MKDS: 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.
MKDS
Largest movements
- Cash -€28,406
down €28,406 (-65.6%), from €43,278 to €14,872
mainly Net result for the year (-€20,092) and Debts after one year (-€11,000)
- Tangible fixed assets -€4,342
down €4,342 (-18.3%), from €23,693 to €19,352
of which Furniture and vehicles: -€4,891
- Receivables within one year -€3,284
no longer reported in 2025 (was €3,284)
- Deferred charges and accrued income -€1,914
no longer reported in 2025 (was €1,914)
- Stocks and contracts -€1,515
down €1,515 (-7.2%), from €21,086 to €19,571
- Debts after one year -€11,000
down €11,000 (-25.0%), from €44,000 to €33,000
- Profit (loss) carried forward -€10,092
down €10,092, from €1,751 to -€8,341
- Reserves -€10,000
no longer reported in 2025 (was €10,000)
- Current portion of long-term debt -€5,266
down €5,266 (-32.4%), from €16,266 to €11,000
- Other debts -€4,645
down €4,645 (-42.8%), from €10,856 to €6,211
- Gross operating margin -€36,466
down €36,466, from €29,858 to -€6,609
- Staff costs -€21,748
no longer reported in 2025 (was €21,748)
- Depreciation +€876
up €876 (+9.4%), from €9,355 to €10,230
- Financial charges -€750
down €750 (-23.4%), from €3,199 to €2,450
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 | €95,872 | €55,691 | -€40,181 | -41.9% |
| Fixed assets | 21/28 | €26,310 | €21,249 | -€5,062 | -19.2% |
| Intangible fixed assets | 21 | €1,767 | €1,047 | -€720 | -40.8% |
| Tangible fixed assets | 22/27 | €23,693 | €19,352 | -€4,342 | -18.3% |
| Land and buildings | 22 | €75 | - | -€75 | |
| Plant, machinery and equipment | 23 | €10,390 | €11,014 | +€624 | +6.0% |
| Furniture and vehicles | 24 | €13,229 | €8,338 | -€4,891 | -37.0% |
| Financial fixed assets | 28 | €850 | €850 | = | 0.0% |
| Current assets | 29/58 | €69,561 | €34,442 | -€35,119 | -50.5% |
| Stocks and contracts in progress | 3 | €21,086 | €19,571 | -€1,515 | -7.2% |
| Stocks | 30/36 | €21,086 | €19,571 | -€1,515 | -7.2% |
| Amounts receivable within one year | 40/41 | €3,284 | - | -€3,284 | |
| Trade receivables | 40 | €3,284 | - | -€3,284 | |
| Cash at bank and in hand | 54/58 | €43,278 | €14,872 | -€28,406 | -65.6% |
| Deferred charges and accrued income | 490/1 | €1,914 | - | -€1,914 | |
| Total equity and liabilities | 10/49 | €95,872 | €55,691 | -€40,181 | -41.9% |
| Equity | 10/15 | €14,251 | -€5,841 | -€20,092 | |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €10,000 | - | -€10,000 | |
| Distributable reserves | 133 | €10,000 | - | -€10,000 | |
| Profit (loss) carried forward | 14 | €1,751 | -€8,341 | -€10,092 | |
| Amounts payable | 17/49 | €81,621 | €61,532 | -€20,089 | -24.6% |
| Amounts payable after more than one year | 17 | €44,000 | €33,000 | -€11,000 | -25.0% |
| Financial debts | 170/4 | €44,000 | €33,000 | -€11,000 | -25.0% |
| Amounts payable within one year | 42/48 | €37,621 | €28,532 | -€9,089 | -24.2% |
| Current portion of amounts payable after more than one year | 42 | €16,266 | €11,000 | -€5,266 | -32.4% |
| Trade debts | 44 | €1,981 | €3,777 | +€1,796 | +90.6% |
| Suppliers | 440/4 | €1,981 | €3,777 | +€1,796 | +90.6% |
| Taxes, remuneration and social security | 45 | €8,516 | €7,543 | -€973 | -11.4% |
| Taxes | 450/3 | €5,232 | €6,028 | +€797 | +15.2% |
| Remuneration and social security | 454/9 | €3,285 | €1,515 | -€1,770 | -53.9% |
| Other amounts payable | 47/48 | €10,856 | €6,211 | -€4,645 | -42.8% |
| Remuneration, social security and pensions | 62 | €21,748 | - | -€21,748 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,355 | €10,230 | +€876 | +9.4% |
| Other operating charges | 640/8 | €593 | €866 | +€273 | +46.0% |
| Non-recurring operating charges | 66A | €2,171 | - | -€2,171 | |
| Gross operating margin | 9900 | €29,858 | -€6,609 | -€36,466 | |
| Operating profit (loss) | 9901 | -€4,009 | -€17,705 | -€13,696 | -341.7% |
| Financial income | 75/76B | €0 | €0 | -€0 | -86.4% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -86.4% |
| Financial charges | 65/66B | €3,199 | €2,450 | -€750 | -23.4% |
| Recurring financial charges | 65 | €3,199 | €2,450 | -€750 | -23.4% |
| Profit (loss) for the period before taxes | 9903 | -€7,208 | -€20,155 | -€12,947 | -179.6% |
| Income taxes | 67/77 | €109 | -€63 | -€172 | |
| Profit (loss) for the period | 9904 | -€7,317 | -€20,092 | -€12,775 | -174.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,317 | -€20,092 | -€12,775 | -174.6% |
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 12 October 2026 via checked.be.