Mfinances: 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.
Mfinances
Largest movements
- Cash +€39,294
up €39,294 (+25.7%), from €152,858 to €192,153
mainly Depreciation (+€37,509) and Net result for the year (+€36,799)
- Tangible fixed assets -€24,917
down €24,917 (-3.9%), from €646,113 to €621,197
of which Land and buildings: -€22,505
- Profit (loss) carried forward +€36,799
up €36,799, from -€3,772 to €33,028
- Debts after one year -€34,230
down €34,230 (-6.4%), from €533,608 to €499,378
of which Financial debts: -€34,230
- Tax, wage and social debts +€13,994
up €13,994 (+70.9%), from €19,738 to €33,733
- Gross operating margin +€60,353
up €60,353 (+95.7%), from €63,075 to €123,428
- Taxes +€16,145
up €16,145 (+139.4%), from €11,584 to €27,729
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €813,846 | €829,490 | +€15,644 | +1.9% |
| Fixed assets | 21/28 | €646,113 | €621,197 | -€24,917 | -3.9% |
| Tangible fixed assets | 22/27 | €646,113 | €621,197 | -€24,917 | -3.9% |
| Land and buildings | 22 | €616,686 | €594,180 | -€22,505 | -3.6% |
| Plant, machinery and equipment | 23 | - | €1,108 | +€1,108 | |
| Furniture and vehicles | 24 | €7,392 | €2,606 | -€4,786 | -64.7% |
| Other tangible fixed assets | 26 | €22,035 | €23,303 | +€1,267 | +5.8% |
| Current assets | 29/58 | €167,733 | €208,293 | +€40,561 | +24.2% |
| Amounts receivable within one year | 40/41 | €12,533 | €11,667 | -€866 | -6.9% |
| Trade receivables | 40 | €12,485 | €11,398 | -€1,088 | -8.7% |
| Other amounts receivable | 41 | €48 | €269 | +€221 | +462.2% |
| Cash at bank and in hand | 54/58 | €152,858 | €192,153 | +€39,294 | +25.7% |
| Deferred charges and accrued income | 490/1 | €2,341 | €4,474 | +€2,133 | +91.1% |
| Total equity and liabilities | 10/49 | €813,846 | €829,490 | +€15,644 | +1.9% |
| Equity | 10/15 | €19,023 | €55,822 | +€36,799 | +193.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €4,194 | €4,194 | = | 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% |
| Tax-exempt reserves | 132 | €2,334 | €2,334 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,772 | €33,028 | +€36,799 | |
| Amounts payable | 17/49 | €794,823 | €773,668 | -€21,155 | -2.7% |
| Amounts payable after more than one year | 17 | €533,608 | €499,378 | -€34,230 | -6.4% |
| Financial debts | 170/4 | €530,508 | €496,278 | -€34,230 | -6.5% |
| Other amounts payable | 178/9 | €3,100 | €3,100 | = | 0.0% |
| Amounts payable within one year | 42/48 | €256,678 | €271,429 | +€14,751 | +5.7% |
| Financial debts | 43 | €33,205 | €34,230 | +€1,026 | +3.1% |
| Credit institutions | 430/8 | €33,205 | €34,230 | +€1,026 | +3.1% |
| Trade debts | 44 | €98,248 | €96,427 | -€1,821 | -1.9% |
| Suppliers | 440/4 | €98,248 | €96,427 | -€1,821 | -1.9% |
| Taxes, remuneration and social security | 45 | €19,738 | €33,733 | +€13,994 | +70.9% |
| Taxes | 450/3 | €19,738 | €33,733 | +€13,994 | +70.9% |
| Other amounts payable | 47/48 | €105,487 | €107,039 | +€1,552 | +1.5% |
| Accrued charges and deferred income | 492/3 | €4,537 | €2,860 | -€1,676 | -37.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,654 | €37,509 | +€855 | +2.3% |
| Other operating charges | 640/8 | €7,319 | €6,417 | -€902 | -12.3% |
| Gross operating margin | 9900 | €63,075 | €123,428 | +€60,353 | +95.7% |
| Operating profit (loss) | 9901 | €19,102 | €79,502 | +€60,400 | +316.2% |
| Financial income | 75/76B | €314 | €1,178 | +€864 | +275.2% |
| Recurring financial income | 75 | €314 | €1,178 | +€864 | +275.2% |
| Financial charges | 65/66B | €17,335 | €16,152 | -€1,183 | -6.8% |
| Recurring financial charges | 65 | €17,335 | €16,152 | -€1,183 | -6.8% |
| Profit (loss) for the period before taxes | 9903 | €2,081 | €64,528 | +€62,447 | +3000.9% |
| Income taxes | 67/77 | €11,584 | €27,729 | +€16,145 | +139.4% |
| Profit (loss) for the period | 9904 | -€9,503 | €36,799 | +€46,302 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,503 | €36,799 | +€46,302 |
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 6 October 2026 via checked.be.