MFKW: 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.
MFKW
Largest movements
- Receivables within one year -€210,023
down €210,023 (-38.8%), from €541,071 to €331,048
- Cash +€13,527
up €13,527 (+97.3%), from €13,906 to €27,433
mainly Net result for the year (+€669,377) and Receivables within one year (+€210,023)
- Tangible fixed assets -€11,073
down €11,073 (-57.8%), from €19,169 to €8,096
- Other debts -€213,096
down €213,096 (-38.5%), from €553,096 to €340,000
- Gross operating margin -€194,902
down €194,902 (-17.8%), from €1.1m to €900,537
- Taxes -€48,998
down €48,998 (-18.4%), from €266,038 to €217,040
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 | €581,505 | €374,130 | -€207,375 | -35.7% |
| Fixed assets | 21/28 | €19,169 | €8,096 | -€11,073 | -57.8% |
| Tangible fixed assets | 22/27 | €19,169 | €8,096 | -€11,073 | -57.8% |
| Furniture and vehicles | 24 | €19,169 | €8,096 | -€11,073 | -57.8% |
| Current assets | 29/58 | €562,336 | €366,034 | -€196,302 | -34.9% |
| Amounts receivable within one year | 40/41 | €541,071 | €331,048 | -€210,023 | -38.8% |
| Trade receivables | 40 | €541,071 | €331,048 | -€210,023 | -38.8% |
| Cash at bank and in hand | 54/58 | €13,906 | €27,433 | +€13,527 | +97.3% |
| Deferred charges and accrued income | 490/1 | €7,359 | €7,553 | +€194 | +2.6% |
| Total equity and liabilities | 10/49 | €581,505 | €374,130 | -€207,375 | -35.7% |
| Equity | 10/15 | €5,000 | €6,377 | +€1,377 | +27.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | - | €1,377 | +€1,377 | |
| Distributable reserves | 133 | - | €1,377 | +€1,377 | |
| Amounts payable | 17/49 | €576,505 | €367,753 | -€208,752 | -36.2% |
| Amounts payable within one year | 42/48 | €564,505 | €355,753 | -€208,752 | -37.0% |
| Trade debts | 44 | €138 | €1,027 | +€889 | +644% |
| Suppliers | 440/4 | €138 | €1,027 | +€889 | +644% |
| Taxes, remuneration and social security | 45 | €11,272 | €14,726 | +€3,454 | +30.6% |
| Taxes | 450/3 | €11,272 | €14,726 | +€3,454 | +30.6% |
| Other amounts payable | 47/48 | €553,096 | €340,000 | -€213,096 | -38.5% |
| Accrued charges and deferred income | 492/3 | €12,000 | €12,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,759 | €13,129 | +€370 | +2.9% |
| Other operating charges | 640/8 | €708 | €1,022 | +€314 | +44.3% |
| Gross operating margin | 9900 | €1,095,438 | €900,537 | -€194,902 | -17.8% |
| Operating profit (loss) | 9901 | €1,081,971 | €886,385 | -€195,586 | -18.1% |
| Financial income | 75/76B | €261 | €139 | -€122 | -46.8% |
| Recurring financial income | 75 | €261 | €139 | -€122 | -46.8% |
| Financial charges | 65/66B | €98 | €107 | +€9 | +9.1% |
| Recurring financial charges | 65 | €98 | €107 | +€9 | +9.1% |
| Profit (loss) for the period before taxes | 9903 | €1,082,134 | €886,417 | -€195,717 | -18.1% |
| Income taxes | 67/77 | €266,038 | €217,040 | -€48,998 | -18.4% |
| Profit (loss) for the period | 9904 | €816,096 | €669,377 | -€146,719 | -18.0% |
| Profit (loss) for the period to be appropriated | 9905 | €816,096 | €669,377 | -€146,719 | -18.0% |
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 31 October 2026 via checked.be.