EL MOUCH: 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.
EL MOUCH
Largest movements
- Current investments +€95,341
new in 2025: €95,341
- Cash -€51,793
down €51,793 (-55.9%), from €92,721 to €40,928
mainly Current investments (-€95,341) and Contributions, distributions and other (-€29,000)
- Receivables within one year -€24,252
down €24,252 (-13.8%), from €175,411 to €151,159
of which Other amounts receivable: -€22,246
- Tax, wage and social debts +€12,733
up €12,733 (+57.7%), from €22,079 to €34,812
of which Remuneration and social security: +€9,783
- Reserves +€9,000
up €9,000 (+6.2%), from €145,000 to €154,000
of which Distributable reserves: +€9,000
- Gross operating margin -€13,809
down €13,809 (-18.7%), from €73,669 to €59,860
- Taxes -€4,379
down €4,379 (-19.9%), from €22,024 to €17,645
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 | €287,773 | €309,728 | +€21,955 | +7.6% |
| Fixed assets | 21/28 | €19,641 | €21,654 | +€2,013 | +10.2% |
| Tangible fixed assets | 22/27 | €19,641 | €21,654 | +€2,013 | +10.2% |
| Land and buildings | 22 | €17,406 | €16,555 | -€851 | -4.9% |
| Furniture and vehicles | 24 | €2,084 | €5,099 | +€3,015 | +144.7% |
| Other tangible fixed assets | 26 | €151 | - | -€151 | |
| Current assets | 29/58 | €268,132 | €288,074 | +€19,942 | +7.4% |
| Amounts receivable within one year | 40/41 | €175,411 | €151,159 | -€24,252 | -13.8% |
| Trade receivables | 40 | €6,241 | €4,235 | -€2,006 | -32.1% |
| Other amounts receivable | 41 | €169,170 | €146,924 | -€22,246 | -13.2% |
| Current investments | 50/53 | - | €95,341 | +€95,341 | |
| Cash at bank and in hand | 54/58 | €92,721 | €40,928 | -€51,793 | -55.9% |
| Deferred charges and accrued income | 490/1 | - | €646 | +€646 | |
| Total equity and liabilities | 10/49 | €287,773 | €309,728 | +€21,955 | +7.6% |
| Equity | 10/15 | €257,300 | €267,243 | +€9,943 | +3.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €145,000 | €154,000 | +€9,000 | +6.2% |
| Tax-exempt reserves | 132 | €9,000 | €9,000 | = | 0.0% |
| Distributable reserves | 133 | €136,000 | €145,000 | +€9,000 | +6.6% |
| Profit (loss) carried forward | 14 | €92,300 | €93,243 | +€943 | +1.0% |
| Amounts payable | 17/49 | €30,473 | €42,485 | +€12,012 | +39.4% |
| Amounts payable within one year | 42/48 | €30,473 | €42,485 | +€12,012 | +39.4% |
| Trade debts | 44 | €467 | €674 | +€207 | +44.3% |
| Suppliers | 440/4 | €467 | €674 | +€207 | +44.3% |
| Taxes, remuneration and social security | 45 | €22,079 | €34,812 | +€12,733 | +57.7% |
| Taxes | 450/3 | €19,404 | €22,354 | +€2,950 | +15.2% |
| Remuneration and social security | 454/9 | €2,675 | €12,458 | +€9,783 | +365.7% |
| Other amounts payable | 47/48 | €7,927 | €6,999 | -€928 | -11.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,587 | €2,087 | -€500 | -19.3% |
| Other operating charges | 640/8 | €508 | €874 | +€366 | +72.0% |
| Gross operating margin | 9900 | €73,669 | €59,860 | -€13,809 | -18.7% |
| Operating profit (loss) | 9901 | €70,574 | €56,899 | -€13,675 | -19.4% |
| Financial charges | 65/66B | €117 | €311 | +€194 | +165.8% |
| Recurring financial charges | 65 | €117 | €311 | +€194 | +165.8% |
| Profit (loss) for the period before taxes | 9903 | €70,457 | €56,588 | -€13,869 | -19.7% |
| Income taxes | 67/77 | €22,024 | €17,645 | -€4,379 | -19.9% |
| Profit (loss) for the period | 9904 | €48,433 | €38,943 | -€9,490 | -19.6% |
| Profit (loss) for the period to be appropriated | 9905 | €48,433 | €38,943 | -€9,490 | -19.6% |
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 4 October 2026 via checked.be.