DE MUNCK: 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.
DE MUNCK
Largest movements
- Cash -€96,604
down €96,604 (-47.0%), from €205,469 to €108,864
mainly Contributions, distributions and other (-€531,000) and Receivables within one year (-€90,111)
- Receivables within one year +€90,111
up €90,111 (+804.2%), from €11,204 to €101,315
of which Other amounts receivable: +€69,407
- Tangible fixed assets -€72,398
down €72,398 (-14.3%), from €505,343 to €432,945
of which Furniture and vehicles: -€40,819
- Stocks and contracts +€38,041
up €38,041 (+11.0%), from €345,233 to €383,274
- Reserves -€377,323
down €377,323 (-37.5%), from €1.0m to €629,404
of which Distributable reserves: -€375,000
- Other debts +€372,007
up €372,007 (+280.2%), from €132,757 to €504,764
- Tax, wage and social debts -€53,980
down €53,980 (-34.1%), from €158,270 to €104,291
of which Taxes: -€45,389
- Trade debts +€26,415
up €26,415 (+83.7%), from €31,575 to €57,990
- Gross operating margin -€83,715
down €83,715 (-10.4%), from €801,767 to €718,052
- Staff costs +€40,263
up €40,263 (+10.6%), from €380,602 to €420,864
- Taxes -€33,357
down €33,357 (-32.3%), from €103,166 to €69,809
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 | €1,724,419 | €1,670,396 | -€54,023 | -3.1% |
| Fixed assets | 21/28 | €510,202 | €440,471 | -€69,731 | -13.7% |
| Intangible fixed assets | 21 | €4,858 | €7,526 | +€2,667 | +54.9% |
| Tangible fixed assets | 22/27 | €505,343 | €432,945 | -€72,398 | -14.3% |
| Land and buildings | 22 | €327,509 | €305,270 | -€22,239 | -6.8% |
| Plant, machinery and equipment | 23 | €84,449 | €75,109 | -€9,340 | -11.1% |
| Furniture and vehicles | 24 | €93,385 | €52,567 | -€40,819 | -43.7% |
| Current assets | 29/58 | €1,214,217 | €1,229,925 | +€15,707 | +1.3% |
| Stocks and contracts in progress | 3 | €345,233 | €383,274 | +€38,041 | +11.0% |
| Stocks | 30/36 | €345,233 | €383,274 | +€38,041 | +11.0% |
| Amounts receivable within one year | 40/41 | €11,204 | €101,315 | +€90,111 | +804.2% |
| Trade receivables | 40 | €7,452 | €28,156 | +€20,703 | +277.8% |
| Other amounts receivable | 41 | €3,752 | €73,160 | +€69,407 | +1849.7% |
| Current investments | 50/53 | €635,000 | €620,000 | -€15,000 | -2.4% |
| Cash at bank and in hand | 54/58 | €205,469 | €108,864 | -€96,604 | -47.0% |
| Deferred charges and accrued income | 490/1 | €17,311 | €16,471 | -€841 | -4.9% |
| Total equity and liabilities | 10/49 | €1,724,419 | €1,670,396 | -€54,023 | -3.1% |
| Equity | 10/15 | €1,319,529 | €942,971 | -€376,557 | -28.5% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €1,006,727 | €629,404 | -€377,323 | -37.5% |
| Tax-exempt reserves | 132 | €13,935 | €11,613 | -€2,323 | -16.7% |
| Distributable reserves | 133 | €992,792 | €617,792 | -€375,000 | -37.8% |
| Profit (loss) carried forward | 14 | €287,802 | €288,567 | +€765 | +0.3% |
| Provisions and deferred taxes | 16 | €5,972 | €4,977 | -€995 | -16.7% |
| Deferred taxes | 168 | €5,972 | €4,977 | -€995 | -16.7% |
| Amounts payable | 17/49 | €398,918 | €722,447 | +€323,529 | +81.1% |
| Amounts payable after more than one year | 17 | €46,170 | €36,790 | -€9,380 | -20.3% |
| Financial debts | 170/4 | €46,170 | €36,790 | -€9,380 | -20.3% |
| Amounts payable within one year | 42/48 | €352,748 | €685,658 | +€332,910 | +94.4% |
| Current portion of amounts payable after more than one year | 42 | €30,146 | €18,614 | -€11,532 | -38.3% |
| Trade debts | 44 | €31,575 | €57,990 | +€26,415 | +83.7% |
| Suppliers | 440/4 | €31,575 | €57,990 | +€26,415 | +83.7% |
| Taxes, remuneration and social security | 45 | €158,270 | €104,291 | -€53,980 | -34.1% |
| Taxes | 450/3 | €113,033 | €67,645 | -€45,389 | -40.2% |
| Remuneration and social security | 454/9 | €45,237 | €36,646 | -€8,591 | -19.0% |
| Other amounts payable | 47/48 | €132,757 | €504,764 | +€372,007 | +280.2% |
| Remuneration, social security and pensions | 62 | €380,602 | €420,864 | +€40,263 | +10.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €86,606 | €79,822 | -€6,784 | -7.8% |
| Other operating charges | 640/8 | €24,588 | €22,942 | -€1,646 | -6.7% |
| Gross operating margin | 9900 | €801,767 | €718,052 | -€83,715 | -10.4% |
| Operating profit (loss) | 9901 | €309,972 | €194,425 | -€115,547 | -37.3% |
| Financial income | 75/76B | €23,384 | €28,829 | +€5,445 | +23.3% |
| Recurring financial income | 75 | €23,384 | €28,829 | +€5,445 | +23.3% |
| Financial charges | 65/66B | €3,102 | -€2 | -€3,103 | |
| Recurring financial charges | 65 | €3,102 | -€2 | -€3,103 | |
| Profit (loss) for the period before taxes | 9903 | €330,255 | €223,256 | -€106,999 | -32.4% |
| Transfer from deferred taxes | 780 | €995 | €995 | = | 0.0% |
| Income taxes | 67/77 | €103,166 | €69,809 | -€33,357 | -32.3% |
| Profit (loss) for the period | 9904 | €228,084 | €154,443 | -€73,642 | -32.3% |
| Transfer from tax-exempt reserves | 789 | €2,323 | €2,323 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €230,407 | €156,765 | -€73,642 | -32.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.