MPD: 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.
MPD
Largest movements
- Receivables within one year +€14,531
up €14,531 (+16.1%), from €89,987 to €104,517
of which Trade receivables: +€17,996
- Cash -€12,808
down €12,808 (-20.7%), from €61,808 to €49,000
mainly Contributions, distributions and other (-€25,000) and Other debts (-€20,284)
- Reserves +€39,309
up €39,309 (+28.5%), from €138,126 to €177,435
of which Distributable reserves: +€39,309
- Other debts -€20,284
down €20,284 (-40.6%), from €50,000 to €29,716
- Debts after one year -€11,201
down €11,201 (-11.0%), from €101,883 to €90,682
- Tax, wage and social debts -€7,138
down €7,138 (-35.3%), from €20,206 to €13,069
- Gross operating margin +€14,552
up €14,552 (+19.8%), from €73,590 to €88,143
- Taxes +€3,312
up €3,312 (+21.6%), from €15,349 to €18,661
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 | €341,110 | €341,168 | +€59 | 0.0% |
| Fixed assets | 21/28 | €188,801 | €187,609 | -€1,193 | -0.6% |
| Tangible fixed assets | 22/27 | €188,781 | €187,589 | -€1,193 | -0.6% |
| Land and buildings | 22 | €181,300 | €181,300 | = | 0.0% |
| Plant, machinery and equipment | 23 | €1,877 | €1,445 | -€432 | -23.0% |
| Furniture and vehicles | 24 | €378 | €189 | -€189 | -49.9% |
| Other tangible fixed assets | 26 | €5,226 | €4,654 | -€572 | -10.9% |
| Financial fixed assets | 28 | €20 | €20 | = | 0.0% |
| Current assets | 29/58 | €152,308 | €153,560 | +€1,251 | +0.8% |
| Amounts receivable within one year | 40/41 | €89,987 | €104,517 | +€14,531 | +16.1% |
| Trade receivables | 40 | €86,521 | €104,517 | +€17,996 | +20.8% |
| Other amounts receivable | 41 | €3,466 | €0 | -€3,466 | -100.0% |
| Cash at bank and in hand | 54/58 | €61,808 | €49,000 | -€12,808 | -20.7% |
| Deferred charges and accrued income | 490/1 | €514 | €43 | -€472 | -91.7% |
| Total equity and liabilities | 10/49 | €341,110 | €341,168 | +€59 | 0.0% |
| Equity | 10/15 | €156,726 | €196,035 | +€39,309 | +25.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €138,126 | €177,435 | +€39,309 | +28.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €136,266 | €175,575 | +€39,309 | +28.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €184,384 | €145,133 | -€39,251 | -21.3% |
| Amounts payable after more than one year | 17 | €101,883 | €90,682 | -€11,201 | -11.0% |
| Financial debts | 170/4 | €101,883 | €90,682 | -€11,201 | -11.0% |
| Amounts payable within one year | 42/48 | €82,501 | €54,451 | -€28,050 | -34.0% |
| Current portion of amounts payable after more than one year | 42 | €11,003 | €11,201 | +€198 | +1.8% |
| Trade debts | 44 | €1,292 | €466 | -€826 | -63.9% |
| Suppliers | 440/4 | €1,292 | €466 | -€826 | -63.9% |
| Taxes, remuneration and social security | 45 | €20,206 | €13,069 | -€7,138 | -35.3% |
| Taxes | 450/3 | €20,206 | €13,069 | -€7,138 | -35.3% |
| Other amounts payable | 47/48 | €50,000 | €29,716 | -€20,284 | -40.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,516 | €1,193 | -€323 | -21.3% |
| Other operating charges | 640/8 | €1,527 | €1,836 | +€308 | +20.2% |
| Gross operating margin | 9900 | €73,590 | €88,143 | +€14,552 | +19.8% |
| Operating profit (loss) | 9901 | €70,547 | €85,114 | +€14,567 | +20.6% |
| Financial income | 75/76B | €686 | €14 | -€672 | -98.0% |
| Recurring financial income | 75 | €686 | €14 | -€672 | -98.0% |
| Financial charges | 65/66B | €2,280 | €2,157 | -€122 | -5.4% |
| Recurring financial charges | 65 | €2,280 | €2,157 | -€122 | -5.4% |
| Profit (loss) for the period before taxes | 9903 | €68,954 | €82,971 | +€14,017 | +20.3% |
| Income taxes | 67/77 | €15,349 | €18,661 | +€3,312 | +21.6% |
| Profit (loss) for the period | 9904 | €53,605 | €64,309 | +€10,704 | +20.0% |
| Profit (loss) for the period to be appropriated | 9905 | €53,605 | €64,309 | +€10,704 | +20.0% |
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 7 October 2026 via checked.be.