MFKI: 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.
MFKI
Largest movements
- Cash -€42,289
down €42,289 (-50.6%), from €83,621 to €41,332
mainly Investment in fixed assets (net) (-€64,821) and Trade debts (-€41,959)
- Tangible fixed assets +€34,503
up €34,503 (+22.5%), from €153,182 to €187,684
of which Land and buildings: +€45,212
- Receivables within one year -€15,208
down €15,208 (-28.7%), from €53,075 to €37,867
of which Other amounts receivable: -€10,854
- Stocks and contracts -€5,069
down €5,069 (-47.4%), from €10,701 to €5,632
of which Contracts in progress: -€7,500
- Intangible fixed assets +€3,132
new in 2025: €3,132
- Trade debts -€41,959
down €41,959 (-65.9%), from €63,691 to €21,732
- Reserves +€21,956
up €21,956 (+39.5%), from €55,593 to €77,549
- Tax, wage and social debts -€17,175
down €17,175 (-94.8%), from €18,120 to €945
- Debts after one year +€12,385
up €12,385 (+10.0%), from €123,326 to €135,712
- Gross operating margin -€19,808
down €19,808 (-23.0%), from €86,093 to €66,285
- Depreciation +€15,324
up €15,324 (+129.2%), from €11,863 to €27,186
- Taxes -€7,889
down €7,889 (-47.0%), from €16,781 to €8,891
- Financial charges +€4,659
up €4,659 (+340.1%), from €1,370 to €6,028
- Other operating charges +€2,104
up €2,104 (+327.7%), from €642 to €2,745
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 | €302,060 | €278,133 | -€23,927 | -7.9% |
| Fixed assets | 21/28 | €153,182 | €190,817 | +€37,635 | +24.6% |
| Intangible fixed assets | 21 | - | €3,132 | +€3,132 | |
| Tangible fixed assets | 22/27 | €153,182 | €187,684 | +€34,503 | +22.5% |
| Land and buildings | 22 | €92,329 | €137,541 | +€45,212 | +49.0% |
| Plant, machinery and equipment | 23 | €4,969 | €6,464 | +€1,494 | +30.1% |
| Furniture and vehicles | 24 | €55,883 | €43,680 | -€12,203 | -21.8% |
| Current assets | 29/58 | €148,878 | €87,316 | -€61,562 | -41.4% |
| Stocks and contracts in progress | 3 | €10,701 | €5,632 | -€5,069 | -47.4% |
| Stocks | 30/36 | €3,201 | €5,632 | +€2,431 | +75.9% |
| Contracts in progress | 37 | €7,500 | €0 | -€7,500 | -100.0% |
| Amounts receivable within one year | 40/41 | €53,075 | €37,867 | -€15,208 | -28.7% |
| Trade receivables | 40 | €32,023 | €27,670 | -€4,353 | -13.6% |
| Other amounts receivable | 41 | €21,051 | €10,197 | -€10,854 | -51.6% |
| Cash at bank and in hand | 54/58 | €83,621 | €41,332 | -€42,289 | -50.6% |
| Deferred charges and accrued income | 490/1 | €1,481 | €2,485 | +€1,004 | +67.8% |
| Total equity and liabilities | 10/49 | €302,060 | €278,133 | -€23,927 | -7.9% |
| Equity | 10/15 | €57,593 | €79,549 | +€21,956 | +38.1% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €55,593 | €77,549 | +€21,956 | +39.5% |
| Distributable reserves | 133 | €55,593 | €77,549 | +€21,956 | +39.5% |
| Amounts payable | 17/49 | €244,467 | €198,584 | -€45,883 | -18.8% |
| Amounts payable after more than one year | 17 | €123,326 | €135,712 | +€12,385 | +10.0% |
| Financial debts | 170/4 | €123,326 | €135,712 | +€12,385 | +10.0% |
| Amounts payable within one year | 42/48 | €121,140 | €62,872 | -€58,268 | -48.1% |
| Current portion of amounts payable after more than one year | 42 | €11,482 | €12,437 | +€955 | +8.3% |
| Trade debts | 44 | €63,691 | €21,732 | -€41,959 | -65.9% |
| Suppliers | 440/4 | €63,691 | €21,732 | -€41,959 | -65.9% |
| Advances received on contracts in progress | 46 | - | €1,648 | +€1,648 | |
| Taxes, remuneration and social security | 45 | €18,120 | €945 | -€17,175 | -94.8% |
| Taxes | 450/3 | €18,120 | €945 | -€17,175 | -94.8% |
| Other amounts payable | 47/48 | €27,848 | €26,110 | -€1,737 | -6.2% |
| Non-recurring operating income | 76A | €5,500 | - | -€5,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,863 | €27,186 | +€15,324 | +129.2% |
| Other operating charges | 640/8 | €642 | €2,745 | +€2,104 | +327.7% |
| Gross operating margin | 9900 | €86,093 | €66,285 | -€19,808 | -23.0% |
| Operating profit (loss) | 9901 | €73,589 | €36,353 | -€37,235 | -50.6% |
| Financial income | 75/76B | €154 | €523 | +€368 | +238.7% |
| Recurring financial income | 75 | €154 | €523 | +€368 | +238.7% |
| Financial charges | 65/66B | €1,370 | €6,028 | +€4,659 | +340.1% |
| Recurring financial charges | 65 | €1,370 | €6,028 | +€4,659 | +340.1% |
| Profit (loss) for the period before taxes | 9903 | €72,373 | €30,848 | -€41,526 | -57.4% |
| Income taxes | 67/77 | €16,781 | €8,891 | -€7,889 | -47.0% |
| Profit (loss) for the period | 9904 | €55,593 | €21,956 | -€33,636 | -60.5% |
| Profit (loss) for the period to be appropriated | 9905 | €55,593 | €21,956 | -€33,636 | -60.5% |
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 8 October 2026 via checked.be.