MN-FIN: 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.
MN-FIN
Largest movements
- Tangible fixed assets +€37,247
up €37,247 (+92.7%), from €40,196 to €77,443
of which Furniture and vehicles: +€38,695
- Cash +€37,173
up €37,173 (+55.2%), from €67,342 to €104,515
mainly Net result for the year (+€113,260) and Tax, wage and social debts (+€32,589)
- Receivables within one year +€34,509
up €34,509 (+138.9%), from €24,848 to €59,357
- Profit (loss) carried forward +€113,260
up €113,260 (+162.2%), from €69,814 to €183,073
- Tax, wage and social debts +€32,589
up €32,589 (+154.7%), from €21,064 to €53,653
- Debts after one year -€23,170
down €23,170 (-100.0%), from €23,170 to €0
- Current portion of long-term debt -€13,575
down €13,575 (-100.0%), from €13,575 to €0
- Gross operating margin +€89,253
up €89,253 (+89.4%), from €99,804 to €189,056
- Taxes +€16,301
up €16,301 (+92.8%), from €17,558 to €33,859
- Other operating charges +€15,542
up €15,542 (+392.3%), from €3,962 to €19,504
- Depreciation +€14,432
up €14,432 (+193.7%), from €7,452 to €21,884
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 | €134,715 | €244,474 | +€109,759 | +81.5% |
| Fixed assets | 21/28 | €40,196 | €77,443 | +€37,247 | +92.7% |
| Tangible fixed assets | 22/27 | €40,196 | €77,443 | +€37,247 | +92.7% |
| Plant, machinery and equipment | 23 | €3,685 | €2,238 | -€1,448 | -39.3% |
| Furniture and vehicles | 24 | €36,510 | €75,205 | +€38,695 | +106.0% |
| Current assets | 29/58 | €94,519 | €167,031 | +€72,511 | +76.7% |
| Amounts receivable within one year | 40/41 | €24,848 | €59,357 | +€34,509 | +138.9% |
| Trade receivables | 40 | €24,848 | €59,357 | +€34,509 | +138.9% |
| Cash at bank and in hand | 54/58 | €67,342 | €104,515 | +€37,173 | +55.2% |
| Deferred charges and accrued income | 490/1 | €2,330 | €3,158 | +€829 | +35.6% |
| Total equity and liabilities | 10/49 | €134,715 | €244,474 | +€109,759 | +81.5% |
| Equity | 10/15 | €72,814 | €186,073 | +€113,260 | +155.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €69,814 | €183,073 | +€113,260 | +162.2% |
| Amounts payable | 17/49 | €61,901 | €58,400 | -€3,501 | -5.7% |
| Amounts payable after more than one year | 17 | €23,170 | €0 | -€23,170 | -100.0% |
| Financial debts | 170/4 | €23,170 | €0 | -€23,170 | -100.0% |
| Amounts payable within one year | 42/48 | €38,731 | €58,400 | +€19,669 | +50.8% |
| Current portion of amounts payable after more than one year | 42 | €13,575 | €0 | -€13,575 | -100.0% |
| Trade debts | 44 | €3,115 | €3,371 | +€255 | +8.2% |
| Suppliers | 440/4 | €3,115 | €3,371 | +€255 | +8.2% |
| Taxes, remuneration and social security | 45 | €21,064 | €53,653 | +€32,589 | +154.7% |
| Taxes | 450/3 | €21,064 | €53,653 | +€32,589 | +154.7% |
| Other amounts payable | 47/48 | €976 | €1,377 | +€400 | +41.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,452 | €21,884 | +€14,432 | +193.7% |
| Other operating charges | 640/8 | €3,962 | €19,504 | +€15,542 | +392.3% |
| Gross operating margin | 9900 | €99,804 | €189,056 | +€89,253 | +89.4% |
| Operating profit (loss) | 9901 | €88,389 | €147,668 | +€59,279 | +67.1% |
| Financial income | 75/76B | €49 | €214 | +€165 | +334.1% |
| Recurring financial income | 75 | €49 | €214 | +€165 | +334.1% |
| Financial charges | 65/66B | €1,067 | €764 | -€304 | -28.5% |
| Recurring financial charges | 65 | €1,067 | €764 | -€304 | -28.5% |
| Profit (loss) for the period before taxes | 9903 | €87,371 | €147,118 | +€59,747 | +68.4% |
| Income taxes | 67/77 | €17,558 | €33,859 | +€16,301 | +92.8% |
| Profit (loss) for the period | 9904 | €69,814 | €113,260 | +€43,446 | +62.2% |
| Profit (loss) for the period to be appropriated | 9905 | €69,814 | €113,260 | +€43,446 | +62.2% |
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 10 October 2026 via checked.be.