MDM: what changed
What changed
MDM
NACE 46.180, Agents specialised in the wholesale of other particular products
filed annual accounts (NBB)
Net result for the year
€461,560
2024 · €2.3m-€1.8m
Equity
€43.0m
2024 · €42.5m+€461,560
Cash
€138,798
2024 · €155,540-€16,742
Balance sheet total
€61.6m
2024 · €62.7m-€1.1m
Largest movements
Assets
- Current investments -€3.9m
down €3.9m (-73.0%), from €5.3m to €1.4m
- Financial fixed assets +€2.8m
up €2.8m (+6.0%), from €47.0m to €49.8m
of which Other financial fixed assets: +€6.0m
Equity and liabilities
- Other debts -€1.2m
down €1.2m (-74.3%), from €1.6m to €408,806
Income statement
- Financial income -€2.9m
down €2.9m (-50.8%), from €5.6m to €2.8m
of which Financial income: -€1.5m
- Financial charges +€130,365
up €130,365 (+6.9%), from €1.9m to €2.0m
of which Non-recurring financial charges: +€721,154
- Services and other goods -€50,661
down €50,661 (-8.3%), from €609,665 to €559,005
- Other operating income +€45,492
up €45,492 (+11.7%), from €387,732 to €433,223
- Staff costs +€11,112
up €11,112 (+4.8%), from €232,775 to €243,887
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€2.3m
Turnover
-€6,516
Other operating income
+€45,492
Goods and materials
-€2,124
Services and other goods
+€50,661
Staff costs
-€11,112
Depreciation
+€4,830
Other operating charges
-€6,227
Other operating items
+€1.1m
Financial income
-€2.9m
Financial charges
-€130,365
Taxes
+€65
Result 2025
€461,560
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€560,288
Investment
+€782,849
Financing
-€239,304
Cash 2024
€155,540
From operations (derived)
-€560,288
Net result for the year
+€461,560
Depreciation
+€209,807
Receivables after one year
+€64,692
Stocks and contracts
-€11,845
Receivables within one year
+€24,890
Smaller working-capital items
-€11,923
Trade debts
-€60,450
Tax, wage and social debts
-€21,463
Other debts
-€1.2m
Accrued charges and deferred income
-€35,306
Investment (derived)
+€782,849
Investment in fixed assets (net)
-€3.1m
Current investments
+€3.9m
Financing
-€239,304
Debts after one year
-€599,304
Current portion of long-term debt
-€90,000
Short-term financial debts
+€450,000
Cash 2025
€138,798
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €62,668,536 | €61,590,679 | -€1.1m | -1.7% |
| Fixed assets | 21/28 | €55,762,513 | €58,643,784 | +€2.9m | +5.2% |
| Tangible fixed assets | 22/27 | €8,792,092 | €8,869,088 | +€76,996 | +0.9% |
| Land and buildings | 22 | €5,157,225 | €5,064,968 | -€92,256 | -1.8% |
| Plant, machinery and equipment | 23 | €3,420,833 | €3,404,098 | -€16,736 | -0.5% |
| Furniture and vehicles | 24 | €86,126 | €256,114 | +€169,988 | +197% |
| Other tangible fixed assets | 26 | €127,908 | €143,908 | +€16,000 | +12.5% |
| Financial fixed assets | 28 | €46,970,421 | €49,774,696 | +€2.8m | +6.0% |
| Affiliated companies | 280/1 | €15,744,461 | €15,522,083 | -€222,379 | -1.4% |
| Participating interests | 280 | €8,490,265 | €9,187,765 | +€697,500 | +8.2% |
| Amounts receivable | 281 | €7,254,196 | €6,334,317 | -€919,879 | -12.7% |
| Companies linked by participating interests | 282/3 | €31,225,959 | €28,211,671 | -€3.0m | -9.7% |
| Participating interests | 282 | €28,303,480 | €24,908,200 | -€3.4m | -12.0% |
| Amounts receivable | 283 | €2,922,479 | €3,303,471 | +€380,992 | +13.0% |
| Other financial fixed assets | 284/8 | - | €6,040,943 | +€6.0m | |
| Shares | 284 | - | €6,040,943 | +€6.0m | |
| Current assets | 29/58 | €6,906,024 | €2,946,895 | -€4.0m | -57.3% |
| Amounts receivable after more than one year | 29 | €1,276,123 | €1,211,431 | -€64,692 | -5.1% |
| Other amounts receivable | 291 | €1,276,123 | €1,211,431 | -€64,692 | -5.1% |
| Stocks and contracts in progress | 3 | €12,349 | €24,194 | +€11,845 | +95.9% |
| Stocks | 30/36 | €12,349 | €24,194 | +€11,845 | +95.9% |
| Goods purchased for resale | 34 | €12,349 | €24,194 | +€11,845 | +95.9% |
| Amounts receivable within one year | 40/41 | €138,702 | €113,811 | -€24,890 | -17.9% |
| Trade receivables | 40 | €113,164 | €82,236 | -€30,928 | -27.3% |
| Other amounts receivable | 41 | €25,538 | €31,576 | +€6,038 | +23.6% |
| Current investments | 50/53 | €5,306,376 | €1,432,449 | -€3.9m | -73.0% |
| Other investments | 51/53 | €5,306,376 | €1,432,449 | -€3.9m | -73.0% |
| Cash at bank and in hand | 54/58 | €155,540 | €138,798 | -€16,742 | -10.8% |
| Deferred charges and accrued income | 490/1 | €16,934 | €26,211 | +€9,278 | +54.8% |
| Total equity and liabilities | 10/49 | €62,668,536 | €61,590,679 | -€1.1m | -1.7% |
| Equity | 10/15 | €42,493,881 | €42,955,441 | +€461,560 | +1.1% |
| Contributions | 10/11 | €5,260,500 | €5,260,500 | = | 0.0% |
| Capital | 10 | €5,260,500 | €5,260,500 | = | 0.0% |
| Issued capital | 100 | €5,260,500 | €5,260,500 | = | 0.0% |
| Reserves | 13 | €10,909,599 | €10,901,664 | -€7,934 | -0.1% |
| Non-distributable reserves | 130/1 | €526,050 | €526,050 | = | 0.0% |
| Legal reserve | 130 | €526,050 | €526,050 | = | 0.0% |
| Tax-exempt reserves | 132 | €762,224 | €754,290 | -€7,934 | -1.0% |
| Distributable reserves | 133 | €9,621,324 | €9,621,324 | = | 0.0% |
| Profit (loss) carried forward | 14 | €26,323,782 | €26,793,277 | +€469,494 | +1.8% |
| Provisions and deferred taxes | 16 | €254,076 | €251,431 | -€2,645 | -1.0% |
| Deferred taxes | 168 | €254,076 | €251,431 | -€2,645 | -1.0% |
| Amounts payable | 17/49 | €19,920,579 | €18,383,807 | -€1.5m | -7.7% |
| Amounts payable after more than one year | 17 | €15,195,456 | €14,596,152 | -€599,304 | -3.9% |
| Financial debts | 170/4 | €90,000 | €0 | -€90,000 | -100% |
| Credit institutions | 173 | €90,000 | €0 | -€90,000 | -100% |
| Other amounts payable | 178/9 | €15,105,456 | €14,596,152 | -€509,304 | -3.4% |
| Amounts payable within one year | 42/48 | €4,608,504 | €3,706,342 | -€902,163 | -19.6% |
| Current portion of amounts payable after more than one year | 42 | €180,000 | €90,000 | -€90,000 | -50.0% |
| Financial debts | 43 | €2,700,000 | €3,150,000 | +€450,000 | +16.7% |
| Credit institutions | 430/8 | €2,700,000 | €3,150,000 | +€450,000 | +16.7% |
| Trade debts | 44 | €77,006 | €16,556 | -€60,450 | -78.5% |
| Suppliers | 440/4 | €77,006 | €16,556 | -€60,450 | -78.5% |
| Taxes, remuneration and social security | 45 | €62,443 | €40,980 | -€21,463 | -34.4% |
| Taxes | 450/3 | €35,377 | €26,050 | -€9,327 | -26.4% |
| Remuneration and social security | 454/9 | €27,066 | €14,930 | -€12,136 | -44.8% |
| Other amounts payable | 47/48 | €1,589,055 | €408,806 | -€1.2m | -74.3% |
| Accrued charges and deferred income | 492/3 | €116,620 | €81,313 | -€35,306 | -30.3% |
| Operating income | 70/76A | €1,009,424 | €1,095,400 | +€85,976 | +8.5% |
| Turnover | 70 | €621,693 | €615,177 | -€6,516 | -1.0% |
| Other operating income | 74 | €387,732 | €433,223 | +€45,492 | +11.7% |
| Non-recurring operating income | 76A | €0 | €47,000 | +€47,000 | |
| Operating charges | 60/66A | €2,451,548 | €1,379,466 | -€1.1m | -43.7% |
| Goods for resale, raw materials and consumables | 60 | €23,625 | €25,749 | +€2,124 | +9.0% |
| Purchases | 600/8 | €21,225 | €37,593 | +€16,368 | +77.1% |
| Change in stocks: decrease (increase) | 609 | €2,400 | -€11,845 | -€14,245 | |
| Services and other goods | 61 | €609,665 | €559,005 | -€50,661 | -8.3% |
| Remuneration, social security and pensions | 62 | €232,775 | €243,887 | +€11,112 | +4.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €214,636 | €209,807 | -€4,830 | -2.3% |
| Other operating charges | 640/8 | €34,793 | €41,020 | +€6,227 | +17.9% |
| Non-recurring operating charges | 66A | €1,336,054 | €300,000 | -€1.0m | -77.5% |
| Operating profit (loss) | 9901 | -€1,442,124 | -€284,066 | +€1.2m | +80.3% |
| Financial income | 75/76B | €5,616,728 | €2,765,948 | -€2.9m | -50.8% |
| Recurring financial income | 75 | €4,215,187 | €2,756,653 | -€1.5m | -34.6% |
| Income from financial fixed assets | 750 | €4,009,383 | €2,602,841 | -€1.4m | -35.1% |
| Income from current assets | 751 | €182,188 | €121,356 | -€60,832 | -33.4% |
| Other financial income | 752/9 | €23,617 | €32,456 | +€8,839 | +37.4% |
| Non-recurring financial income | 76B | €1,401,541 | €9,295 | -€1.4m | -99.3% |
| Financial charges | 65/66B | €1,891,656 | €2,022,021 | +€130,365 | +6.9% |
| Recurring financial charges | 65 | €1,121,895 | €531,107 | -€590,788 | -52.7% |
| Debt charges | 650 | €409,393 | €439,220 | +€29,827 | +7.3% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | €676,102 | €66,059 | -€610,043 | -90.2% |
| Other financial charges | 652/9 | €36,400 | €25,828 | -€10,572 | -29.0% |
| Non-recurring financial charges | 66B | €769,761 | €1,490,914 | +€721,154 | +93.7% |
| Profit (loss) for the period before taxes | 9903 | €2,282,949 | €459,861 | -€1.8m | -79.9% |
| Transfer from deferred taxes | 780 | €2,645 | €2,645 | = | 0.0% |
| Income taxes | 67/77 | €1,011 | €946 | -€65 | -6.5% |
| Taxes | 670/3 | €1,011 | €946 | -€65 | -6.5% |
| Profit (loss) for the period | 9904 | €2,284,583 | €461,560 | -€1.8m | -79.8% |
| Transfer from tax-exempt reserves | 789 | €7,934 | €7,934 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €2,292,517 | €469,494 | -€1.8m | -79.5% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.