MDZS: 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.
MDZS
Largest movements
- Cash +€21,135
up €21,135 (+83.0%), from €25,472 to €46,607
mainly Depreciation (+€97,568) and Current portion of long-term debt (+€15,063)
- Deferred charges and accrued income -€10,696
down €10,696 (-52.8%), from €20,248 to €9,552
- Debts after one year -€39,203
down €39,203 (-29.5%), from €132,770 to €93,566
- Current portion of long-term debt +€15,063
up €15,063 (+29.9%), from €50,306 to €65,369
- Tax, wage and social debts +€13,460
up €13,460 (+25.8%), from €52,239 to €65,699
of which Remuneration and social security: +€22,687
- Trade debts +€8,976
up €8,976 (+10.1%), from €88,688 to €97,664
- Reserves +€6,667
up €6,667 (+17.5%), from €38,122 to €44,789
- Gross operating margin +€210,327
up €210,327 (+64.1%), from €328,149 to €538,476
- Staff costs +€182,416
up €182,416 (+77.5%), from €235,514 to €417,930
- Depreciation +€30,770
up €30,770 (+46.1%), from €66,798 to €97,568
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 | €586,888 | €596,966 | +€10,078 | +1.7% |
| Fixed assets | 21/28 | €304,648 | €309,436 | +€4,789 | +1.6% |
| Tangible fixed assets | 22/27 | €300,095 | €304,884 | +€4,789 | +1.6% |
| Plant, machinery and equipment | 23 | €12,278 | €10,639 | -€1,639 | -13.4% |
| Furniture and vehicles | 24 | €280,579 | €287,901 | +€7,322 | +2.6% |
| Leasing and similar rights | 25 | €7,238 | €6,344 | -€894 | -12.4% |
| Financial fixed assets | 28 | €4,553 | €4,553 | = | 0.0% |
| Current assets | 29/58 | €282,240 | €287,530 | +€5,290 | +1.9% |
| Amounts receivable within one year | 40/41 | €236,520 | €231,371 | -€5,149 | -2.2% |
| Trade receivables | 40 | €236,408 | €228,402 | -€8,007 | -3.4% |
| Other amounts receivable | 41 | €112 | €2,970 | +€2,858 | +2559.3% |
| Cash at bank and in hand | 54/58 | €25,472 | €46,607 | +€21,135 | +83.0% |
| Deferred charges and accrued income | 490/1 | €20,248 | €9,552 | -€10,696 | -52.8% |
| Total equity and liabilities | 10/49 | €586,888 | €596,966 | +€10,078 | +1.7% |
| Equity | 10/15 | €43,122 | €49,789 | +€6,667 | +15.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €38,122 | €44,789 | +€6,667 | +17.5% |
| Distributable reserves | 133 | €38,122 | €44,789 | +€6,667 | +17.5% |
| Amounts payable | 17/49 | €543,765 | €547,177 | +€3,412 | +0.6% |
| Amounts payable after more than one year | 17 | €132,770 | €93,566 | -€39,203 | -29.5% |
| Financial debts | 170/4 | €132,770 | €93,566 | -€39,203 | -29.5% |
| Amounts payable within one year | 42/48 | €410,996 | €453,052 | +€42,056 | +10.2% |
| Current portion of amounts payable after more than one year | 42 | €50,306 | €65,369 | +€15,063 | +29.9% |
| Trade debts | 44 | €88,688 | €97,664 | +€8,976 | +10.1% |
| Suppliers | 440/4 | €88,688 | €97,664 | +€8,976 | +10.1% |
| Taxes, remuneration and social security | 45 | €52,239 | €65,699 | +€13,460 | +25.8% |
| Taxes | 450/3 | €35,261 | €26,034 | -€9,227 | -26.2% |
| Remuneration and social security | 454/9 | €16,978 | €39,665 | +€22,687 | +133.6% |
| Other amounts payable | 47/48 | €219,763 | €224,320 | +€4,557 | +2.1% |
| Accrued charges and deferred income | 492/3 | - | €559 | +€559 | |
| Remuneration, social security and pensions | 62 | €235,514 | €417,930 | +€182,416 | +77.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,798 | €97,568 | +€30,770 | +46.1% |
| Other operating charges | 640/8 | €5,897 | €7,082 | +€1,184 | +20.1% |
| Gross operating margin | 9900 | €328,149 | €538,476 | +€210,327 | +64.1% |
| Operating profit (loss) | 9901 | €19,939 | €15,896 | -€4,043 | -20.3% |
| Financial income | 75/76B | - | €82 | +€82 | |
| Recurring financial income | 75 | - | €82 | +€82 | |
| Financial charges | 65/66B | €7,297 | €7,103 | -€194 | -2.7% |
| Recurring financial charges | 65 | €7,297 | €7,103 | -€194 | -2.7% |
| Profit (loss) for the period before taxes | 9903 | €12,643 | €8,875 | -€3,767 | -29.8% |
| Income taxes | 67/77 | €2,807 | €2,209 | -€598 | -21.3% |
| Profit (loss) for the period | 9904 | €9,836 | €6,667 | -€3,169 | -32.2% |
| Profit (loss) for the period to be appropriated | 9905 | €9,836 | €6,667 | -€3,169 | -32.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.