MLD CONCEPT: 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.
MLD CONCEPT
Largest movements
- Receivables within one year -€60,425
down €60,425 (-97.4%), from €62,049 to €1,624
of which Other amounts receivable: -€57,772
- Cash -€54,739
down €54,739 (-32.6%), from €168,027 to €113,288
mainly Contributions, distributions and other (-€218,894) and Debts after one year (-€74,586)
- Tangible fixed assets -€28,960
down €28,960 (-6.3%), from €459,536 to €430,576
of which Land and buildings: -€29,196
- Reserves -€205,865
down €205,865 (-78.2%), from €263,330 to €57,465
of which Distributable reserves: -€205,865
- Other debts +€133,041
up €133,041 (+856.8%), from €15,528 to €148,569
- Debts after one year -€74,586
down €74,586 (-25.7%), from €290,374 to €215,788
- Tax, wage and social debts +€16,564
up €16,564 (+855.3%), from €1,937 to €18,500
- Gross operating margin -€5,521
down €5,521 (-6.6%), from €83,978 to €78,457
- Financial income -€4,144
down €4,144 (-64.9%), from €6,382 to €2,238
- Depreciation -€3,264
down €3,264 (-8.0%), from €40,790 to €37,525
- Other operating charges +€2,448
up €2,448 (+38.4%), from €6,384 to €8,833
- Financial charges -€1,781
down €1,781 (-10.7%), from €16,715 to €14,935
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 | €692,312 | €548,187 | -€144,125 | -20.8% |
| Fixed assets | 21/28 | €462,236 | €433,276 | -€28,960 | -6.3% |
| Tangible fixed assets | 22/27 | €459,536 | €430,576 | -€28,960 | -6.3% |
| Land and buildings | 22 | €447,175 | €417,979 | -€29,196 | -6.5% |
| Plant, machinery and equipment | 23 | - | €7,621 | +€7,621 | |
| Furniture and vehicles | 24 | €12,360 | €4,975 | -€7,385 | -59.7% |
| Financial fixed assets | 28 | €2,700 | €2,700 | = | 0.0% |
| Current assets | 29/58 | €230,076 | €114,912 | -€115,165 | -50.1% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €62,049 | €1,624 | -€60,425 | -97.4% |
| Trade receivables | 40 | €4,277 | €1,624 | -€2,653 | -62.0% |
| Other amounts receivable | 41 | €57,772 | €0 | -€57,772 | -100.0% |
| Cash at bank and in hand | 54/58 | €168,027 | €113,288 | -€54,739 | -32.6% |
| Total equity and liabilities | 10/49 | €692,312 | €548,187 | -€144,125 | -20.8% |
| Equity | 10/15 | €292,800 | €84,697 | -€208,103 | -71.1% |
| Contributions | 10/11 | €8,722 | €8,722 | = | 0.0% |
| Reserves | 13 | €263,330 | €57,465 | -€205,865 | -78.2% |
| Non-distributable reserves | 130/1 | €872 | €872 | = | 0.0% |
| Reserves not available under the articles | 1311 | €872 | €872 | = | 0.0% |
| Distributable reserves | 133 | €262,458 | €56,593 | -€205,865 | -78.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Investment grants | 15 | €20,748 | €18,510 | -€2,238 | -10.8% |
| Amounts payable | 17/49 | €399,511 | €463,490 | +€63,979 | +16.0% |
| Amounts payable after more than one year | 17 | €290,374 | €215,788 | -€74,586 | -25.7% |
| Financial debts | 170/4 | €290,374 | €215,788 | -€74,586 | -25.7% |
| Amounts payable within one year | 42/48 | €109,137 | €247,702 | +€138,565 | +127.0% |
| Current portion of amounts payable after more than one year | 42 | €81,644 | €75,975 | -€5,669 | -6.9% |
| Trade debts | 44 | €10,029 | €4,658 | -€5,370 | -53.5% |
| Suppliers | 440/4 | €10,029 | €4,658 | -€5,370 | -53.5% |
| Taxes, remuneration and social security | 45 | €1,937 | €18,500 | +€16,564 | +855.3% |
| Taxes | 450/3 | €1,937 | €18,500 | +€16,564 | +855.3% |
| Other amounts payable | 47/48 | €15,528 | €148,569 | +€133,041 | +856.8% |
| Remuneration, social security and pensions | 62 | €138 | €0 | -€138 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,790 | €37,525 | -€3,264 | -8.0% |
| Other operating charges | 640/8 | €6,384 | €8,833 | +€2,448 | +38.4% |
| Gross operating margin | 9900 | €83,978 | €78,457 | -€5,521 | -6.6% |
| Operating profit (loss) | 9901 | €36,665 | €32,099 | -€4,567 | -12.5% |
| Financial income | 75/76B | €6,382 | €2,238 | -€4,144 | -64.9% |
| Recurring financial income | 75 | €6,382 | €2,238 | -€4,144 | -64.9% |
| Financial charges | 65/66B | €16,715 | €14,935 | -€1,781 | -10.7% |
| Recurring financial charges | 65 | €16,715 | €14,935 | -€1,781 | -10.7% |
| Profit (loss) for the period before taxes | 9903 | €26,332 | €19,402 | -€6,930 | -26.3% |
| Income taxes | 67/77 | €7,406 | €8,612 | +€1,206 | +16.3% |
| Profit (loss) for the period | 9904 | €18,926 | €10,791 | -€8,136 | -43.0% |
| Profit (loss) for the period to be appropriated | 9905 | €18,926 | €10,791 | -€8,136 | -43.0% |
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 3 October 2026 via checked.be.