DE MUUR: 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.
DE MUUR
Largest movements
- Receivables within one year -€44,835
down €44,835 (-57.4%), from €78,108 to €33,272
of which Trade receivables: -€28,259
- Tangible fixed assets +€21,920
up €21,920 (+29.1%), from €75,416 to €97,336
of which Furniture and vehicles: +€32,494
- Cash +€6,299
up €6,299 (+2.6%), from €243,504 to €249,803
mainly Receivables within one year (+€44,835) and Depreciation (+€27,636)
- Short-term financial debts -€13,882
down €13,882 (-100%), from €13,882 to €0
- Trade debts +€11,292
up €11,292 (+199%), from €5,681 to €16,973
- Tax, wage and social debts -€7,698
down €7,698 (-98.4%), from €7,823 to €125
of which Taxes: -€7,323
- Gross operating margin -€21,315
down €21,315 (-34.9%), from €61,086 to €39,771
- Taxes -€3,854
down €3,854 (-85.9%), from €4,487 to €633
- Financial charges -€1,847
down €1,847 (-17.6%), from €10,470 to €8,622
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 | €416,672 | €402,343 | -€14,329 | -3.4% |
| Fixed assets | 21/28 | €75,589 | €97,509 | +€21,920 | +29.0% |
| Tangible fixed assets | 22/27 | €75,416 | €97,336 | +€21,920 | +29.1% |
| Plant, machinery and equipment | 23 | €2,703 | €2,800 | +€98 | +3.6% |
| Furniture and vehicles | 24 | €8,156 | €40,650 | +€32,494 | +398% |
| Other tangible fixed assets | 26 | €64,557 | €53,885 | -€10,672 | -16.5% |
| Financial fixed assets | 28 | €174 | €174 | = | 0.0% |
| Current assets | 29/58 | €341,082 | €304,833 | -€36,249 | -10.6% |
| Stocks and contracts in progress | 3 | €11,353 | €10,760 | -€593 | -5.2% |
| Stocks | 30/36 | €11,353 | €10,760 | -€593 | -5.2% |
| Amounts receivable within one year | 40/41 | €78,108 | €33,272 | -€44,835 | -57.4% |
| Trade receivables | 40 | €55,368 | €27,109 | -€28,259 | -51.0% |
| Other amounts receivable | 41 | €22,740 | €6,164 | -€16,576 | -72.9% |
| Cash at bank and in hand | 54/58 | €243,504 | €249,803 | +€6,299 | +2.6% |
| Deferred charges and accrued income | 490/1 | €8,117 | €10,997 | +€2,880 | +35.5% |
| Total equity and liabilities | 10/49 | €416,672 | €402,343 | -€14,329 | -3.4% |
| Equity | 10/15 | €275,694 | €276,765 | +€1,071 | +0.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €257,102 | €258,173 | +€1,071 | +0.4% |
| Tax-exempt reserves | 132 | €30,000 | €30,000 | = | 0.0% |
| Distributable reserves | 133 | €227,102 | €228,173 | +€1,071 | +0.5% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €140,978 | €125,578 | -€15,400 | -10.9% |
| Amounts payable within one year | 42/48 | €130,707 | €117,518 | -€13,189 | -10.1% |
| Financial debts | 43 | €13,882 | €0 | -€13,882 | -100% |
| Other loans | 439 | €13,882 | €0 | -€13,882 | -100% |
| Trade debts | 44 | €5,681 | €16,973 | +€11,292 | +199% |
| Suppliers | 440/4 | €5,681 | €16,973 | +€11,292 | +199% |
| Taxes, remuneration and social security | 45 | €7,823 | €125 | -€7,698 | -98.4% |
| Taxes | 450/3 | €7,323 | €0 | -€7,323 | -100% |
| Remuneration and social security | 454/9 | €500 | €125 | -€375 | -75.0% |
| Other amounts payable | 47/48 | €103,321 | €100,420 | -€2,902 | -2.8% |
| Accrued charges and deferred income | 492/3 | €10,271 | €8,060 | -€2,211 | -21.5% |
| Non-recurring operating income | 76A | €2,000 | €826 | -€1,174 | -58.7% |
| Remuneration, social security and pensions | 62 | €217 | €231 | +€15 | +6.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,771 | €27,636 | -€135 | -0.5% |
| Other operating charges | 640/8 | €2,326 | €2,250 | -€76 | -3.3% |
| Non-recurring operating charges | 66A | €2,989 | €4 | -€2,985 | -99.9% |
| Gross operating margin | 9900 | €61,086 | €39,771 | -€21,315 | -34.9% |
| Operating profit (loss) | 9901 | €27,784 | €9,650 | -€18,134 | -65.3% |
| Financial income | 75/76B | €1,098 | €676 | -€422 | -38.4% |
| Recurring financial income | 75 | €1,098 | €676 | -€422 | -38.4% |
| Financial charges | 65/66B | €10,470 | €8,622 | -€1,847 | -17.6% |
| Recurring financial charges | 65 | €10,470 | €8,622 | -€1,847 | -17.6% |
| Profit (loss) for the period before taxes | 9903 | €18,413 | €1,704 | -€16,709 | -90.7% |
| Income taxes | 67/77 | €4,487 | €633 | -€3,854 | -85.9% |
| Profit (loss) for the period | 9904 | €13,926 | €1,071 | -€12,855 | -92.3% |
| Profit (loss) for the period to be appropriated | 9905 | €13,926 | €1,071 | -€12,855 | -92.3% |
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.