MF5 CONCEPT: 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.
MF5 CONCEPT
Largest movements
- Stocks and contracts +€15,087
up €15,087 (+44.4%), from €33,987 to €49,074
- Receivables within one year +€7,141
up €7,141 (+57.1%), from €12,515 to €19,656
of which Trade receivables: +€4,137
- Cash +€5,574
up €5,574 (+15.6%), from €35,787 to €41,361
mainly Debts after one year (+€22,433) and Tax, wage and social debts (+€7,627)
- Tangible fixed assets +€5,546
up €5,546 (+429.1%), from €1,292 to €6,838
of which Land and buildings: +€6,060
- Financial fixed assets +€2,000
up €2,000 (+666.7%), from €300 to €2,300
- Debts after one year +€22,433
new in 2025: €22,433
- Tax, wage and social debts +€7,627
up €7,627 (+99.6%), from €7,658 to €15,285
of which Remuneration and social security: +€6,766
- Current portion of long-term debt +€4,746
new in 2025: €4,746
- Trade debts +€3,541
up €3,541 (+11.7%), from €30,193 to €33,734
- Other debts -€1,987
no longer reported in 2025 (was €1,987)
- Turnover +€67,922
up €67,922 (+2.6%), from €2.6m to €2.7m
- Purchases and services +€63,244
up €63,244 (+2.5%), from €2.6m to €2.6m
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 | €84,751 | €119,230 | +€34,478 | +40.7% |
| Fixed assets | 21/28 | €1,592 | €9,138 | +€7,546 | +473.9% |
| Tangible fixed assets | 22/27 | €1,292 | €6,838 | +€5,546 | +429.1% |
| Land and buildings | 22 | - | €6,060 | +€6,060 | |
| Plant, machinery and equipment | 23 | €248 | €141 | -€107 | -43.3% |
| Furniture and vehicles | 24 | €1,044 | €637 | -€407 | -38.9% |
| Financial fixed assets | 28 | €300 | €2,300 | +€2,000 | +666.7% |
| Current assets | 29/58 | €83,159 | €110,092 | +€26,933 | +32.4% |
| Stocks and contracts in progress | 3 | €33,987 | €49,074 | +€15,087 | +44.4% |
| Stocks | 30/36 | €33,987 | €49,074 | +€15,087 | +44.4% |
| Amounts receivable within one year | 40/41 | €12,515 | €19,656 | +€7,141 | +57.1% |
| Trade receivables | 40 | €9,397 | €13,534 | +€4,137 | +44.0% |
| Other amounts receivable | 41 | €3,118 | €6,122 | +€3,004 | +96.3% |
| Cash at bank and in hand | 54/58 | €35,787 | €41,361 | +€5,574 | +15.6% |
| Deferred charges and accrued income | 490/1 | €869 | €0 | -€869 | -100.0% |
| Total equity and liabilities | 10/49 | €84,751 | €119,230 | +€34,478 | +40.7% |
| Equity | 10/15 | €44,914 | €43,032 | -€1,882 | -4.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 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% |
| Profit (loss) carried forward | 14 | €36,854 | €34,972 | -€1,882 | -5.1% |
| Amounts payable | 17/49 | €39,837 | €76,198 | +€36,361 | +91.3% |
| Amounts payable after more than one year | 17 | - | €22,433 | +€22,433 | |
| Financial debts | 170/4 | - | €22,433 | +€22,433 | |
| Amounts payable within one year | 42/48 | €39,837 | €53,765 | +€13,928 | +35.0% |
| Current portion of amounts payable after more than one year | 42 | - | €4,746 | +€4,746 | |
| Trade debts | 44 | €30,193 | €33,734 | +€3,541 | +11.7% |
| Suppliers | 440/4 | €30,193 | €33,734 | +€3,541 | +11.7% |
| Taxes, remuneration and social security | 45 | €7,658 | €15,285 | +€7,627 | +99.6% |
| Taxes | 450/3 | €3,633 | €4,494 | +€861 | +23.7% |
| Remuneration and social security | 454/9 | €4,025 | €10,791 | +€6,766 | +168.1% |
| Other amounts payable | 47/48 | €1,987 | - | -€1,987 | |
| Turnover | 70 | €2,636,915 | €2,704,837 | +€67,922 | +2.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €2,564,210 | €2,627,454 | +€63,244 | +2.5% |
| Remuneration, social security and pensions | 62 | €57,156 | €73,711 | +€16,555 | +29.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €303 | €706 | +€403 | +132.8% |
| Other operating charges | 640/8 | €2,304 | €3,033 | +€728 | +31.6% |
| Gross operating margin | 9900 | €72,704 | €77,382 | +€4,678 | +6.4% |
| Operating profit (loss) | 9901 | €12,940 | -€68 | -€13,008 | |
| Financial income | 75/76B | - | €10 | +€10 | |
| Recurring financial income | 75 | - | €10 | +€10 | |
| Financial charges | 65/66B | €587 | €915 | +€328 | +55.9% |
| Recurring financial charges | 65 | €587 | €915 | +€328 | +55.9% |
| Profit (loss) for the period before taxes | 9903 | €12,353 | -€973 | -€13,327 | |
| Income taxes | 67/77 | €3,585 | €909 | -€2,676 | -74.6% |
| Profit (loss) for the period | 9904 | €8,769 | -€1,882 | -€10,651 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,769 | -€1,882 | -€10,651 |
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 7 October 2026 via checked.be.