MLF CONSULT: 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.
MLF CONSULT
Largest movements
- Receivables within one year +€21,624
up €21,624 (+45.8%), from €47,197 to €68,822
of which Trade receivables: +€14,684
- Tangible fixed assets -€20,248
down €20,248 (-11.7%), from €172,341 to €152,094
of which Land and buildings: -€12,640
- Cash +€12,512
up €12,512 (+25.2%), from €49,671 to €62,183
mainly Other debts (+€186,088) and Net result for the year (+€69,633)
- Other debts +€186,088
up €186,088, from €0 to €186,088
- Reserves -€147,715
down €147,715 (-16.9%), from €874,964 to €727,250
of which Distributable reserves: -€147,318
- Tax, wage and social debts -€25,466
down €25,466 (-46.9%), from €54,348 to €28,882
of which Taxes: -€28,311
- Financial income -€150,955
down €150,955 (-91.7%), from €164,706 to €13,751
- Taxes -€77,676
down €77,676, from €76,658 to -€1,018
- Staff costs +€39,727
up €39,727 (+267%), from €14,858 to €54,584
- Gross operating margin +€27,895
up €27,895 (+25.5%), from €109,185 to €137,079
- Depreciation +€3,340
up €3,340 (+14.7%), from €22,648 to €25,987
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 | €951,807 | €965,861 | +€14,054 | +1.5% |
| Fixed assets | 21/28 | €173,841 | €153,594 | -€20,248 | -11.6% |
| Tangible fixed assets | 22/27 | €172,341 | €152,094 | -€20,248 | -11.7% |
| Land and buildings | 22 | €94,308 | €81,669 | -€12,640 | -13.4% |
| Furniture and vehicles | 24 | €50,149 | €38,739 | -€11,409 | -22.8% |
| Other tangible fixed assets | 26 | €27,884 | €31,686 | +€3,802 | +13.6% |
| Financial fixed assets | 28 | €1,500 | €1,500 | = | 0.0% |
| Current assets | 29/58 | €777,966 | €812,268 | +€34,302 | +4.4% |
| Amounts receivable within one year | 40/41 | €47,197 | €68,822 | +€21,624 | +45.8% |
| Trade receivables | 40 | €27,690 | €42,374 | +€14,684 | +53.0% |
| Other amounts receivable | 41 | €19,507 | €26,448 | +€6,941 | +35.6% |
| Current investments | 50/53 | €675,000 | €675,535 | +€535 | +0.1% |
| Cash at bank and in hand | 54/58 | €49,671 | €62,183 | +€12,512 | +25.2% |
| Deferred charges and accrued income | 490/1 | €6,098 | €5,728 | -€370 | -6.1% |
| Total equity and liabilities | 10/49 | €951,807 | €965,861 | +€14,054 | +1.5% |
| Equity | 10/15 | €893,564 | €745,850 | -€147,715 | -16.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €874,964 | €727,250 | -€147,715 | -16.9% |
| Tax-exempt reserves | 132 | €808 | €412 | -€397 | -49.1% |
| Distributable reserves | 133 | €874,156 | €726,838 | -€147,318 | -16.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €58,243 | €220,012 | +€161,769 | +278% |
| Amounts payable within one year | 42/48 | €58,243 | €219,890 | +€161,648 | +278% |
| Financial debts | 43 | €10 | €0 | -€10 | -100% |
| Credit institutions | 430/8 | €10 | €0 | -€10 | -100% |
| Trade debts | 44 | €3,885 | €4,920 | +€1,035 | +26.6% |
| Suppliers | 440/4 | €3,885 | €4,920 | +€1,035 | +26.6% |
| Taxes, remuneration and social security | 45 | €54,348 | €28,882 | -€25,466 | -46.9% |
| Taxes | 450/3 | €49,519 | €21,208 | -€28,311 | -57.2% |
| Remuneration and social security | 454/9 | €4,829 | €7,674 | +€2,844 | +58.9% |
| Other amounts payable | 47/48 | €0 | €186,088 | +€186,088 | |
| Accrued charges and deferred income | 492/3 | - | €121 | +€121 | |
| Remuneration, social security and pensions | 62 | €14,858 | €54,584 | +€39,727 | +267% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,648 | €25,987 | +€3,340 | +14.7% |
| Other operating charges | 640/8 | €972 | €1,002 | +€30 | +3.1% |
| Gross operating margin | 9900 | €109,185 | €137,079 | +€27,895 | +25.5% |
| Operating profit (loss) | 9901 | €70,707 | €55,505 | -€15,202 | -21.5% |
| Financial income | 75/76B | €164,706 | €13,751 | -€150,955 | -91.7% |
| Recurring financial income | 75 | €164,706 | €13,751 | -€150,955 | -91.7% |
| Financial charges | 65/66B | €260 | €641 | +€382 | +147% |
| Recurring financial charges | 65 | €260 | €597 | +€338 | +130% |
| Non-recurring financial charges | 66B | - | €44 | +€44 | |
| Profit (loss) for the period before taxes | 9903 | €235,153 | €68,615 | -€166,539 | -70.8% |
| Income taxes | 67/77 | €76,658 | -€1,018 | -€77,676 | |
| Profit (loss) for the period | 9904 | €158,495 | €69,633 | -€88,863 | -56.1% |
| Transfer from tax-exempt reserves | 789 | - | €397 | +€397 | |
| Profit (loss) for the period to be appropriated | 9905 | €158,495 | €70,029 | -€88,466 | -55.8% |
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 30 October 2026 via checked.be.