MUCC: 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.
MUCC
Largest movements
- Deferred charges and accrued income +€2.0m
up €2.0m (+2977.9%), from €65,576 to €2.0m
- Receivables within one year -€1.6m
down €1.6m (-32.9%), from €4.8m to €3.2m
of which Other amounts receivable: -€1.8m
- Tangible fixed assets -€1.2m
down €1.2m (-8.2%), from €14.8m to €13.6m
- Trade debts -€2.4m
down €2.4m (-87.6%), from €2.8m to €340,240
- Profit (loss) carried forward +€905,561
up €905,561 (+77.1%), from -€1.2m to -€268,801
- Accrued charges and deferred income +€488,456
up €488,456 (+74.1%), from €659,293 to €1.1m
- Other operating charges -€1.0m
down €1.0m (-40.2%), from €2.6m to €1.5m
- Gross operating margin +€875,984
up €875,984 (+31.3%), from €2.8m to €3.7m
- Write-downs -€138,268
no longer reported in 2025 (was €138,268)
- Financial charges -€44,115
down €44,115 (-26.3%), from €167,842 to €123,726
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 | €20,100,407 | €19,114,635 | -€985,773 | -4.9% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €14,823,833 | €13,610,508 | -€1.2m | -8.2% |
| Tangible fixed assets | 22/27 | €14,823,463 | €13,610,138 | -€1.2m | -8.2% |
| Land and buildings | 22 | €14,823,463 | €13,610,138 | -€1.2m | -8.2% |
| Financial fixed assets | 28 | €370 | €370 | = | 0.0% |
| Current assets | 29/58 | €5,276,575 | €5,504,127 | +€227,552 | +4.3% |
| Amounts receivable within one year | 40/41 | €4,807,894 | €3,228,351 | -€1.6m | -32.9% |
| Trade receivables | 40 | €1,143,689 | €1,318,937 | +€175,249 | +15.3% |
| Other amounts receivable | 41 | €3,664,205 | €1,909,414 | -€1.8m | -47.9% |
| Cash at bank and in hand | 54/58 | €403,105 | €257,374 | -€145,730 | -36.2% |
| Deferred charges and accrued income | 490/1 | €65,576 | €2,018,401 | +€2.0m | +2977.9% |
| Total equity and liabilities | 10/49 | €20,100,407 | €19,114,635 | -€985,773 | -4.9% |
| Equity | 10/15 | €13,036,317 | €13,941,878 | +€905,561 | +6.9% |
| Contributions | 10/11 | €13,000,000 | €13,000,000 | = | 0.0% |
| Capital | 10 | €13,000,000 | €13,000,000 | = | 0.0% |
| Issued capital | 100 | €13,000,000 | €13,000,000 | = | 0.0% |
| Reserves | 13 | €1,210,679 | €1,210,679 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,210,679 | €1,210,679 | = | 0.0% |
| Legal reserve | 130 | €1,210,679 | €1,210,679 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,174,362 | -€268,801 | +€905,561 | +77.1% |
| Amounts payable | 17/49 | €7,064,090 | €5,172,756 | -€1.9m | -26.8% |
| Amounts payable after more than one year | 17 | €167,564 | €147,564 | -€20,000 | -11.9% |
| Other amounts payable | 178/9 | €167,564 | €147,564 | -€20,000 | -11.9% |
| Amounts payable within one year | 42/48 | €6,237,233 | €3,877,443 | -€2.4m | -37.8% |
| Financial debts | 43 | €2,964,000 | €2,964,000 | = | 0.0% |
| Credit institutions | 430/8 | €2,964,000 | €2,964,000 | = | 0.0% |
| Trade debts | 44 | €2,751,937 | €340,240 | -€2.4m | -87.6% |
| Suppliers | 440/4 | €2,751,937 | €340,240 | -€2.4m | -87.6% |
| Taxes, remuneration and social security | 45 | €287 | €49,067 | +€48,780 | +16989.9% |
| Taxes | 450/3 | €287 | €49,067 | +€48,780 | +16989.9% |
| Other amounts payable | 47/48 | €521,008 | €524,136 | +€3,128 | +0.6% |
| Accrued charges and deferred income | 492/3 | €659,293 | €1,147,749 | +€488,456 | +74.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,217,421 | €1,213,324 | -€4,097 | -0.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €138,268 | - | -€138,268 | |
| Other operating charges | 640/8 | €2,588,246 | €1,546,517 | -€1.0m | -40.2% |
| Gross operating margin | 9900 | €2,798,562 | €3,674,546 | +€875,984 | +31.3% |
| Operating profit (loss) | 9901 | -€1,145,373 | €914,705 | +€2.1m | |
| Financial income | 75/76B | €131,952 | €114,583 | -€17,369 | -13.2% |
| Recurring financial income | 75 | €131,952 | €114,583 | -€17,369 | -13.2% |
| Financial charges | 65/66B | €167,842 | €123,726 | -€44,115 | -26.3% |
| Recurring financial charges | 65 | €167,842 | €123,726 | -€44,115 | -26.3% |
| Profit (loss) for the period before taxes | 9903 | -€1,181,262 | €905,561 | +€2.1m | |
| Income taxes | 67/77 | -€681 | - | +€681 | |
| Profit (loss) for the period | 9904 | -€1,180,582 | €905,561 | +€2.1m | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,180,582 | €905,561 | +€2.1m |
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 9 October 2026 via checked.be.