MFM PRO: 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.
MFM PRO
Largest movements
- Receivables within one year +€56,937
up €56,937 (+79.7%), from €71,427 to €128,363
of which Trade receivables: +€59,179
- Tangible fixed assets -€32,112
down €32,112 (-26.3%), from €122,088 to €89,977
of which Leasing and similar rights: -€25,541
- Deferred charges and accrued income +€28,594
up €28,594 (+1348.5%), from €2,121 to €30,715
- Cash -€20,610
no longer reported in 2025 (was €20,610)
mainly Receivables within one year (-€56,937) and Deferred charges and accrued income (-€28,594)
- Accrued charges and deferred income +€28,519
new in 2025: €28,519
- Profit (loss) carried forward +€16,953
up €16,953 (+21.6%), from €78,595 to €95,549
- Tax, wage and social debts -€14,140
down €14,140 (-75.0%), from €18,845 to €4,705
of which Remuneration and social security: -€7,336
- Trade debts -€14,077
down €14,077 (-84.3%), from €16,694 to €2,617
- Current portion of long-term debt +€6,314
up €6,314 (+29.2%), from €21,652 to €27,966
- Depreciation +€7,441
up €7,441 (+32.2%), from €23,100 to €30,541
- Taxes -€6,363
down €6,363 (-60.1%), from €10,596 to €4,233
- Gross operating margin -€5,839
down €5,839 (-8.7%), from €67,081 to €61,242
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 | €216,246 | €249,055 | +€32,809 | +15.2% |
| Fixed assets | 21/28 | €122,088 | €89,977 | -€32,112 | -26.3% |
| Tangible fixed assets | 22/27 | €122,088 | €89,977 | -€32,112 | -26.3% |
| Plant, machinery and equipment | 23 | €4,711 | €2,749 | -€1,962 | -41.6% |
| Furniture and vehicles | 24 | €10,706 | €6,096 | -€4,609 | -43.1% |
| Leasing and similar rights | 25 | €106,671 | €81,131 | -€25,541 | -23.9% |
| Current assets | 29/58 | €94,157 | €159,078 | +€64,921 | +68.9% |
| Amounts receivable within one year | 40/41 | €71,427 | €128,363 | +€56,937 | +79.7% |
| Trade receivables | 40 | €66,370 | €125,550 | +€59,179 | +89.2% |
| Other amounts receivable | 41 | €5,057 | €2,814 | -€2,243 | -44.4% |
| Cash at bank and in hand | 54/58 | €20,610 | - | -€20,610 | |
| Deferred charges and accrued income | 490/1 | €2,121 | €30,715 | +€28,594 | +1348.5% |
| Total equity and liabilities | 10/49 | €216,246 | €249,055 | +€32,809 | +15.2% |
| Equity | 10/15 | €86,655 | €103,609 | +€16,953 | +19.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €78,595 | €95,549 | +€16,953 | +21.6% |
| Amounts payable | 17/49 | €129,590 | €145,446 | +€15,856 | +12.2% |
| Amounts payable after more than one year | 17 | €66,946 | €72,466 | +€5,521 | +8.2% |
| Financial debts | 170/4 | €66,946 | €72,466 | +€5,521 | +8.2% |
| Amounts payable within one year | 42/48 | €62,644 | €44,460 | -€18,184 | -29.0% |
| Current portion of amounts payable after more than one year | 42 | €21,652 | €27,966 | +€6,314 | +29.2% |
| Financial debts | 43 | €3,790 | €7,576 | +€3,786 | +99.9% |
| Credit institutions | 430/8 | €3,790 | €7,576 | +€3,786 | +99.9% |
| Trade debts | 44 | €16,694 | €2,617 | -€14,077 | -84.3% |
| Suppliers | 440/4 | €16,694 | €2,617 | -€14,077 | -84.3% |
| Taxes, remuneration and social security | 45 | €18,845 | €4,705 | -€14,140 | -75.0% |
| Taxes | 450/3 | €8,509 | €1,705 | -€6,804 | -80.0% |
| Remuneration and social security | 454/9 | €10,336 | €3,000 | -€7,336 | -71.0% |
| Other amounts payable | 47/48 | €1,664 | €1,596 | -€67 | -4.0% |
| Accrued charges and deferred income | 492/3 | - | €28,519 | +€28,519 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,100 | €30,541 | +€7,441 | +32.2% |
| Other operating charges | 640/8 | €1,567 | €1,739 | +€172 | +11.0% |
| Gross operating margin | 9900 | €67,081 | €61,242 | -€5,839 | -8.7% |
| Operating profit (loss) | 9901 | €42,414 | €28,962 | -€13,452 | -31.7% |
| Financial income | 75/76B | €1 | €91 | +€90 | +10358.6% |
| Recurring financial income | 75 | €1 | €91 | +€90 | +10358.6% |
| Financial charges | 65/66B | €7,203 | €7,867 | +€664 | +9.2% |
| Recurring financial charges | 65 | €7,203 | €7,867 | +€664 | +9.2% |
| Profit (loss) for the period before taxes | 9903 | €35,212 | €21,186 | -€14,026 | -39.8% |
| Income taxes | 67/77 | €10,596 | €4,233 | -€6,363 | -60.1% |
| Profit (loss) for the period | 9904 | €24,616 | €16,953 | -€7,662 | -31.1% |
| Profit (loss) for the period to be appropriated | 9905 | €24,616 | €16,953 | -€7,662 | -31.1% |
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 6 October 2026 via checked.be.