MF LIENARD: 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 LIENARD
Largest movements
- Cash -€11,056
down €11,056 (-99.8%), from €11,077 to €21
mainly Receivables within one year (-€10,000) and Net result for the year (-€1,056)
- Receivables within one year +€10,000
up €10,000 (+92,678%), from €11 to €10,011
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin +€250
up €250 (+20.0%), from -€1,255 to -€1,005
- Financial income -€17
down €17 (-46.5%), from €36 to €19
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 | €186,802 | €185,745 | -€1,056 | -0.6% |
| Fixed assets | 21/28 | €175,714 | €175,714 | = | 0.0% |
| Tangible fixed assets | 22/27 | €175,714 | €175,714 | = | 0.0% |
| Land and buildings | 22 | €175,714 | €175,714 | = | 0.0% |
| Current assets | 29/58 | €11,088 | €10,031 | -€1,056 | -9.5% |
| Amounts receivable within one year | 40/41 | €11 | €10,011 | +€10,000 | +92,678% |
| Other amounts receivable | 41 | €11 | €10,011 | +€10,000 | +92,678% |
| Cash at bank and in hand | 54/58 | €11,077 | €21 | -€11,056 | -99.8% |
| Total equity and liabilities | 10/49 | €186,802 | €185,745 | -€1,056 | -0.6% |
| Equity | 10/15 | €183,749 | €182,692 | -€1,056 | -0.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €157,862 | €157,862 | = | 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% |
| Distributable reserves | 133 | €156,002 | €156,002 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,487 | €12,431 | -€1,056 | -7.8% |
| Amounts payable | 17/49 | €3,053 | €3,053 | = | 0.0% |
| Amounts payable within one year | 42/48 | €3,053 | €3,053 | = | 0.0% |
| Other amounts payable | 47/48 | €3,053 | €3,053 | = | 0.0% |
| Gross operating margin | 9900 | -€1,255 | -€1,005 | +€250 | +20.0% |
| Operating profit (loss) | 9901 | -€1,255 | -€1,005 | +€250 | +20.0% |
| Financial income | 75/76B | €36 | €19 | -€17 | -46.5% |
| Recurring financial income | 75 | €36 | €19 | -€17 | -46.5% |
| Financial charges | 65/66B | €74 | €65 | -€9 | -12.3% |
| Recurring financial charges | 65 | €74 | €65 | -€9 | -12.3% |
| Profit (loss) for the period before taxes | 9903 | -€1,293 | -€1,051 | +€243 | +18.8% |
| Income taxes | 67/77 | - | €6 | +€6 | |
| Profit (loss) for the period | 9904 | -€1,293 | -€1,056 | +€237 | +18.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,293 | -€1,056 | +€237 | +18.3% |
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 15 October 2026 via checked.be.