MUTABILIS
Liquidation closed on 19-08-2026Financials · financial year 2025, micro format
Annual accounts 2025 filed on 15-06-2026 PDF all 34 filings
Equity
-€7,867
2024 · €9,119
Total assets
€2,942▼ 85.5%
2024 · €20,259
Net result
-€16,986▼ 184%
2024 · -€5,977
Working capital
-€7,758
2024 · €9,060
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€16,850
▼ 188%
2025
20182025
Net result
-€16,986
▼ 184%
2025
20182025
Equity
-€7,867
2025
20182025
Total assets
€2,942
▼ 85.5%
2025
20182025
Debt
€10,810
▼ 3.0%
2025
20182025
Working capital
-€7,758
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€6,501-€2,315▼ 64.4%-€5,401€80,727-€7,951-€15,489▼ 94.8%-€5,859▲ 62.2%-€16,850▼ 188%
Net result€5,550-€2,612▼ 52.9%-€2,694-€35,212▼ 1,207%-€7,289▲ 79.3%-€15,766▼ 116%-€5,977▲ 62.1%-€16,986▼ 184%
Equity€79,982-€82,594▲ 3.3%€73,363▼ 11.2%€38,151▼ 48.0%€30,862▼ 19.1%€15,096▼ 51.1%€9,119▼ 39.6%-€7,867
Total assets€161,449-€164,361▲ 1.8%€162,196▼ 1.3%€40,520▼ 75.0%€36,284▼ 10.5%€22,925▼ 36.8%€20,259▼ 11.6%€2,942▼ 85.5%
Debt€2,846-€3,146▲ 10.6%€10,213▲ 225%€2,369▼ 76.8%€5,422▲ 129%€7,830▲ 44.4%€11,140▲ 42.3%€10,810▼ 3.0%
Working capital€155,219-€158,459▲ 2.1%€150,962▼ 4.7%€35,840▼ 76.3%€29,500▼ 17.7%€14,683▼ 50.2%€9,060▼ 38.3%-€7,758
The operating result for 2025 is a loss of €16,850, larger than the loss of €5,859 in 2024. It is the lowest result since 2018.
Turnover and EBIT margin are not published. The micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2,942
Fixed assets
€59 =
Current assets
€2,883 ▼ 85.7%
Equity and liabilities
Equity-€7,867
Debt€10,810
Equity is negative. Debt (€10,810) exceeds the balance-sheet total (€2,942).
Key figures and ratios
EBITDA
-€16,850▼
2024 · -€5,505
Cash flow
-€16,986▼
2024 · -€5,623
Interest coverage
-124.01▼
2024 · -46.79
Debt ≤ 1 year
€10,641▼
2024 · €11,140
The ratios are withheld because a balance sheet total of €2,942 is too small for a meaningful ratio.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €2,251 | - | - | - | - |
| Financial fixed assets | - | - | - | - | €0 |
| Depreciation and write-downs of the year | €962 | €949 | €949 | €354 | €0 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,535 | €1,734 | €1,734 | €962 | €949 | €949 | €354 | €0 | ▼ 100% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | -€78,621 | - | - | - | - | - |
| Other operating charges640/8 | - | - | - | €566 | €549 | €384 | €387 | €450 | ▲ 16.1% |
| Gross operating margin9900 | €8,384 | €4,543 | -€3,074 | €3,634 | -€6,453 | -€14,155 | -€5,118 | -€16,401 | ▼ 220% |
| Operating profit (loss)9901 | €6,501 | €2,315 | -€5,401 | €80,727 | -€7,951 | -€15,489 | -€5,859 | -€16,850 | ▼ 188% |
| Financial income75/76B | - | - | - | €2,074 | €1,098 | €0 | €0 | - | - |
| Recurring financial income75 | €2,653 | €2,741 | €3,328 | €2,074 | €1,098 | €0 | €0 | - | - |
| Financial charges65/66B | - | - | - | €117,904 | €307 | €272 | €118 | €136 | ▲ 15.5% |
| Recurring financial charges65 | €949 | €759 | €511 | €117,904 | €307 | €272 | €118 | €136 | ▲ 15.5% |
| Profit (loss) for the period before taxes9903 | €8,205 | €4,297 | -€2,585 | -€35,103 | -€7,160 | -€15,761 | -€5,977 | -€16,986 | ▼ 184% |
| Income taxes67/77 | €2,655 | €1,686 | €109 | €110 | €129 | €5 | €0 | - | - |
| Profit (loss) for the period9904 | €5,550 | €2,612 | -€2,694 | -€35,212 | -€7,289 | -€15,766 | -€5,977 | -€16,986 | ▼ 184% |
| Profit (loss) for the period to be appropriated9905 | €5,550 | €2,612 | -€2,694 | -€35,212 | -€7,289 | -€15,766 | -€5,977 | -€16,986 | ▼ 184% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €161,449 | €164,361 | €162,196 | €40,520 | €36,284 | €22,925 | €20,259 | €2,942 | ▼ 85.5% |
| Fixed assets21/28 | €3,496 | €2,756 | €1,022 | €2,311 | €1,362 | €413 | €59 | €59 | = |
| Tangible fixed assets22/27 | €3,437 | €2,697 | €963 | €2,252 | €1,303 | €354 | €0 | - | - |
| Furniture and vehicles24 | - | - | - | €2,252 | €1,303 | €354 | €0 | - | - |
| Financial fixed assets28 | €59 | €59 | €59 | €59 | €59 | €59 | €59 | €59 | = |
| Current assets29/58 | €157,952 | €161,605 | €161,174 | €38,209 | €34,923 | €22,513 | €20,200 | €2,883 | ▼ 85.7% |
| Amounts receivable within one year40/41 | €38,514 | €37,111 | €43,599 | €32,790 | €1,797 | €406 | €5,084 | €1,558 | ▼ 69.4% |
| Trade receivables40 | - | - | - | €80 | - | - | €5,084 | €204 | ▼ 96.0% |
| Other amounts receivable41 | - | - | - | €32,710 | €1,797 | €406 | €0 | €1,354 | - |
| Cash at bank and in hand54/58 | €119,090 | €124,162 | €117,387 | - | €29,761 | €19,702 | €15,109 | €1,320 | ▼ 91.3% |
| Deferred charges and accrued income490/1 | - | - | - | €5,418 | €3,364 | €2,405 | €6 | €5 | ▼ 18.2% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €161,449 | €164,361 | €162,196 | €40,520 | €36,284 | €22,925 | €20,259 | €2,942 | ▼ 85.5% |
| Equity10/15 | €79,982 | €82,594 | €73,363 | €38,151 | €30,862 | €15,096 | €9,119 | -€7,867 | - |
| Contributions10/11 | €18,592 | €18,592 | - | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €60,959 | €63,570 | €54,771 | €22,033 | €22,033 | €20,174 | €20,174 | €20,174 | = |
| Non-distributable reserves130/1 | - | - | - | €1,859 | €1,859 | €0 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,859 | €1,859 | €0 | - | - | - |
| Distributable reserves133 | - | - | - | €20,174 | €20,174 | €20,174 | €20,174 | €20,174 | = |
| Profit (loss) carried forward14 | €432 | €432 | - | -€2,474 | -€9,763 | -€23,670 | -€29,646 | -€46,633 | ▼ 57.3% |
| Provisions and deferred taxes16 | €78,621 | €78,621 | €78,621 | - | - | - | - | - | - |
| Amounts payable17/49 | €2,846 | €3,146 | €10,213 | €2,369 | €5,422 | €7,830 | €11,140 | €10,810 | ▼ 3.0% |
| Amounts payable within one year42/48 | €2,733 | €3,146 | €10,213 | €2,369 | €5,422 | €7,830 | €11,140 | €10,641 | ▼ 4.5% |
| Financial debts43 | - | - | - | €380 | - | - | - | - | - |
| Credit institutions430/8 | - | - | - | €380 | - | - | - | - | - |
| Trade debts44 | €2,130 | €1,727 | €1,262 | €1,339 | €1,497 | €1,675 | €1,245 | €110 | ▼ 91.2% |
| Suppliers440/4 | - | - | - | €1,339 | €1,497 | €1,675 | €1,245 | €110 | ▼ 91.2% |
| Taxes, remuneration and social security45 | - | - | - | €650 | €129 | €899 | €1,043 | €0 | ▼ 100% |
| Taxes450/3 | - | - | - | €650 | €129 | €899 | €1,043 | €0 | ▼ 100% |
| Other amounts payable47/48 | - | - | - | - | €3,797 | €5,255 | €8,852 | €10,531 | ▲ 19.0% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | - | - | €168 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €5,550 | €2,612 | -€2,694 | -€35,212 | -€7,289 | -€15,766 | -€5,977 | -€16,986 | ▼ 184% |
| + Depreciation and write-downs630 | €1,535 | €1,734 | €1,734 | €962 | €949 | €949 | €354 | €0 | ▼ 100% |
| Operating cash flow (approximation) | €7,085 | €4,346 | -€959 | -€34,250 | -€6,340 | -€14,817 | -€5,623 | -€16,986 | ▼ 202% |
| Investment in fixed assets (approximation) | - | -€994 | €0 | -€2,251 | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €5,072 | -€6,775 | - | - | -€10,059 | -€4,593 | -€13,789 | ▼ 200% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 34 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 15-06-2026 | 2026-00163371 | |
| 31-12-2024 | micro format | 01-08-2025 | 2025-00348460 | |
| 31-12-2023 | micro format | 18-06-2024 | 2024-00153780 | |
| 31-12-2022 | micro format | 31-07-2023 | 2023-00300502 | |
| 31-12-2021 | micro format | 27-06-2022 | 2022-20094587 | |
| 31-12-2020 | micro format | 20-05-2021 | 2021-14500578 | |
| 31-12-2019 | micro format | 09-06-2020 | 2020-15300235 | |
| 31-12-2018 | micro format | 28-05-2019 | 2019-14700396 | |
| 31-12-2017 | micro format | 05-06-2018 | 2018-15800537 | |
| 31-12-2016 | full format | 01-06-2017 | 2017-14500010 |