M&F CONSTRUCTION: 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 CONSTRUCTION
Largest movements
- Receivables within one year -€11,323
down €11,323 (-38.1%), from €29,730 to €18,407
of which Trade receivables: -€11,957
- Cash +€4,872
up €4,872 (+482%), from €1,012 to €5,883
mainly Trade debts (+€14,699) and Receivables within one year (+€11,323)
- Tangible fixed assets +€4,646
new in 2025: €4,646
- Deferred charges and accrued income -€561
no longer reported in 2025 (was €561)
- Profit (loss) carried forward -€16,009
down €16,009 (-93.1%), from €17,198 to €1,189
- Trade debts +€14,699
up €14,699 (+619%), from €2,375 to €17,074
- Tax, wage and social debts -€628
down €628 (-13.9%), from €4,515 to €3,886
- Other debts -€428
down €428 (-8.2%), from €5,215 to €4,787
- Gross operating margin -€32,652
down €32,652, from €18,370 to -€14,283
- Taxes -€3,886
no longer reported in 2025 (was €3,886)
- Depreciation +€1,543
new in 2025: €1,543
- Other operating charges -€351
down €351 (-81.6%), from €430 to €79
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 | €31,302 | €28,936 | -€2,366 | -7.6% |
| Fixed assets | 21/28 | - | €4,646 | +€4,646 | |
| Tangible fixed assets | 22/27 | - | €4,646 | +€4,646 | |
| Furniture and vehicles | 24 | - | €4,646 | +€4,646 | |
| Current assets | 29/58 | €31,302 | €24,290 | -€7,012 | -22.4% |
| Amounts receivable within one year | 40/41 | €29,730 | €18,407 | -€11,323 | -38.1% |
| Trade receivables | 40 | €29,033 | €17,076 | -€11,957 | -41.2% |
| Other amounts receivable | 41 | €696 | €1,330 | +€634 | +91.0% |
| Cash at bank and in hand | 54/58 | €1,012 | €5,883 | +€4,872 | +482% |
| Deferred charges and accrued income | 490/1 | €561 | - | -€561 | |
| Total equity and liabilities | 10/49 | €31,302 | €28,936 | -€2,366 | -7.6% |
| Equity | 10/15 | €19,198 | €3,189 | -€16,009 | -83.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €17,198 | €1,189 | -€16,009 | -93.1% |
| Amounts payable | 17/49 | €12,105 | €25,748 | +€13,643 | +113% |
| Amounts payable within one year | 42/48 | €12,105 | €25,748 | +€13,643 | +113% |
| Trade debts | 44 | €2,375 | €17,074 | +€14,699 | +619% |
| Suppliers | 440/4 | €2,375 | €17,074 | +€14,699 | +619% |
| Taxes, remuneration and social security | 45 | €4,515 | €3,886 | -€628 | -13.9% |
| Taxes | 450/3 | €4,515 | €3,886 | -€628 | -13.9% |
| Other amounts payable | 47/48 | €5,215 | €4,787 | -€428 | -8.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1,543 | +€1,543 | |
| Other operating charges | 640/8 | €430 | €79 | -€351 | -81.6% |
| Gross operating margin | 9900 | €18,370 | -€14,283 | -€32,652 | |
| Operating profit (loss) | 9901 | €17,940 | -€15,905 | -€33,844 | |
| Financial charges | 65/66B | €112 | €104 | -€8 | -6.9% |
| Recurring financial charges | 65 | €112 | €104 | -€8 | -6.9% |
| Profit (loss) for the period before taxes | 9903 | €17,828 | -€16,009 | -€33,837 | |
| Income taxes | 67/77 | €3,886 | - | -€3,886 | |
| Profit (loss) for the period | 9904 | €13,941 | -€16,009 | -€29,950 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,941 | -€16,009 | -€29,950 |
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 26 October 2026 via checked.be.