ALL MUTE: 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.
ALL MUTE
Largest movements
- Cash -€1,951
down €1,951 (-2.2%), from €86,891 to €84,940
mainly Debts after one year (-€11,225) and Trade debts (-€2,930)
- Deferred charges and accrued income +€1,854
up €1,854 (+247.3%), from €750 to €2,604
- Tangible fixed assets +€1,432
up €1,432 (+88.6%), from €1,617 to €3,049
- Reserves +€15,324
up €15,324 (+42.1%), from €36,382 to €51,705
- Debts after one year -€11,225
down €11,225 (-32.1%), from €35,000 to €23,775
- Trade debts -€2,930
down €2,930 (-93.2%), from €3,143 to €214
- Tax, wage and social debts +€1,050
up €1,050 (+22.7%), from €4,635 to €5,685
- Taxes +€7,833
up €7,833 (+177.6%), from €4,411 to €12,244
- Gross operating margin +€4,987
up €4,987 (+20.0%), from €24,987 to €29,974
- Financial income -€769
no longer reported in 2025 (was €769)
- Depreciation +€493
up €493 (+91.4%), from €539 to €1,032
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 | €95,532 | €97,785 | +€2,253 | +2.4% |
| Fixed assets | 21/28 | €1,617 | €3,049 | +€1,432 | +88.6% |
| Tangible fixed assets | 22/27 | €1,617 | €3,049 | +€1,432 | +88.6% |
| Furniture and vehicles | 24 | €1,617 | €3,049 | +€1,432 | +88.6% |
| Current assets | 29/58 | €93,915 | €94,736 | +€821 | +0.9% |
| Amounts receivable within one year | 40/41 | €6,274 | €7,191 | +€918 | +14.6% |
| Trade receivables | 40 | €6,274 | €6,496 | +€223 | +3.5% |
| Other amounts receivable | 41 | - | €695 | +€695 | |
| Cash at bank and in hand | 54/58 | €86,891 | €84,940 | -€1,951 | -2.2% |
| Deferred charges and accrued income | 490/1 | €750 | €2,604 | +€1,854 | +247.3% |
| Total equity and liabilities | 10/49 | €95,532 | €97,785 | +€2,253 | +2.4% |
| Equity | 10/15 | €48,782 | €64,105 | +€15,324 | +31.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €36,382 | €51,705 | +€15,324 | +42.1% |
| Distributable reserves | 133 | €36,382 | €51,705 | +€15,324 | +42.1% |
| Amounts payable | 17/49 | €46,750 | €33,680 | -€13,071 | -28.0% |
| Amounts payable after more than one year | 17 | €35,000 | €23,775 | -€11,225 | -32.1% |
| Other amounts payable | 178/9 | €35,000 | €23,775 | -€11,225 | -32.1% |
| Amounts payable within one year | 42/48 | €11,703 | €9,592 | -€2,111 | -18.0% |
| Financial debts | 43 | €161 | €250 | +€89 | +55.2% |
| Credit institutions | 430/8 | €161 | €250 | +€89 | +55.2% |
| Trade debts | 44 | €3,143 | €214 | -€2,930 | -93.2% |
| Suppliers | 440/4 | €3,143 | €214 | -€2,930 | -93.2% |
| Taxes, remuneration and social security | 45 | €4,635 | €5,685 | +€1,050 | +22.7% |
| Taxes | 450/3 | €4,635 | €5,685 | +€1,050 | +22.7% |
| Other amounts payable | 47/48 | €3,763 | €3,444 | -€320 | -8.5% |
| Accrued charges and deferred income | 492/3 | €48 | €312 | +€265 | +556.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €539 | €1,032 | +€493 | +91.4% |
| Other operating charges | 640/8 | €726 | €975 | +€250 | +34.4% |
| Gross operating margin | 9900 | €24,987 | €29,974 | +€4,987 | +20.0% |
| Operating profit (loss) | 9901 | €23,723 | €27,967 | +€4,244 | +17.9% |
| Financial income | 75/76B | €769 | - | -€769 | |
| Recurring financial income | 75 | €769 | - | -€769 | |
| Financial charges | 65/66B | €192 | €400 | +€208 | +108.4% |
| Recurring financial charges | 65 | €192 | €400 | +€208 | +108.4% |
| Profit (loss) for the period before taxes | 9903 | €24,300 | €27,567 | +€3,267 | +13.4% |
| Income taxes | 67/77 | €4,411 | €12,244 | +€7,833 | +177.6% |
| Profit (loss) for the period | 9904 | €19,889 | €15,324 | -€4,565 | -23.0% |
| Profit (loss) for the period to be appropriated | 9905 | €19,889 | €15,324 | -€4,565 | -23.0% |
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 9 October 2026 via checked.be.