MOFINO: 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.
What changed
MOFINO
NACE 73.110, Advertising agencies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€28,692
2024 · €43,977-€72,669
Equity
€70,559
2024 · €99,251-€28,692
Cash
€50,443
2024 · €47,445+€2,998
Balance sheet total
€780,143
2024 · €869,619-€89,476
Largest movements
Assets
- Tangible fixed assets -€47,255
down €47,255 (-8.6%), from €547,285 to €500,030
of which Land and buildings: -€343,907
- Stocks and contracts -€32,572
down €32,572 (-44.0%), from €74,074 to €41,502
Equity and liabilities
- Short-term financial debts -€60,000
down €60,000 (-54.5%), from €110,000 to €50,000
of which Credit institutions: -€110,000
- Debts after one year -€38,443
down €38,443 (-8.0%), from €482,169 to €443,726
- Profit (loss) carried forward -€28,692
down €28,692, from €0 to -€28,692
- Current portion of long-term debt +€16,159
up €16,159 (+19.4%), from €83,173 to €99,332
- Trade debts +€13,663
up €13,663 (+48.4%), from €28,251 to €41,913
Income statement
- Gross operating margin -€82,127
down €82,127 (-21.2%), from €386,969 to €304,842
- Taxes -€25,206
down €25,206 (-99.0%), from €25,459 to €253
- Staff costs +€14,222
up €14,222 (+6.8%), from €209,952 to €224,174
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.
Result 2024
€43,977
Gross operating margin
-€82,127
Staff costs
-€14,222
Depreciation
+€3,027
Other operating charges
-€1,553
Financial income
-€807
Financial charges
-€2,194
Taxes
+€25,206
Result 2025
-€28,692
raises the resultlowers the result
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.
From operations
+€99,044
Investment
-€13,763
Financing
-€82,283
Cash 2024
€47,445
From operations (derived)
+€99,044
Net result for the year
-€28,692
Depreciation
+€61,018
Stocks and contracts
+€32,572
Receivables within one year
+€6,827
Deferred charges and accrued income
+€5,820
Trade debts
+€13,663
Tax, wage and social debts
+€3,478
Other debts
-€6,500
Accrued charges and deferred income
+€10,858
Investment (derived)
-€13,763
Investment in fixed assets (net)
-€13,763
Financing
-€82,283
Debts after one year
-€38,443
Current portion of long-term debt
+€16,159
Short-term financial debts
-€60,000
Cash 2025
€50,443
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €869,619 | €780,143 | -€89,476 | -10.3% |
| Fixed assets | 21/28 | €547,285 | €500,030 | -€47,255 | -8.6% |
| Tangible fixed assets | 22/27 | €547,285 | €500,030 | -€47,255 | -8.6% |
| Land and buildings | 22 | €519,800 | €175,892 | -€343,907 | -66.2% |
| Plant, machinery and equipment | 23 | €5,136 | €4,344 | -€792 | -15.4% |
| Furniture and vehicles | 24 | €22,349 | €13,988 | -€8,361 | -37.4% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Other tangible fixed assets | 26 | - | €305,805 | +€305,805 | |
| Current assets | 29/58 | €322,334 | €280,113 | -€42,221 | -13.1% |
| Stocks and contracts in progress | 3 | €74,074 | €41,502 | -€32,572 | -44.0% |
| Stocks | 30/36 | €74,074 | €41,502 | -€32,572 | -44.0% |
| Amounts receivable within one year | 40/41 | €180,115 | €173,288 | -€6,827 | -3.8% |
| Trade receivables | 40 | €144,863 | €130,674 | -€14,189 | -9.8% |
| Other amounts receivable | 41 | €35,252 | €42,614 | +€7,362 | +20.9% |
| Cash at bank and in hand | 54/58 | €47,445 | €50,443 | +€2,998 | +6.3% |
| Deferred charges and accrued income | 490/1 | €20,700 | €14,880 | -€5,820 | -28.1% |
| Total equity and liabilities | 10/49 | €869,619 | €780,143 | -€89,476 | -10.3% |
| Equity | 10/15 | €99,251 | €70,559 | -€28,692 | -28.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €80,651 | €80,651 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €80,651 | €80,651 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | -€28,692 | -€28,692 | |
| Amounts payable | 17/49 | €770,368 | €709,584 | -€60,785 | -7.9% |
| Amounts payable after more than one year | 17 | €482,169 | €443,726 | -€38,443 | -8.0% |
| Financial debts | 170/4 | €482,169 | €443,726 | -€38,443 | -8.0% |
| Amounts payable within one year | 42/48 | €287,232 | €254,032 | -€33,200 | -11.6% |
| Current portion of amounts payable after more than one year | 42 | €83,173 | €99,332 | +€16,159 | +19.4% |
| Financial debts | 43 | €110,000 | €50,000 | -€60,000 | -54.5% |
| Credit institutions | 430/8 | €110,000 | - | -€110,000 | |
| Other loans | 439 | - | €50,000 | +€50,000 | |
| Trade debts | 44 | €28,251 | €41,913 | +€13,663 | +48.4% |
| Suppliers | 440/4 | €28,251 | €41,913 | +€13,663 | +48.4% |
| Taxes, remuneration and social security | 45 | €54,809 | €58,287 | +€3,478 | +6.3% |
| Taxes | 450/3 | €27,642 | €28,152 | +€510 | +1.8% |
| Remuneration and social security | 454/9 | €27,167 | €30,135 | +€2,968 | +10.9% |
| Other amounts payable | 47/48 | €11,000 | €4,500 | -€6,500 | -59.1% |
| Accrued charges and deferred income | 492/3 | €968 | €11,825 | +€10,858 | +1,122% |
| Non-recurring operating income | 76A | €2,500 | €6,115 | +€3,615 | +145% |
| Remuneration, social security and pensions | 62 | €209,952 | €224,174 | +€14,222 | +6.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €64,045 | €61,018 | -€3,027 | -4.7% |
| Other operating charges | 640/8 | €20,795 | €22,348 | +€1,553 | +7.5% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €386,969 | €304,842 | -€82,127 | -21.2% |
| Operating profit (loss) | 9901 | €92,177 | -€2,698 | -€94,875 | |
| Financial income | 75/76B | €2,745 | €1,939 | -€807 | -29.4% |
| Recurring financial income | 75 | €2,745 | €1,939 | -€807 | -29.4% |
| Financial charges | 65/66B | €25,487 | €27,680 | +€2,194 | +8.6% |
| Recurring financial charges | 65 | €25,487 | €27,680 | +€2,194 | +8.6% |
| Profit (loss) for the period before taxes | 9903 | €69,436 | -€28,439 | -€97,875 | |
| Income taxes | 67/77 | €25,459 | €253 | -€25,206 | -99.0% |
| Profit (loss) for the period | 9904 | €43,977 | -€28,692 | -€72,669 | |
| Profit (loss) for the period to be appropriated | 9905 | €43,977 | -€28,692 | -€72,669 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.