MF CONSULT: 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.
What changed
MF CONSULT
NACE 77.391, Rental and leasing activities
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€1.2m
2024 · €843,661+€319,059
Equity
€4.5m
2024 · €3.9m+€562,721
Cash
€113,645
2024 · €102,086+€11,559
Balance sheet total
€13.8m
2024 · €11.8m+€2.1m
Largest movements
Assets
- Tangible fixed assets +€1.7m
up €1.7m (+16.2%), from €10.7m to €12.4m
of which Assets under construction and advance payments: +€1.2m
- Receivables within one year +€249,914
up €249,914 (+205.6%), from €121,568 to €371,482
of which Trade receivables: +€228,909
- Financial fixed assets +€185,619
up €185,619 (+156.9%), from €118,334 to €303,953
- Receivables after one year -€149,939
down €149,939 (-30.1%), from €497,379 to €347,440
Equity and liabilities
- Debts after one year +€1.2m
up €1.2m (+22.5%), from €5.2m to €6.4m
of which Financial debts: +€992,629
- Profit (loss) carried forward +€822,993
up €822,993 (+81.7%), from €1.0m to €1.8m
- Other debts +€620,973
up €620,973 (+372.3%), from €166,812 to €787,785
- Current portion of long-term debt -€503,492
down €503,492 (-24.8%), from €2.0m to €1.5m
- Trade debts +€356,794
up €356,794 (+414.6%), from €86,062 to €442,856
Income statement
- Gross operating margin +€814,200
up €814,200 (+21.1%), from €3.9m to €4.7m
- Depreciation +€474,196
up €474,196 (+19.8%), from €2.4m to €2.9m
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.
Result 2024
€843,661
Gross operating margin
+€814,200
Staff costs
-€957
Depreciation
-€474,196
Other operating charges
-€25,363
Financial income
-€21,561
Financial charges
+€10,058
Taxes
+€12,297
Deferred taxes and other
+€4,580
Result 2025
€1.2m
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.
From operations
+€4.8m
Investment
-€4.8m
Financing
+€67,781
Cash 2024
€102,086
From operations (derived)
+€4.8m
Net result for the year
+€1.2m
Depreciation
+€2.9m
Receivables after one year
+€149,939
Receivables within one year
-€249,914
Smaller working-capital items
-€6,940
Trade debts
+€356,794
Tax, wage and social debts
-€95,424
Other debts
+€620,973
Accrued charges and deferred income
-€36,073
Investment (derived)
-€4.8m
Investment in fixed assets (net)
-€4.8m
Current investments
-€35,021
Financing
+€67,781
Debts after one year
+€1.2m
Current portion of long-term debt
-€503,492
Contributions, distributions and other
-€599,999
Cash 2025
€113,645
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €11,766,441 | €13,839,789 | +€2.1m | +17.6% |
| Fixed assets | 21/28 | €10,812,211 | €12,735,488 | +€1.9m | +17.8% |
| Tangible fixed assets | 22/27 | €10,693,877 | €12,431,535 | +€1.7m | +16.2% |
| Plant, machinery and equipment | 23 | €9,927,491 | €10,485,919 | +€558,428 | +5.6% |
| Furniture and vehicles | 24 | €58,886 | €45,616 | -€13,270 | -22.5% |
| Assets under construction and advance payments | 27 | €707,500 | €1,900,000 | +€1.2m | +168.6% |
| Financial fixed assets | 28 | €118,334 | €303,953 | +€185,619 | +156.9% |
| Current assets | 29/58 | €954,230 | €1,104,301 | +€150,071 | +15.7% |
| Amounts receivable after more than one year | 29 | €497,379 | €347,440 | -€149,939 | -30.1% |
| Trade receivables | 290 | €497,379 | €347,440 | -€149,939 | -30.1% |
| Amounts receivable within one year | 40/41 | €121,568 | €371,482 | +€249,914 | +205.6% |
| Trade receivables | 40 | €120,209 | €349,118 | +€228,909 | +190.4% |
| Other amounts receivable | 41 | €1,359 | €22,363 | +€21,004 | +1545.6% |
| Current investments | 50/53 | - | €35,021 | +€35,021 | |
| Cash at bank and in hand | 54/58 | €102,086 | €113,645 | +€11,559 | +11.3% |
| Deferred charges and accrued income | 490/1 | €233,197 | €236,713 | +€3,516 | +1.5% |
| Total equity and liabilities | 10/49 | €11,766,441 | €13,839,789 | +€2.1m | +17.6% |
| Equity | 10/15 | €3,921,100 | €4,483,821 | +€562,721 | +14.4% |
| Contributions | 10/11 | €323,000 | €323,000 | = | 0.0% |
| Reserves | 13 | €2,590,930 | €2,330,658 | -€260,272 | -10.0% |
| Tax-exempt reserves | 132 | €288,240 | €277,967 | -€10,273 | -3.6% |
| Distributable reserves | 133 | €2,302,690 | €2,052,690 | -€250,000 | -10.9% |
| Profit (loss) carried forward | 14 | €1,007,170 | €1,830,163 | +€822,993 | +81.7% |
| Provisions and deferred taxes | 16 | €57,623 | €54,199 | -€3,424 | -5.9% |
| Deferred taxes | 168 | €57,623 | €54,199 | -€3,424 | -5.9% |
| Amounts payable | 17/49 | €7,787,718 | €9,301,769 | +€1.5m | +19.4% |
| Amounts payable after more than one year | 17 | €5,205,085 | €6,376,357 | +€1.2m | +22.5% |
| Financial debts | 170/4 | €3,708,656 | €4,701,285 | +€992,629 | +26.8% |
| Other amounts payable | 178/9 | €1,496,429 | €1,675,072 | +€178,643 | +11.9% |
| Amounts payable within one year | 42/48 | €2,382,647 | €2,761,499 | +€378,852 | +15.9% |
| Current portion of amounts payable after more than one year | 42 | €2,032,522 | €1,529,030 | -€503,492 | -24.8% |
| Trade debts | 44 | €86,062 | €442,856 | +€356,794 | +414.6% |
| Suppliers | 440/4 | €86,062 | €442,856 | +€356,794 | +414.6% |
| Taxes, remuneration and social security | 45 | €97,251 | €1,827 | -€95,424 | -98.1% |
| Taxes | 450/3 | €97,251 | €1,827 | -€95,424 | -98.1% |
| Other amounts payable | 47/48 | €166,812 | €787,785 | +€620,973 | +372.3% |
| Accrued charges and deferred income | 492/3 | €199,986 | €163,913 | -€36,073 | -18.0% |
| Non-recurring operating income | 76A | - | €155,654 | +€155,654 | |
| Remuneration, social security and pensions | 62 | €96,371 | €97,328 | +€957 | +1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,394,666 | €2,868,862 | +€474,196 | +19.8% |
| Other operating charges | 640/8 | €14,911 | €40,274 | +€25,363 | +170.1% |
| Gross operating margin | 9900 | €3,865,968 | €4,680,168 | +€814,200 | +21.1% |
| Operating profit (loss) | 9901 | €1,360,020 | €1,673,705 | +€313,685 | +23.1% |
| Financial income | 75/76B | €102,129 | €80,568 | -€21,561 | -21.1% |
| Recurring financial income | 75 | €102,129 | €80,568 | -€21,561 | -21.1% |
| Financial charges | 65/66B | €220,453 | €210,395 | -€10,058 | -4.6% |
| Recurring financial charges | 65 | €220,453 | €210,395 | -€10,058 | -4.6% |
| Profit (loss) for the period before taxes | 9903 | €1,241,696 | €1,543,878 | +€302,182 | +24.3% |
| Transfer from deferred taxes | 780 | €7,901 | €12,400 | +€4,499 | +56.9% |
| Transfer to deferred taxes | 680 | €9,057 | €8,976 | -€81 | -0.9% |
| Income taxes | 67/77 | €396,879 | €384,582 | -€12,297 | -3.1% |
| Profit (loss) for the period | 9904 | €843,661 | €1,162,720 | +€319,059 | +37.8% |
| Transfer from tax-exempt reserves | 789 | €23,703 | €37,200 | +€13,497 | +56.9% |
| Transfer to tax-exempt reserves | 689 | €27,171 | €26,927 | -€244 | -0.9% |
| Profit (loss) for the period to be appropriated | 9905 | €840,193 | €1,172,993 | +€332,800 | +39.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.