ARMBRUSTER - MULLER: 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.
ARMBRUSTER - MULLER
Largest movements
- Cash +€22,418
new in 2025: €22,418
mainly Other debts (+€16,613) and Receivables within one year (+€10,391)
- Receivables within one year -€10,391
down €10,391 (-5.0%), from €208,912 to €198,521
of which Other amounts receivable: -€34,248
- Other debts +€16,613
up €16,613 (+15.0%), from €111,109 to €127,722
- Short-term financial debts -€14,145
no longer reported in 2025 (was €14,145)
- Profit (loss) carried forward +€7,909
up €7,909 (+17.6%), from €44,847 to €52,756
- Gross operating margin +€3,851
up €3,851 (+35.1%), from €10,960 to €14,811
- Financial charges +€2,159
up €2,159 (+103.2%), from €2,093 to €4,252
of which Financial charges: +€2,159
- Taxes +€400
up €400 (+17.8%), from €2,250 to €2,650
- Financial income -€153
no longer reported in 2025 (was €153)
of which Financial income: -€153
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 | €209,185 | €221,212 | +€12,027 | +5.7% |
| Fixed assets | 21/28 | €273 | €273 | = | 0.0% |
| Financial fixed assets | 28 | €273 | €273 | = | 0.0% |
| Current assets | 29/58 | €208,912 | €220,939 | +€12,027 | +5.8% |
| Amounts receivable within one year | 40/41 | €208,912 | €198,521 | -€10,391 | -5.0% |
| Trade receivables | 40 | €161,755 | €185,612 | +€23,857 | +14.7% |
| Other amounts receivable | 41 | €47,157 | €12,909 | -€34,248 | -72.6% |
| Cash at bank and in hand | 54/58 | - | €22,418 | +€22,418 | |
| Total equity and liabilities | 10/49 | €209,185 | €221,212 | +€12,027 | +5.7% |
| Equity | 10/15 | €66,847 | €74,756 | +€7,909 | +11.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €44,847 | €52,756 | +€7,909 | +17.6% |
| Amounts payable | 17/49 | €142,338 | €146,456 | +€4,118 | +2.9% |
| Amounts payable within one year | 42/48 | €142,338 | €146,456 | +€4,118 | +2.9% |
| Current portion of amounts payable after more than one year | 42 | €14,834 | €14,834 | = | 0.0% |
| Financial debts | 43 | €14,145 | - | -€14,145 | |
| Credit institutions | 430/8 | €14,145 | - | -€14,145 | |
| Taxes, remuneration and social security | 45 | €2,250 | €3,900 | +€1,650 | +73.3% |
| Taxes | 450/3 | €2,250 | €3,900 | +€1,650 | +73.3% |
| Other amounts payable | 47/48 | €111,109 | €127,722 | +€16,613 | +15.0% |
| Gross operating margin | 9900 | €10,960 | €14,811 | +€3,851 | +35.1% |
| Operating profit (loss) | 9901 | €10,960 | €14,811 | +€3,851 | +35.1% |
| Financial income | 75/76B | €153 | - | -€153 | |
| Recurring financial income | 75 | €153 | - | -€153 | |
| Non-recurring financial income | 76B | €153 | - | -€153 | |
| Financial charges | 65/66B | €2,093 | €4,252 | +€2,159 | +103.2% |
| Recurring financial charges | 65 | €2,093 | €4,252 | +€2,159 | +103.2% |
| Non-recurring financial charges | 66B | €2,093 | €4,252 | +€2,159 | +103.2% |
| Profit (loss) for the period before taxes | 9903 | €9,020 | €10,559 | +€1,539 | +17.1% |
| Income taxes | 67/77 | €2,250 | €2,650 | +€400 | +17.8% |
| Profit (loss) for the period | 9904 | €6,770 | €7,909 | +€1,139 | +16.8% |
| Profit (loss) for the period to be appropriated | 9905 | €6,770 | €7,909 | +€1,139 | +16.8% |
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.