €76,606 to €131,533
- Financial charges +€5,258
up €5,258 (+1410.0%), from €373 to €5,631
- Taxes -€3,065
down €3,065 (-45.0%), from €6,819 to €3,753
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 | €245,069 | €262,894 | +€17,825 | +7.3% |
| Fixed assets | 21/28 | €2,158 | €962 | -€1,196 | -55.4% |
| Tangible fixed assets | 22/27 | €2,158 | €962 | -€1,196 | -55.4% |
| Furniture and vehicles | 24 | €2,158 | €962 | -€1,196 | -55.4% |
| Current assets | 29/58 | €242,911 | €261,932 | +€19,021 | +7.8% |
| Amounts receivable within one year | 40/41 | €234,117 | €241,096 | +€6,978 | +3.0% |
| Trade receivables | 40 | €233,664 | €240,128 | +€6,465 | +2.8% |
| Other amounts receivable | 41 | €454 | €967 | +€514 | +113.2% |
| Cash at bank and in hand | 54/58 | €5,823 | €17,396 | +€11,572 | +198.7% |
| Deferred charges and accrued income | 490/1 | €2,971 | €3,441 | +€470 | +15.8% |
| Total equity and liabilities | 10/49 | €245,069 | €262,894 | +€17,825 | +7.3% |
| Equity | 10/15 | €92,037 | €103,094 | +€11,057 | +12.0% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €30,537 | €41,594 | +€11,057 | +36.2% |
| Non-distributable reserves | 130/1 | €1,527 | €2,080 | +€553 | +36.2% |
| Legal reserve | 130 | €1,527 | €2,080 | +€553 | +36.2% |
| Distributable reserves | 133 | €29,010 | €39,514 | +€10,504 | +36.2% |
| Amounts payable | 17/49 | €153,033 | €159,801 | +€6,768 | +4.4% |
| Amounts payable within one year | 42/48 | €152,515 | €154,174 | +€1,659 | +1.1% |
| Trade debts | 44 | €91,048 | €106,871 | +€15,823 | +17.4% |
| Suppliers | 440/4 | €91,048 | €106,871 | +€15,823 | +17.4% |
| Taxes, remuneration and social security | 45 | €47,114 | €37,944 | -€9,169 | -19.5% |
| Taxes | 450/3 | €36,365 | €24,348 | -€12,016 | -33.0% |
| Remuneration and social security | 454/9 | €10,749 | €13,596 | +€2,847 | +26.5% |
| Other amounts payable | 47/48 | €14,353 | €9,358 | -€4,995 | -34.8% |
| Accrued charges and deferred income | 492/3 | €518 | €5,627 | +€5,109 | +986.3% |
| Remuneration, social security and pensions | 62 | €41,945 | €110,049 | +€68,104 | +162.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,196 | €1,196 | = | 0.0% |
| Other operating charges | 640/8 | €599 | €635 | +€35 | +5.9% |
| Gross operating margin | 9900 | €76,606 | €131,533 | +€54,927 | +71.7% |
| Operating profit (loss) | 9901 | €32,865 | €19,653 | -€13,212 | -40.2% |
| Financial income | 75/76B | €26 | €788 | +€762 | +2937.0% |
| Recurring financial income | 75 | €26 | €788 | +€762 | +2937.0% |
| Financial charges | 65/66B | €373 | €5,631 | +€5,258 | +1410.0% |
| Recurring financial charges | 65 | €373 | €5,631 | +€5,258 | +1410.0% |
| Profit (loss) for the period before taxes | 9903 | €32,518 | €14,810 | -€17,708 | -54.5% |
| Income taxes | 67/77 | €6,819 | €3,753 | -€3,065 | -45.0% |
| Profit (loss) for the period | 9904 | €25,700 | €11,057 | -€14,643 | -57.0% |
| Profit (loss) for the period to be appropriated | 9905 | €25,700 | €11,057 | -€14,643 | -57.0% |
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 10 October 2026 via checked.be.