MUFASO: 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.
MUFASO
Largest movements
- Tangible fixed assets +€38,276
up €38,276 (+278.7%), from €13,734 to €52,009
of which Furniture and vehicles: +€34,582
- Cash -€7,792
down €7,792 (-14.6%), from €53,350 to €45,558
mainly Investment in fixed assets (net) (-€46,855) and Trade debts (-€6,176)
- Receivables within one year +€1,242
up €1,242 (+14.1%), from €8,833 to €10,075
- Debts after one year +€20,683
up €20,683 (+303.3%), from €6,818 to €27,501
- Reserves +€7,783
up €7,783 (+28.6%), from €27,173 to €34,957
- Current portion of long-term debt +€6,982
up €6,982 (+315.1%), from €2,215 to €9,197
- Trade debts -€6,176
down €6,176 (-87.9%), from €7,022 to €846
- Other debts +€2,075
up €2,075 (+14.0%), from €14,867 to €16,942
- Depreciation +€7,675
up €7,675 (+848.7%), from €904 to €8,579
- Gross operating margin +€5,243
up €5,243 (+30.6%), from €17,127 to €22,370
- Financial charges +€1,922
up €1,922 (+262.6%), from €732 to €2,654
- Taxes -€1,357
down €1,357 (-30.3%), from €4,472 to €3,115
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 | €76,632 | €107,811 | +€31,179 | +40.7% |
| Fixed assets | 21/28 | €13,734 | €52,009 | +€38,276 | +278.7% |
| Tangible fixed assets | 22/27 | €13,734 | €52,009 | +€38,276 | +278.7% |
| Plant, machinery and equipment | 23 | - | €4,461 | +€4,461 | |
| Furniture and vehicles | 24 | €3,092 | €37,674 | +€34,582 | +1118.5% |
| Other tangible fixed assets | 26 | €10,642 | €9,874 | -€767 | -7.2% |
| Current assets | 29/58 | €62,898 | €55,802 | -€7,096 | -11.3% |
| Amounts receivable within one year | 40/41 | €8,833 | €10,075 | +€1,242 | +14.1% |
| Trade receivables | 40 | €8,833 | €10,075 | +€1,242 | +14.1% |
| Cash at bank and in hand | 54/58 | €53,350 | €45,558 | -€7,792 | -14.6% |
| Deferred charges and accrued income | 490/1 | €715 | €169 | -€546 | -76.3% |
| Total equity and liabilities | 10/49 | €76,632 | €107,811 | +€31,179 | +40.7% |
| Equity | 10/15 | €37,064 | €44,847 | +€7,783 | +21.0% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €27,173 | €34,957 | +€7,783 | +28.6% |
| Distributable reserves | 133 | €27,173 | €34,957 | +€7,783 | +28.6% |
| Profit (loss) carried forward | 14 | €7,391 | €7,391 | = | 0.0% |
| Amounts payable | 17/49 | €39,568 | €62,964 | +€23,396 | +59.1% |
| Amounts payable after more than one year | 17 | €6,818 | €27,501 | +€20,683 | +303.3% |
| Financial debts | 170/4 | €6,818 | €27,501 | +€20,683 | +303.3% |
| Amounts payable within one year | 42/48 | €32,750 | €35,463 | +€2,713 | +8.3% |
| Current portion of amounts payable after more than one year | 42 | €2,215 | €9,197 | +€6,982 | +315.1% |
| Trade debts | 44 | €7,022 | €846 | -€6,176 | -87.9% |
| Suppliers | 440/4 | €7,022 | €846 | -€6,176 | -87.9% |
| Taxes, remuneration and social security | 45 | €8,645 | €8,477 | -€168 | -1.9% |
| Taxes | 450/3 | €8,645 | €8,477 | -€168 | -1.9% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €14,867 | €16,942 | +€2,075 | +14.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €904 | €8,579 | +€7,675 | +848.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€520 | -€460 | +€60 | +11.5% |
| Other operating charges | 640/8 | €730 | €700 | -€30 | -4.1% |
| Gross operating margin | 9900 | €17,127 | €22,370 | +€5,243 | +30.6% |
| Operating profit (loss) | 9901 | €16,014 | €13,552 | -€2,462 | -15.4% |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €732 | €2,654 | +€1,922 | +262.6% |
| Recurring financial charges | 65 | €732 | €2,654 | +€1,922 | +262.6% |
| Profit (loss) for the period before taxes | 9903 | €15,281 | €10,898 | -€4,384 | -28.7% |
| Income taxes | 67/77 | €4,472 | €3,115 | -€1,357 | -30.3% |
| Profit (loss) for the period | 9904 | €10,810 | €7,783 | -€3,026 | -28.0% |
| Profit (loss) for the period to be appropriated | 9905 | €10,810 | €7,783 | -€3,026 | -28.0% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.