MCFD: what changed
Two fiscal 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.
MCFD
Largest movements
- Cash +€506,327
up €506,327 (+69.9%), from €724,133 to €1.2m
mainly Current investments (+€250,000) and Net result for the year (+€216,083)
- Current investments -€250,000
no longer reported in 2026 (was €250,000)
- Receivables after one year -€94,000
no longer reported in 2026 (was €94,000)
- Receivables within one year +€24,829
up €24,829 (+26.9%), from €92,357 to €117,186
- Reserves +€129,000
up €129,000 (+13.5%), from €953,000 to €1.1m
- Tax, wage and social debts +€34,210
up €34,210 (+162.6%), from €21,039 to €55,249
- Trade debts +€15,805
up €15,805 (+19.3%), from €81,716 to €97,521
- Staff costs +€31,418
new in 2026: €31,418
- Taxes +€10,040
up €10,040 (+11.3%), from €88,985 to €99,025
- Write-downs +€9,569
up €9,569 (+99.6%), from -€9,603 to -€34
- Other operating charges -€3,510
down €3,510 (-59.9%), from €5,859 to €2,349
From the 2025 result to the 2026 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.
Cash bridge derived
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,191,314 | €1,377,969 | +€186,655 | +15.7% |
| Fixed assets | 21/28 | €30,587 | €30,322 | -€264 | -0.9% |
| Tangible fixed assets | 22/27 | €30,587 | €30,322 | -€264 | -0.9% |
| Land and buildings | 22 | €16,479 | €12,354 | -€4,126 | -25.0% |
| Plant, machinery and equipment | 23 | €784 | €90 | -€694 | -88.5% |
| Furniture and vehicles | 24 | €574 | €1,729 | +€1,156 | +201.4% |
| Other tangible fixed assets | 26 | €12,749 | €16,149 | +€3,400 | +26.7% |
| Current assets | 29/58 | €1,160,727 | €1,347,646 | +€186,919 | +16.1% |
| Amounts receivable after more than one year | 29 | €94,000 | - | -€94,000 | |
| Other amounts receivable | 291 | €94,000 | - | -€94,000 | |
| Amounts receivable within one year | 40/41 | €92,357 | €117,186 | +€24,829 | +26.9% |
| Trade receivables | 40 | €92,357 | €117,186 | +€24,829 | +26.9% |
| Current investments | 50/53 | €250,000 | - | -€250,000 | |
| Cash at bank and in hand | 54/58 | €724,133 | €1,230,460 | +€506,327 | +69.9% |
| Deferred charges and accrued income | 490/1 | €237 | - | -€237 | |
| Total equity and liabilities | 10/49 | €1,191,314 | €1,377,969 | +€186,655 | +15.7% |
| Equity | 10/15 | €991,973 | €1,121,055 | +€129,083 | +13.0% |
| Contributions | 10/11 | €14,255 | €14,255 | = | 0.0% |
| Reserves | 13 | €953,000 | €1,082,000 | +€129,000 | +13.5% |
| Non-distributable reserves | 130/1 | €953,000 | €1,082,000 | +€129,000 | +13.5% |
| Other | 1319 | €953,000 | €1,082,000 | +€129,000 | +13.5% |
| Profit (loss) carried forward | 14 | €24,718 | €24,800 | +€83 | +0.3% |
| Amounts payable | 17/49 | €199,341 | €256,913 | +€57,572 | +28.9% |
| Amounts payable within one year | 42/48 | €199,341 | €256,913 | +€57,572 | +28.9% |
| Trade debts | 44 | €81,716 | €97,521 | +€15,805 | +19.3% |
| Suppliers | 440/4 | €81,716 | €97,521 | +€15,805 | +19.3% |
| Taxes, remuneration and social security | 45 | €21,039 | €55,249 | +€34,210 | +162.6% |
| Taxes | 450/3 | €21,039 | €55,249 | +€34,210 | +162.6% |
| Other amounts payable | 47/48 | €96,587 | €104,144 | +€7,557 | +7.8% |
| Remuneration, social security and pensions | 62 | - | €31,418 | +€31,418 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,494 | €6,436 | -€58 | -0.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€9,603 | -€34 | +€9,569 | +99.6% |
| Other operating charges | 640/8 | €5,859 | €2,349 | -€3,510 | -59.9% |
| Gross operating margin | 9900 | €336,742 | €339,257 | +€2,515 | +0.7% |
| Operating profit (loss) | 9901 | €333,992 | €299,088 | -€34,904 | -10.5% |
| Financial income | 75/76B | €16,241 | €16,167 | -€74 | -0.5% |
| Recurring financial income | 75 | €16,241 | €16,167 | -€74 | -0.5% |
| Financial charges | 65/66B | €161 | €146 | -€14 | -8.9% |
| Recurring financial charges | 65 | €161 | €146 | -€14 | -8.9% |
| Profit (loss) for the period before taxes | 9903 | €350,072 | €315,108 | -€34,964 | -10.0% |
| Income taxes | 67/77 | €88,985 | €99,025 | +€10,040 | +11.3% |
| Profit (loss) for the period | 9904 | €261,087 | €216,083 | -€45,004 | -17.2% |
| Profit (loss) for the period to be appropriated | 9905 | €261,087 | €216,083 | -€45,004 | -17.2% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2025 and 30 June 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.