MRD FINANCE: 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.
MRD FINANCE
Largest movements
- Tangible fixed assets +€34,452
up €34,452 (+187%), from €18,425 to €52,877
of which Other tangible fixed assets: +€26,915
- Receivables within one year -€23,435
down €23,435 (-43.2%), from €54,209 to €30,775
of which Other amounts receivable: -€30,500
- Deferred charges and accrued income +€2,556
up €2,556 (+57.3%), from €4,462 to €7,018
- Current portion of long-term debt +€13,054
new in 2025: €13,054
- Other debts +€5,234
new in 2025: €5,234
- Reserves -€4,867
down €4,867 (-7.3%), from €67,002 to €62,135
- Tax, wage and social debts +€2,456
up €2,456 (+33.2%), from €7,391 to €9,848
of which Remuneration and social security: +€1,353
- Trade debts -€1,404
down €1,404 (-29.5%), from €4,753 to €3,350
- Gross operating margin +€20,663
up €20,663 (+37.6%), from €54,951 to €75,614
- Staff costs +€10,148
up €10,148 (+230%), from €4,409 to €14,558
- Depreciation +€7,666
up €7,666 (+190%), from €4,025 to €11,691
- Other operating charges +€3,062
up €3,062 (+674%), from €454 to €3,517
- Financial income +€1,600
up €1,600 (+76,208%), from €2 to €1,602
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.
Derived cash bridge
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 | €80,237 | €94,621 | +€14,383 | +17.9% |
| Fixed assets | 21/28 | €18,425 | €52,877 | +€34,452 | +187% |
| Tangible fixed assets | 22/27 | €18,425 | €52,877 | +€34,452 | +187% |
| Furniture and vehicles | 24 | €18,425 | €25,962 | +€7,537 | +40.9% |
| Other tangible fixed assets | 26 | - | €26,915 | +€26,915 | |
| Current assets | 29/58 | €61,812 | €41,743 | -€20,069 | -32.5% |
| Amounts receivable within one year | 40/41 | €54,209 | €30,775 | -€23,435 | -43.2% |
| Trade receivables | 40 | €23,709 | €30,775 | +€7,065 | +29.8% |
| Other amounts receivable | 41 | €30,500 | - | -€30,500 | |
| Cash at bank and in hand | 54/58 | €3,141 | €3,950 | +€810 | +25.8% |
| Deferred charges and accrued income | 490/1 | €4,462 | €7,018 | +€2,556 | +57.3% |
| Total equity and liabilities | 10/49 | €80,237 | €94,621 | +€14,383 | +17.9% |
| Equity | 10/15 | €68,002 | €63,135 | -€4,867 | -7.2% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €67,002 | €62,135 | -€4,867 | -7.3% |
| Distributable reserves | 133 | €67,002 | €62,135 | -€4,867 | -7.3% |
| Amounts payable | 17/49 | €12,235 | €31,485 | +€19,251 | +157% |
| Amounts payable within one year | 42/48 | €12,145 | €31,485 | +€19,341 | +159% |
| Current portion of amounts payable after more than one year | 42 | - | €13,054 | +€13,054 | |
| Trade debts | 44 | €4,753 | €3,350 | -€1,404 | -29.5% |
| Suppliers | 440/4 | €4,753 | €3,350 | -€1,404 | -29.5% |
| Taxes, remuneration and social security | 45 | €7,391 | €9,848 | +€2,456 | +33.2% |
| Taxes | 450/3 | €6,938 | €8,041 | +€1,103 | +15.9% |
| Remuneration and social security | 454/9 | €454 | €1,807 | +€1,353 | +298% |
| Other amounts payable | 47/48 | - | €5,234 | +€5,234 | |
| Accrued charges and deferred income | 492/3 | €90 | - | -€90 | |
| Remuneration, social security and pensions | 62 | €4,409 | €14,558 | +€10,148 | +230% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,025 | €11,691 | +€7,666 | +190% |
| Other operating charges | 640/8 | €454 | €3,517 | +€3,062 | +674% |
| Gross operating margin | 9900 | €54,951 | €75,614 | +€20,663 | +37.6% |
| Operating profit (loss) | 9901 | €46,062 | €45,848 | -€214 | -0.5% |
| Financial income | 75/76B | €2 | €1,602 | +€1,600 | +76,208% |
| Recurring financial income | 75 | €2 | €1,602 | +€1,600 | +76,208% |
| Financial charges | 65/66B | €341 | €788 | +€448 | +132% |
| Recurring financial charges | 65 | €341 | €788 | +€448 | +132% |
| Profit (loss) for the period before taxes | 9903 | €45,724 | €46,662 | +€939 | +2.1% |
| Income taxes | 67/77 | €10,363 | €11,529 | +€1,166 | +11.3% |
| Profit (loss) for the period | 9904 | €35,360 | €35,133 | -€227 | -0.6% |
| Profit (loss) for the period to be appropriated | 9905 | €35,360 | €35,133 | -€227 | -0.6% |
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 20 October 2026 via checked.be.