MUBEA SYSTEMS: 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.
What changed
MUBEA SYSTEMS
NACE 28.410, Manufacture of machinery and equipment not elsewhere classified
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€814,311
2024 · €290,218-€1.1m
Equity
-€1.0m
2024 · -€208,084-€814,311
Cash
€2,098
2024 · €11,971-€9,872
Balance sheet total
€2.7m
2024 · €3.3m-€582,942
Largest movements
Assets
- Receivables within one year -€305,596
down €305,596 (-32.1%), from €952,624 to €647,028
of which Trade receivables: -€318,954
- Intangible fixed assets -€231,959
down €231,959 (-52.0%), from €445,921 to €213,962
Equity and liabilities
- Profit (loss) carried forward -€814,311
down €814,311 (-84.1%), from -€967,732 to -€1.8m
- Trade debts +€464,918
up €464,918 (+32.3%), from €1.4m to €1.9m
- Debts after one year -€395,907
down €395,907 (-98.7%), from €401,211 to €5,304
- Other debts +€290,726
up €290,726 (+34.1%), from €852,838 to €1.1m
- Advances received -€45,000
down €45,000 (-100%), from €45,000 to €0
Income statement
- Gross operating margin -€1.3m
down €1.3m, from €1.1m to -€158,743
- Staff costs -€134,230
down €134,230 (-29.4%), from €456,707 to €322,477
- Other operating charges +€54,842
up €54,842 (+1,886%), from €2,907 to €57,749
- Financial charges -€52,773
down €52,773 (-54.5%), from €96,846 to €44,073
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.
Result 2024
€290,218
Gross operating margin
-€1.3m
Staff costs
+€134,230
Depreciation
+€1,816
Other operating charges
-€54,842
Other operating items
+€20,000
Financial income
-€3,155
Financial charges
+€52,773
Taxes
+€4,993
Result 2025
-€814,311
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€420,111
Investment
€0
Financing
-€429,983
Cash 2024
€11,971
From operations (derived)
+€420,111
Net result for the year
-€814,311
Depreciation
+€235,698
Stocks and contracts
+€30,826
Receivables within one year
+€305,596
Deferred charges and accrued income
+€951
Trade debts
+€464,918
Tax, wage and social debts
-€42,217
Advances received
-€45,000
Other debts
+€290,726
Accrued charges and deferred income
-€7,075
Financing
-€429,983
Debts after one year
-€395,907
Current portion of long-term debt
-€12,606
Short-term financial debts
-€21,470
Cash 2025
€2,098
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,288,229 | €2,705,287 | -€582,942 | -17.7% |
| Fixed assets | 21/28 | €454,787 | €219,090 | -€235,698 | -51.8% |
| Intangible fixed assets | 21 | €445,921 | €213,962 | -€231,959 | -52.0% |
| Tangible fixed assets | 22/27 | €8,866 | €5,128 | -€3,738 | -42.2% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €6,315 | €2,773 | -€3,542 | -56.1% |
| Other tangible fixed assets | 26 | €2,551 | €2,354 | -€196 | -7.7% |
| Current assets | 29/58 | €2,833,442 | €2,486,198 | -€347,245 | -12.3% |
| Stocks and contracts in progress | 3 | €1,866,304 | €1,835,478 | -€30,826 | -1.7% |
| Stocks | 30/36 | €1,866,304 | €1,835,478 | -€30,826 | -1.7% |
| Amounts receivable within one year | 40/41 | €952,624 | €647,028 | -€305,596 | -32.1% |
| Trade receivables | 40 | €930,543 | €611,589 | -€318,954 | -34.3% |
| Other amounts receivable | 41 | €22,081 | €35,439 | +€13,358 | +60.5% |
| Cash at bank and in hand | 54/58 | €11,971 | €2,098 | -€9,872 | -82.5% |
| Deferred charges and accrued income | 490/1 | €2,544 | €1,593 | -€951 | -37.4% |
| Total equity and liabilities | 10/49 | €3,288,229 | €2,705,287 | -€582,942 | -17.7% |
| Equity | 10/15 | -€208,084 | -€1,022,396 | -€814,311 | -391% |
| Contributions | 10/11 | €750,000 | €750,000 | = | 0.0% |
| Capital | 10 | €750,000 | €750,000 | = | 0.0% |
| Issued capital | 100 | €750,000 | €750,000 | = | 0.0% |
| Reserves | 13 | €9,648 | €9,648 | = | 0.0% |
| Non-distributable reserves | 130/1 | €9,648 | €9,648 | = | 0.0% |
| Legal reserve | 130 | €9,648 | €9,648 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€967,732 | -€1,782,044 | -€814,311 | -84.1% |
| Amounts payable | 17/49 | €3,496,314 | €3,727,683 | +€231,369 | +6.6% |
| Amounts payable after more than one year | 17 | €401,211 | €5,304 | -€395,907 | -98.7% |
| Financial debts | 170/4 | €401,211 | €5,304 | -€395,907 | -98.7% |
| Amounts payable within one year | 42/48 | €3,031,284 | €3,665,635 | +€634,351 | +20.9% |
| Current portion of amounts payable after more than one year | 42 | €75,062 | €62,456 | -€12,606 | -16.8% |
| Financial debts | 43 | €527,083 | €505,613 | -€21,470 | -4.1% |
| Credit institutions | 430/8 | €527,083 | €505,613 | -€21,470 | -4.1% |
| Trade debts | 44 | €1,439,426 | €1,904,344 | +€464,918 | +32.3% |
| Suppliers | 440/4 | €1,439,426 | €1,904,344 | +€464,918 | +32.3% |
| Advances received on contracts in progress | 46 | €45,000 | €0 | -€45,000 | -100% |
| Taxes, remuneration and social security | 45 | €91,874 | €49,657 | -€42,217 | -46.0% |
| Taxes | 450/3 | €6,509 | €2,522 | -€3,987 | -61.2% |
| Remuneration and social security | 454/9 | €85,365 | €47,135 | -€38,230 | -44.8% |
| Other amounts payable | 47/48 | €852,838 | €1,143,565 | +€290,726 | +34.1% |
| Accrued charges and deferred income | 492/3 | €63,819 | €56,744 | -€7,075 | -11.1% |
| Non-recurring operating income | 76A | €65,807 | €6,264 | -€59,543 | -90.5% |
| Remuneration, social security and pensions | 62 | €456,707 | €322,477 | -€134,230 | -29.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €237,513 | €235,698 | -€1,816 | -0.8% |
| Other operating charges | 640/8 | €2,907 | €57,749 | +€54,842 | +1,886% |
| Non-recurring operating charges | 66A | €20,000 | €0 | -€20,000 | -100% |
| Gross operating margin | 9900 | €1,101,602 | -€158,743 | -€1.3m | |
| Operating profit (loss) | 9901 | €384,475 | -€774,666 | -€1.2m | |
| Financial income | 75/76B | €8,009 | €4,854 | -€3,155 | -39.4% |
| Recurring financial income | 75 | €8,009 | €4,854 | -€3,155 | -39.4% |
| Financial charges | 65/66B | €96,846 | €44,073 | -€52,773 | -54.5% |
| Recurring financial charges | 65 | €96,846 | €44,073 | -€52,773 | -54.5% |
| Profit (loss) for the period before taxes | 9903 | €295,638 | -€813,885 | -€1.1m | |
| Income taxes | 67/77 | €5,420 | €427 | -€4,993 | -92.1% |
| Profit (loss) for the period | 9904 | €290,218 | -€814,311 | -€1.1m | |
| Profit (loss) for the period to be appropriated | 9905 | €290,218 | -€814,311 | -€1.1m |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.