MUFI: 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.
MUFI
Largest movements
- Receivables within one year +€25,013
up €25,013 (+265.4%), from €9,424 to €34,437
of which Trade receivables: +€24,653
- Financial fixed assets +€2,800
up €2,800 (+1656.8%), from €169 to €2,969
- Intangible fixed assets -€2,276
no longer reported in 2024 (was €2,276)
- Tangible fixed assets +€667
up €667 (+52.8%), from €1,263 to €1,930
- Cash -€588
down €588 (-66.6%), from €883 to €295
mainly Receivables within one year (-€25,013) and Investment in fixed assets (net) (-€4,022)
- Tax, wage and social debts +€14,211
up €14,211 (+264.4%), from €5,375 to €19,586
- Trade debts +€6,686
new in 2024: €6,686
- Other debts +€2,545
up €2,545 (+45.4%), from €5,602 to €8,148
- Profit (loss) carried forward +€1,644
up €1,644 (+11.4%), from -€14,465 to -€12,821
- Gross operating margin +€8,694
up €8,694 (+73.4%), from €11,846 to €20,541
- Other operating charges +€6,837
up €6,837 (+385.9%), from €1,772 to €8,609
- Taxes +€6,354
up €6,354 (+1352.9%), from €470 to €6,824
- Depreciation -€2,260
down €2,260 (-44.4%), from €5,090 to €2,831
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €15,113 | €40,199 | +€25,086 | +166.0% |
| Fixed assets | 21/28 | €3,708 | €4,899 | +€1,192 | +32.1% |
| Intangible fixed assets | 21 | €2,276 | - | -€2,276 | |
| Tangible fixed assets | 22/27 | €1,263 | €1,930 | +€667 | +52.8% |
| Furniture and vehicles | 24 | €1,263 | €1,930 | +€667 | +52.8% |
| Financial fixed assets | 28 | €169 | €2,969 | +€2,800 | +1656.8% |
| Current assets | 29/58 | €11,405 | €35,300 | +€23,895 | +209.5% |
| Amounts receivable within one year | 40/41 | €9,424 | €34,437 | +€25,013 | +265.4% |
| Trade receivables | 40 | €9,033 | €33,686 | +€24,653 | +272.9% |
| Other amounts receivable | 41 | €392 | €751 | +€359 | +91.8% |
| Cash at bank and in hand | 54/58 | €883 | €295 | -€588 | -66.6% |
| Deferred charges and accrued income | 490/1 | €1,098 | €568 | -€530 | -48.3% |
| Total equity and liabilities | 10/49 | €15,113 | €40,199 | +€25,086 | +166.0% |
| Equity | 10/15 | €4,135 | €5,780 | +€1,644 | +39.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€14,465 | -€12,821 | +€1,644 | +11.4% |
| Amounts payable | 17/49 | €10,978 | €34,420 | +€23,442 | +213.5% |
| Amounts payable within one year | 42/48 | €10,978 | €34,420 | +€23,442 | +213.5% |
| Trade debts | 44 | - | €6,686 | +€6,686 | |
| Suppliers | 440/4 | - | €6,686 | +€6,686 | |
| Taxes, remuneration and social security | 45 | €5,375 | €19,586 | +€14,211 | +264.4% |
| Taxes | 450/3 | €5,375 | €19,586 | +€14,211 | +264.4% |
| Other amounts payable | 47/48 | €5,602 | €8,148 | +€2,545 | +45.4% |
| Remuneration, social security and pensions | 62 | - | €41 | +€41 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,090 | €2,831 | -€2,260 | -44.4% |
| Other operating charges | 640/8 | €1,772 | €8,609 | +€6,837 | +385.9% |
| Gross operating margin | 9900 | €11,846 | €20,541 | +€8,694 | +73.4% |
| Operating profit (loss) | 9901 | €4,985 | €9,061 | +€4,076 | +81.8% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €651 | €593 | -€59 | -9.0% |
| Recurring financial charges | 65 | €651 | €593 | -€59 | -9.0% |
| Profit (loss) for the period before taxes | 9903 | €4,333 | €8,468 | +€4,135 | +95.4% |
| Income taxes | 67/77 | €470 | €6,824 | +€6,354 | +1352.9% |
| Profit (loss) for the period | 9904 | €3,864 | €1,644 | -€2,219 | -57.4% |
| Profit (loss) for the period to be appropriated | 9905 | €3,864 | €1,644 | -€2,219 | -57.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.