MUBECO: 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.
MUBECO
Largest movements
- Receivables within one year -€73,255
down €73,255 (-34.7%), from €211,005 to €137,750
of which Other amounts receivable: -€83,689
- Tangible fixed assets +€16,924
up €16,924 (+195%), from €8,661 to €25,586
of which Furniture and vehicles: +€17,137
- Cash -€13,113
down €13,113 (-9.0%), from €146,489 to €133,376
mainly Contributions, distributions and other (-€130,697) and Other debts (-€37,534)
- Reserves -€50,000
down €50,000 (-17.1%), from €293,246 to €243,246
- Other debts -€37,534
no longer reported in 2025 (was €37,534)
- Accrued charges and deferred income +€21,969
new in 2025: €21,969
- Tax, wage and social debts -€3,673
down €3,673 (-11.7%), from €31,348 to €27,675
- Staff costs +€10,688
new in 2025: €10,688
- Taxes -€6,824
down €6,824 (-18.8%), from €36,245 to €29,421
- Financial income +€4,823
up €4,823 (+114%), from €4,221 to €9,044
- Gross operating margin -€3,482
down €3,482 (-2.9%), from €119,347 to €115,865
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 | €366,156 | €296,712 | -€69,444 | -19.0% |
| Fixed assets | 21/28 | €8,661 | €25,586 | +€16,924 | +195% |
| Tangible fixed assets | 22/27 | €8,661 | €25,586 | +€16,924 | +195% |
| Plant, machinery and equipment | 23 | - | €356 | +€356 | |
| Furniture and vehicles | 24 | €4,200 | €21,337 | +€17,137 | +408% |
| Other tangible fixed assets | 26 | €4,461 | €3,892 | -€569 | -12.7% |
| Current assets | 29/58 | €357,494 | €271,126 | -€86,368 | -24.2% |
| Amounts receivable within one year | 40/41 | €211,005 | €137,750 | -€73,255 | -34.7% |
| Trade receivables | 40 | €19,453 | €29,887 | +€10,434 | +53.6% |
| Other amounts receivable | 41 | €191,552 | €107,863 | -€83,689 | -43.7% |
| Cash at bank and in hand | 54/58 | €146,489 | €133,376 | -€13,113 | -9.0% |
| Total equity and liabilities | 10/49 | €366,156 | €296,712 | -€69,444 | -19.0% |
| Equity | 10/15 | €297,068 | €247,068 | -€50,000 | -16.8% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €293,246 | €243,246 | -€50,000 | -17.1% |
| Distributable reserves | 133 | €293,246 | €243,246 | -€50,000 | -17.1% |
| Profit (loss) carried forward | 14 | €1,322 | €1,322 | = | 0.0% |
| Amounts payable | 17/49 | €69,088 | €49,644 | -€19,444 | -28.1% |
| Amounts payable within one year | 42/48 | €69,088 | €27,675 | -€41,413 | -59.9% |
| Trade debts | 44 | €206 | - | -€206 | |
| Suppliers | 440/4 | €206 | - | -€206 | |
| Taxes, remuneration and social security | 45 | €31,348 | €27,675 | -€3,673 | -11.7% |
| Taxes | 450/3 | €31,348 | €27,675 | -€3,673 | -11.7% |
| Other amounts payable | 47/48 | €37,534 | - | -€37,534 | |
| Accrued charges and deferred income | 492/3 | - | €21,969 | +€21,969 | |
| Remuneration, social security and pensions | 62 | - | €10,688 | +€10,688 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,841 | €2,663 | +€822 | +44.7% |
| Other operating charges | 640/8 | €784 | €1,080 | +€295 | +37.6% |
| Gross operating margin | 9900 | €119,347 | €115,865 | -€3,482 | -2.9% |
| Operating profit (loss) | 9901 | €116,722 | €101,435 | -€15,287 | -13.1% |
| Financial income | 75/76B | €4,221 | €9,044 | +€4,823 | +114% |
| Recurring financial income | 75 | €4,221 | €9,044 | +€4,823 | +114% |
| Financial charges | 65/66B | €399 | €362 | -€37 | -9.3% |
| Recurring financial charges | 65 | €399 | €362 | -€37 | -9.3% |
| Profit (loss) for the period before taxes | 9903 | €120,544 | €110,118 | -€10,427 | -8.6% |
| Income taxes | 67/77 | €36,245 | €29,421 | -€6,824 | -18.8% |
| Profit (loss) for the period | 9904 | €84,300 | €80,697 | -€3,603 | -4.3% |
| Profit (loss) for the period to be appropriated | 9905 | €84,300 | €80,697 | -€3,603 | -4.3% |
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 21 October 2026 via checked.be.