MFT GASPAR: 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.
MFT GASPAR
Largest movements
- Stocks and contracts -€40,971
down €40,971 (-41.4%), from €98,872 to €57,901
- Tangible fixed assets -€33,196
down €33,196 (-12.1%), from €275,111 to €241,915
of which Plant, machinery and equipment: -€24,644
- Cash -€18,133
down €18,133 (-12.1%), from €150,437 to €132,305
mainly Debts after one year (-€61,442) and Other debts (-€30,140)
- Receivables within one year +€16,754
up €16,754 (+55.5%), from €30,207 to €46,961
of which Trade receivables: +€17,685
- Debts after one year -€61,442
down €61,442 (-23.2%), from €265,085 to €203,643
of which Other amounts payable: -€43,689
- Other debts -€30,140
down €30,140 (-75.2%), from €40,098 to €9,958
- Trade debts +€9,014
up €9,014 (+157%), from €5,726 to €14,740
- Turnover -€32,233
down €32,233 (-7.8%), from €415,674 to €383,441
- Purchases and services -€21,501
down €21,501 (-6.2%), from €348,327 to €326,826
- Staff costs -€11,657
down €11,657 (-40.4%), from €28,851 to €17,194
- Gross operating margin -€11,359
down €11,359 (-15.6%), from €72,757 to €61,398
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 | €561,487 | €481,249 | -€80,238 | -14.3% |
| Fixed assets | 21/28 | €275,111 | €241,915 | -€33,196 | -12.1% |
| Tangible fixed assets | 22/27 | €275,111 | €241,915 | -€33,196 | -12.1% |
| Plant, machinery and equipment | 23 | €242,005 | €217,361 | -€24,644 | -10.2% |
| Furniture and vehicles | 24 | €3,366 | €1,617 | -€1,749 | -52.0% |
| Leasing and similar rights | 25 | €29,740 | €22,937 | -€6,803 | -22.9% |
| Current assets | 29/58 | €286,376 | €239,334 | -€47,042 | -16.4% |
| Stocks and contracts in progress | 3 | €98,872 | €57,901 | -€40,971 | -41.4% |
| Stocks | 30/36 | €98,872 | €57,901 | -€40,971 | -41.4% |
| Amounts receivable within one year | 40/41 | €30,207 | €46,961 | +€16,754 | +55.5% |
| Trade receivables | 40 | €21,223 | €38,907 | +€17,685 | +83.3% |
| Other amounts receivable | 41 | €8,985 | €8,054 | -€931 | -10.4% |
| Cash at bank and in hand | 54/58 | €150,437 | €132,305 | -€18,133 | -12.1% |
| Deferred charges and accrued income | 490/1 | €6,860 | €2,168 | -€4,692 | -68.4% |
| Total equity and liabilities | 10/49 | €561,487 | €481,249 | -€80,238 | -14.3% |
| Equity | 10/15 | €225,475 | €228,931 | +€3,457 | +1.5% |
| Contributions | 10/11 | €104,205 | €104,205 | = | 0.0% |
| Reserves | 13 | €44,709 | €48,165 | +€3,457 | +7.7% |
| Distributable reserves | 133 | €44,709 | €48,165 | +€3,457 | +7.7% |
| Profit (loss) carried forward | 14 | €76,561 | €76,561 | = | 0.0% |
| Amounts payable | 17/49 | €336,013 | €252,318 | -€83,694 | -24.9% |
| Amounts payable after more than one year | 17 | €265,085 | €203,643 | -€61,442 | -23.2% |
| Financial debts | 170/4 | €120,085 | €102,332 | -€17,754 | -14.8% |
| Other amounts payable | 178/9 | €145,000 | €101,311 | -€43,689 | -30.1% |
| Amounts payable within one year | 42/48 | €70,927 | €48,676 | -€22,252 | -31.4% |
| Current portion of amounts payable after more than one year | 42 | €17,284 | €17,754 | +€469 | +2.7% |
| Trade debts | 44 | €5,726 | €14,740 | +€9,014 | +157% |
| Suppliers | 440/4 | €5,726 | €14,740 | +€9,014 | +157% |
| Taxes, remuneration and social security | 45 | €7,819 | €6,224 | -€1,595 | -20.4% |
| Taxes | 450/3 | €2,326 | €2,301 | -€25 | -1.1% |
| Remuneration and social security | 454/9 | €5,494 | €3,923 | -€1,571 | -28.6% |
| Other amounts payable | 47/48 | €40,098 | €9,958 | -€30,140 | -75.2% |
| Turnover | 70 | €415,674 | €383,441 | -€32,233 | -7.8% |
| Goods, raw materials, services and sundry goods | 60/61 | €348,327 | €326,826 | -€21,501 | -6.2% |
| Remuneration, social security and pensions | 62 | €28,851 | €17,194 | -€11,657 | -40.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,701 | €33,770 | -€930 | -2.7% |
| Other operating charges | 640/8 | €1,558 | €1,408 | -€150 | -9.6% |
| Gross operating margin | 9900 | €72,757 | €61,398 | -€11,359 | -15.6% |
| Operating profit (loss) | 9901 | €7,648 | €9,026 | +€1,378 | +18.0% |
| Financial income | 75/76B | €347 | €516 | +€169 | +48.7% |
| Recurring financial income | 75 | €347 | €516 | +€169 | +48.7% |
| Financial charges | 65/66B | €5,132 | €4,928 | -€204 | -4.0% |
| Recurring financial charges | 65 | €5,132 | €4,928 | -€204 | -4.0% |
| Profit (loss) for the period before taxes | 9903 | €2,862 | €4,614 | +€1,752 | +61.2% |
| Income taxes | 67/77 | €248 | €1,157 | +€909 | +366% |
| Profit (loss) for the period | 9904 | €2,614 | €3,457 | +€842 | +32.2% |
| Profit (loss) for the period to be appropriated | 9905 | €2,614 | €3,457 | +€842 | +32.2% |
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 28 October 2026 via checked.be.