MF UNIVERS: 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 UNIVERS
Largest movements
- Receivables within one year +€124,037
up €124,037 (+532%), from €23,318 to €147,355
of which Other amounts receivable: +€125,446
- Cash -€61,468
down €61,468 (-28.3%), from €217,304 to €155,836
mainly Receivables within one year (-€124,037) and Investment in fixed assets (net) (-€7,185)
- Deferred charges and accrued income -€5,005
down €5,005 (-97.6%), from €5,127 to €122
- Reserves +€33,483
up €33,483 (+13.0%), from €257,517 to €291,000
of which Distributable reserves: +€33,483
- Trade debts +€26,950
up €26,950 (+238%), from €11,305 to €38,255
- Tax, wage and social debts -€6,377
down €6,377 (-27.6%), from €23,070 to €16,693
of which Taxes: -€6,629
- Gross operating margin -€84,902
down €84,902 (-53.9%), from €157,390 to €72,488
- Taxes -€8,363
down €8,363 (-26.3%), from €31,827 to €23,464
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 | €295,391 | €349,448 | +€54,057 | +18.3% |
| Formation expenses | 20 | €148 | - | -€148 | |
| Fixed assets | 21/28 | €49,494 | €46,135 | -€3,359 | -6.8% |
| Intangible fixed assets | 21 | €794 | €321 | -€472 | -59.5% |
| Tangible fixed assets | 22/27 | €48,700 | €45,813 | -€2,887 | -5.9% |
| Plant, machinery and equipment | 23 | €3,259 | €2,575 | -€684 | -21.0% |
| Furniture and vehicles | 24 | €17,638 | €17,767 | +€129 | +0.7% |
| Other tangible fixed assets | 26 | €13,718 | €11,386 | -€2,332 | -17.0% |
| Assets under construction and advance payments | 27 | €14,085 | €14,085 | = | 0.0% |
| Current assets | 29/58 | €245,749 | €303,313 | +€57,564 | +23.4% |
| Amounts receivable within one year | 40/41 | €23,318 | €147,355 | +€124,037 | +532% |
| Trade receivables | 40 | €19,635 | €18,227 | -€1,408 | -7.2% |
| Other amounts receivable | 41 | €3,683 | €129,128 | +€125,446 | +3,406% |
| Cash at bank and in hand | 54/58 | €217,304 | €155,836 | -€61,468 | -28.3% |
| Deferred charges and accrued income | 490/1 | €5,127 | €122 | -€5,005 | -97.6% |
| Total equity and liabilities | 10/49 | €295,391 | €349,448 | +€54,057 | +18.3% |
| Equity | 10/15 | €261,017 | €294,500 | +€33,483 | +12.8% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Reserves | 13 | €257,517 | €291,000 | +€33,483 | +13.0% |
| Tax-exempt reserves | 132 | €42,100 | €42,100 | = | 0.0% |
| Distributable reserves | 133 | €215,417 | €248,900 | +€33,483 | +15.5% |
| Amounts payable | 17/49 | €34,374 | €54,948 | +€20,574 | +59.9% |
| Amounts payable within one year | 42/48 | €34,374 | €54,948 | +€20,574 | +59.9% |
| Trade debts | 44 | €11,305 | €38,255 | +€26,950 | +238% |
| Suppliers | 440/4 | €11,305 | €38,255 | +€26,950 | +238% |
| Taxes, remuneration and social security | 45 | €23,070 | €16,693 | -€6,377 | -27.6% |
| Taxes | 450/3 | €20,472 | €13,843 | -€6,629 | -32.4% |
| Remuneration and social security | 454/9 | €2,598 | €2,850 | +€252 | +9.7% |
| Non-recurring operating income | 76A | - | €73 | +€73 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,028 | €10,693 | -€335 | -3.0% |
| Other operating charges | 640/8 | €3,920 | €4,744 | +€824 | +21.0% |
| Gross operating margin | 9900 | €157,390 | €72,488 | -€84,902 | -53.9% |
| Operating profit (loss) | 9901 | €142,443 | €57,051 | -€85,392 | -59.9% |
| Financial income | 75/76B | €0 | €32 | +€32 | +319,900% |
| Recurring financial income | 75 | €0 | €32 | +€32 | +319,900% |
| Financial charges | 65/66B | €85 | €136 | +€52 | +61.0% |
| Recurring financial charges | 65 | €85 | €136 | +€52 | +61.0% |
| Profit (loss) for the period before taxes | 9903 | €142,358 | €56,947 | -€85,411 | -60.0% |
| Income taxes | 67/77 | €31,827 | €23,464 | -€8,363 | -26.3% |
| Profit (loss) for the period | 9904 | €110,532 | €33,483 | -€77,048 | -69.7% |
| Transfer to tax-exempt reserves | 689 | €42,100 | - | -€42,100 | |
| Profit (loss) for the period to be appropriated | 9905 | €68,432 | €33,483 | -€34,948 | -51.1% |
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 16 October 2026 via checked.be.