M.F.B.: 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.
M.F.B.
Largest movements
- Tangible fixed assets -€17,431
down €17,431 (-8.1%), from €215,895 to €198,464
of which Land and buildings: -€9,500
- Cash +€10,173
up €10,173 (+309%), from €3,296 to €13,469
mainly Depreciation (+€26,843) and Net result for the year (+€10,499)
- Other debts -€16,616
down €16,616 (-22.1%), from €75,035 to €58,420
- Profit (loss) carried forward +€10,499
up €10,499 (+39.8%), from €26,396 to €36,895
- Short-term financial debts -€4,200
no longer reported in 2025 (was €4,200)
- Trade debts +€2,556
new in 2025: €2,556
- Depreciation -€3,599
down €3,599 (-11.8%), from €30,443 to €26,843
- Gross operating margin -€2,341
down €2,341 (-5.2%), from €45,429 to €43,088
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 | €220,233 | €212,473 | -€7,761 | -3.5% |
| Fixed assets | 21/28 | €215,920 | €198,489 | -€17,431 | -8.1% |
| Tangible fixed assets | 22/27 | €215,895 | €198,464 | -€17,431 | -8.1% |
| Land and buildings | 22 | €128,476 | €118,975 | -€9,500 | -7.4% |
| Plant, machinery and equipment | 23 | €86,118 | €78,448 | -€7,670 | -8.9% |
| Furniture and vehicles | 24 | €1,302 | €1,042 | -€260 | -20.0% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €4,313 | €13,983 | +€9,670 | +224% |
| Amounts receivable within one year | 40/41 | €27 | €20 | -€7 | -25.3% |
| Other amounts receivable | 41 | €27 | €20 | -€7 | -25.3% |
| Cash at bank and in hand | 54/58 | €3,296 | €13,469 | +€10,173 | +309% |
| Deferred charges and accrued income | 490/1 | €991 | €495 | -€497 | -50.1% |
| Total equity and liabilities | 10/49 | €220,233 | €212,473 | -€7,761 | -3.5% |
| Equity | 10/15 | €140,998 | €151,497 | +€10,499 | +7.4% |
| Contributions | 10/11 | €98,000 | €98,000 | = | 0.0% |
| Capital | 10 | €98,000 | €98,000 | = | 0.0% |
| Issued capital | 100 | €98,000 | €98,000 | = | 0.0% |
| Reserves | 13 | €16,602 | €16,602 | = | 0.0% |
| Non-distributable reserves | 130/1 | €9,800 | €9,800 | = | 0.0% |
| Legal reserve | 130 | €9,800 | €9,800 | = | 0.0% |
| Distributable reserves | 133 | €6,802 | €6,802 | = | 0.0% |
| Profit (loss) carried forward | 14 | €26,396 | €36,895 | +€10,499 | +39.8% |
| Amounts payable | 17/49 | €79,235 | €60,976 | -€18,260 | -23.0% |
| Amounts payable within one year | 42/48 | €79,235 | €60,976 | -€18,260 | -23.0% |
| Financial debts | 43 | €4,200 | - | -€4,200 | |
| Credit institutions | 430/8 | €4,200 | - | -€4,200 | |
| Trade debts | 44 | - | €2,556 | +€2,556 | |
| Suppliers | 440/4 | - | €2,556 | +€2,556 | |
| Other amounts payable | 47/48 | €75,035 | €58,420 | -€16,616 | -22.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,443 | €26,843 | -€3,599 | -11.8% |
| Other operating charges | 640/8 | €5,449 | €5,739 | +€289 | +5.3% |
| Gross operating margin | 9900 | €45,429 | €43,088 | -€2,341 | -5.2% |
| Operating profit (loss) | 9901 | €9,536 | €10,505 | +€969 | +10.2% |
| Financial income | 75/76B | €2 | €66 | +€64 | +3,271% |
| Recurring financial income | 75 | €2 | €66 | +€64 | +3,271% |
| Financial charges | 65/66B | - | €72 | +€72 | |
| Recurring financial charges | 65 | - | €72 | +€72 | |
| Profit (loss) for the period before taxes | 9903 | €9,538 | €10,499 | +€961 | +10.1% |
| Income taxes | 67/77 | - | €0 | = | |
| Profit (loss) for the period | 9904 | €9,538 | €10,499 | +€961 | +10.1% |
| Profit (loss) for the period to be appropriated | 9905 | €9,538 | €10,499 | +€961 | +10.1% |
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 23 October 2026 via checked.be.