MFin: 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.
MFin
Largest movements
- Cash -€323,211
down €323,211 (-77.4%), from €417,790 to €94,579
mainly Other debts (-€476,744) and Contributions, distributions and other (-€200,000)
- Receivables after one year -€280,000
no longer reported in 2025 (was €280,000)
- Other debts -€476,744
down €476,744 (-56.1%), from €850,000 to €373,256
- Tax, wage and social debts -€121,943
down €121,943 (-78.0%), from €156,416 to €34,473
- Gross operating margin -€25,789
down €25,789 (-8.4%), from €305,842 to €280,053
- Taxes -€10,795
down €10,795 (-15.0%), from €72,111 to €61,316
- Financial income -€10,570
down €10,570 (-100.0%), from €10,570 to €0
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 | €1,156,543 | €543,718 | -€612,825 | -53.0% |
| Fixed assets | 21/28 | €298,152 | €296,645 | -€1,507 | -0.5% |
| Tangible fixed assets | 22/27 | €298,152 | €296,645 | -€1,507 | -0.5% |
| Land and buildings | 22 | €279,759 | €282,861 | +€3,102 | +1.1% |
| Plant, machinery and equipment | 23 | €2,884 | €2,230 | -€654 | -22.7% |
| Furniture and vehicles | 24 | €15,509 | €11,555 | -€3,954 | -25.5% |
| Current assets | 29/58 | €858,392 | €247,073 | -€611,319 | -71.2% |
| Amounts receivable after more than one year | 29 | €280,000 | - | -€280,000 | |
| Other amounts receivable | 291 | €280,000 | - | -€280,000 | |
| Amounts receivable within one year | 40/41 | €157,345 | €148,789 | -€8,556 | -5.4% |
| Trade receivables | 40 | €148,123 | €140,248 | -€7,875 | -5.3% |
| Other amounts receivable | 41 | €9,222 | €8,541 | -€681 | -7.4% |
| Cash at bank and in hand | 54/58 | €417,790 | €94,579 | -€323,211 | -77.4% |
| Deferred charges and accrued income | 490/1 | €3,257 | €3,705 | +€448 | +13.8% |
| Total equity and liabilities | 10/49 | €1,156,543 | €543,718 | -€612,825 | -53.0% |
| Equity | 10/15 | €44,369 | €38,703 | -€5,666 | -12.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €39,369 | €33,703 | -€5,666 | -14.4% |
| Amounts payable | 17/49 | €1,112,174 | €505,015 | -€607,159 | -54.6% |
| Amounts payable after more than one year | 17 | €96,821 | €88,076 | -€8,745 | -9.0% |
| Financial debts | 170/4 | €96,821 | €88,076 | -€8,745 | -9.0% |
| Amounts payable within one year | 42/48 | €1,015,065 | €416,648 | -€598,417 | -59.0% |
| Current portion of amounts payable after more than one year | 42 | €8,649 | €8,745 | +€96 | +1.1% |
| Trade debts | 44 | - | €174 | +€174 | |
| Suppliers | 440/4 | - | €174 | +€174 | |
| Taxes, remuneration and social security | 45 | €156,416 | €34,473 | -€121,943 | -78.0% |
| Taxes | 450/3 | €156,416 | €34,473 | -€121,943 | -78.0% |
| Other amounts payable | 47/48 | €850,000 | €373,256 | -€476,744 | -56.1% |
| Accrued charges and deferred income | 492/3 | €288 | €291 | +€2 | +0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,569 | €18,945 | +€2,376 | +14.3% |
| Other operating charges | 640/8 | €2,913 | €3,168 | +€255 | +8.8% |
| Gross operating margin | 9900 | €305,842 | €280,053 | -€25,789 | -8.4% |
| Operating profit (loss) | 9901 | €286,360 | €257,940 | -€28,420 | -9.9% |
| Financial income | 75/76B | €10,570 | €0 | -€10,570 | -100.0% |
| Recurring financial income | 75 | €10,570 | €0 | -€10,570 | -100.0% |
| Financial charges | 65/66B | €726 | €2,291 | +€1,564 | +215.4% |
| Recurring financial charges | 65 | €726 | €2,291 | +€1,564 | +215.4% |
| Profit (loss) for the period before taxes | 9903 | €296,204 | €255,650 | -€40,555 | -13.7% |
| Income taxes | 67/77 | €72,111 | €61,316 | -€10,795 | -15.0% |
| Profit (loss) for the period | 9904 | €224,093 | €194,334 | -€29,760 | -13.3% |
| Profit (loss) for the period to be appropriated | 9905 | €224,093 | €194,334 | -€29,760 | -13.3% |
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 3 October 2026 via checked.be.