MFL Management: 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.
MFL Management
Largest movements
- Cash +€106,331
up €106,331 (+62.4%), from €170,538 to €276,869
mainly Net result for the year (+€288,980) and Other debts (+€113,676)
- Other debts +€113,676
up €113,676 (+64.8%), from €175,304 to €288,980
- Trade debts -€4,743
down €4,743 (-94.6%), from €5,013 to €270
- Gross operating margin +€152,937
up €152,937 (+67.2%), from €227,575 to €380,512
- Taxes +€37,809
up €37,809 (+71.3%), from €53,033 to €90,842
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 | €206,999 | €312,873 | +€105,874 | +51.1% |
| Fixed assets | 21/28 | €2,152 | €1,670 | -€482 | -22.4% |
| Tangible fixed assets | 22/27 | €2,152 | €1,670 | -€482 | -22.4% |
| Furniture and vehicles | 24 | €2,152 | €1,670 | -€482 | -22.4% |
| Current assets | 29/58 | €204,847 | €311,203 | +€106,356 | +51.9% |
| Amounts receivable within one year | 40/41 | €31,185 | €30,975 | -€211 | -0.7% |
| Trade receivables | 40 | €29,716 | €30,680 | +€964 | +3.2% |
| Other amounts receivable | 41 | €1,469 | €295 | -€1,174 | -79.9% |
| Cash at bank and in hand | 54/58 | €170,538 | €276,869 | +€106,331 | +62.4% |
| Deferred charges and accrued income | 490/1 | €3,124 | €3,360 | +€236 | +7.6% |
| Total equity and liabilities | 10/49 | €206,999 | €312,873 | +€105,874 | +51.1% |
| Equity | 10/15 | €5,000 | €5,000 | = | 0.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €201,999 | €307,873 | +€105,874 | +52.4% |
| Amounts payable within one year | 42/48 | €201,999 | €307,873 | +€105,874 | +52.4% |
| Trade debts | 44 | €5,013 | €270 | -€4,743 | -94.6% |
| Suppliers | 440/4 | €5,013 | €270 | -€4,743 | -94.6% |
| Taxes, remuneration and social security | 45 | €21,682 | €18,623 | -€3,059 | -14.1% |
| Taxes | 450/3 | €21,682 | €18,623 | -€3,059 | -14.1% |
| Other amounts payable | 47/48 | €175,304 | €288,980 | +€113,676 | +64.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €259 | €482 | +€223 | +86.3% |
| Other operating charges | 640/8 | €451 | €551 | +€100 | +22.2% |
| Gross operating margin | 9900 | €227,575 | €380,512 | +€152,937 | +67.2% |
| Operating profit (loss) | 9901 | €226,865 | €379,478 | +€152,613 | +67.3% |
| Financial income | 75/76B | €1,574 | €411 | -€1,163 | -73.9% |
| Recurring financial income | 75 | €1,574 | €411 | -€1,163 | -73.9% |
| Financial charges | 65/66B | €102 | €67 | -€34 | -33.8% |
| Recurring financial charges | 65 | €102 | €67 | -€34 | -33.8% |
| Profit (loss) for the period before taxes | 9903 | €228,337 | €379,822 | +€151,485 | +66.3% |
| Income taxes | 67/77 | €53,033 | €90,842 | +€37,809 | +71.3% |
| Profit (loss) for the period | 9904 | €175,304 | €288,980 | +€113,676 | +64.8% |
| Profit (loss) for the period to be appropriated | 9905 | €175,304 | €288,980 | +€113,676 | +64.8% |
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 3 October 2026 via checked.be.