MOUT: 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.
MOUT
Largest movements
- Cash -€213,265
down €213,265 (-40.2%), from €530,589 to €317,324
mainly Contributions, distributions and other (-€340,541) and Other debts (-€20,458)
- Tangible fixed assets -€12,088
down €12,088 (-15.9%), from €75,864 to €63,776
of which Plant, machinery and equipment: -€9,877
- Receivables within one year +€8,845
up €8,845 (+81.0%), from €10,922 to €19,767
of which Other amounts receivable: +€9,140
- Reserves -€220,727
down €220,727 (-41.6%), from €530,267 to €309,540
- Tax, wage and social debts +€23,559
up €23,559 (+153.0%), from €15,401 to €38,961
of which Taxes: +€18,415
- Other debts -€20,458
down €20,458 (-46.1%), from €44,341 to €23,883
- Contributions +€12,400
up €12,400 (+200.0%), from €6,200 to €18,600
- Gross operating margin +€81,381
up €81,381 (+32.0%), from €253,982 to €335,363
- Staff costs +€28,434
up €28,434 (+27.4%), from €103,830 to €132,263
- Taxes +€12,901
up €12,901 (+43.2%), from €29,895 to €42,797
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 | €630,780 | €420,661 | -€210,118 | -33.3% |
| Fixed assets | 21/28 | €76,956 | €64,868 | -€12,088 | -15.7% |
| Tangible fixed assets | 22/27 | €75,864 | €63,776 | -€12,088 | -15.9% |
| Plant, machinery and equipment | 23 | €33,848 | €23,971 | -€9,877 | -29.2% |
| Furniture and vehicles | 24 | €9,998 | €8,683 | -€1,316 | -13.2% |
| Other tangible fixed assets | 26 | €32,018 | €31,123 | -€895 | -2.8% |
| Financial fixed assets | 28 | €1,092 | €1,092 | = | 0.0% |
| Current assets | 29/58 | €553,824 | €355,793 | -€198,031 | -35.8% |
| Stocks and contracts in progress | 3 | €9,611 | €13,924 | +€4,313 | +44.9% |
| Stocks | 30/36 | €9,611 | €13,924 | +€4,313 | +44.9% |
| Amounts receivable within one year | 40/41 | €10,922 | €19,767 | +€8,845 | +81.0% |
| Trade receivables | 40 | €1,291 | €997 | -€295 | -22.8% |
| Other amounts receivable | 41 | €9,630 | €18,771 | +€9,140 | +94.9% |
| Cash at bank and in hand | 54/58 | €530,589 | €317,324 | -€213,265 | -40.2% |
| Deferred charges and accrued income | 490/1 | €2,701 | €4,778 | +€2,077 | +76.9% |
| Total equity and liabilities | 10/49 | €630,780 | €420,661 | -€210,118 | -33.3% |
| Equity | 10/15 | €536,467 | €328,140 | -€208,327 | -38.8% |
| Contributions | 10/11 | €6,200 | €18,600 | +€12,400 | +200.0% |
| Reserves | 13 | €530,267 | €309,540 | -€220,727 | -41.6% |
| Distributable reserves | 133 | €530,267 | €309,540 | -€220,727 | -41.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €94,313 | €92,522 | -€1,791 | -1.9% |
| Amounts payable after more than one year | 17 | €2,803 | €217 | -€2,586 | -92.3% |
| Financial debts | 170/4 | €2,803 | €217 | -€2,586 | -92.3% |
| Amounts payable within one year | 42/48 | €87,585 | €88,793 | +€1,208 | +1.4% |
| Current portion of amounts payable after more than one year | 42 | €5,095 | €2,586 | -€2,509 | -49.2% |
| Financial debts | 43 | €18 | €277 | +€259 | +1438.2% |
| Credit institutions | 430/8 | €18 | €277 | +€259 | +1438.2% |
| Trade debts | 44 | €22,730 | €23,087 | +€357 | +1.6% |
| Suppliers | 440/4 | €22,730 | €23,087 | +€357 | +1.6% |
| Taxes, remuneration and social security | 45 | €15,401 | €38,961 | +€23,559 | +153.0% |
| Taxes | 450/3 | €2,529 | €20,943 | +€18,415 | +728.3% |
| Remuneration and social security | 454/9 | €12,873 | €18,017 | +€5,145 | +40.0% |
| Other amounts payable | 47/48 | €44,341 | €23,883 | -€20,458 | -46.1% |
| Accrued charges and deferred income | 492/3 | €3,924 | €3,511 | -€413 | -10.5% |
| Non-recurring operating income | 76A | - | €8,425 | +€8,425 | |
| Remuneration, social security and pensions | 62 | €103,830 | €132,263 | +€28,434 | +27.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,730 | €21,867 | +€2,137 | +10.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€3,073 | €0 | +€3,073 | |
| Other operating charges | 640/8 | €3,973 | €3,414 | -€559 | -14.1% |
| Non-recurring operating charges | 66A | €0 | €226 | +€226 | |
| Gross operating margin | 9900 | €253,982 | €335,363 | +€81,381 | +32.0% |
| Operating profit (loss) | 9901 | €129,524 | €177,594 | +€48,070 | +37.1% |
| Financial income | 75/76B | €148 | €24 | -€125 | -83.9% |
| Recurring financial income | 75 | €148 | €24 | -€125 | -83.9% |
| Financial charges | 65/66B | €2,763 | €2,607 | -€156 | -5.6% |
| Recurring financial charges | 65 | €2,763 | €2,607 | -€156 | -5.6% |
| Profit (loss) for the period before taxes | 9903 | €126,909 | €175,011 | +€48,101 | +37.9% |
| Income taxes | 67/77 | €29,895 | €42,797 | +€12,901 | +43.2% |
| Profit (loss) for the period | 9904 | €97,014 | €132,214 | +€35,200 | +36.3% |
| Profit (loss) for the period to be appropriated | 9905 | €97,014 | €132,214 | +€35,200 | +36.3% |
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 2 October 2026 via checked.be.