MF FACILITY: 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 FACILITY
Largest movements
- Receivables within one year +€33,480
up €33,480 (+291%), from €11,500 to €44,980
of which Trade receivables: +€33,478
- Tangible fixed assets -€29,787
down €29,787 (-7.3%), from €406,679 to €376,893
of which Land and buildings: -€15,800
- Cash -€12,958
down €12,958 (-85.7%), from €15,127 to €2,169
mainly Receivables within one year (-€33,480) and Accrued charges and deferred income (-€9,404)
- Intangible fixed assets -€6,035
down €6,035 (-56.6%), from €10,664 to €4,629
- Accrued charges and deferred income -€9,404
down €9,404 (-100%), from €9,404 to €0
- Tax, wage and social debts -€4,689
down €4,689 (-96.1%), from €4,879 to €190
- Gross operating margin +€16,369
up €16,369 (+58.3%), from €28,062 to €44,431
- Financial charges -€13,403
down €13,403 (-98.8%), from €13,572 to €168
- Other operating charges +€7,423
up €7,423 (+314%), from €2,366 to €9,789
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 | €447,459 | €429,740 | -€17,719 | -4.0% |
| Fixed assets | 21/28 | €417,343 | €381,522 | -€35,821 | -8.6% |
| Intangible fixed assets | 21 | €10,664 | €4,629 | -€6,035 | -56.6% |
| Tangible fixed assets | 22/27 | €406,679 | €376,893 | -€29,787 | -7.3% |
| Land and buildings | 22 | €390,910 | €375,110 | -€15,800 | -4.0% |
| Furniture and vehicles | 24 | €15,769 | €1,782 | -€13,987 | -88.7% |
| Current assets | 29/58 | €30,116 | €48,218 | +€18,102 | +60.1% |
| Amounts receivable within one year | 40/41 | €11,500 | €44,980 | +€33,480 | +291% |
| Trade receivables | 40 | €11,500 | €44,978 | +€33,478 | +291% |
| Other amounts receivable | 41 | - | €2 | +€2 | |
| Cash at bank and in hand | 54/58 | €15,127 | €2,169 | -€12,958 | -85.7% |
| Deferred charges and accrued income | 490/1 | €3,489 | €1,069 | -€2,420 | -69.4% |
| Total equity and liabilities | 10/49 | €447,459 | €429,740 | -€17,719 | -4.0% |
| Equity | 10/15 | €264,029 | €262,491 | -€1,538 | -0.6% |
| Contributions | 10/11 | €378,600 | €378,600 | = | 0.0% |
| Reserves | 13 | €6,662 | €6,662 | = | 0.0% |
| Distributable reserves | 133 | €6,662 | €6,662 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€121,234 | -€122,772 | -€1,538 | -1.3% |
| Amounts payable | 17/49 | €183,430 | €167,249 | -€16,181 | -8.8% |
| Amounts payable within one year | 42/48 | €174,026 | €167,249 | -€6,777 | -3.9% |
| Trade debts | 44 | €3,374 | €0 | -€3,374 | -100% |
| Suppliers | 440/4 | €3,374 | €0 | -€3,374 | -100% |
| Taxes, remuneration and social security | 45 | €4,879 | €190 | -€4,689 | -96.1% |
| Taxes | 450/3 | €4,879 | €190 | -€4,689 | -96.1% |
| Other amounts payable | 47/48 | €165,773 | €167,059 | +€1,286 | +0.8% |
| Accrued charges and deferred income | 492/3 | €9,404 | €0 | -€9,404 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,785 | €35,821 | +€36 | +0.1% |
| Other operating charges | 640/8 | €2,366 | €9,789 | +€7,423 | +314% |
| Gross operating margin | 9900 | €28,062 | €44,431 | +€16,369 | +58.3% |
| Operating profit (loss) | 9901 | -€10,090 | -€1,180 | +€8,910 | +88.3% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €13,572 | €168 | -€13,403 | -98.8% |
| Recurring financial charges | 65 | €13,572 | €168 | -€13,403 | -98.8% |
| Profit (loss) for the period before taxes | 9903 | -€23,661 | -€1,348 | +€22,314 | +94.3% |
| Income taxes | 67/77 | €211 | €190 | -€21 | -9.8% |
| Profit (loss) for the period | 9904 | -€23,872 | -€1,538 | +€22,334 | +93.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€23,872 | -€1,538 | +€22,334 | +93.6% |
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.