MuBru: 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.
MuBru
Largest movements
- Receivables within one year -€46,457
down €46,457 (-47.6%), from €97,501 to €51,044
of which Trade receivables: -€46,457
- Cash +€16,598
up €16,598 (+27.3%), from €60,695 to €77,293
mainly Receivables within one year (+€46,457) and Net result for the year (+€43,306)
- Tangible fixed assets -€2,068
down €2,068 (-50.0%), from €4,137 to €2,068
of which Other tangible fixed assets: -€1,528
- Profit (loss) carried forward -€36,694
down €36,694 (-52.0%), from €70,560 to €33,866
- Tax, wage and social debts +€8,690
up €8,690 (+59.6%), from €14,581 to €23,272
- Other debts -€3,231
down €3,231 (-4.4%), from €73,177 to €69,946
- Gross operating margin -€35,002
down €35,002 (-36.6%), from €95,763 to €60,762
- Taxes -€6,639
down €6,639 (-32.9%), from €20,173 to €13,535
- Financial charges +€1,223
up €1,223, from -€1,064 to €159
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 | €163,818 | €132,128 | -€31,689 | -19.3% |
| Fixed assets | 21/28 | €4,137 | €2,068 | -€2,068 | -50.0% |
| Tangible fixed assets | 22/27 | €4,137 | €2,068 | -€2,068 | -50.0% |
| Furniture and vehicles | 24 | €540 | - | -€540 | |
| Other tangible fixed assets | 26 | €3,597 | €2,068 | -€1,528 | -42.5% |
| Current assets | 29/58 | €159,681 | €130,060 | -€29,621 | -18.6% |
| Amounts receivable within one year | 40/41 | €97,501 | €51,044 | -€46,457 | -47.6% |
| Trade receivables | 40 | €94,891 | €48,433 | -€46,457 | -49.0% |
| Other amounts receivable | 41 | €2,610 | €2,610 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €60,695 | €77,293 | +€16,598 | +27.3% |
| Deferred charges and accrued income | 490/1 | €1,485 | €1,723 | +€238 | +16.0% |
| Total equity and liabilities | 10/49 | €163,818 | €132,128 | -€31,689 | -19.3% |
| Equity | 10/15 | €75,560 | €38,866 | -€36,694 | -48.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €70,560 | €33,866 | -€36,694 | -52.0% |
| Amounts payable | 17/49 | €88,258 | €93,263 | +€5,005 | +5.7% |
| Amounts payable within one year | 42/48 | €88,258 | €93,218 | +€4,960 | +5.6% |
| Trade debts | 44 | €500 | €0 | -€500 | -100.0% |
| Suppliers | 440/4 | €500 | €0 | -€500 | -100.0% |
| Taxes, remuneration and social security | 45 | €14,581 | €23,272 | +€8,690 | +59.6% |
| Taxes | 450/3 | €14,581 | €23,272 | +€8,690 | +59.6% |
| Other amounts payable | 47/48 | €73,177 | €69,946 | -€3,231 | -4.4% |
| Accrued charges and deferred income | 492/3 | - | €45 | +€45 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,487 | €2,068 | -€418 | -16.8% |
| Other operating charges | 640/8 | €1,905 | €1,985 | +€80 | +4.2% |
| Gross operating margin | 9900 | €95,763 | €60,762 | -€35,002 | -36.6% |
| Operating profit (loss) | 9901 | €91,372 | €56,709 | -€34,663 | -37.9% |
| Financial income | 75/76B | €142 | €291 | +€149 | +105.0% |
| Recurring financial income | 75 | €142 | €291 | +€149 | +105.0% |
| Financial charges | 65/66B | -€1,064 | €159 | +€1,223 | |
| Recurring financial charges | 65 | -€1,064 | €159 | +€1,223 | |
| Profit (loss) for the period before taxes | 9903 | €92,577 | €56,840 | -€35,737 | -38.6% |
| Income taxes | 67/77 | €20,173 | €13,535 | -€6,639 | -32.9% |
| Profit (loss) for the period | 9904 | €72,404 | €43,306 | -€29,098 | -40.2% |
| Profit (loss) for the period to be appropriated | 9905 | €72,404 | €43,306 | -€29,098 | -40.2% |
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 5 October 2026 via checked.be.