HET MUIKEN: 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.
HET MUIKEN
Largest movements
- Tangible fixed assets -€45,436
down €45,436 (-24.4%), from €186,004 to €140,568
of which Furniture and vehicles: -€35,344
- Receivables within one year -€14,900
down €14,900 (-9.9%), from €150,189 to €135,289
of which Trade receivables: -€20,525
- Cash -€7,306
down €7,306 (-42.6%), from €17,149 to €9,843
mainly Net result for the year (-€25,100) and Tax, wage and social debts (-€19,903)
- Reserves -€21,947
down €21,947 (-15.8%), from €138,589 to €116,642
of which Distributable reserves: -€21,947
- Tax, wage and social debts -€19,903
down €19,903 (-89.2%), from €22,320 to €2,417
of which Taxes: -€17,125
- Current portion of long-term debt -€12,689
down €12,689 (-56.5%), from €22,450 to €9,761
- Other debts +€10,081
up €10,081 (+10.6%), from €95,113 to €105,194
- Debts after one year -€9,761
down €9,761 (-26.5%), from €36,807 to €27,047
- Gross operating margin -€43,822
down €43,822 (-55.5%), from €78,998 to €35,176
- Depreciation +€19,427
up €19,427 (+71.2%), from €27,289 to €46,716
- Taxes -€14,090
down €14,090 (-96.3%), from €14,628 to €538
- Financial charges -€1,247
down €1,247 (-7.6%), from €16,339 to €15,092
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 | €586,733 | €517,834 | -€68,899 | -11.7% |
| Fixed assets | 21/28 | €412,766 | €367,330 | -€45,436 | -11.0% |
| Tangible fixed assets | 22/27 | €186,004 | €140,568 | -€45,436 | -24.4% |
| Land and buildings | 22 | €15,899 | €7,436 | -€8,463 | -53.2% |
| Furniture and vehicles | 24 | €156,842 | €121,498 | -€35,344 | -22.5% |
| Other tangible fixed assets | 26 | €13,263 | €11,633 | -€1,630 | -12.3% |
| Financial fixed assets | 28 | €226,762 | €226,762 | = | 0.0% |
| Current assets | 29/58 | €173,967 | €150,504 | -€23,462 | -13.5% |
| Amounts receivable within one year | 40/41 | €150,189 | €135,289 | -€14,900 | -9.9% |
| Trade receivables | 40 | €20,525 | €0 | -€20,525 | -100% |
| Other amounts receivable | 41 | €129,664 | €135,289 | +€5,625 | +4.3% |
| Cash at bank and in hand | 54/58 | €17,149 | €9,843 | -€7,306 | -42.6% |
| Deferred charges and accrued income | 490/1 | €6,628 | €5,372 | -€1,257 | -19.0% |
| Total equity and liabilities | 10/49 | €586,733 | €517,834 | -€68,899 | -11.7% |
| Equity | 10/15 | €250,739 | €225,639 | -€25,100 | -10.0% |
| Contributions | 10/11 | €112,150 | €112,150 | = | 0.0% |
| Reserves | 13 | €138,589 | €116,642 | -€21,947 | -15.8% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €138,589 | €116,642 | -€21,947 | -15.8% |
| Profit (loss) carried forward | 14 | €0 | -€3,153 | -€3,153 | |
| Amounts payable | 17/49 | €335,993 | €292,195 | -€43,798 | -13.0% |
| Amounts payable after more than one year | 17 | €36,807 | €27,047 | -€9,761 | -26.5% |
| Financial debts | 170/4 | €36,807 | €27,047 | -€9,761 | -26.5% |
| Amounts payable within one year | 42/48 | €296,822 | €264,727 | -€32,095 | -10.8% |
| Current portion of amounts payable after more than one year | 42 | €22,450 | €9,761 | -€12,689 | -56.5% |
| Financial debts | 43 | €142,026 | €140,000 | -€2,026 | -1.4% |
| Credit institutions | 430/8 | €142,026 | €140,000 | -€2,026 | -1.4% |
| Trade debts | 44 | €14,913 | €7,355 | -€7,558 | -50.7% |
| Suppliers | 440/4 | €14,913 | €7,355 | -€7,558 | -50.7% |
| Taxes, remuneration and social security | 45 | €22,320 | €2,417 | -€19,903 | -89.2% |
| Taxes | 450/3 | €19,543 | €2,417 | -€17,125 | -87.6% |
| Remuneration and social security | 454/9 | €2,778 | €0 | -€2,778 | -100% |
| Other amounts payable | 47/48 | €95,113 | €105,194 | +€10,081 | +10.6% |
| Accrued charges and deferred income | 492/3 | €2,364 | €421 | -€1,943 | -82.2% |
| Non-recurring operating income | 76A | €15,592 | €0 | -€15,592 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,289 | €46,716 | +€19,427 | +71.2% |
| Other operating charges | 640/8 | €3,302 | €3,673 | +€371 | +11.2% |
| Gross operating margin | 9900 | €78,998 | €35,176 | -€43,822 | -55.5% |
| Operating profit (loss) | 9901 | €48,408 | -€15,213 | -€63,620 | |
| Financial income | 75/76B | €5,633 | €5,742 | +€109 | +1.9% |
| Recurring financial income | 75 | €5,633 | €5,742 | +€109 | +1.9% |
| Financial charges | 65/66B | €16,339 | €15,092 | -€1,247 | -7.6% |
| Recurring financial charges | 65 | €16,339 | €15,092 | -€1,247 | -7.6% |
| Profit (loss) for the period before taxes | 9903 | €37,702 | -€24,563 | -€62,264 | |
| Income taxes | 67/77 | €14,628 | €538 | -€14,090 | -96.3% |
| Profit (loss) for the period | 9904 | €23,074 | -€25,100 | -€48,174 | |
| Profit (loss) for the period to be appropriated | 9905 | €23,074 | -€25,100 | -€48,174 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.