M.F.T.: 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.T.
Largest movements
- Cash +€11,056
up €11,056 (+497%), from €2,223 to €13,279
mainly Trade debts (+€21,428) and Depreciation (+€7,525)
- Receivables within one year +€10,974
up €10,974 (+13.7%), from €80,038 to €91,012
of which Other amounts receivable: +€16,089
- Intangible fixed assets -€6,000
down €6,000 (-22.2%), from €27,000 to €21,000
- Trade debts +€21,428
up €21,428 (+120%), from €17,845 to €39,273
- Profit (loss) carried forward -€2,969
down €2,969 (-15.7%), from €18,961 to €15,992
- Tax, wage and social debts +€2,287
up €2,287 (+2.6%), from €89,462 to €91,749
of which Taxes: +€1,252
- Gross operating margin +€9,072
up €9,072 (+21.7%), from €41,718 to €50,790
- Staff costs +€4,734
up €4,734 (+10.8%), from €43,826 to €48,560
- Financial charges -€891
down €891 (-48.2%), from €1,849 to €958
- Other operating charges -€879
down €879 (-56.4%), from €1,559 to €680
- Depreciation +€740
up €740 (+10.9%), from €6,785 to €7,525
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 | €189,821 | €208,660 | +€18,839 | +9.9% |
| Fixed assets | 21/28 | €29,982 | €25,618 | -€4,364 | -14.6% |
| Intangible fixed assets | 21 | €27,000 | €21,000 | -€6,000 | -22.2% |
| Tangible fixed assets | 22/27 | €2,822 | €4,458 | +€1,636 | +58.0% |
| Plant, machinery and equipment | 23 | €277 | €436 | +€159 | +57.4% |
| Furniture and vehicles | 24 | €2,313 | €3,830 | +€1,517 | +65.6% |
| Other tangible fixed assets | 26 | €232 | €192 | -€40 | -17.2% |
| Financial fixed assets | 28 | €160 | €160 | = | 0.0% |
| Current assets | 29/58 | €159,839 | €183,042 | +€23,203 | +14.5% |
| Amounts receivable after more than one year | 29 | €74,444 | €74,444 | = | 0.0% |
| Other amounts receivable | 291 | €74,444 | €74,444 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €80,038 | €91,012 | +€10,974 | +13.7% |
| Trade receivables | 40 | €12,433 | €7,318 | -€5,115 | -41.1% |
| Other amounts receivable | 41 | €67,605 | €83,694 | +€16,089 | +23.8% |
| Cash at bank and in hand | 54/58 | €2,223 | €13,279 | +€11,056 | +497% |
| Deferred charges and accrued income | 490/1 | €3,134 | €4,307 | +€1,173 | +37.4% |
| Total equity and liabilities | 10/49 | €189,821 | €208,660 | +€18,839 | +9.9% |
| Equity | 10/15 | €80,607 | €77,638 | -€2,969 | -3.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €58,646 | €58,646 | = | 0.0% |
| Distributable reserves | 133 | €58,646 | €58,646 | = | 0.0% |
| Profit (loss) carried forward | 14 | €18,961 | €15,992 | -€2,969 | -15.7% |
| Amounts payable | 17/49 | €109,214 | €131,022 | +€21,808 | +20.0% |
| Amounts payable within one year | 42/48 | €109,214 | €131,022 | +€21,808 | +20.0% |
| Financial debts | 43 | €1,907 | - | -€1,907 | |
| Credit institutions | 430/8 | €1,907 | - | -€1,907 | |
| Trade debts | 44 | €17,845 | €39,273 | +€21,428 | +120% |
| Suppliers | 440/4 | €17,845 | €39,273 | +€21,428 | +120% |
| Taxes, remuneration and social security | 45 | €89,462 | €91,749 | +€2,287 | +2.6% |
| Taxes | 450/3 | €75,924 | €77,176 | +€1,252 | +1.6% |
| Remuneration and social security | 454/9 | €13,538 | €14,573 | +€1,035 | +7.6% |
| Remuneration, social security and pensions | 62 | €43,826 | €48,560 | +€4,734 | +10.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,785 | €7,525 | +€740 | +10.9% |
| Other operating charges | 640/8 | €1,559 | €680 | -€879 | -56.4% |
| Gross operating margin | 9900 | €41,718 | €50,790 | +€9,072 | +21.7% |
| Operating profit (loss) | 9901 | -€10,452 | -€5,975 | +€4,477 | +42.8% |
| Financial income | 75/76B | €4,296 | €4,122 | -€174 | -4.1% |
| Recurring financial income | 75 | €4,296 | €4,122 | -€174 | -4.1% |
| Financial charges | 65/66B | €1,849 | €958 | -€891 | -48.2% |
| Recurring financial charges | 65 | €1,849 | €958 | -€891 | -48.2% |
| Profit (loss) for the period before taxes | 9903 | -€8,005 | -€2,811 | +€5,194 | +64.9% |
| Income taxes | 67/77 | €58 | €158 | +€100 | +172% |
| Profit (loss) for the period | 9904 | -€8,063 | -€2,969 | +€5,094 | +63.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,063 | -€2,969 | +€5,094 | +63.2% |
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 21 October 2026 via checked.be.