MU-Z: 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.
MU-Z
Largest movements
- Stocks and contracts -€23,054
down €23,054 (-100%), from €23,054 to €0
- Current investments +€16,769
up €16,769 (+8,062%), from €208 to €16,977
- Receivables within one year +€11,815
up €11,815 (+200%), from €5,910 to €17,725
of which Trade receivables: +€17,681
- Tangible fixed assets -€383
down €383 (-28.9%), from €1,324 to €941
- Trade debts -€11,117
down €11,117 (-88.4%), from €12,572 to €1,455
- Other debts +€8,909
up €8,909 (+28.9%), from €30,880 to €39,789
- Profit (loss) carried forward +€7,118
up €7,118 (+38.1%), from -€18,661 to -€11,543
- Turnover +€66,472
up €66,472 (+9,131%), from €728 to €67,200
- Gross operating margin +€44,825
up €44,825, from -€1,792 to €43,033
- Purchases and services +€21,647
up €21,647 (+859%), from €2,520 to €24,167
- Write-downs +€19,304
up €19,304 (+515%), from €3,750 to €23,054
- Taxes +€12,127
new in 2024: €12,127
From the 2023 result to the 2024 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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €31,312 | €36,222 | +€4,910 | +15.7% |
| Formation expenses | 20 | €816 | €579 | -€237 | -29.0% |
| Fixed assets | 21/28 | €1,324 | €941 | -€383 | -28.9% |
| Tangible fixed assets | 22/27 | €1,324 | €941 | -€383 | -28.9% |
| Plant, machinery and equipment | 23 | €1,324 | €941 | -€383 | -28.9% |
| Current assets | 29/58 | €29,172 | €34,702 | +€5,530 | +19.0% |
| Stocks and contracts in progress | 3 | €23,054 | €0 | -€23,054 | -100% |
| Stocks | 30/36 | €23,054 | €0 | -€23,054 | -100% |
| Amounts receivable within one year | 40/41 | €5,910 | €17,725 | +€11,815 | +200% |
| Trade receivables | 40 | €44 | €17,725 | +€17,681 | +40,184% |
| Other amounts receivable | 41 | €5,866 | - | -€5,866 | |
| Current investments | 50/53 | €208 | €16,977 | +€16,769 | +8,062% |
| Total equity and liabilities | 10/49 | €31,312 | €36,222 | +€4,910 | +15.7% |
| Equity | 10/15 | -€12,140 | -€5,022 | +€7,118 | +58.6% |
| Contributions | 10/11 | €6,521 | €6,521 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€18,661 | -€11,543 | +€7,118 | +38.1% |
| Amounts payable | 17/49 | €43,452 | €41,244 | -€2,208 | -5.1% |
| Amounts payable within one year | 42/48 | €43,452 | €41,244 | -€2,208 | -5.1% |
| Trade debts | 44 | €12,572 | €1,455 | -€11,117 | -88.4% |
| Suppliers | 440/4 | €12,572 | €1,455 | -€11,117 | -88.4% |
| Other amounts payable | 47/48 | €30,880 | €39,789 | +€8,909 | +28.9% |
| Turnover | 70 | €728 | €67,200 | +€66,472 | +9,131% |
| Goods, raw materials, services and sundry goods | 60/61 | €2,520 | €24,167 | +€21,647 | +859% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €620 | €620 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,750 | €23,054 | +€19,304 | +515% |
| Other operating charges | 640/8 | €748 | - | -€748 | |
| Gross operating margin | 9900 | -€1,792 | €43,033 | +€44,825 | |
| Operating profit (loss) | 9901 | -€6,910 | €19,359 | +€26,269 | |
| Financial charges | 65/66B | €83 | €114 | +€31 | +37.3% |
| Recurring financial charges | 65 | €83 | €114 | +€31 | +37.3% |
| Profit (loss) for the period before taxes | 9903 | -€6,993 | €19,245 | +€26,238 | |
| Income taxes | 67/77 | - | €12,127 | +€12,127 | |
| Profit (loss) for the period | 9904 | -€6,993 | €7,118 | +€14,111 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,993 | €7,118 | +€14,111 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.