MF ASSURANCES: 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 ASSURANCES
Largest movements
- Tangible fixed assets -€16,273
down €16,273 (-14.7%), from €110,639 to €94,366
of which Land and buildings: -€13,255
- Deferred charges and accrued income +€3,264
up €3,264 (+62.6%), from €5,216 to €8,480
- Cash -€2,709
down €2,709 (-3.8%), from €72,094 to €69,385
mainly Investment in fixed assets (net) (-€18,038) and Debts after one year (-€11,910)
- Debts after one year -€11,910
down €11,910 (-17.7%), from €67,212 to €55,302
of which Financial debts: -€12,110
- Current portion of long-term debt -€4,725
down €4,725 (-26.3%), from €17,938 to €13,213
- Tax, wage and social debts -€3,690
down €3,690 (-21.4%), from €17,270 to €13,580
- Gross operating margin -€17,199
down €17,199 (-22.3%), from €77,172 to €59,973
- Taxes -€4,480
down €4,480 (-28.5%), from €15,730 to €11,250
- Depreciation +€2,770
up €2,770 (+8.8%), from €31,540 to €34,311
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 | €209,228 | €192,314 | -€16,914 | -8.1% |
| Fixed assets | 21/28 | €110,778 | €94,505 | -€16,273 | -14.7% |
| Tangible fixed assets | 22/27 | €110,639 | €94,366 | -€16,273 | -14.7% |
| Land and buildings | 22 | €84,371 | €71,116 | -€13,255 | -15.7% |
| Plant, machinery and equipment | 23 | €3,313 | €4,563 | +€1,251 | +37.8% |
| Furniture and vehicles | 24 | €22,955 | €18,686 | -€4,269 | -18.6% |
| Financial fixed assets | 28 | €139 | €139 | = | 0.0% |
| Current assets | 29/58 | €98,451 | €97,809 | -€642 | -0.7% |
| Amounts receivable within one year | 40/41 | €21,141 | €19,944 | -€1,197 | -5.7% |
| Trade receivables | 40 | €17,521 | €17,417 | -€103 | -0.6% |
| Other amounts receivable | 41 | €3,620 | €2,527 | -€1,094 | -30.2% |
| Cash at bank and in hand | 54/58 | €72,094 | €69,385 | -€2,709 | -3.8% |
| Deferred charges and accrued income | 490/1 | €5,216 | €8,480 | +€3,264 | +62.6% |
| Total equity and liabilities | 10/49 | €209,228 | €192,314 | -€16,914 | -8.1% |
| Equity | 10/15 | €104,674 | €106,762 | +€2,089 | +2.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €86,074 | €88,162 | +€2,089 | +2.4% |
| Distributable reserves | 133 | €86,074 | €88,162 | +€2,089 | +2.4% |
| Amounts payable | 17/49 | €104,555 | €85,552 | -€19,003 | -18.2% |
| Amounts payable after more than one year | 17 | €67,212 | €55,302 | -€11,910 | -17.7% |
| Financial debts | 170/4 | €65,112 | €53,002 | -€12,110 | -18.6% |
| Other amounts payable | 178/9 | €2,100 | €2,300 | +€200 | +9.5% |
| Amounts payable within one year | 42/48 | €36,851 | €30,208 | -€6,643 | -18.0% |
| Current portion of amounts payable after more than one year | 42 | €17,938 | €13,213 | -€4,725 | -26.3% |
| Trade debts | 44 | €1,400 | €3,100 | +€1,700 | +121.4% |
| Suppliers | 440/4 | €1,400 | €3,100 | +€1,700 | +121.4% |
| Advances received on contracts in progress | 46 | €67 | €55 | -€12 | -17.5% |
| Taxes, remuneration and social security | 45 | €17,270 | €13,580 | -€3,690 | -21.4% |
| Taxes | 450/3 | €17,270 | €13,580 | -€3,690 | -21.4% |
| Other amounts payable | 47/48 | €176 | €258 | +€83 | +47.2% |
| Accrued charges and deferred income | 492/3 | €492 | €42 | -€450 | -91.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,540 | €34,311 | +€2,770 | +8.8% |
| Other operating charges | 640/8 | €4,331 | €4,353 | +€22 | +0.5% |
| Gross operating margin | 9900 | €77,172 | €59,973 | -€17,199 | -22.3% |
| Operating profit (loss) | 9901 | €41,301 | €21,309 | -€19,992 | -48.4% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €2,075 | €1,888 | -€187 | -9.0% |
| Recurring financial charges | 65 | €2,075 | €1,888 | -€187 | -9.0% |
| Profit (loss) for the period before taxes | 9903 | €39,225 | €19,422 | -€19,803 | -50.5% |
| Income taxes | 67/77 | €15,730 | €11,250 | -€4,480 | -28.5% |
| Profit (loss) for the period | 9904 | €23,495 | €8,171 | -€15,324 | -65.2% |
| Profit (loss) for the period to be appropriated | 9905 | €23,495 | €8,171 | -€15,324 | -65.2% |
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 6 October 2026 via checked.be.