MFINISH: 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.
MFINISH
Largest movements
- Receivables within one year +€102,100
up €102,100 (+171%), from €59,739 to €161,839
of which Trade receivables: +€102,100
- Financial fixed assets +€64,000
new in 2025: €64,000
- Cash -€58,491
down €58,491 (-88.4%), from €66,135 to €7,644
mainly Receivables within one year (-€102,100) and Investment in fixed assets (net) (-€64,657)
- Tangible fixed assets -€2,591
down €2,591 (-25.3%), from €10,226 to €7,636
of which Furniture and vehicles: -€2,376
- Trade debts +€103,719
up €103,719 (+195%), from €53,275 to €156,993
- Tax, wage and social debts -€17,391
down €17,391 (-47.2%), from €36,851 to €19,460
- Other debts +€11,441
up €11,441 (+679%), from €1,684 to €13,125
- Reserves +€5,254
up €5,254 (+9.7%), from €54,076 to €59,329
- Gross operating margin -€50,161
down €50,161 (-74.9%), from €66,984 to €16,822
- Taxes -€14,044
down €14,044 (-88.8%), from €15,815 to €1,771
- Write-downs +€5,872
new in 2025: €5,872
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 | €150,885 | €253,908 | +€103,023 | +68.3% |
| Fixed assets | 21/28 | €10,226 | €71,636 | +€61,409 | +601% |
| Tangible fixed assets | 22/27 | €10,226 | €7,636 | -€2,591 | -25.3% |
| Plant, machinery and equipment | 23 | €2,670 | €2,455 | -€215 | -8.0% |
| Furniture and vehicles | 24 | €7,557 | €5,181 | -€2,376 | -31.4% |
| Financial fixed assets | 28 | - | €64,000 | +€64,000 | |
| Current assets | 29/58 | €140,659 | €182,272 | +€41,613 | +29.6% |
| Stocks and contracts in progress | 3 | €14,685 | €12,685 | -€2,000 | -13.6% |
| Stocks | 30/36 | €14,685 | €12,685 | -€2,000 | -13.6% |
| Amounts receivable within one year | 40/41 | €59,739 | €161,839 | +€102,100 | +171% |
| Trade receivables | 40 | €59,739 | €161,839 | +€102,100 | +171% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €66,135 | €7,644 | -€58,491 | -88.4% |
| Deferred charges and accrued income | 490/1 | €100 | €105 | +€5 | +4.8% |
| Total equity and liabilities | 10/49 | €150,885 | €253,908 | +€103,023 | +68.3% |
| Equity | 10/15 | €59,076 | €64,329 | +€5,254 | +8.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €54,076 | €59,329 | +€5,254 | +9.7% |
| Distributable reserves | 133 | €54,076 | €59,329 | +€5,254 | +9.7% |
| Amounts payable | 17/49 | €91,809 | €189,578 | +€97,769 | +106% |
| Amounts payable within one year | 42/48 | €91,809 | €189,578 | +€97,769 | +106% |
| Trade debts | 44 | €53,275 | €156,993 | +€103,719 | +195% |
| Suppliers | 440/4 | €53,275 | €156,993 | +€103,719 | +195% |
| Taxes, remuneration and social security | 45 | €36,851 | €19,460 | -€17,391 | -47.2% |
| Taxes | 450/3 | €36,851 | €19,460 | -€17,391 | -47.2% |
| Other amounts payable | 47/48 | €1,684 | €13,125 | +€11,441 | +679% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,786 | €3,248 | +€462 | +16.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €5,872 | +€5,872 | |
| Other operating charges | 640/8 | €898 | €324 | -€574 | -63.9% |
| Gross operating margin | 9900 | €66,984 | €16,822 | -€50,161 | -74.9% |
| Operating profit (loss) | 9901 | €63,299 | €7,378 | -€55,921 | -88.3% |
| Financial income | 75/76B | €0 | €0 | +€0 | +300% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +300% |
| Financial charges | 65/66B | €75 | €353 | +€278 | +370% |
| Recurring financial charges | 65 | €75 | €353 | +€278 | +370% |
| Profit (loss) for the period before taxes | 9903 | €63,224 | €7,025 | -€56,199 | -88.9% |
| Income taxes | 67/77 | €15,815 | €1,771 | -€14,044 | -88.8% |
| Profit (loss) for the period | 9904 | €47,409 | €5,254 | -€42,155 | -88.9% |
| Profit (loss) for the period to be appropriated | 9905 | €47,409 | €5,254 | -€42,155 | -88.9% |
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 18 October 2026 via checked.be.