M.F.S. CONSTRUCT: 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.S. CONSTRUCT
Largest movements
- Receivables within one year +€128,339
up €128,339 (+231%), from €55,659 to €183,998
of which Other amounts receivable: +€127,489
- Tangible fixed assets -€6,980
down €6,980 (-59.7%), from €11,702 to €4,722
- Cash -€5,596
down €5,596 (-5.6%), from €99,506 to €93,910
mainly Receivables within one year (-€128,339) and Accrued charges and deferred income (-€5,600)
- Trade debts +€55,263
up €55,263 (+197%), from €28,029 to €83,291
- Profit (loss) carried forward +€46,639
up €46,639 (+51.3%), from €90,882 to €137,521
- Tax, wage and social debts +€22,975
up €22,975 (+155%), from €14,837 to €37,812
of which Taxes: +€16,163
- Accrued charges and deferred income -€5,600
down €5,600 (-47.6%), from €11,760 to €6,160
- Current portion of long-term debt -€4,695
no longer reported in 2025 (was €4,695)
- Gross operating margin +€57,459
up €57,459 (+282%), from €20,411 to €77,870
- Taxes +€16,009
up €16,009 (+367%), from €4,367 to €20,376
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 | €166,918 | €283,119 | +€116,201 | +69.6% |
| Fixed assets | 21/28 | €11,702 | €4,722 | -€6,980 | -59.7% |
| Tangible fixed assets | 22/27 | €11,702 | €4,722 | -€6,980 | -59.7% |
| Furniture and vehicles | 24 | €11,702 | €4,722 | -€6,980 | -59.7% |
| Current assets | 29/58 | €155,216 | €278,398 | +€123,181 | +79.4% |
| Amounts receivable within one year | 40/41 | €55,659 | €183,998 | +€128,339 | +231% |
| Trade receivables | 40 | €54,645 | €55,496 | +€851 | +1.6% |
| Other amounts receivable | 41 | €1,013 | €128,502 | +€127,489 | +12,582% |
| Cash at bank and in hand | 54/58 | €99,506 | €93,910 | -€5,596 | -5.6% |
| Deferred charges and accrued income | 490/1 | €52 | €489 | +€437 | +839% |
| Total equity and liabilities | 10/49 | €166,918 | €283,119 | +€116,201 | +69.6% |
| Equity | 10/15 | €102,742 | €149,381 | +€46,639 | +45.4% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €90,882 | €137,521 | +€46,639 | +51.3% |
| Amounts payable | 17/49 | €64,176 | €133,738 | +€69,562 | +108% |
| Amounts payable within one year | 42/48 | €52,416 | €127,578 | +€75,162 | +143% |
| Current portion of amounts payable after more than one year | 42 | €4,695 | - | -€4,695 | |
| Trade debts | 44 | €28,029 | €83,291 | +€55,263 | +197% |
| Suppliers | 440/4 | €28,029 | €83,291 | +€55,263 | +197% |
| Taxes, remuneration and social security | 45 | €14,837 | €37,812 | +€22,975 | +155% |
| Taxes | 450/3 | €9,863 | €26,026 | +€16,163 | +164% |
| Remuneration and social security | 454/9 | €4,974 | €11,786 | +€6,812 | +137% |
| Other amounts payable | 47/48 | €4,855 | €6,475 | +€1,621 | +33.4% |
| Accrued charges and deferred income | 492/3 | €11,760 | €6,160 | -€5,600 | -47.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,664 | €6,980 | -€683 | -8.9% |
| Other operating charges | 640/8 | €3,504 | €3,712 | +€208 | +5.9% |
| Gross operating margin | 9900 | €20,411 | €77,870 | +€57,459 | +282% |
| Operating profit (loss) | 9901 | €9,244 | €67,178 | +€57,935 | +627% |
| Financial income | 75/76B | €520 | €38 | -€483 | -92.7% |
| Recurring financial income | 75 | €520 | €38 | -€483 | -92.7% |
| Financial charges | 65/66B | €356 | €202 | -€154 | -43.2% |
| Recurring financial charges | 65 | €356 | €202 | -€154 | -43.2% |
| Profit (loss) for the period before taxes | 9903 | €9,409 | €67,015 | +€57,606 | +612% |
| Income taxes | 67/77 | €4,367 | €20,376 | +€16,009 | +367% |
| Profit (loss) for the period | 9904 | €5,042 | €46,639 | +€41,597 | +825% |
| Profit (loss) for the period to be appropriated | 9905 | €5,042 | €46,639 | +€41,597 | +825% |
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 17 October 2026 via checked.be.