DB MUTE: what changed
Two fiscal 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.
DB MUTE
Largest movements
- Receivables within one year +€81,749
up €81,749 (+69.9%), from €116,939 to €198,688
of which Trade receivables: +€80,618
- Current investments -€36,015
down €36,015 (-97.0%), from €37,127 to €1,112
- Cash +€26,572
up €26,572 (+70.8%), from €37,516 to €64,088
mainly Trade debts (+€39,774) and Other debts (+€37,580)
- Tangible fixed assets -€3,351
down €3,351 (-12.3%), from €27,143 to €23,792
of which Furniture and vehicles: -€2,932
- Trade debts +€39,774
up €39,774 (+312.5%), from €12,727 to €52,501
- Other debts +€37,580
up €37,580 (+732.0%), from €5,134 to €42,714
- Debts after one year -€6,239
down €6,239 (-36.0%), from €17,353 to €11,114
- Gross operating margin +€44,195
up €44,195 (+90.8%), from €48,698 to €92,893
- Other operating charges -€3,531
down €3,531 (-61.2%), from €5,767 to €2,236
- Depreciation +€3,226
up €3,226 (+82.5%), from €3,910 to €7,136
- Staff costs +€1,461
up €1,461 (+1.8%), from €79,929 to €81,390
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 | €228,677 | €299,082 | +€70,405 | +30.8% |
| Fixed assets | 21/28 | €27,206 | €23,855 | -€3,351 | -12.3% |
| Tangible fixed assets | 22/27 | €27,143 | €23,792 | -€3,351 | -12.3% |
| Plant, machinery and equipment | 23 | €649 | €230 | -€419 | -64.6% |
| Furniture and vehicles | 24 | €26,494 | €23,562 | -€2,932 | -11.1% |
| Financial fixed assets | 28 | €63 | €63 | +€1 | +0.8% |
| Current assets | 29/58 | €201,471 | €275,227 | +€73,756 | +36.6% |
| Stocks and contracts in progress | 3 | €8,000 | €8,000 | = | 0.0% |
| Stocks | 30/36 | €8,000 | €8,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €116,939 | €198,688 | +€81,749 | +69.9% |
| Trade receivables | 40 | €114,182 | €194,800 | +€80,618 | +70.6% |
| Other amounts receivable | 41 | €2,757 | €3,888 | +€1,131 | +41.0% |
| Current investments | 50/53 | €37,127 | €1,112 | -€36,015 | -97.0% |
| Cash at bank and in hand | 54/58 | €37,516 | €64,088 | +€26,572 | +70.8% |
| Deferred charges and accrued income | 490/1 | €1,889 | €3,339 | +€1,450 | +76.7% |
| Total equity and liabilities | 10/49 | €228,677 | €299,082 | +€70,405 | +30.8% |
| Equity | 10/15 | €161,519 | €162,755 | +€1,236 | +0.8% |
| Contributions | 10/11 | €263,075 | €263,075 | -€0 | 0.0% |
| Capital | 10 | €263,075 | €263,075 | -€0 | 0.0% |
| Issued capital | 100 | €263,075 | €263,075 | -€0 | 0.0% |
| Reserves | 13 | €10,000 | €10,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | - | €10,000 | +€10,000 | |
| Other | 1319 | €10,000 | - | -€10,000 | |
| Profit (loss) carried forward | 14 | -€111,556 | -€110,320 | +€1,236 | +1.1% |
| Amounts payable | 17/49 | €67,158 | €136,327 | +€69,169 | +103.0% |
| Amounts payable after more than one year | 17 | €17,353 | €11,114 | -€6,239 | -36.0% |
| Financial debts | 170/4 | €17,353 | €11,114 | -€6,239 | -36.0% |
| Amounts payable within one year | 42/48 | €48,105 | €124,745 | +€76,640 | +159.3% |
| Current portion of amounts payable after more than one year | 42 | €5,936 | €6,239 | +€303 | +5.1% |
| Trade debts | 44 | €12,727 | €52,501 | +€39,774 | +312.5% |
| Suppliers | 440/4 | €12,727 | €52,501 | +€39,774 | +312.5% |
| Taxes, remuneration and social security | 45 | €24,308 | €23,291 | -€1,017 | -4.2% |
| Taxes | 450/3 | €5,462 | €12,114 | +€6,652 | +121.8% |
| Remuneration and social security | 454/9 | €18,847 | €11,177 | -€7,670 | -40.7% |
| Other amounts payable | 47/48 | €5,134 | €42,714 | +€37,580 | +732.0% |
| Accrued charges and deferred income | 492/3 | €1,700 | €468 | -€1,232 | -72.5% |
| Remuneration, social security and pensions | 62 | €79,929 | €81,390 | +€1,461 | +1.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,910 | €7,136 | +€3,226 | +82.5% |
| Other operating charges | 640/8 | €5,767 | €2,236 | -€3,531 | -61.2% |
| Non-recurring operating charges | 66A | €443 | €344 | -€99 | -22.4% |
| Gross operating margin | 9900 | €48,698 | €92,893 | +€44,195 | +90.8% |
| Operating profit (loss) | 9901 | -€41,351 | €1,787 | +€43,138 | |
| Financial income | 75/76B | €128 | €908 | +€780 | +606.9% |
| Recurring financial income | 75 | €128 | €908 | +€780 | +606.9% |
| Financial charges | 65/66B | €1,534 | €948 | -€586 | -38.2% |
| Recurring financial charges | 65 | €1,534 | €948 | -€586 | -38.2% |
| Profit (loss) for the period before taxes | 9903 | -€42,757 | €1,747 | +€44,504 | |
| Income taxes | 67/77 | €519 | €511 | -€8 | -1.5% |
| Profit (loss) for the period | 9904 | -€43,276 | €1,236 | +€44,512 | |
| Profit (loss) for the period to be appropriated | 9905 | -€43,276 | €1,236 | +€44,512 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.