MF Holding: 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.
MF Holding
Largest movements
- Stocks and contracts +€4,148
new in 2025: €4,148
- Cash -€3,259
down €3,259 (-63.5%), from €5,133 to €1,874
mainly Net result for the year (-€9,419) and Trade debts (-€5,615)
- Tangible fixed assets -€909
down €909 (-20.3%), from €4,478 to €3,569
- Tax, wage and social debts +€10,109
up €10,109 (+3483.4%), from €290 to €10,399
of which Remuneration and social security: +€10,000
- Profit (loss) carried forward -€9,419
down €9,419, from €518 to -€8,901
- Trade debts -€5,615
down €5,615 (-25.1%), from €22,356 to €16,741
- Other debts +€5,220
up €5,220 (+226.0%), from €2,310 to €7,530
- Turnover -€10,488
down €10,488 (-16.7%), from €62,939 to €52,451
- Gross operating margin -€8,954
down €8,954, from €1,402 to -€7,552
- Purchases and services +€3,192
up €3,192 (+5.2%), from €61,538 to €64,730
- Depreciation +€842
up €842 (+1261.6%), from €67 to €909
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €28,475 | €28,769 | +€295 | +1.0% |
| Fixed assets | 21/28 | €4,478 | €3,569 | -€909 | -20.3% |
| Tangible fixed assets | 22/27 | €4,478 | €3,569 | -€909 | -20.3% |
| Other tangible fixed assets | 26 | €4,478 | €3,569 | -€909 | -20.3% |
| Current assets | 29/58 | €23,996 | €25,200 | +€1,204 | +5.0% |
| Stocks and contracts in progress | 3 | - | €4,148 | +€4,148 | |
| Stocks | 30/36 | - | €4,148 | +€4,148 | |
| Amounts receivable within one year | 40/41 | €18,864 | €18,983 | +€119 | +0.6% |
| Trade receivables | 40 | €13,023 | €11,759 | -€1,264 | -9.7% |
| Other amounts receivable | 41 | €5,841 | €7,224 | +€1,383 | +23.7% |
| Cash at bank and in hand | 54/58 | €5,133 | €1,874 | -€3,259 | -63.5% |
| Deferred charges and accrued income | 490/1 | - | €196 | +€196 | |
| Total equity and liabilities | 10/49 | €28,475 | €28,769 | +€295 | +1.0% |
| Equity | 10/15 | €3,518 | -€5,901 | -€9,419 | |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €518 | -€8,901 | -€9,419 | |
| Amounts payable | 17/49 | €24,956 | €34,670 | +€9,714 | +38.9% |
| Amounts payable within one year | 42/48 | €24,956 | €34,670 | +€9,714 | +38.9% |
| Trade debts | 44 | €22,356 | €16,741 | -€5,615 | -25.1% |
| Suppliers | 440/4 | €22,356 | €16,741 | -€5,615 | -25.1% |
| Taxes, remuneration and social security | 45 | €290 | €10,399 | +€10,109 | +3483.4% |
| Taxes | 450/3 | €290 | €399 | +€109 | +37.5% |
| Remuneration and social security | 454/9 | - | €10,000 | +€10,000 | |
| Other amounts payable | 47/48 | €2,310 | €7,530 | +€5,220 | +226.0% |
| Turnover | 70 | €62,939 | €52,451 | -€10,488 | -16.7% |
| Goods, raw materials, services and sundry goods | 60/61 | €61,538 | €64,730 | +€3,192 | +5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67 | €909 | +€842 | +1261.6% |
| Other operating charges | 640/8 | €700 | €907 | +€207 | +29.6% |
| Gross operating margin | 9900 | €1,402 | -€7,552 | -€8,954 | |
| Operating profit (loss) | 9901 | €635 | -€9,368 | -€10,003 | |
| Financial income | 75/76B | €28 | - | -€28 | |
| Recurring financial income | 75 | €28 | - | -€28 | |
| Financial charges | 65/66B | €15 | €51 | +€36 | +232.6% |
| Recurring financial charges | 65 | €15 | €51 | +€36 | +232.6% |
| Profit (loss) for the period before taxes | 9903 | €648 | -€9,419 | -€10,067 | |
| Income taxes | 67/77 | €130 | - | -€130 | |
| Profit (loss) for the period | 9904 | €518 | -€9,419 | -€9,937 | |
| Profit (loss) for the period to be appropriated | 9905 | €518 | -€9,419 | -€9,937 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.