MFL ENERGY: 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.
MFL ENERGY
Largest movements
- Stocks and contracts +€1.3m
up €1.3m (+412%), from €309,514 to €1.6m
- Cash -€344,896
down €344,896 (-90.2%), from €382,412 to €37,516
mainly Stocks and contracts (-€1.3m) and Accrued charges and deferred income (-€656,237)
- Receivables within one year -€164,217
down €164,217 (-28.9%), from €567,280 to €403,064
of which Trade receivables: -€162,638
- Tangible fixed assets -€59,783
down €59,783 (-11.4%), from €523,809 to €464,026
of which Other tangible fixed assets: -€60,975
- Other debts +€945,558
up €945,558 (+925%), from €102,180 to €1.0m
- Accrued charges and deferred income -€656,237
down €656,237 (-98.0%), from €669,737 to €13,500
- Debts after one year +€309,000
new in 2025: €309,000
- Reserves +€81,206
up €81,206 (+10.3%), from €787,659 to €868,865
of which Distributable reserves: +€81,206
- Trade debts +€48,023
up €48,023 (+43.3%), from €110,967 to €158,990
- Gross operating margin -€55,319
down €55,319 (-11.9%), from €464,352 to €409,033
- Taxes -€20,920
down €20,920 (-36.3%), from €57,571 to €36,651
- Other operating charges +€8,812
up €8,812 (+25.8%), from €34,186 to €42,998
- Staff costs -€8,111
down €8,111 (-4.5%), from €179,166 to €171,055
- Financial charges +€7,179
up €7,179 (+97.7%), from €7,351 to €14,529
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 | €1,820,231 | €2,532,055 | +€711,824 | +39.1% |
| Fixed assets | 21/28 | €537,469 | €477,686 | -€59,783 | -11.1% |
| Tangible fixed assets | 22/27 | €523,809 | €464,026 | -€59,783 | -11.4% |
| Plant, machinery and equipment | 23 | €3,032 | €1,647 | -€1,385 | -45.7% |
| Furniture and vehicles | 24 | €2,860 | €5,437 | +€2,577 | +90.1% |
| Other tangible fixed assets | 26 | €517,918 | €456,943 | -€60,975 | -11.8% |
| Financial fixed assets | 28 | €13,660 | €13,660 | = | 0.0% |
| Current assets | 29/58 | €1,282,761 | €2,054,368 | +€771,607 | +60.2% |
| Stocks and contracts in progress | 3 | €309,514 | €1,586,134 | +€1.3m | +412% |
| Stocks | 30/36 | €309,514 | €1,586,134 | +€1.3m | +412% |
| Amounts receivable within one year | 40/41 | €567,280 | €403,064 | -€164,217 | -28.9% |
| Trade receivables | 40 | €545,155 | €382,517 | -€162,638 | -29.8% |
| Other amounts receivable | 41 | €22,125 | €20,546 | -€1,579 | -7.1% |
| Current investments | 50/53 | €124 | €124 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €382,412 | €37,516 | -€344,896 | -90.2% |
| Deferred charges and accrued income | 490/1 | €23,431 | €27,530 | +€4,099 | +17.5% |
| Total equity and liabilities | 10/49 | €1,820,231 | €2,532,055 | +€711,824 | +39.1% |
| Equity | 10/15 | €894,172 | €975,378 | +€81,206 | +9.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €787,659 | €868,865 | +€81,206 | +10.3% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €768,909 | €850,115 | +€81,206 | +10.6% |
| Profit (loss) carried forward | 14 | €87,913 | €87,913 | -€0 | 0.0% |
| Amounts payable | 17/49 | €926,058 | €1,556,676 | +€630,618 | +68.1% |
| Amounts payable after more than one year | 17 | - | €309,000 | +€309,000 | |
| Financial debts | 170/4 | - | €309,000 | +€309,000 | |
| Amounts payable within one year | 42/48 | €256,321 | €1,234,176 | +€977,855 | +381% |
| Trade debts | 44 | €110,967 | €158,990 | +€48,023 | +43.3% |
| Suppliers | 440/4 | €110,967 | €158,990 | +€48,023 | +43.3% |
| Advances received on contracts in progress | 46 | €20,570 | - | -€20,570 | |
| Taxes, remuneration and social security | 45 | €22,604 | €27,448 | +€4,843 | +21.4% |
| Taxes | 450/3 | €16,318 | €19,602 | +€3,284 | +20.1% |
| Remuneration and social security | 454/9 | €6,287 | €7,846 | +€1,560 | +24.8% |
| Other amounts payable | 47/48 | €102,180 | €1,047,738 | +€945,558 | +925% |
| Accrued charges and deferred income | 492/3 | €669,737 | €13,500 | -€656,237 | -98.0% |
| Remuneration, social security and pensions | 62 | €179,166 | €171,055 | -€8,111 | -4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,982 | €64,303 | -€3,679 | -5.4% |
| Other operating charges | 640/8 | €34,186 | €42,998 | +€8,812 | +25.8% |
| Gross operating margin | 9900 | €464,352 | €409,033 | -€55,319 | -11.9% |
| Operating profit (loss) | 9901 | €183,018 | €130,677 | -€52,341 | -28.6% |
| Financial income | 75/76B | €4,539 | €1,709 | -€2,830 | -62.3% |
| Recurring financial income | 75 | €4,539 | €1,709 | -€2,830 | -62.3% |
| Financial charges | 65/66B | €7,351 | €14,529 | +€7,179 | +97.7% |
| Recurring financial charges | 65 | €7,351 | €14,529 | +€7,179 | +97.7% |
| Profit (loss) for the period before taxes | 9903 | €180,207 | €117,858 | -€62,349 | -34.6% |
| Income taxes | 67/77 | €57,571 | €36,651 | -€20,920 | -36.3% |
| Profit (loss) for the period | 9904 | €122,635 | €81,206 | -€41,429 | -33.8% |
| Profit (loss) for the period to be appropriated | 9905 | €122,635 | €81,206 | -€41,429 | -33.8% |
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 1 November 2026 via checked.be.