GROEP MUYTERS: 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.
GROEP MUYTERS
Largest movements
- Cash +€45,014
up €45,014 (+47.0%), from €95,729 to €140,744
mainly Net result for the year (+€45,009) and Depreciation (+€20,070)
- Receivables within one year -€12,271
down €12,271 (-10.7%), from €114,904 to €102,633
- Tangible fixed assets +€4,840
up €4,840 (+4.9%), from €99,529 to €104,369
of which Furniture and vehicles: +€7,586
- Reserves +€45,009
up €45,009 (+20.3%), from €221,245 to €266,254
of which Distributable reserves: +€45,009
- Tax, wage and social debts -€6,219
down €6,219 (-30.5%), from €20,377 to €14,159
of which Remuneration and social security: -€4,590
- Trade debts -€6,217
down €6,217 (-13.5%), from €46,059 to €39,841
- Other debts +€5,307
up €5,307 (+129%), from €4,103 to €9,410
- Gross operating margin +€41,688
up €41,688 (+29.7%), from €140,375 to €182,063
- Taxes +€8,371
up €8,371 (+206%), from €4,054 to €12,425
- Depreciation -€7,942
down €7,942 (-28.4%), from €28,012 to €20,070
- Staff costs +€6,826
up €6,826 (+7.1%), from €96,448 to €103,274
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 | €316,800 | €354,680 | +€37,880 | +12.0% |
| Fixed assets | 21/28 | €99,529 | €104,369 | +€4,840 | +4.9% |
| Tangible fixed assets | 22/27 | €99,529 | €104,369 | +€4,840 | +4.9% |
| Land and buildings | 22 | €9,378 | €7,305 | -€2,073 | -22.1% |
| Plant, machinery and equipment | 23 | €4,681 | €7,235 | +€2,554 | +54.6% |
| Furniture and vehicles | 24 | €58,796 | €66,381 | +€7,586 | +12.9% |
| Other tangible fixed assets | 26 | €26,674 | €23,448 | -€3,226 | -12.1% |
| Current assets | 29/58 | €217,271 | €250,311 | +€33,040 | +15.2% |
| Amounts receivable within one year | 40/41 | €114,904 | €102,633 | -€12,271 | -10.7% |
| Trade receivables | 40 | €114,904 | €102,633 | -€12,271 | -10.7% |
| Cash at bank and in hand | 54/58 | €95,729 | €140,744 | +€45,014 | +47.0% |
| Deferred charges and accrued income | 490/1 | €6,638 | €6,935 | +€297 | +4.5% |
| Total equity and liabilities | 10/49 | €316,800 | €354,680 | +€37,880 | +12.0% |
| Equity | 10/15 | €246,261 | €291,270 | +€45,009 | +18.3% |
| Contributions | 10/11 | €25,016 | €25,016 | = | 0.0% |
| Reserves | 13 | €221,245 | €266,254 | +€45,009 | +20.3% |
| Tax-exempt reserves | 132 | €30,500 | €30,500 | = | 0.0% |
| Distributable reserves | 133 | €190,745 | €235,754 | +€45,009 | +23.6% |
| Amounts payable | 17/49 | €70,539 | €63,410 | -€7,129 | -10.1% |
| Amounts payable within one year | 42/48 | €70,539 | €63,410 | -€7,129 | -10.1% |
| Trade debts | 44 | €46,059 | €39,841 | -€6,217 | -13.5% |
| Suppliers | 440/4 | €46,059 | €39,841 | -€6,217 | -13.5% |
| Taxes, remuneration and social security | 45 | €20,377 | €14,159 | -€6,219 | -30.5% |
| Taxes | 450/3 | €4,054 | €2,425 | -€1,629 | -40.2% |
| Remuneration and social security | 454/9 | €16,323 | €11,733 | -€4,590 | -28.1% |
| Other amounts payable | 47/48 | €4,103 | €9,410 | +€5,307 | +129% |
| Non-recurring operating income | 76A | €4,455 | €17,811 | +€13,355 | +300% |
| Remuneration, social security and pensions | 62 | €96,448 | €103,274 | +€6,826 | +7.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,012 | €20,070 | -€7,942 | -28.4% |
| Other operating charges | 640/8 | €53 | €63 | +€10 | +19.7% |
| Gross operating margin | 9900 | €140,375 | €182,063 | +€41,688 | +29.7% |
| Operating profit (loss) | 9901 | €15,862 | €58,655 | +€42,793 | +270% |
| Financial income | 75/76B | €554 | €0 | -€554 | -100.0% |
| Recurring financial income | 75 | €554 | €0 | -€554 | -100.0% |
| Financial charges | 65/66B | €1,191 | €1,220 | +€30 | +2.5% |
| Recurring financial charges | 65 | €1,191 | €1,220 | +€30 | +2.5% |
| Profit (loss) for the period before taxes | 9903 | €15,225 | €57,434 | +€42,209 | +277% |
| Income taxes | 67/77 | €4,054 | €12,425 | +€8,371 | +206% |
| Profit (loss) for the period | 9904 | €11,171 | €45,009 | +€33,838 | +303% |
| Profit (loss) for the period to be appropriated | 9905 | €11,171 | €45,009 | +€33,838 | +303% |
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 26 October 2026 via checked.be.