MLD21: 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.
MLD21
Largest movements
- Receivables within one year +€25,907
up €25,907 (+147.6%), from €17,550 to €43,457
of which Trade receivables: +€25,905
- Profit (loss) carried forward +€69,594
up €69,594 (+199.3%), from €34,918 to €104,512
- Debts after one year -€69,400
down €69,400 (-19.8%), from €351,333 to €281,932
of which Financial debts: -€69,400
- Tax, wage and social debts +€32,279
up €32,279 (+133.7%), from €24,144 to €56,423
of which Taxes: +€31,861
- Short-term financial debts -€24,916
down €24,916 (-24.9%), from €100,000 to €75,084
- Current portion of long-term debt +€10,783
up €10,783 (+15.9%), from €67,676 to €78,459
- Gross operating margin +€55,000
up €55,000 (+95.4%), from €57,673 to €112,673
- Financial charges +€11,633
up €11,633 (+114.8%), from €10,136 to €21,769
- Taxes +€9,132
up €9,132 (+102.7%), from €8,889 to €18,021
- Depreciation -€1,188
down €1,188 (-36.3%), from €3,275 to €2,087
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 | €586,751 | €608,386 | +€21,636 | +3.7% |
| Fixed assets | 21/28 | €565,597 | €564,930 | -€668 | -0.1% |
| Tangible fixed assets | 22/27 | €5,597 | €4,930 | -€668 | -11.9% |
| Furniture and vehicles | 24 | €5,597 | €4,930 | -€668 | -11.9% |
| Financial fixed assets | 28 | €560,000 | €560,000 | = | 0.0% |
| Current assets | 29/58 | €21,153 | €43,457 | +€22,303 | +105.4% |
| Amounts receivable within one year | 40/41 | €17,550 | €43,457 | +€25,907 | +147.6% |
| Trade receivables | 40 | €17,545 | €43,450 | +€25,905 | +147.6% |
| Other amounts receivable | 41 | €5 | €6 | +€2 | +35.0% |
| Cash at bank and in hand | 54/58 | €3,604 | €0 | -€3,604 | -100.0% |
| Total equity and liabilities | 10/49 | €586,751 | €608,386 | +€21,636 | +3.7% |
| Equity | 10/15 | €39,918 | €109,512 | +€69,594 | +174.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €34,918 | €104,512 | +€69,594 | +199.3% |
| Amounts payable | 17/49 | €546,833 | €498,874 | -€47,959 | -8.8% |
| Amounts payable after more than one year | 17 | €351,333 | €281,932 | -€69,400 | -19.8% |
| Financial debts | 170/4 | €309,833 | €240,432 | -€69,400 | -22.4% |
| Other amounts payable | 178/9 | €41,500 | €41,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €194,856 | €215,162 | +€20,306 | +10.4% |
| Current portion of amounts payable after more than one year | 42 | €67,676 | €78,459 | +€10,783 | +15.9% |
| Financial debts | 43 | €100,000 | €75,084 | -€24,916 | -24.9% |
| Credit institutions | 430/8 | €100,000 | €75,084 | -€24,916 | -24.9% |
| Trade debts | 44 | €997 | €2,923 | +€1,925 | +193.1% |
| Suppliers | 440/4 | €997 | €2,923 | +€1,925 | +193.1% |
| Taxes, remuneration and social security | 45 | €24,144 | €56,423 | +€32,279 | +133.7% |
| Taxes | 450/3 | €21,962 | €53,824 | +€31,861 | +145.1% |
| Remuneration and social security | 454/9 | €2,182 | €2,599 | +€418 | +19.1% |
| Other amounts payable | 47/48 | €2,039 | €2,272 | +€234 | +11.5% |
| Accrued charges and deferred income | 492/3 | €645 | €1,780 | +€1,136 | +176.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,275 | €2,087 | -€1,188 | -36.3% |
| Other operating charges | 640/8 | €455 | €1,202 | +€746 | +163.9% |
| Gross operating margin | 9900 | €57,673 | €112,673 | +€55,000 | +95.4% |
| Operating profit (loss) | 9901 | €53,943 | €109,385 | +€55,442 | +102.8% |
| Financial charges | 65/66B | €10,136 | €21,769 | +€11,633 | +114.8% |
| Recurring financial charges | 65 | €10,136 | €21,769 | +€11,633 | +114.8% |
| Profit (loss) for the period before taxes | 9903 | €43,806 | €87,615 | +€43,809 | +100.0% |
| Income taxes | 67/77 | €8,889 | €18,021 | +€9,132 | +102.7% |
| Profit (loss) for the period | 9904 | €34,918 | €69,594 | +€34,677 | +99.3% |
| Profit (loss) for the period to be appropriated | 9905 | €34,918 | €69,594 | +€34,677 | +99.3% |
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 5 October 2026 via checked.be.