MKDELH: 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.
MKDELH
Largest movements
- Cash -€356,885
down €356,885 (-53.2%), from €670,835 to €313,950
mainly Net result for the year (-€497,947) and Current portion of long-term debt (-€298,911)
- Receivables within one year +€71,644
up €71,644 (+35.6%), from €201,368 to €273,013
of which Trade receivables: +€96,240
- Stocks and contracts -€44,272
down €44,272 (-5.2%), from €853,976 to €809,703
- Intangible fixed assets -€20,000
down €20,000 (-11.3%), from €177,753 to €157,753
- Profit (loss) carried forward -€497,947
down €497,947 (-138.1%), from -€360,569 to -€858,515
- Current portion of long-term debt -€298,911
down €298,911 (-91.6%), from €326,355 to €27,444
- Short-term financial debts +€217,161
new in 2025: €217,161
- Tax, wage and social debts +€87,531
up €87,531 (+23.1%), from €378,604 to €466,136
of which Remuneration and social security: +€68,070
- Trade debts +€73,066
up €73,066 (+29.4%), from €248,816 to €321,882
- Turnover -€2.0m
down €2.0m (-9.8%), from €20.7m to €18.7m
- Goods and materials -€1.7m
down €1.7m (-10.2%), from €16.9m to €15.2m
of which Purchases: -€2.6m
- Staff costs -€1.3m
down €1.3m (-31.7%), from €4.2m to €2.8m
- Other operating income -€929,901
down €929,901 (-53.3%), from €1.7m to €813,205
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 | €1,969,984 | €1,642,428 | -€327,556 | -16.6% |
| Fixed assets | 21/28 | €243,804 | €236,825 | -€6,979 | -2.9% |
| Intangible fixed assets | 21 | €177,753 | €157,753 | -€20,000 | -11.3% |
| Tangible fixed assets | 22/27 | €66,051 | €79,072 | +€13,021 | +19.7% |
| Plant, machinery and equipment | 23 | €42,836 | €62,568 | +€19,732 | +46.1% |
| Furniture and vehicles | 24 | €23,215 | €16,504 | -€6,711 | -28.9% |
| Current assets | 29/58 | €1,726,179 | €1,405,603 | -€320,576 | -18.6% |
| Stocks and contracts in progress | 3 | €853,976 | €809,703 | -€44,272 | -5.2% |
| Stocks | 30/36 | €853,976 | €809,703 | -€44,272 | -5.2% |
| Goods purchased for resale | 34 | €853,976 | €809,703 | -€44,272 | -5.2% |
| Amounts receivable within one year | 40/41 | €201,368 | €273,013 | +€71,644 | +35.6% |
| Trade receivables | 40 | €160,280 | €256,519 | +€96,240 | +60.0% |
| Other amounts receivable | 41 | €41,089 | €16,493 | -€24,595 | -59.9% |
| Cash at bank and in hand | 54/58 | €670,835 | €313,950 | -€356,885 | -53.2% |
| Deferred charges and accrued income | 490/1 | - | €8,936 | +€8,936 | |
| Total equity and liabilities | 10/49 | €1,969,984 | €1,642,428 | -€327,556 | -16.6% |
| Equity | 10/15 | -€280,569 | -€778,515 | -€497,947 | -177.5% |
| Contributions | 10/11 | €80,000 | €80,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€360,569 | -€858,515 | -€497,947 | -138.1% |
| Amounts payable | 17/49 | €2,250,553 | €2,420,943 | +€170,391 | +7.6% |
| Amounts payable after more than one year | 17 | €1,296,777 | €1,354,907 | +€58,130 | +4.5% |
| Financial debts | 170/4 | €146,285 | €118,842 | -€27,444 | -18.8% |
| Credit institutions | 173 | €146,285 | €118,842 | -€27,444 | -18.8% |
| Trade debts | 175 | €1,150,492 | €1,236,065 | +€85,573 | +7.4% |
| Suppliers | 1750 | €1,150,492 | €1,236,065 | +€85,573 | +7.4% |
| Amounts payable within one year | 42/48 | €953,775 | €1,036,787 | +€83,012 | +8.7% |
| Current portion of amounts payable after more than one year | 42 | €326,355 | €27,444 | -€298,911 | -91.6% |
| Financial debts | 43 | - | €217,161 | +€217,161 | |
| Credit institutions | 430/8 | - | €217,161 | +€217,161 | |
| Trade debts | 44 | €248,816 | €321,882 | +€73,066 | +29.4% |
| Suppliers | 440/4 | €248,816 | €321,882 | +€73,066 | +29.4% |
| Taxes, remuneration and social security | 45 | €378,604 | €466,136 | +€87,531 | +23.1% |
| Taxes | 450/3 | €6,191 | €25,653 | +€19,461 | +314.3% |
| Remuneration and social security | 454/9 | €372,413 | €440,483 | +€68,070 | +18.3% |
| Other amounts payable | 47/48 | - | €4,164 | +€4,164 | |
| Accrued charges and deferred income | 492/3 | - | €29,249 | +€29,249 | |
| Operating income | 70/76A | €22,479,921 | €19,514,234 | -€3.0m | -13.2% |
| Turnover | 70 | €20,736,815 | €18,701,029 | -€2.0m | -9.8% |
| Other operating income | 74 | €1,743,106 | €813,205 | -€929,901 | -53.3% |
| Operating charges | 60/66A | €22,825,470 | €19,991,087 | -€2.8m | -12.4% |
| Goods for resale, raw materials and consumables | 60 | €16,934,281 | €15,215,431 | -€1.7m | -10.2% |
| Purchases | 600/8 | €17,788,256 | €15,171,158 | -€2.6m | -14.7% |
| Change in stocks: decrease (increase) | 609 | -€853,976 | €44,272 | +€898,248 | |
| Services and other goods | 61 | €1,671,541 | €1,844,311 | +€172,770 | +10.3% |
| Remuneration, social security and pensions | 62 | €4,158,667 | €2,840,621 | -€1.3m | -31.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,118 | €40,712 | +€9,595 | +30.8% |
| Other operating charges | 640/8 | €29,864 | €50,012 | +€20,148 | +67.5% |
| Operating profit (loss) | 9901 | -€345,549 | -€476,853 | -€131,304 | -38.0% |
| Financial income | 75/76B | €99 | €104 | +€5 | +5.0% |
| Recurring financial income | 75 | €99 | €104 | +€5 | +5.0% |
| Other financial income | 752/9 | €99 | €104 | +€5 | +5.0% |
| Financial charges | 65/66B | €15,119 | €20,197 | +€5,078 | +33.6% |
| Recurring financial charges | 65 | €15,119 | €20,197 | +€5,078 | +33.6% |
| Debt charges | 650 | €13,994 | €17,895 | +€3,902 | +27.9% |
| Other financial charges | 652/9 | €1,125 | €2,302 | +€1,176 | +104.5% |
| Profit (loss) for the period before taxes | 9903 | -€360,569 | -€496,946 | -€136,377 | -37.8% |
| Income taxes | 67/77 | - | €1,001 | +€1,001 | |
| Taxes | 670/3 | - | €1,001 | +€1,001 | |
| Profit (loss) for the period | 9904 | -€360,569 | -€497,947 | -€137,378 | -38.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€360,569 | -€497,947 | -€137,378 | -38.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.