MF 10: 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.
MF 10
Largest movements
- Cash +€4,874
up €4,874 (+187.8%), from €2,595 to €7,469
mainly Trade debts (+€3,267) and Tax, wage and social debts (+€1,924)
- Receivables within one year -€1,000
down €1,000 (-20.0%), from €5,000 to €4,000
- Intangible fixed assets -€714
down €714 (-18.5%), from €3,855 to €3,141
- Trade debts +€3,267
up €3,267 (+564.2%), from €579 to €3,846
- Debts after one year -€2,664
down €2,664 (-47.1%), from €5,655 to €2,991
- Tax, wage and social debts +€1,924
up €1,924 (+71.0%), from €2,708 to €4,632
- Profit (loss) carried forward +€633
up €633 (+25.4%), from -€2,492 to -€1,859
- Other operating charges +€1,366
up €1,366 (+161.1%), from €848 to €2,214
- Gross operating margin -€594
down €594 (-11.8%), from €5,045 to €4,451
- Taxes -€217
down €217 (-29.4%), from €738 to €521
- Financial charges -€213
down €213 (-36.6%), from €582 to €369
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.
Cash bridge derived
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 | €11,450 | €14,610 | +€3,160 | +27.6% |
| Fixed assets | 21/28 | €3,855 | €3,141 | -€714 | -18.5% |
| Intangible fixed assets | 21 | €3,855 | €3,141 | -€714 | -18.5% |
| Current assets | 29/58 | €7,595 | €11,469 | +€3,874 | +51.0% |
| Amounts receivable within one year | 40/41 | €5,000 | €4,000 | -€1,000 | -20.0% |
| Trade receivables | 40 | €5,000 | €4,000 | -€1,000 | -20.0% |
| Cash at bank and in hand | 54/58 | €2,595 | €7,469 | +€4,874 | +187.8% |
| Total equity and liabilities | 10/49 | €11,450 | €14,610 | +€3,160 | +27.6% |
| Equity | 10/15 | €2,508 | €3,141 | +€633 | +25.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,492 | -€1,859 | +€633 | +25.4% |
| Amounts payable | 17/49 | €8,942 | €11,469 | +€2,527 | +28.3% |
| Amounts payable after more than one year | 17 | €5,655 | €2,991 | -€2,664 | -47.1% |
| Financial debts | 170/4 | €5,655 | €2,991 | -€2,664 | -47.1% |
| Amounts payable within one year | 42/48 | €3,287 | €8,478 | +€5,191 | +157.9% |
| Trade debts | 44 | €579 | €3,846 | +€3,267 | +564.2% |
| Suppliers | 440/4 | €579 | €3,846 | +€3,267 | +564.2% |
| Taxes, remuneration and social security | 45 | €2,708 | €4,632 | +€1,924 | +71.0% |
| Taxes | 450/3 | €2,708 | €4,632 | +€1,924 | +71.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €714 | €714 | = | 0.0% |
| Other operating charges | 640/8 | €848 | €2,214 | +€1,366 | +161.1% |
| Gross operating margin | 9900 | €5,045 | €4,451 | -€594 | -11.8% |
| Operating profit (loss) | 9901 | €3,483 | €1,523 | -€1,960 | -56.3% |
| Financial charges | 65/66B | €582 | €369 | -€213 | -36.6% |
| Recurring financial charges | 65 | €582 | €369 | -€213 | -36.6% |
| Profit (loss) for the period before taxes | 9903 | €2,901 | €1,154 | -€1,747 | -60.2% |
| Income taxes | 67/77 | €738 | €521 | -€217 | -29.4% |
| Profit (loss) for the period | 9904 | €2,163 | €633 | -€1,530 | -70.7% |
| Profit (loss) for the period to be appropriated | 9905 | €2,163 | €633 | -€1,530 | -70.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.