Mukarram: 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.
Mukarram
Largest movements
- Receivables within one year +€60,913
up €60,913 (+224.0%), from €27,190 to €88,103
of which Trade receivables: +€41,160
- Intangible fixed assets -€10,889
down €10,889 (-33.3%), from €32,667 to €21,778
- Tangible fixed assets -€1,770
down €1,770 (-23.9%), from €7,393 to €5,623
of which Furniture and vehicles: -€1,354
- Reserves +€52,337
new in 2025: €52,337
- Tax, wage and social debts -€8,122
down €8,122 (-27.2%), from €29,810 to €21,687
- Trade debts +€2,205
up €2,205 (+9.0%), from €24,600 to €26,804
- Advances received +€2,013
new in 2025: €2,013
- Gross operating margin +€109,189
up €109,189, from -€48,796 to €60,393
- Financial income -€31,337
down €31,337 (-96.5%), from €32,474 to €1,137
- Taxes -€6,706
new in 2025: -€6,706
- Financial charges +€869
up €869 (+56.4%), from €1,540 to €2,409
of which Financial charges: +€2,007
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 | €67,271 | €115,703 | +€48,432 | +72.0% |
| Fixed assets | 21/28 | €40,060 | €27,401 | -€12,659 | -31.6% |
| Intangible fixed assets | 21 | €32,667 | €21,778 | -€10,889 | -33.3% |
| Tangible fixed assets | 22/27 | €7,393 | €5,623 | -€1,770 | -23.9% |
| Land and buildings | 22 | €3,332 | €2,916 | -€417 | -12.5% |
| Furniture and vehicles | 24 | €4,061 | €2,707 | -€1,354 | -33.3% |
| Current assets | 29/58 | €27,211 | €88,302 | +€61,091 | +224.5% |
| Amounts receivable within one year | 40/41 | €27,190 | €88,103 | +€60,913 | +224.0% |
| Trade receivables | 40 | €10,637 | €51,797 | +€41,160 | +387.0% |
| Other amounts receivable | 41 | €16,553 | €36,305 | +€19,752 | +119.3% |
| Cash at bank and in hand | 54/58 | €21 | €199 | +€178 | +854.0% |
| Total equity and liabilities | 10/49 | €67,271 | €115,703 | +€48,432 | +72.0% |
| Equity | 10/15 | €12,861 | €65,198 | +€52,337 | +406.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | - | €52,337 | +€52,337 | |
| Distributable reserves | 133 | - | €52,337 | +€52,337 | |
| Profit (loss) carried forward | 14 | €7,861 | €7,861 | = | 0.0% |
| Amounts payable | 17/49 | €54,410 | €50,505 | -€3,905 | -7.2% |
| Amounts payable within one year | 42/48 | €54,410 | €50,505 | -€3,905 | -7.2% |
| Trade debts | 44 | €24,600 | €26,804 | +€2,205 | +9.0% |
| Suppliers | 440/4 | €24,600 | €26,804 | +€2,205 | +9.0% |
| Advances received on contracts in progress | 46 | - | €2,013 | +€2,013 | |
| Taxes, remuneration and social security | 45 | €29,810 | €21,687 | -€8,122 | -27.2% |
| Taxes | 450/3 | €29,810 | €21,687 | -€8,122 | -27.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,659 | €12,659 | = | 0.0% |
| Other operating charges | 640/8 | €488 | €831 | +€343 | +70.3% |
| Gross operating margin | 9900 | -€48,796 | €60,393 | +€109,189 | |
| Operating profit (loss) | 9901 | -€61,943 | €46,903 | +€108,846 | |
| Financial income | 75/76B | €32,474 | €1,137 | -€31,337 | -96.5% |
| Recurring financial income | 75 | €32,474 | €1,137 | -€31,337 | -96.5% |
| Financial charges | 65/66B | €1,540 | €2,409 | +€869 | +56.4% |
| Recurring financial charges | 65 | €402 | €2,409 | +€2,007 | +499.5% |
| Non-recurring financial charges | 66B | €1,139 | - | -€1,139 | |
| Profit (loss) for the period before taxes | 9903 | -€31,009 | €45,631 | +€76,640 | |
| Income taxes | 67/77 | - | -€6,706 | -€6,706 | |
| Profit (loss) for the period | 9904 | -€31,009 | €52,337 | +€83,346 | |
| Profit (loss) for the period to be appropriated | 9905 | -€31,009 | €52,337 | +€83,346 |
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 6 October 2026 via checked.be.