MF-CCM: 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.
MF-CCM
Largest movements
- Receivables within one year +€78,730
up €78,730 (+37.2%), from €211,872 to €290,602
of which Trade receivables: +€120,309
- Cash +€40,730
up €40,730 (+28.8%), from €141,338 to €182,068
mainly Net result for the year (+€74,734) and Debts within one year (+€43,859)
- Tangible fixed assets -€5,016
no longer reported in 2025 (was €5,016)
of which Furniture and vehicles: -€3,324
- Profit (loss) carried forward +€74,734
up €74,734 (+196%), from €38,216 to €112,950
- Debts within one year +€43,859
up €43,859 (+17.4%), from €251,656 to €295,515
of which Trade debts: +€40,403
- Staff costs -€68,689
down €68,689 (-14.4%), from €475,435 to €406,746
- Gross operating margin -€12,205
down €12,205 (-2.4%), from €519,085 to €506,880
- Other operating charges +€6,907
up €6,907 (+2,092%), from €330 to €7,237
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 | €361,082 | €478,539 | +€117,457 | +32.5% |
| Fixed assets | 21/28 | €6,240 | - | -€6,240 | |
| Intangible fixed assets | 21 | €769 | - | -€769 | |
| Tangible fixed assets | 22/27 | €5,016 | - | -€5,016 | |
| Plant, machinery and equipment | 23 | €1,692 | - | -€1,692 | |
| Furniture and vehicles | 24 | €3,324 | - | -€3,324 | |
| Financial fixed assets | 28 | €455 | - | -€455 | |
| Current assets | 29/58 | €354,841 | €478,539 | +€123,697 | +34.9% |
| Amounts receivable within one year | 40/41 | €211,872 | €290,602 | +€78,730 | +37.2% |
| Trade receivables | 40 | €50,690 | €171,000 | +€120,309 | +237% |
| Other amounts receivable | 41 | €161,182 | €119,603 | -€41,579 | -25.8% |
| Cash at bank and in hand | 54/58 | €141,338 | €182,068 | +€40,730 | +28.8% |
| Deferred charges and accrued income | 490/1 | €1,631 | €5,868 | +€4,238 | +260% |
| Total equity and liabilities | 10/49 | €361,082 | €478,539 | +€117,457 | +32.5% |
| Equity | 10/15 | €109,426 | €183,024 | +€73,598 | +67.3% |
| Contributions | 10/11 | €1,944 | €1,944 | = | 0.0% |
| Capital | 10 | €1,944 | €1,944 | = | 0.0% |
| Reserves | 13 | €68,129 | €68,129 | = | 0.0% |
| Profit (loss) carried forward | 14 | €38,216 | €112,950 | +€74,734 | +196% |
| Investment grants | 15 | €1,136 | - | -€1,136 | |
| Amounts payable | 17/49 | €251,656 | €295,515 | +€43,859 | +17.4% |
| Amounts payable within one year | 42/48 | €251,656 | €295,515 | +€43,859 | +17.4% |
| Trade debts | 44 | €191,116 | €231,519 | +€40,403 | +21.1% |
| Suppliers | 440/4 | €191,116 | €231,519 | +€40,403 | +21.1% |
| Taxes, remuneration and social security | 45 | €57,703 | €60,696 | +€2,993 | +5.2% |
| Taxes | 450/3 | €16,147 | €15,305 | -€843 | -5.2% |
| Remuneration and social security | 454/9 | €41,556 | €45,391 | +€3,836 | +9.2% |
| Non-recurring operating income | 76A | - | €15,091 | +€15,091 | |
| Remuneration, social security and pensions | 62 | €475,435 | €406,746 | -€68,689 | -14.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,426 | €5,785 | -€1,641 | -22.1% |
| Other operating charges | 640/8 | €330 | €7,237 | +€6,907 | +2,092% |
| Non-recurring operating charges | 66A | €578 | €11,715 | +€11,137 | +1,928% |
| Gross operating margin | 9900 | €519,085 | €506,880 | -€12,205 | -2.4% |
| Operating profit (loss) | 9901 | €35,317 | €75,397 | +€40,080 | +113% |
| Financial income | 75/76B | €2,446 | €181 | -€2,265 | -92.6% |
| Recurring financial income | 75 | €2,446 | €181 | -€2,265 | -92.6% |
| Financial charges | 65/66B | €4,371 | €844 | -€3,528 | -80.7% |
| Recurring financial charges | 65 | €4,371 | €844 | -€3,528 | -80.7% |
| Profit (loss) for the period before taxes | 9903 | €33,391 | €74,734 | +€41,343 | +124% |
| Profit (loss) for the period | 9904 | €33,391 | €74,734 | +€41,343 | +124% |
| Profit (loss) for the period to be appropriated | 9905 | €33,391 | €74,734 | +€41,343 | +124% |
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 13 October 2026 via checked.be.