MFR LAW: 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.
MFR LAW
Largest movements
- Cash +€19,289
up €19,289 (+964.5%), from €2,000 to €21,289
mainly Net result for the year (+€18,238) and Tax, wage and social debts (+€12,864)
- Receivables within one year +€7,992
up €7,992 (+67.8%), from €11,792 to €19,784
of which Other amounts receivable: +€5,540
- Tangible fixed assets -€3,086
down €3,086 (-26.9%), from €11,453 to €8,367
- Formation expenses -€1,201
no longer reported in 2025 (was €1,201)
- Deferred charges and accrued income +€626
new in 2025: €626
- Tax, wage and social debts +€12,864
up €12,864 (+459.2%), from €2,802 to €15,665
- Profit (loss) carried forward +€10,338
up €10,338 (+156.9%), from €6,591 to €16,929
- Other debts +€4,750
up €4,750 (+150.8%), from €3,150 to €7,900
- Debts after one year -€3,329
down €3,329 (-45.1%), from €7,382 to €4,053
- Trade debts -€1,130
down €1,130 (-85.6%), from €1,319 to €190
- Gross operating margin +€21,658
up €21,658 (+231.8%), from €9,342 to €31,001
- Depreciation +€5,062
up €5,062 (+4486.3%), from €113 to €5,175
- Taxes +€3,602
up €3,602 (+163.6%), from €2,202 to €5,804
- Financial charges +€1,206
new in 2025: €1,206
- Other operating charges +€322
up €322 (+73.6%), from €437 to €759
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 | €26,446 | €50,066 | +€23,620 | +89.3% |
| Formation expenses | 20 | €1,201 | - | -€1,201 | |
| Fixed assets | 21/28 | €11,453 | €8,367 | -€3,086 | -26.9% |
| Tangible fixed assets | 22/27 | €11,453 | €8,367 | -€3,086 | -26.9% |
| Furniture and vehicles | 24 | €11,453 | €8,367 | -€3,086 | -26.9% |
| Current assets | 29/58 | €13,792 | €41,699 | +€27,907 | +202.4% |
| Amounts receivable within one year | 40/41 | €11,792 | €19,784 | +€7,992 | +67.8% |
| Trade receivables | 40 | €11,792 | €14,244 | +€2,452 | +20.8% |
| Other amounts receivable | 41 | - | €5,540 | +€5,540 | |
| Cash at bank and in hand | 54/58 | €2,000 | €21,289 | +€19,289 | +964.5% |
| Deferred charges and accrued income | 490/1 | - | €626 | +€626 | |
| Total equity and liabilities | 10/49 | €26,446 | €50,066 | +€23,620 | +89.3% |
| Equity | 10/15 | €8,591 | €18,929 | +€10,338 | +120.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,591 | €16,929 | +€10,338 | +156.9% |
| Amounts payable | 17/49 | €17,855 | €31,137 | +€13,282 | +74.4% |
| Amounts payable after more than one year | 17 | €7,382 | €4,053 | -€3,329 | -45.1% |
| Financial debts | 170/4 | €7,382 | €4,053 | -€3,329 | -45.1% |
| Amounts payable within one year | 42/48 | €10,473 | €27,085 | +€16,612 | +158.6% |
| Current portion of amounts payable after more than one year | 42 | €3,202 | €3,329 | +€128 | +4.0% |
| Trade debts | 44 | €1,319 | €190 | -€1,130 | -85.6% |
| Suppliers | 440/4 | €1,319 | €190 | -€1,130 | -85.6% |
| Taxes, remuneration and social security | 45 | €2,802 | €15,665 | +€12,864 | +459.2% |
| Taxes | 450/3 | €2,802 | €15,665 | +€12,864 | +459.2% |
| Other amounts payable | 47/48 | €3,150 | €7,900 | +€4,750 | +150.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €113 | €5,175 | +€5,062 | +4486.3% |
| Other operating charges | 640/8 | €437 | €759 | +€322 | +73.6% |
| Gross operating margin | 9900 | €9,342 | €31,001 | +€21,658 | +231.8% |
| Operating profit (loss) | 9901 | €8,792 | €25,066 | +€16,274 | +185.1% |
| Financial income | 75/76B | - | €181 | +€181 | |
| Recurring financial income | 75 | - | €181 | +€181 | |
| Financial charges | 65/66B | - | €1,206 | +€1,206 | |
| Recurring financial charges | 65 | - | €1,206 | +€1,206 | |
| Profit (loss) for the period before taxes | 9903 | €8,792 | €24,042 | +€15,250 | +173.4% |
| Income taxes | 67/77 | €2,202 | €5,804 | +€3,602 | +163.6% |
| Profit (loss) for the period | 9904 | €6,591 | €18,238 | +€11,647 | +176.7% |
| Profit (loss) for the period to be appropriated | 9905 | €6,591 | €18,238 | +€11,647 | +176.7% |
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 10 October 2026 via checked.be.