MF CONTRACTORS: 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 CONTRACTORS
Largest movements
- Receivables within one year -€340,440
down €340,440 (-50.5%), from €674,002 to €333,562
of which Trade receivables: -€343,576
- Cash -€36,528
down €36,528 (-50.6%), from €72,139 to €35,611
mainly Trade debts (-€209,000) and Net result for the year (-€107,351)
- Stocks and contracts +€27,111
new in 2025: €27,111
- Financial fixed assets +€24,400
up €24,400 (+858%), from €2,845 to €27,245
- Trade debts -€209,000
down €209,000 (-52.9%), from €395,021 to €186,021
- Profit (loss) carried forward -€107,351
down €107,351 (-66.5%), from €161,531 to €54,180
- Current portion of long-term debt +€16,581
new in 2025: €16,581
- Debts after one year -€14,570
down €14,570 (-21.3%), from €68,460 to €53,890
- Gross operating margin -€283,548
down €283,548 (-55.1%), from €515,040 to €231,491
- Taxes -€53,518
down €53,518 (-98.3%), from €54,444 to €927
- Other operating charges +€35,491
up €35,491 (+83.0%), from €42,769 to €78,260
- Staff costs -€16,499
down €16,499 (-6.9%), from €240,583 to €224,084
- Depreciation -€12,867
down €12,867 (-54.2%), from €23,759 to €10,891
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 | €825,218 | €510,469 | -€314,749 | -38.1% |
| Fixed assets | 21/28 | €76,689 | €106,735 | +€30,045 | +39.2% |
| Tangible fixed assets | 22/27 | €73,844 | €79,489 | +€5,645 | +7.6% |
| Plant, machinery and equipment | 23 | €5,977 | €6,503 | +€526 | +8.8% |
| Furniture and vehicles | 24 | €67,867 | €72,987 | +€5,120 | +7.5% |
| Financial fixed assets | 28 | €2,845 | €27,245 | +€24,400 | +858% |
| Current assets | 29/58 | €748,529 | €403,734 | -€344,795 | -46.1% |
| Stocks and contracts in progress | 3 | - | €27,111 | +€27,111 | |
| Stocks | 30/36 | - | €27,111 | +€27,111 | |
| Amounts receivable within one year | 40/41 | €674,002 | €333,562 | -€340,440 | -50.5% |
| Trade receivables | 40 | €578,153 | €234,577 | -€343,576 | -59.4% |
| Other amounts receivable | 41 | €95,849 | €98,985 | +€3,137 | +3.3% |
| Cash at bank and in hand | 54/58 | €72,139 | €35,611 | -€36,528 | -50.6% |
| Deferred charges and accrued income | 490/1 | €2,388 | €7,451 | +€5,062 | +212% |
| Total equity and liabilities | 10/49 | €825,218 | €510,469 | -€314,749 | -38.1% |
| Equity | 10/15 | €181,991 | €74,640 | -€107,351 | -59.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €161,531 | €54,180 | -€107,351 | -66.5% |
| Amounts payable | 17/49 | €643,228 | €435,829 | -€207,399 | -32.2% |
| Amounts payable after more than one year | 17 | €68,460 | €53,890 | -€14,570 | -21.3% |
| Financial debts | 170/4 | €68,460 | €53,890 | -€14,570 | -21.3% |
| Amounts payable within one year | 42/48 | €574,768 | €381,939 | -€192,828 | -33.5% |
| Current portion of amounts payable after more than one year | 42 | - | €16,581 | +€16,581 | |
| Financial debts | 43 | €75,000 | €80,000 | +€5,000 | +6.7% |
| Credit institutions | 430/8 | €75,000 | €80,000 | +€5,000 | +6.7% |
| Trade debts | 44 | €395,021 | €186,021 | -€209,000 | -52.9% |
| Suppliers | 440/4 | €395,021 | €186,021 | -€209,000 | -52.9% |
| Taxes, remuneration and social security | 45 | €104,747 | €99,337 | -€5,410 | -5.2% |
| Taxes | 450/3 | €61,668 | €68,737 | +€7,069 | +11.5% |
| Remuneration and social security | 454/9 | €43,079 | €30,600 | -€12,479 | -29.0% |
| Non-recurring operating income | 76A | €22,564 | €32,684 | +€10,119 | +44.8% |
| Remuneration, social security and pensions | 62 | €240,583 | €224,084 | -€16,499 | -6.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,759 | €10,891 | -€12,867 | -54.2% |
| Other operating charges | 640/8 | €42,769 | €78,260 | +€35,491 | +83.0% |
| Non-recurring operating charges | 66A | €3,436 | €13,373 | +€9,937 | +289% |
| Gross operating margin | 9900 | €515,040 | €231,491 | -€283,548 | -55.1% |
| Operating profit (loss) | 9901 | €204,493 | -€95,117 | -€299,610 | |
| Financial income | 75/76B | €69 | €3 | -€66 | -95.2% |
| Recurring financial income | 75 | €69 | €3 | -€66 | -95.2% |
| Financial charges | 65/66B | €7,502 | €11,310 | +€3,808 | +50.8% |
| Recurring financial charges | 65 | €7,243 | €11,310 | +€4,067 | +56.2% |
| Non-recurring financial charges | 66B | €259 | - | -€259 | |
| Profit (loss) for the period before taxes | 9903 | €197,060 | -€106,424 | -€303,484 | |
| Income taxes | 67/77 | €54,444 | €927 | -€53,518 | -98.3% |
| Profit (loss) for the period | 9904 | €142,615 | -€107,351 | -€249,966 | |
| Profit (loss) for the period to be appropriated | 9905 | €142,615 | -€107,351 | -€249,966 |
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 25 October 2026 via checked.be.