MDZ - PROJECTS: what changed
Two fiscal 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.
What changed
MDZ - PROJECTS
NACE 47.791, Retail sale of antiques
fiscal year 2023 against 2024filed annual accounts (NBB)
Net result for the year
€282,377
2023 · €216,282+€66,095
Equity
€2.3m
2023 · €2.1m+€282,377
Cash
€6,678
2023 · €35,590-€28,912
Balance sheet total
€3.0m
2023 · €2.8m+€181,657
Largest movements
Assets
- Stocks and contracts +€123,792
up €123,792 (+4.6%), from €2.7m to €2.8m
- Receivables within one year +€90,239
up €90,239 (+418.7%), from €21,553 to €111,792
of which Trade receivables: +€50,656
Equity and liabilities
- Reserves +€282,377
up €282,377 (+14.3%), from €2.0m to €2.3m
of which Distributable reserves: +€282,377
- Tax, wage and social debts -€167,395
down €167,395 (-55.0%), from €304,213 to €136,817
- Trade debts +€76,313
up €76,313 (+56.0%), from €136,333 to €212,646
Income statement
- Gross operating margin +€138,435
up €138,435 (+40.8%), from €338,964 to €477,399
- Taxes +€54,777
up €54,777 (+64.5%), from €84,982 to €139,759
- Other operating charges +€11,506
up €11,506 (+462.6%), from €2,487 to €13,993
- Depreciation -€8,232
down €8,232 (-44.4%), from €18,554 to €10,322
From the 2023 result to the 2024 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.
Result 2023
€216,282
Gross operating margin
+€138,435
Depreciation
+€8,232
Other operating charges
-€11,506
Other operating items
-€7,500
Financial income
-€3,770
Financial charges
-€3,018
Taxes
-€54,777
Result 2024
€282,377
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
-€20,476
Investment
-€16,699
Financing
+€8,263
Cash 2023
€35,590
From operations (derived)
-€20,476
Net result for the year
+€282,377
Depreciation
+€10,322
Stocks and contracts
-€123,792
Receivables within one year
-€90,239
Deferred charges and accrued income
+€9,838
Trade debts
+€76,313
Tax, wage and social debts
-€167,395
Other debts
-€17,901
Investment (derived)
-€16,699
Investment in fixed assets (net)
-€16,699
Financing
+€8,263
Debts after one year
-€1,394
Current portion of long-term debt
-€14,923
Short-term financial debts
+€24,581
Cash 2024
€6,678
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,798,036 | €2,979,693 | +€181,657 | +6.5% |
| Fixed assets | 21/28 | €27,319 | €33,696 | +€6,377 | +23.3% |
| Intangible fixed assets | 21 | €11,269 | €6,769 | -€4,501 | -39.9% |
| Tangible fixed assets | 22/27 | €16,000 | €26,878 | +€10,878 | +68.0% |
| Land and buildings | 22 | €1,438 | €1,380 | -€57 | -4.0% |
| Furniture and vehicles | 24 | €11,350 | €22,610 | +€11,260 | +99.2% |
| Other tangible fixed assets | 26 | €3,212 | €2,887 | -€325 | -10.1% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €2,770,716 | €2,945,997 | +€175,281 | +6.3% |
| Stocks and contracts in progress | 3 | €2,665,548 | €2,789,340 | +€123,792 | +4.6% |
| Stocks | 30/36 | €2,665,548 | €2,789,340 | +€123,792 | +4.6% |
| Amounts receivable within one year | 40/41 | €21,553 | €111,792 | +€90,239 | +418.7% |
| Trade receivables | 40 | €21,553 | €72,210 | +€50,656 | +235.0% |
| Other amounts receivable | 41 | €0 | €39,583 | +€39,583 | |
| Cash at bank and in hand | 54/58 | €35,590 | €6,678 | -€28,912 | -81.2% |
| Deferred charges and accrued income | 490/1 | €48,025 | €38,187 | -€9,838 | -20.5% |
| Total equity and liabilities | 10/49 | €2,798,036 | €2,979,693 | +€181,657 | +6.5% |
| Equity | 10/15 | €2,062,197 | €2,344,574 | +€282,377 | +13.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,974,000 | €2,256,378 | +€282,377 | +14.3% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,974,000 | €2,256,378 | +€282,377 | +14.3% |
| Profit (loss) carried forward | 14 | €75,797 | €75,797 | = | 0.0% |
| Amounts payable | 17/49 | €735,839 | €635,119 | -€100,720 | -13.7% |
| Amounts payable after more than one year | 17 | €1,394 | €0 | -€1,394 | -100.0% |
| Financial debts | 170/4 | €1,394 | €0 | -€1,394 | -100.0% |
| Amounts payable within one year | 42/48 | €734,445 | €635,119 | -€99,326 | -13.5% |
| Current portion of amounts payable after more than one year | 42 | €16,317 | €1,394 | -€14,923 | -91.5% |
| Financial debts | 43 | €140,000 | €164,581 | +€24,581 | +17.6% |
| Credit institutions | 430/8 | €140,000 | €164,581 | +€24,581 | +17.6% |
| Trade debts | 44 | €136,333 | €212,646 | +€76,313 | +56.0% |
| Suppliers | 440/4 | €136,333 | €212,646 | +€76,313 | +56.0% |
| Taxes, remuneration and social security | 45 | €304,213 | €136,817 | -€167,395 | -55.0% |
| Taxes | 450/3 | €304,213 | €136,817 | -€167,395 | -55.0% |
| Other amounts payable | 47/48 | €137,582 | €119,681 | -€17,901 | -13.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,554 | €10,322 | -€8,232 | -44.4% |
| Other operating charges | 640/8 | €2,487 | €13,993 | +€11,506 | +462.6% |
| Non-recurring operating charges | 66A | - | €7,500 | +€7,500 | |
| Gross operating margin | 9900 | €338,964 | €477,399 | +€138,435 | +40.8% |
| Operating profit (loss) | 9901 | €317,923 | €445,584 | +€127,661 | +40.2% |
| Financial income | 75/76B | €4,300 | €529 | -€3,770 | -87.7% |
| Recurring financial income | 75 | €4,300 | €529 | -€3,770 | -87.7% |
| Financial charges | 65/66B | €20,958 | €23,976 | +€3,018 | +14.4% |
| Recurring financial charges | 65 | €20,958 | €23,976 | +€3,018 | +14.4% |
| Profit (loss) for the period before taxes | 9903 | €301,264 | €422,137 | +€120,873 | +40.1% |
| Income taxes | 67/77 | €84,982 | €139,759 | +€54,777 | +64.5% |
| Profit (loss) for the period | 9904 | €216,282 | €282,377 | +€66,095 | +30.6% |
| Profit (loss) for the period to be appropriated | 9905 | €216,282 | €282,377 | +€66,095 | +30.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.