AANNEMINGEN MUSSCHOOT: 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.
AANNEMINGEN MUSSCHOOT
Largest movements
- Receivables within one year +€4,948
up €4,948 (+245%), from €2,019 to €6,967
of which Trade receivables: +€4,317
- Cash +€4,929
up €4,929 (+738%), from €668 to €5,597
mainly Net result for the year (+€15,893) and Depreciation (+€6,353)
- Tangible fixed assets -€4,747
down €4,747 (-24.7%), from €19,226 to €14,479
of which Furniture and vehicles: -€5,000
- Stocks and contracts -€2,688
down €2,688 (-31.2%), from €8,609 to €5,921
- Deferred charges and accrued income +€2,465
up €2,465 (+732%), from €337 to €2,802
- Profit (loss) carried forward +€15,060
up €15,060 (+127%), from €11,824 to €26,883
- Current portion of long-term debt -€6,582
down €6,582 (-90.7%), from €7,258 to €676
- Tax, wage and social debts -€1,569
down €1,569 (-58.5%), from €2,681 to €1,112
of which Remuneration and social security: -€1,200
- Debts after one year -€676
no longer reported in 2025 (was €676)
- Advances received -€500
no longer reported in 2025 (was €500)
- Gross operating margin +€10,833
up €10,833 (+49.6%), from €21,839 to €32,672
- Depreciation +€2,883
up €2,883 (+83.0%), from €3,471 to €6,353
- Staff costs +€2,836
up €2,836 (+174%), from €1,631 to €4,467
- Taxes +€1,370
up €1,370 (+38.3%), from €3,581 to €4,951
- Other operating charges +€559
up €559 (+473%), from €118 to €677
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 | €31,591 | €37,925 | +€6,334 | +20.0% |
| Formation expenses | 20 | €447 | - | -€447 | |
| Fixed assets | 21/28 | €19,511 | €16,639 | -€2,872 | -14.7% |
| Intangible fixed assets | 21 | €285 | €255 | -€30 | -10.5% |
| Tangible fixed assets | 22/27 | €19,226 | €14,479 | -€4,747 | -24.7% |
| Plant, machinery and equipment | 23 | €1,747 | €2,000 | +€253 | +14.5% |
| Furniture and vehicles | 24 | €17,479 | €12,479 | -€5,000 | -28.6% |
| Financial fixed assets | 28 | - | €1,905 | +€1,905 | |
| Current assets | 29/58 | €11,633 | €21,286 | +€9,653 | +83.0% |
| Stocks and contracts in progress | 3 | €8,609 | €5,921 | -€2,688 | -31.2% |
| Contracts in progress | 37 | €8,609 | €5,921 | -€2,688 | -31.2% |
| Amounts receivable within one year | 40/41 | €2,019 | €6,967 | +€4,948 | +245% |
| Trade receivables | 40 | €821 | €5,139 | +€4,317 | +526% |
| Other amounts receivable | 41 | €1,198 | €1,828 | +€630 | +52.6% |
| Cash at bank and in hand | 54/58 | €668 | €5,597 | +€4,929 | +738% |
| Deferred charges and accrued income | 490/1 | €337 | €2,802 | +€2,465 | +732% |
| Total equity and liabilities | 10/49 | €31,591 | €37,925 | +€6,334 | +20.0% |
| Equity | 10/15 | €16,824 | €31,883 | +€15,060 | +89.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €11,824 | €26,883 | +€15,060 | +127% |
| Amounts payable | 17/49 | €14,768 | €6,041 | -€8,726 | -59.1% |
| Amounts payable after more than one year | 17 | €676 | - | -€676 | |
| Financial debts | 170/4 | €676 | - | -€676 | |
| Amounts payable within one year | 42/48 | €14,092 | €5,623 | -€8,468 | -60.1% |
| Current portion of amounts payable after more than one year | 42 | €7,258 | €676 | -€6,582 | -90.7% |
| Trade debts | 44 | €1,216 | €1,094 | -€122 | -10.0% |
| Suppliers | 440/4 | €1,216 | €1,094 | -€122 | -10.0% |
| Advances received on contracts in progress | 46 | €500 | - | -€500 | |
| Taxes, remuneration and social security | 45 | €2,681 | €1,112 | -€1,569 | -58.5% |
| Taxes | 450/3 | €1,481 | €1,112 | -€369 | -24.9% |
| Remuneration and social security | 454/9 | €1,200 | - | -€1,200 | |
| Other amounts payable | 47/48 | €2,437 | €2,742 | +€305 | +12.5% |
| Accrued charges and deferred income | 492/3 | - | €418 | +€418 | |
| Remuneration, social security and pensions | 62 | €1,631 | €4,467 | +€2,836 | +174% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,471 | €6,353 | +€2,883 | +83.0% |
| Other operating charges | 640/8 | €118 | €677 | +€559 | +473% |
| Gross operating margin | 9900 | €21,839 | €32,672 | +€10,833 | +49.6% |
| Operating profit (loss) | 9901 | €16,619 | €21,175 | +€4,555 | +27.4% |
| Financial income | 75/76B | €24 | €109 | +€84 | +345% |
| Recurring financial income | 75 | €24 | €109 | +€84 | +345% |
| Financial charges | 65/66B | €406 | €440 | +€34 | +8.3% |
| Recurring financial charges | 65 | €406 | €440 | +€34 | +8.3% |
| Profit (loss) for the period before taxes | 9903 | €16,238 | €20,844 | +€4,606 | +28.4% |
| Income taxes | 67/77 | €3,581 | €4,951 | +€1,370 | +38.3% |
| Profit (loss) for the period | 9904 | €12,657 | €15,893 | +€3,236 | +25.6% |
| Profit (loss) for the period to be appropriated | 9905 | €12,657 | €15,893 | +€3,236 | +25.6% |
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.