MDZ Consulting: 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.
MDZ Consulting
Largest movements
- Tangible fixed assets +€28,702
up €28,702 (+32.3%), from €88,740 to €117,442
of which Other tangible fixed assets: +€39,205
- Cash +€27,726
up €27,726 (+32.7%), from €84,844 to €112,570
mainly Trade debts (+€48,075) and Depreciation (+€38,327)
- Intangible fixed assets -€11,714
down €11,714 (-25.0%), from €46,825 to €35,111
- Receivables within one year +€8,102
up €8,102 (+24.9%), from €32,523 to €40,624
of which Other amounts receivable: +€18,575
- Deferred charges and accrued income -€6,097
down €6,097 (-100%), from €6,097 to €0
- Trade debts +€48,075
up €48,075 (+426%), from €11,299 to €59,374
- Advances received -€22,217
down €22,217 (-100%), from €22,217 to €0
- Reserves +€11,759
up €11,759 (+17.2%), from €68,442 to €80,200
- Debts after one year +€11,378
up €11,378 (+24.7%), from €46,000 to €57,378
- Short-term financial debts +€6,723
new in 2025: €6,723
- Gross operating margin -€71,527
down €71,527 (-28.5%), from €251,411 to €179,883
- Staff costs -€31,213
down €31,213 (-21.8%), from €143,235 to €112,022
- Taxes -€12,666
down €12,666 (-66.8%), from €18,964 to €6,298
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 | €266,683 | €315,747 | +€49,064 | +18.4% |
| Fixed assets | 21/28 | €135,565 | €152,553 | +€16,988 | +12.5% |
| Intangible fixed assets | 21 | €46,825 | €35,111 | -€11,714 | -25.0% |
| Tangible fixed assets | 22/27 | €88,740 | €117,442 | +€28,702 | +32.3% |
| Plant, machinery and equipment | 23 | €39,827 | €26,418 | -€13,410 | -33.7% |
| Furniture and vehicles | 24 | €6,474 | €9,381 | +€2,907 | +44.9% |
| Other tangible fixed assets | 26 | €42,438 | €81,643 | +€39,205 | +92.4% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €131,119 | €163,194 | +€32,076 | +24.5% |
| Stocks and contracts in progress | 3 | €7,655 | €10,000 | +€2,345 | +30.6% |
| Stocks | 30/36 | €7,655 | €10,000 | +€2,345 | +30.6% |
| Amounts receivable within one year | 40/41 | €32,523 | €40,624 | +€8,102 | +24.9% |
| Trade receivables | 40 | €26,288 | €15,814 | -€10,474 | -39.8% |
| Other amounts receivable | 41 | €6,235 | €24,810 | +€18,575 | +298% |
| Cash at bank and in hand | 54/58 | €84,844 | €112,570 | +€27,726 | +32.7% |
| Deferred charges and accrued income | 490/1 | €6,097 | €0 | -€6,097 | -100% |
| Total equity and liabilities | 10/49 | €266,683 | €315,747 | +€49,064 | +18.4% |
| Equity | 10/15 | €128,442 | €140,200 | +€11,759 | +9.2% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Reserves | 13 | €68,442 | €80,200 | +€11,759 | +17.2% |
| Distributable reserves | 133 | €68,442 | €80,200 | +€11,759 | +17.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €138,242 | €175,546 | +€37,305 | +27.0% |
| Amounts payable after more than one year | 17 | €46,000 | €57,378 | +€11,378 | +24.7% |
| Financial debts | 170/4 | €46,000 | €57,378 | +€11,378 | +24.7% |
| Amounts payable within one year | 42/48 | €91,842 | €117,569 | +€25,727 | +28.0% |
| Current portion of amounts payable after more than one year | 42 | €8,040 | €8,252 | +€212 | +2.6% |
| Financial debts | 43 | - | €6,723 | +€6,723 | |
| Credit institutions | 430/8 | - | €6,723 | +€6,723 | |
| Trade debts | 44 | €11,299 | €59,374 | +€48,075 | +426% |
| Suppliers | 440/4 | €11,299 | €59,374 | +€48,075 | +426% |
| Advances received on contracts in progress | 46 | €22,217 | €0 | -€22,217 | -100% |
| Taxes, remuneration and social security | 45 | €38,671 | €34,302 | -€4,369 | -11.3% |
| Taxes | 450/3 | €26,688 | €20,625 | -€6,064 | -22.7% |
| Remuneration and social security | 454/9 | €11,982 | €13,677 | +€1,695 | +14.1% |
| Other amounts payable | 47/48 | €11,616 | €8,919 | -€2,697 | -23.2% |
| Accrued charges and deferred income | 492/3 | €400 | €600 | +€200 | +50.0% |
| Remuneration, social security and pensions | 62 | €143,235 | €112,022 | -€31,213 | -21.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,234 | €38,327 | -€907 | -2.3% |
| Other operating charges | 640/8 | €5,759 | €6,736 | +€977 | +17.0% |
| Gross operating margin | 9900 | €251,411 | €179,883 | -€71,527 | -28.5% |
| Operating profit (loss) | 9901 | €63,182 | €22,797 | -€40,385 | -63.9% |
| Financial income | 75/76B | €491 | €586 | +€95 | +19.3% |
| Recurring financial income | 75 | €491 | €586 | +€95 | +19.3% |
| Financial charges | 65/66B | €2,081 | €3,660 | +€1,579 | +75.9% |
| Recurring financial charges | 65 | €2,081 | €3,660 | +€1,579 | +75.9% |
| Profit (loss) for the period before taxes | 9903 | €61,593 | €19,723 | -€41,870 | -68.0% |
| Income taxes | 67/77 | €18,964 | €6,298 | -€12,666 | -66.8% |
| Profit (loss) for the period | 9904 | €42,629 | €13,425 | -€29,204 | -68.5% |
| Profit (loss) for the period to be appropriated | 9905 | €42,629 | €13,425 | -€29,204 | -68.5% |
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 24 October 2026 via checked.be.