MNFS Management: 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.
MNFS Management
Largest movements
- Tangible fixed assets -€14,301
down €14,301 (-20.0%), from €71,517 to €57,216
of which Furniture and vehicles: -€12,122
- Cash -€7,955
down €7,955 (-21.7%), from €36,638 to €28,683
mainly Debts after one year (-€22,481) and Contributions, distributions and other (-€18,238)
- Debts after one year -€22,481
down €22,481 (-19.2%), from €117,335 to €94,853
- Profit (loss) carried forward -€11,719
down €11,719 (-39.4%), from €29,765 to €18,046
- Other debts +€10,584
up €10,584 (+355.1%), from €2,981 to €13,565
- Provisions +€7,366
up €7,366 (+44.3%), from €16,627 to €23,993
- Tax, wage and social debts -€6,326
down €6,326 (-28.7%), from €22,071 to €15,745
of which Taxes: -€6,406
- Financial charges +€19,277
up €19,277 (+418.7%), from €4,604 to €23,881
- Provisions -€9,261
down €9,261 (-55.7%), from €16,627 to €7,366
- Depreciation +€6,249
up €6,249 (+77.6%), from €8,052 to €14,301
- Gross operating margin +€5,125
up €5,125 (+9.1%), from €56,487 to €61,612
- Taxes -€4,231
down €4,231 (-41.3%), from €10,233 to €6,002
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 | €212,182 | €190,483 | -€21,699 | -10.2% |
| Fixed assets | 21/28 | €174,417 | €160,116 | -€14,301 | -8.2% |
| Tangible fixed assets | 22/27 | €71,517 | €57,216 | -€14,301 | -20.0% |
| Furniture and vehicles | 24 | €53,919 | €41,797 | -€12,122 | -22.5% |
| Other tangible fixed assets | 26 | €17,599 | €15,420 | -€2,179 | -12.4% |
| Financial fixed assets | 28 | €102,900 | €102,900 | = | 0.0% |
| Current assets | 29/58 | €37,765 | €30,367 | -€7,398 | -19.6% |
| Amounts receivable within one year | 40/41 | €700 | €212 | -€488 | -69.7% |
| Trade receivables | 40 | €700 | €132 | -€568 | -81.1% |
| Other amounts receivable | 41 | - | €80 | +€80 | |
| Cash at bank and in hand | 54/58 | €36,638 | €28,683 | -€7,955 | -21.7% |
| Deferred charges and accrued income | 490/1 | €427 | €1,472 | +€1,045 | +244.5% |
| Total equity and liabilities | 10/49 | €212,182 | €190,483 | -€21,699 | -10.2% |
| Equity | 10/15 | €31,265 | €19,546 | -€11,719 | -37.5% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €29,765 | €18,046 | -€11,719 | -39.4% |
| Provisions and deferred taxes | 16 | €16,627 | €23,993 | +€7,366 | +44.3% |
| Provisions for liabilities and charges | 160/5 | €16,627 | €23,993 | +€7,366 | +44.3% |
| Other liabilities and charges | 164/5 | €16,627 | €23,993 | +€7,366 | +44.3% |
| Amounts payable | 17/49 | €164,290 | €146,944 | -€17,346 | -10.6% |
| Amounts payable after more than one year | 17 | €117,335 | €94,853 | -€22,481 | -19.2% |
| Financial debts | 170/4 | €117,335 | €94,853 | -€22,481 | -19.2% |
| Amounts payable within one year | 42/48 | €46,955 | €52,060 | +€5,104 | +10.9% |
| Current portion of amounts payable after more than one year | 42 | €21,547 | €22,481 | +€934 | +4.3% |
| Trade debts | 44 | €356 | €268 | -€88 | -24.7% |
| Suppliers | 440/4 | €356 | €268 | -€88 | -24.7% |
| Taxes, remuneration and social security | 45 | €22,071 | €15,745 | -€6,326 | -28.7% |
| Taxes | 450/3 | €22,071 | €15,665 | -€6,406 | -29.0% |
| Remuneration and social security | 454/9 | - | €80 | +€80 | |
| Other amounts payable | 47/48 | €2,981 | €13,565 | +€10,584 | +355.1% |
| Accrued charges and deferred income | 492/3 | - | €31 | +€31 | |
| Remuneration, social security and pensions | 62 | €1,631 | €1,589 | -€41 | -2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,052 | €14,301 | +€6,249 | +77.6% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €16,627 | €7,366 | -€9,261 | -55.7% |
| Other operating charges | 640/8 | €2,990 | €2,230 | -€760 | -25.4% |
| Gross operating margin | 9900 | €56,487 | €61,612 | +€5,125 | +9.1% |
| Operating profit (loss) | 9901 | €27,186 | €36,125 | +€8,939 | +32.9% |
| Financial income | 75/76B | €11 | €276 | +€266 | +2495.3% |
| Recurring financial income | 75 | €11 | €276 | +€266 | +2495.3% |
| Financial charges | 65/66B | €4,604 | €23,881 | +€19,277 | +418.7% |
| Recurring financial charges | 65 | €4,604 | €23,881 | +€19,277 | +418.7% |
| Profit (loss) for the period before taxes | 9903 | €22,593 | €12,520 | -€10,073 | -44.6% |
| Income taxes | 67/77 | €10,233 | €6,002 | -€4,231 | -41.3% |
| Profit (loss) for the period | 9904 | €12,360 | €6,519 | -€5,842 | -47.3% |
| Profit (loss) for the period to be appropriated | 9905 | €12,360 | €6,519 | -€5,842 | -47.3% |
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 7 October 2026 via checked.be.