MOUTARD: 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.
MOUTARD
Largest movements
- Cash -€35,600
down €35,600 (-68.8%), from €51,768 to €16,168
mainly Contributions, distributions and other (-€82,961) and Other debts (-€38,367)
- Receivables within one year -€5,949
down €5,949 (-72.5%), from €8,208 to €2,259
of which Other amounts receivable: -€5,860
- Deferred charges and accrued income +€2,821
up €2,821 (+9.7%), from €29,160 to €31,981
- Other debts -€38,367
down €38,367 (-84.0%), from €45,653 to €7,286
- Profit (loss) carried forward -€4,293
down €4,293 (-9.4%), from €45,572 to €41,279
- Tax, wage and social debts +€3,488
up €3,488 (+68.1%), from €5,120 to €8,609
of which Taxes: +€3,470
- Gross operating margin +€48,732
up €48,732 (+79.6%), from €61,195 to €109,927
- Taxes +€10,631
up €10,631 (+86.9%), from €12,239 to €22,870
- Depreciation +€1,714
up €1,714 (+36.5%), from €4,696 to €6,410
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 | €102,119 | €62,516 | -€39,602 | -38.8% |
| Fixed assets | 21/28 | €12,982 | €12,108 | -€874 | -6.7% |
| Tangible fixed assets | 22/27 | €11,782 | €10,908 | -€874 | -7.4% |
| Furniture and vehicles | 24 | €9,690 | €9,030 | -€661 | -6.8% |
| Other tangible fixed assets | 26 | €2,092 | €1,879 | -€213 | -10.2% |
| Financial fixed assets | 28 | €1,200 | €1,200 | = | 0.0% |
| Current assets | 29/58 | €89,136 | €50,408 | -€38,728 | -43.4% |
| Amounts receivable within one year | 40/41 | €8,208 | €2,259 | -€5,949 | -72.5% |
| Trade receivables | 40 | €218 | €129 | -€89 | -40.8% |
| Other amounts receivable | 41 | €7,990 | €2,130 | -€5,860 | -73.3% |
| Cash at bank and in hand | 54/58 | €51,768 | €16,168 | -€35,600 | -68.8% |
| Deferred charges and accrued income | 490/1 | €29,160 | €31,981 | +€2,821 | +9.7% |
| Total equity and liabilities | 10/49 | €102,119 | €62,516 | -€39,602 | -38.8% |
| Equity | 10/15 | €49,572 | €45,279 | -€4,293 | -8.7% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €45,572 | €41,279 | -€4,293 | -9.4% |
| Amounts payable | 17/49 | €52,547 | €17,238 | -€35,309 | -67.2% |
| Amounts payable within one year | 42/48 | €52,547 | €17,238 | -€35,309 | -67.2% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €1,773 | €1,343 | -€430 | -24.3% |
| Suppliers | 440/4 | €1,773 | €1,343 | -€430 | -24.3% |
| Taxes, remuneration and social security | 45 | €5,120 | €8,609 | +€3,488 | +68.1% |
| Taxes | 450/3 | - | €3,470 | +€3,470 | |
| Remuneration and social security | 454/9 | €5,120 | €5,138 | +€18 | +0.4% |
| Other amounts payable | 47/48 | €45,653 | €7,286 | -€38,367 | -84.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,696 | €6,410 | +€1,714 | +36.5% |
| Other operating charges | 640/8 | €49 | €728 | +€679 | +1392.4% |
| Gross operating margin | 9900 | €61,195 | €109,927 | +€48,732 | +79.6% |
| Operating profit (loss) | 9901 | €56,451 | €102,790 | +€46,339 | +82.1% |
| Financial income | 75/76B | €0 | €12 | +€12 | +115200.0% |
| Recurring financial income | 75 | €0 | €12 | +€12 | +115200.0% |
| Financial charges | 65/66B | €972 | €1,264 | +€292 | +30.1% |
| Recurring financial charges | 65 | €972 | €1,264 | +€292 | +30.1% |
| Profit (loss) for the period before taxes | 9903 | €55,479 | €101,537 | +€46,058 | +83.0% |
| Income taxes | 67/77 | €12,239 | €22,870 | +€10,631 | +86.9% |
| Profit (loss) for the period | 9904 | €43,240 | €78,667 | +€35,427 | +81.9% |
| Profit (loss) for the period to be appropriated | 9905 | €43,240 | €78,667 | +€35,427 | +81.9% |
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 7 October 2026 via checked.be.