MF GRONDWERKEN: 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 GRONDWERKEN
Largest movements
- Receivables within one year +€63,724
up €63,724 (+34.9%), from €182,726 to €246,450
of which Other amounts receivable: +€65,673
- Tangible fixed assets +€15,775
up €15,775 (+57.2%), from €27,583 to €43,358
of which Other tangible fixed assets: +€16,720
- Cash +€10,826
up €10,826 (+44.3%), from €24,435 to €35,261
mainly Net result for the year (+€99,884) and Depreciation (+€9,397)
- Reserves +€80,000
up €80,000 (+70.2%), from €114,000 to €194,000
- Profit (loss) carried forward +€19,884
up €19,884 (+101%), from €19,750 to €39,634
- Debts after one year -€5,170
down €5,170 (-38.9%), from €13,280 to €8,110
- Trade debts -€3,724
down €3,724 (-11.0%), from €33,865 to €30,140
- Staff costs -€32,719
down €32,719 (-22.0%), from €149,059 to €116,340
- Gross operating margin -€31,558
down €31,558 (-10.5%), from €301,623 to €270,065
- Other operating charges -€9,463
down €9,463 (-68.8%), from €13,762 to €4,300
- Depreciation +€7,429
up €7,429 (+377%), from €1,969 to €9,397
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 | €234,744 | €325,069 | +€90,325 | +38.5% |
| Fixed assets | 21/28 | €27,583 | €43,358 | +€15,775 | +57.2% |
| Tangible fixed assets | 22/27 | €27,583 | €43,358 | +€15,775 | +57.2% |
| Furniture and vehicles | 24 | €1,674 | €7,547 | +€5,873 | +351% |
| Leasing and similar rights | 25 | €25,909 | €19,091 | -€6,818 | -26.3% |
| Other tangible fixed assets | 26 | - | €16,720 | +€16,720 | |
| Current assets | 29/58 | €207,161 | €281,711 | +€74,550 | +36.0% |
| Amounts receivable within one year | 40/41 | €182,726 | €246,450 | +€63,724 | +34.9% |
| Trade receivables | 40 | €47,569 | €45,620 | -€1,949 | -4.1% |
| Other amounts receivable | 41 | €135,158 | €200,830 | +€65,673 | +48.6% |
| Cash at bank and in hand | 54/58 | €24,435 | €35,261 | +€10,826 | +44.3% |
| Total equity and liabilities | 10/49 | €234,744 | €325,069 | +€90,325 | +38.5% |
| Equity | 10/15 | €146,250 | €246,134 | +€99,884 | +68.3% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €114,000 | €194,000 | +€80,000 | +70.2% |
| Distributable reserves | 133 | €114,000 | €194,000 | +€80,000 | +70.2% |
| Profit (loss) carried forward | 14 | €19,750 | €39,634 | +€19,884 | +101% |
| Amounts payable | 17/49 | €88,494 | €78,935 | -€9,559 | -10.8% |
| Amounts payable after more than one year | 17 | €13,280 | €8,110 | -€5,170 | -38.9% |
| Financial debts | 170/4 | €13,280 | €8,110 | -€5,170 | -38.9% |
| Amounts payable within one year | 42/48 | €75,214 | €70,825 | -€4,389 | -5.8% |
| Current portion of amounts payable after more than one year | 42 | €4,977 | €5,170 | +€193 | +3.9% |
| Trade debts | 44 | €33,865 | €30,140 | -€3,724 | -11.0% |
| Suppliers | 440/4 | €33,865 | €30,140 | -€3,724 | -11.0% |
| Taxes, remuneration and social security | 45 | €36,372 | €35,514 | -€858 | -2.4% |
| Taxes | 450/3 | €28,415 | €31,800 | +€3,385 | +11.9% |
| Remuneration and social security | 454/9 | €7,957 | €3,714 | -€4,243 | -53.3% |
| Remuneration, social security and pensions | 62 | €149,059 | €116,340 | -€32,719 | -22.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,969 | €9,397 | +€7,429 | +377% |
| Other operating charges | 640/8 | €13,762 | €4,300 | -€9,463 | -68.8% |
| Non-recurring operating charges | 66A | €14,350 | - | -€14,350 | |
| Gross operating margin | 9900 | €301,623 | €270,065 | -€31,558 | -10.5% |
| Operating profit (loss) | 9901 | €122,483 | €140,028 | +€17,545 | +14.3% |
| Financial income | 75/76B | €5,510 | €8,500 | +€2,990 | +54.3% |
| Recurring financial income | 75 | €5,510 | €8,500 | +€2,990 | +54.3% |
| Financial charges | 65/66B | €2,062 | €1,844 | -€218 | -10.6% |
| Recurring financial charges | 65 | €2,062 | €1,844 | -€218 | -10.6% |
| Profit (loss) for the period before taxes | 9903 | €125,930 | €146,683 | +€20,753 | +16.5% |
| Income taxes | 67/77 | €43,812 | €46,799 | +€2,987 | +6.8% |
| Profit (loss) for the period | 9904 | €82,118 | €99,884 | +€17,766 | +21.6% |
| Profit (loss) for the period to be appropriated | 9905 | €82,118 | €99,884 | +€17,766 | +21.6% |
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 17 October 2026 via checked.be.