MUKATE: 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.
MUKATE
Largest movements
- Tangible fixed assets -€125,080
down €125,080 (-15.6%), from €803,052 to €677,972
- Cash +€51,485
up €51,485 (+83.3%), from €61,827 to €113,312
mainly Depreciation (+€149,805) and Net result for the year (+€66,368)
- Receivables within one year +€21,214
up €21,214 (+56.6%), from €37,455 to €58,669
of which Other amounts receivable: +€29,022
- Stocks and contracts -€20,031
down €20,031 (-40.6%), from €49,286 to €29,255
- Debts after one year -€107,862
down €107,862 (-27.2%), from €396,648 to €288,786
- Other debts +€61,296
up €61,296 (+206.5%), from €29,685 to €90,982
- Current portion of long-term debt -€27,439
down €27,439 (-20.3%), from €135,301 to €107,862
- Gross operating margin +€84,473
up €84,473 (+24.8%), from €339,973 to €424,446
- Staff costs +€18,120
up €18,120 (+16.5%), from €109,868 to €127,988
- Depreciation +€15,438
up €15,438 (+11.5%), from €134,367 to €149,805
- Taxes +€5,421
up €5,421 (+27.2%), from €19,925 to €25,346
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €961,091 | €889,653 | -€71,438 | -7.4% |
| Fixed assets | 21/28 | €803,052 | €677,972 | -€125,080 | -15.6% |
| Tangible fixed assets | 22/27 | €803,052 | €677,972 | -€125,080 | -15.6% |
| Land and buildings | 22 | €214,433 | €178,620 | -€35,814 | -16.7% |
| Plant, machinery and equipment | 23 | €134,221 | €119,211 | -€15,010 | -11.2% |
| Furniture and vehicles | 24 | €84,052 | €67,525 | -€16,528 | -19.7% |
| Leasing and similar rights | 25 | €370,346 | €312,617 | -€57,729 | -15.6% |
| Current assets | 29/58 | €158,039 | €211,680 | +€53,642 | +33.9% |
| Stocks and contracts in progress | 3 | €49,286 | €29,255 | -€20,031 | -40.6% |
| Stocks | 30/36 | €49,286 | €29,255 | -€20,031 | -40.6% |
| Amounts receivable within one year | 40/41 | €37,455 | €58,669 | +€21,214 | +56.6% |
| Trade receivables | 40 | €12,492 | €4,684 | -€7,808 | -62.5% |
| Other amounts receivable | 41 | €24,963 | €53,985 | +€29,022 | +116.3% |
| Cash at bank and in hand | 54/58 | €61,827 | €113,312 | +€51,485 | +83.3% |
| Deferred charges and accrued income | 490/1 | €9,471 | €10,444 | +€973 | +10.3% |
| Total equity and liabilities | 10/49 | €961,091 | €889,653 | -€71,438 | -7.4% |
| Equity | 10/15 | €327,316 | €331,172 | +€3,856 | +1.2% |
| Contributions | 10/11 | €43,592 | €43,592 | = | 0.0% |
| Reserves | 13 | €236,260 | €240,116 | +€3,856 | +1.6% |
| Distributable reserves | 133 | €236,260 | €240,116 | +€3,856 | +1.6% |
| Profit (loss) carried forward | 14 | €47,464 | €47,464 | = | 0.0% |
| Amounts payable | 17/49 | €633,775 | €558,481 | -€75,294 | -11.9% |
| Amounts payable after more than one year | 17 | €396,648 | €288,786 | -€107,862 | -27.2% |
| Financial debts | 170/4 | €396,648 | €288,786 | -€107,862 | -27.2% |
| Amounts payable within one year | 42/48 | €237,127 | €269,695 | +€32,568 | +13.7% |
| Current portion of amounts payable after more than one year | 42 | €135,301 | €107,862 | -€27,439 | -20.3% |
| Trade debts | 44 | €53,365 | €47,168 | -€6,197 | -11.6% |
| Suppliers | 440/4 | €53,365 | €47,168 | -€6,197 | -11.6% |
| Taxes, remuneration and social security | 45 | €18,776 | €23,683 | +€4,907 | +26.1% |
| Taxes | 450/3 | €617 | €2,613 | +€1,995 | +323.3% |
| Remuneration and social security | 454/9 | €18,159 | €21,070 | +€2,911 | +16.0% |
| Other amounts payable | 47/48 | €29,685 | €90,982 | +€61,296 | +206.5% |
| Non-recurring operating income | 76A | - | €1,500 | +€1,500 | |
| Remuneration, social security and pensions | 62 | €109,868 | €127,988 | +€18,120 | +16.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €134,367 | €149,805 | +€15,438 | +11.5% |
| Other operating charges | 640/8 | €3,455 | €3,592 | +€137 | +4.0% |
| Operating charges capitalised as restructuring costs | 649 | - | €0 | = | |
| Non-recurring operating charges | 66A | - | €38,670 | +€38,670 | |
| Gross operating margin | 9900 | €339,973 | €424,446 | +€84,473 | +24.8% |
| Operating profit (loss) | 9901 | €92,282 | €104,390 | +€12,108 | +13.1% |
| Financial income | 75/76B | €181 | €3,832 | +€3,651 | +2013.8% |
| Recurring financial income | 75 | €181 | €3,832 | +€3,651 | +2013.8% |
| Financial charges | 65/66B | €15,790 | €16,508 | +€719 | +4.6% |
| Recurring financial charges | 65 | €15,790 | €16,508 | +€719 | +4.6% |
| Profit (loss) for the period before taxes | 9903 | €76,674 | €91,714 | +€15,040 | +19.6% |
| Income taxes | 67/77 | €19,925 | €25,346 | +€5,421 | +27.2% |
| Profit (loss) for the period | 9904 | €56,749 | €66,368 | +€9,619 | +16.9% |
| Profit (loss) for the period to be appropriated | 9905 | €56,749 | €66,368 | +€9,619 | +16.9% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.