MUAZZAM: 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.
MUAZZAM
Largest movements
- Receivables within one year +€2,561
up €2,561 (+377%), from €679 to €3,239
of which Trade receivables: +€1,975
- Tangible fixed assets -€1,083
down €1,083 (-44.3%), from €2,443 to €1,359
- Cash -€560
down €560 (-81.9%), from €683 to €124
mainly Receivables within one year (-€2,561) and Other debts (-€1,000)
- Intangible fixed assets -€207
no longer reported in 2025 (was €207)
- Trade debts +€2,023
up €2,023 (+66.0%), from €3,064 to €5,087
- Other debts -€1,000
down €1,000 (-41.7%), from €2,396 to €1,396
- Profit (loss) carried forward -€312
down €312 (-9.0%), from -€3,448 to -€3,760
- Purchases and services -€6,202
down €6,202 (-73.3%), from €8,464 to €2,262
- Turnover -€6,128
down €6,128 (-61.0%), from €10,053 to €3,925
- Other operating charges -€494
down €494 (-48.7%), from €1,014 to €520
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 | €4,011 | €4,723 | +€711 | +17.7% |
| Fixed assets | 21/28 | €2,649 | €1,359 | -€1,290 | -48.7% |
| Intangible fixed assets | 21 | €207 | - | -€207 | |
| Tangible fixed assets | 22/27 | €2,443 | €1,359 | -€1,083 | -44.3% |
| Plant, machinery and equipment | 23 | €2,443 | €1,359 | -€1,083 | -44.3% |
| Current assets | 29/58 | €1,362 | €3,363 | +€2,001 | +147% |
| Amounts receivable within one year | 40/41 | €679 | €3,239 | +€2,561 | +377% |
| Trade receivables | 40 | - | €1,975 | +€1,975 | |
| Other amounts receivable | 41 | €679 | €1,264 | +€586 | +86.3% |
| Cash at bank and in hand | 54/58 | €683 | €124 | -€560 | -81.9% |
| Total equity and liabilities | 10/49 | €4,011 | €4,723 | +€711 | +17.7% |
| Equity | 10/15 | -€1,448 | -€1,760 | -€312 | -21.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,448 | -€3,760 | -€312 | -9.0% |
| Amounts payable | 17/49 | €5,460 | €6,483 | +€1,023 | +18.7% |
| Amounts payable within one year | 42/48 | €5,460 | €6,483 | +€1,023 | +18.7% |
| Trade debts | 44 | €3,064 | €5,087 | +€2,023 | +66.0% |
| Suppliers | 440/4 | €3,064 | €5,087 | +€2,023 | +66.0% |
| Other amounts payable | 47/48 | €2,396 | €1,396 | -€1,000 | -41.7% |
| Turnover | 70 | €10,053 | €3,925 | -€6,128 | -61.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €8,464 | €2,262 | -€6,202 | -73.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,231 | €1,290 | +€59 | +4.8% |
| Other operating charges | 640/8 | €1,014 | €520 | -€494 | -48.7% |
| Gross operating margin | 9900 | €1,589 | €1,663 | +€74 | +4.6% |
| Operating profit (loss) | 9901 | -€656 | -€147 | +€509 | +77.6% |
| Financial charges | 65/66B | €129 | €165 | +€36 | +28.2% |
| Recurring financial charges | 65 | €129 | €165 | +€36 | +28.2% |
| Profit (loss) for the period before taxes | 9903 | -€784 | -€312 | +€473 | +60.2% |
| Profit (loss) for the period | 9904 | -€784 | -€312 | +€473 | +60.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€784 | -€312 | +€473 | +60.2% |
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 16 October 2026 via checked.be.