Midas Rhodes: 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.
Midas Rhodes
Largest movements
- Tangible fixed assets +€129,002
up €129,002 (+134%), from €96,503 to €225,505
of which Furniture and vehicles: +€123,667
- Stocks and contracts +€11,507
up €11,507 (+15.0%), from €76,716 to €88,224
- Cash -€9,627
down €9,627 (-14.6%), from €65,924 to €56,297
mainly Investment in fixed assets (net) (-€172,385) and Trade debts (-€41,213)
- Debts after one year +€103,321
up €103,321 (+451%), from €22,931 to €126,252
- Profit (loss) carried forward +€67,747
up €67,747 (+35.2%), from €192,549 to €260,296
- Trade debts -€41,213
down €41,213 (-19.7%), from €208,806 to €167,593
- Tax, wage and social debts -€23,168
down €23,168 (-15.2%), from €152,182 to €129,013
of which Taxes: -€53,883
- Current portion of long-term debt +€16,894
up €16,894 (+148%), from €11,409 to €28,303
- Gross operating margin +€177,243
up €177,243 (+30.3%), from €585,800 to €763,043
- Staff costs +€145,985
up €145,985 (+32.2%), from €454,050 to €600,035
- Other operating charges +€18,454
up €18,454 (+94.9%), from €19,441 to €37,895
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.
Derived cash bridge
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.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €614,271 | €742,002 | +€127,730 | +20.8% |
| Fixed assets | 21/28 | €96,677 | €225,678 | +€129,002 | +133% |
| Tangible fixed assets | 22/27 | €96,503 | €225,505 | +€129,002 | +134% |
| Plant, machinery and equipment | 23 | €24,667 | €14,707 | -€9,960 | -40.4% |
| Furniture and vehicles | 24 | €45,240 | €168,907 | +€123,667 | +273% |
| Other tangible fixed assets | 26 | €26,596 | €41,891 | +€15,295 | +57.5% |
| Financial fixed assets | 28 | €174 | €174 | = | 0.0% |
| Current assets | 29/58 | €517,594 | €516,323 | -€1,271 | -0.2% |
| Stocks and contracts in progress | 3 | €76,716 | €88,224 | +€11,507 | +15.0% |
| Stocks | 30/36 | €76,716 | €88,224 | +€11,507 | +15.0% |
| Amounts receivable within one year | 40/41 | €374,954 | €371,803 | -€3,151 | -0.8% |
| Trade receivables | 40 | €319,847 | €297,227 | -€22,620 | -7.1% |
| Other amounts receivable | 41 | €55,107 | €74,576 | +€19,469 | +35.3% |
| Cash at bank and in hand | 54/58 | €65,924 | €56,297 | -€9,627 | -14.6% |
| Total equity and liabilities | 10/49 | €614,271 | €742,002 | +€127,730 | +20.8% |
| Equity | 10/15 | €218,943 | €286,690 | +€67,747 | +30.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €7,794 | €7,794 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €5,934 | €5,934 | = | 0.0% |
| Profit (loss) carried forward | 14 | €192,549 | €260,296 | +€67,747 | +35.2% |
| Amounts payable | 17/49 | €395,328 | €455,311 | +€59,983 | +15.2% |
| Amounts payable after more than one year | 17 | €22,931 | €126,252 | +€103,321 | +451% |
| Financial debts | 170/4 | €22,931 | €126,252 | +€103,321 | +451% |
| Amounts payable within one year | 42/48 | €372,397 | €329,059 | -€43,338 | -11.6% |
| Current portion of amounts payable after more than one year | 42 | €11,409 | €28,303 | +€16,894 | +148% |
| Trade debts | 44 | €208,806 | €167,593 | -€41,213 | -19.7% |
| Suppliers | 440/4 | €208,806 | €167,593 | -€41,213 | -19.7% |
| Advances received on contracts in progress | 46 | - | €4,150 | +€4,150 | |
| Taxes, remuneration and social security | 45 | €152,182 | €129,013 | -€23,168 | -15.2% |
| Taxes | 450/3 | €84,579 | €30,697 | -€53,883 | -63.7% |
| Remuneration and social security | 454/9 | €67,602 | €98,317 | +€30,714 | +45.4% |
| Remuneration, social security and pensions | 62 | €454,050 | €600,035 | +€145,985 | +32.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,503 | €43,383 | +€6,880 | +18.8% |
| Other operating charges | 640/8 | €19,441 | €37,895 | +€18,454 | +94.9% |
| Non-recurring operating charges | 66A | €863 | €373 | -€490 | -56.7% |
| Gross operating margin | 9900 | €585,800 | €763,043 | +€177,243 | +30.3% |
| Operating profit (loss) | 9901 | €74,943 | €81,357 | +€6,414 | +8.6% |
| Financial income | 75/76B | - | €49 | +€49 | |
| Recurring financial income | 75 | - | €49 | +€49 | |
| Financial charges | 65/66B | €2,570 | €6,738 | +€4,168 | +162% |
| Recurring financial charges | 65 | €2,570 | €6,738 | +€4,168 | +162% |
| Profit (loss) for the period before taxes | 9903 | €72,373 | €74,667 | +€2,294 | +3.2% |
| Income taxes | 67/77 | - | €6,920 | +€6,920 | |
| Profit (loss) for the period | 9904 | €72,373 | €67,747 | -€4,626 | -6.4% |
| Profit (loss) for the period to be appropriated | 9905 | €72,373 | €67,747 | -€4,626 | -6.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.