MF2O: 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.
MF2O
Largest movements
- Cash +€5,589
up €5,589 (+18.3%), from €30,562 to €36,151
mainly Net result for the year (+€10,108) and Tax, wage and social debts (+€4,710)
- Tangible fixed assets -€1,071
down €1,071 (-32.9%), from €3,258 to €2,187
of which Furniture and vehicles: -€928
- Receivables within one year +€833
up €833 (+10.3%), from €8,060 to €8,894
- Profit (loss) carried forward +€10,108
up €10,108 (+35.6%), from -€28,387 to -€18,279
- Other debts -€9,475
down €9,475 (-16.7%), from €56,571 to €47,096
- Tax, wage and social debts +€4,710
up €4,710 (+75.2%), from €6,263 to €10,973
- Taxes +€4,538
up €4,538 (+1503.2%), from €302 to €4,840
- Gross operating margin -€3,940
down €3,940 (-18.5%), from €21,293 to €17,353
- Staff costs -€229
no longer reported in 2025 (was €229)
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 | €43,201 | €48,594 | +€5,394 | +12.5% |
| Fixed assets | 21/28 | €3,258 | €2,187 | -€1,071 | -32.9% |
| Tangible fixed assets | 22/27 | €3,258 | €2,187 | -€1,071 | -32.9% |
| Plant, machinery and equipment | 23 | €652 | €509 | -€143 | -21.9% |
| Furniture and vehicles | 24 | €2,606 | €1,678 | -€928 | -35.6% |
| Current assets | 29/58 | €39,943 | €46,408 | +€6,464 | +16.2% |
| Amounts receivable within one year | 40/41 | €8,060 | €8,894 | +€833 | +10.3% |
| Trade receivables | 40 | €8,060 | €8,894 | +€833 | +10.3% |
| Cash at bank and in hand | 54/58 | €30,562 | €36,151 | +€5,589 | +18.3% |
| Deferred charges and accrued income | 490/1 | €1,320 | €1,363 | +€42 | +3.2% |
| Total equity and liabilities | 10/49 | €43,201 | €48,594 | +€5,394 | +12.5% |
| Equity | 10/15 | -€20,327 | -€10,219 | +€10,108 | +49.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€28,387 | -€18,279 | +€10,108 | +35.6% |
| Amounts payable | 17/49 | €63,528 | €58,813 | -€4,715 | -7.4% |
| Amounts payable within one year | 42/48 | €63,528 | €58,813 | -€4,715 | -7.4% |
| Trade debts | 44 | €694 | €744 | +€50 | +7.2% |
| Suppliers | 440/4 | €694 | €744 | +€50 | +7.2% |
| Taxes, remuneration and social security | 45 | €6,263 | €10,973 | +€4,710 | +75.2% |
| Taxes | 450/3 | €6,263 | €10,973 | +€4,710 | +75.2% |
| Other amounts payable | 47/48 | €56,571 | €47,096 | -€9,475 | -16.7% |
| Remuneration, social security and pensions | 62 | €229 | - | -€229 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,698 | €1,592 | -€106 | -6.3% |
| Other operating charges | 640/8 | €872 | €698 | -€174 | -20.0% |
| Gross operating margin | 9900 | €21,293 | €17,353 | -€3,940 | -18.5% |
| Operating profit (loss) | 9901 | €18,493 | €15,063 | -€3,430 | -18.5% |
| Financial income | 75/76B | €30 | €111 | +€81 | +274.9% |
| Recurring financial income | 75 | €30 | €111 | +€81 | +274.9% |
| Financial charges | 65/66B | €162 | €226 | +€64 | +39.5% |
| Recurring financial charges | 65 | €162 | €226 | +€64 | +39.5% |
| Profit (loss) for the period before taxes | 9903 | €18,361 | €14,948 | -€3,413 | -18.6% |
| Income taxes | 67/77 | €302 | €4,840 | +€4,538 | +1503.2% |
| Profit (loss) for the period | 9904 | €18,059 | €10,108 | -€7,951 | -44.0% |
| Profit (loss) for the period to be appropriated | 9905 | €18,059 | €10,108 | -€7,951 | -44.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.