MFRCOM: 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.
MFRCOM
Largest movements
- Cash -€27,415
down €27,415 (-61.8%), from €44,329 to €16,914
mainly Contributions, distributions and other (-€30,000) and Receivables within one year (-€12,469)
- Receivables within one year +€12,469
up €12,469 (+58.1%), from €21,465 to €33,934
of which Other amounts receivable: +€11,448
- Tangible fixed assets -€7,864
down €7,864 (-18.1%), from €43,443 to €35,579
of which Land and buildings: -€6,880
- Profit (loss) carried forward -€21,715
down €21,715 (-26.2%), from €82,970 to €61,255
- Other debts -€3,000
down €3,000 (-25.0%), from €12,000 to €9,000
- Tax, wage and social debts +€2,391
up €2,391 (+92.8%), from €2,578 to €4,969
- Gross operating margin +€5,435
up €5,435 (+39.2%), from €13,862 to €19,297
- Taxes +€1,069
up €1,069 (+49.3%), from €2,167 to €3,236
- Financial income +€661
up €661 (+195.2%), from €338 to €999
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 | €109,236 | €86,427 | -€22,809 | -20.9% |
| Fixed assets | 21/28 | €43,443 | €35,579 | -€7,864 | -18.1% |
| Tangible fixed assets | 22/27 | €43,443 | €35,579 | -€7,864 | -18.1% |
| Land and buildings | 22 | €41,388 | €34,507 | -€6,880 | -16.6% |
| Plant, machinery and equipment | 23 | €466 | €388 | -€78 | -16.7% |
| Furniture and vehicles | 24 | €1,590 | €684 | -€906 | -57.0% |
| Current assets | 29/58 | €65,794 | €50,848 | -€14,945 | -22.7% |
| Amounts receivable within one year | 40/41 | €21,465 | €33,934 | +€12,469 | +58.1% |
| Trade receivables | 40 | €9,705 | €10,727 | +€1,022 | +10.5% |
| Other amounts receivable | 41 | €11,759 | €23,207 | +€11,448 | +97.4% |
| Cash at bank and in hand | 54/58 | €44,329 | €16,914 | -€27,415 | -61.8% |
| Total equity and liabilities | 10/49 | €109,236 | €86,427 | -€22,809 | -20.9% |
| Equity | 10/15 | €94,173 | €72,458 | -€21,715 | -23.1% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €5,005 | €5,005 | = | 0.0% |
| Distributable reserves | 133 | €5,005 | €5,005 | = | 0.0% |
| Profit (loss) carried forward | 14 | €82,970 | €61,255 | -€21,715 | -26.2% |
| Amounts payable | 17/49 | €15,063 | €13,969 | -€1,094 | -7.3% |
| Amounts payable within one year | 42/48 | €15,063 | €13,969 | -€1,094 | -7.3% |
| Trade debts | 44 | €485 | - | -€485 | |
| Suppliers | 440/4 | €485 | - | -€485 | |
| Taxes, remuneration and social security | 45 | €2,578 | €4,969 | +€2,391 | +92.8% |
| Taxes | 450/3 | €2,578 | €4,969 | +€2,391 | +92.8% |
| Other amounts payable | 47/48 | €12,000 | €9,000 | -€3,000 | -25.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,024 | €7,864 | -€160 | -2.0% |
| Other operating charges | 640/8 | €754 | €778 | +€24 | +3.1% |
| Gross operating margin | 9900 | €13,862 | €19,297 | +€5,435 | +39.2% |
| Operating profit (loss) | 9901 | €5,084 | €10,656 | +€5,571 | +109.6% |
| Financial income | 75/76B | €338 | €999 | +€661 | +195.2% |
| Recurring financial income | 75 | €338 | €999 | +€661 | +195.2% |
| Financial charges | 65/66B | €110 | €134 | +€24 | +22.3% |
| Recurring financial charges | 65 | €110 | €134 | +€24 | +22.3% |
| Profit (loss) for the period before taxes | 9903 | €5,313 | €11,521 | +€6,207 | +116.8% |
| Income taxes | 67/77 | €2,167 | €3,236 | +€1,069 | +49.3% |
| Profit (loss) for the period | 9904 | €3,146 | €8,285 | +€5,138 | +163.3% |
| Profit (loss) for the period to be appropriated | 9905 | €3,146 | €8,285 | +€5,138 | +163.3% |
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 29 September 2026 via checked.be.