FLEURY MUSHU: 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.
FLEURY MUSHU
Largest movements
- Cash +€65,232
up €65,232 (+65.2%), from €100,082 to €165,314
mainly Net result for the year (+€78,283) and Debts after one year (+€18,517)
- Tangible fixed assets +€39,983
up €39,983 (+198%), from €20,227 to €60,210
of which Furniture and vehicles: +€26,803
- Deferred charges and accrued income -€3,877
down €3,877 (-64.8%), from €5,984 to €2,107
- Stocks and contracts +€2,652
up €2,652 (+15.9%), from €16,722 to €19,375
- Profit (loss) carried forward +€77,450
up €77,450 (+87.7%), from €88,326 to €165,777
- Debts after one year +€18,517
up €18,517 (+256%), from €7,236 to €25,753
of which Financial debts: +€18,517
- Current portion of long-term debt +€9,503
up €9,503 (+280%), from €3,394 to €12,897
- Tax, wage and social debts -€2,724
down €2,724 (-18.9%), from €14,395 to €11,671
of which Taxes: -€4,042
- Gross operating margin +€34,304
up €34,304 (+31.0%), from €110,747 to €145,051
- Staff costs +€10,810
up €10,810 (+41.5%), from €26,021 to €36,831
- Taxes +€5,707
up €5,707 (+44.6%), from €12,797 to €18,504
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 | €148,323 | €249,429 | +€101,106 | +68.2% |
| Fixed assets | 21/28 | €21,192 | €60,525 | +€39,333 | +186% |
| Intangible fixed assets | 21 | €965 | €315 | -€650 | -67.4% |
| Tangible fixed assets | 22/27 | €20,227 | €60,210 | +€39,983 | +198% |
| Plant, machinery and equipment | 23 | €2,343 | €1,109 | -€1,234 | -52.7% |
| Furniture and vehicles | 24 | €15,360 | €42,162 | +€26,803 | +175% |
| Other tangible fixed assets | 26 | €2,524 | €16,939 | +€14,414 | +571% |
| Current assets | 29/58 | €127,131 | €188,904 | +€61,773 | +48.6% |
| Stocks and contracts in progress | 3 | €16,722 | €19,375 | +€2,652 | +15.9% |
| Stocks | 30/36 | €16,722 | €19,375 | +€2,652 | +15.9% |
| Amounts receivable within one year | 40/41 | €4,343 | €2,108 | -€2,234 | -51.5% |
| Trade receivables | 40 | €4,343 | €2,108 | -€2,234 | -51.5% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €100,082 | €165,314 | +€65,232 | +65.2% |
| Deferred charges and accrued income | 490/1 | €5,984 | €2,107 | -€3,877 | -64.8% |
| Total equity and liabilities | 10/49 | €148,323 | €249,429 | +€101,106 | +68.2% |
| Equity | 10/15 | €115,826 | €193,277 | +€77,450 | +66.9% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €25,000 | €25,000 | = | 0.0% |
| Distributable reserves | 133 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €88,326 | €165,777 | +€77,450 | +87.7% |
| Amounts payable | 17/49 | €32,497 | €56,153 | +€23,656 | +72.8% |
| Amounts payable after more than one year | 17 | €7,236 | €25,753 | +€18,517 | +256% |
| Financial debts | 170/4 | €7,236 | €25,753 | +€18,517 | +256% |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €25,250 | €30,399 | +€5,149 | +20.4% |
| Current portion of amounts payable after more than one year | 42 | €3,394 | €12,897 | +€9,503 | +280% |
| Trade debts | 44 | €5,588 | €3,405 | -€2,183 | -39.1% |
| Suppliers | 440/4 | €5,588 | €3,405 | -€2,183 | -39.1% |
| Taxes, remuneration and social security | 45 | €14,395 | €11,671 | -€2,724 | -18.9% |
| Taxes | 450/3 | €10,055 | €6,013 | -€4,042 | -40.2% |
| Remuneration and social security | 454/9 | €4,340 | €5,658 | +€1,318 | +30.4% |
| Other amounts payable | 47/48 | €1,873 | €2,427 | +€554 | +29.6% |
| Accrued charges and deferred income | 492/3 | €11 | €0 | -€11 | -100% |
| Remuneration, social security and pensions | 62 | €26,021 | €36,831 | +€10,810 | +41.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,543 | €7,636 | -€907 | -10.6% |
| Other operating charges | 640/8 | €643 | €403 | -€240 | -37.3% |
| Gross operating margin | 9900 | €110,747 | €145,051 | +€34,304 | +31.0% |
| Operating profit (loss) | 9901 | €75,541 | €100,181 | +€24,640 | +32.6% |
| Financial income | 75/76B | €50 | €66 | +€16 | +31.9% |
| Recurring financial income | 75 | €50 | €66 | +€16 | +31.9% |
| Financial charges | 65/66B | €2,270 | €3,461 | +€1,191 | +52.5% |
| Recurring financial charges | 65 | €2,270 | €3,461 | +€1,191 | +52.5% |
| Profit (loss) for the period before taxes | 9903 | €73,322 | €96,787 | +€23,465 | +32.0% |
| Income taxes | 67/77 | €12,797 | €18,504 | +€5,707 | +44.6% |
| Profit (loss) for the period | 9904 | €60,525 | €78,283 | +€17,758 | +29.3% |
| Profit (loss) for the period to be appropriated | 9905 | €60,525 | €78,283 | +€17,758 | +29.3% |
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 23 October 2026 via checked.be.