Muchas Gracias: 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.
Muchas Gracias
Largest movements
- Tangible fixed assets +€86,599
up €86,599 (+291%), from €29,730 to €116,329
of which Leasing and similar rights: +€78,037
- Receivables within one year +€27,227
up €27,227 (+84.4%), from €32,278 to €59,505
of which Other amounts receivable: +€45,141
- Cash +€7,156
up €7,156 (+12.8%), from €56,075 to €63,231
mainly Net result for the year (+€71,577) and Debts after one year (+€61,530)
- Deferred charges and accrued income -€3,121
down €3,121 (-95.4%), from €3,273 to €152
- Reserves +€71,577
up €71,577 (+97.9%), from €73,138 to €144,716
- Debts after one year +€61,530
new in 2025: €61,530
- Trade debts -€30,514
down €30,514 (-98.9%), from €30,855 to €341
- Current portion of long-term debt +€18,280
new in 2025: €18,280
- Gross operating margin +€31,635
up €31,635 (+34.1%), from €92,700 to €124,336
- Depreciation +€30,728
up €30,728 (+112,845%), from €27 to €30,755
- Financial charges +€3,004
up €3,004 (+240,358%), from €1 to €3,006
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 | €121,455 | €239,297 | +€117,841 | +97.0% |
| Fixed assets | 21/28 | €29,830 | €116,409 | +€86,579 | +290% |
| Intangible fixed assets | 21 | €100 | €80 | -€20 | -20.0% |
| Tangible fixed assets | 22/27 | €29,730 | €116,329 | +€86,599 | +291% |
| Furniture and vehicles | 24 | €29,730 | €19,811 | -€9,919 | -33.4% |
| Leasing and similar rights | 25 | - | €78,037 | +€78,037 | |
| Other tangible fixed assets | 26 | - | €18,481 | +€18,481 | |
| Current assets | 29/58 | €91,626 | €122,887 | +€31,262 | +34.1% |
| Amounts receivable within one year | 40/41 | €32,278 | €59,505 | +€27,227 | +84.4% |
| Trade receivables | 40 | €31,662 | €13,748 | -€17,914 | -56.6% |
| Other amounts receivable | 41 | €616 | €45,757 | +€45,141 | +7,324% |
| Cash at bank and in hand | 54/58 | €56,075 | €63,231 | +€7,156 | +12.8% |
| Deferred charges and accrued income | 490/1 | €3,273 | €152 | -€3,121 | -95.4% |
| Total equity and liabilities | 10/49 | €121,455 | €239,297 | +€117,841 | +97.0% |
| Equity | 10/15 | €77,138 | €148,716 | +€71,577 | +92.8% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €73,138 | €144,716 | +€71,577 | +97.9% |
| Distributable reserves | 133 | €73,138 | €144,716 | +€71,577 | +97.9% |
| Amounts payable | 17/49 | €44,317 | €90,581 | +€46,264 | +104% |
| Amounts payable after more than one year | 17 | - | €61,530 | +€61,530 | |
| Financial debts | 170/4 | - | €61,530 | +€61,530 | |
| Amounts payable within one year | 42/48 | €44,317 | €29,050 | -€15,267 | -34.4% |
| Current portion of amounts payable after more than one year | 42 | - | €18,280 | +€18,280 | |
| Financial debts | 43 | €1,513 | €88 | -€1,425 | -94.2% |
| Credit institutions | 430/8 | €1,513 | €88 | -€1,425 | -94.2% |
| Trade debts | 44 | €30,855 | €341 | -€30,514 | -98.9% |
| Suppliers | 440/4 | €30,855 | €341 | -€30,514 | -98.9% |
| Taxes, remuneration and social security | 45 | €9,788 | €10,342 | +€554 | +5.7% |
| Taxes | 450/3 | €9,788 | €10,342 | +€554 | +5.7% |
| Other amounts payable | 47/48 | €2,161 | €0 | -€2,161 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27 | €30,755 | +€30,728 | +112,845% |
| Other operating charges | 640/8 | €150 | €1,142 | +€992 | +661% |
| Gross operating margin | 9900 | €92,700 | €124,336 | +€31,635 | +34.1% |
| Operating profit (loss) | 9901 | €92,523 | €92,439 | -€84 | -0.1% |
| Financial income | 75/76B | - | €1,218 | +€1,218 | |
| Recurring financial income | 75 | - | €1,218 | +€1,218 | |
| Financial charges | 65/66B | €1 | €3,006 | +€3,004 | +240,358% |
| Recurring financial charges | 65 | €1 | €3,006 | +€3,004 | +240,358% |
| Profit (loss) for the period before taxes | 9903 | €92,522 | €90,652 | -€1,870 | -2.0% |
| Income taxes | 67/77 | €19,384 | €19,074 | -€309 | -1.6% |
| Profit (loss) for the period | 9904 | €73,138 | €71,577 | -€1,561 | -2.1% |
| Profit (loss) for the period to be appropriated | 9905 | €73,138 | €71,577 | -€1,561 | -2.1% |
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.