Mukwa: 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.
Mukwa
Largest movements
- Receivables within one year -€54,920
down €54,920 (-64.1%), from €85,616 to €30,696
of which Trade receivables: -€59,796
- Cash -€31,836
down €31,836 (-36.5%), from €87,325 to €55,489
mainly Other debts (-€65,946) and Contributions, distributions and other (-€59,808)
- Deferred charges and accrued income -€8,713
no longer reported in 2025 (was €8,713)
- Other debts -€65,946
down €65,946 (-54.9%), from €120,017 to €54,071
- Tax, wage and social debts -€21,187
down €21,187 (-50.1%), from €42,330 to €21,144
- Profit (loss) carried forward -€10,537
no longer reported in 2025 (was €10,537)
- Financial income +€1,398
up €1,398 (+813.6%), from €172 to €1,570
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 | €183,431 | €87,535 | -€95,896 | -52.3% |
| Fixed assets | 21/28 | €1,777 | €1,350 | -€428 | -24.1% |
| Tangible fixed assets | 22/27 | €1,777 | €1,350 | -€428 | -24.1% |
| Furniture and vehicles | 24 | €1,777 | €1,350 | -€428 | -24.1% |
| Current assets | 29/58 | €181,654 | €86,185 | -€95,468 | -52.6% |
| Amounts receivable within one year | 40/41 | €85,616 | €30,696 | -€54,920 | -64.1% |
| Trade receivables | 40 | €78,915 | €19,119 | -€59,796 | -75.8% |
| Other amounts receivable | 41 | €6,701 | €11,577 | +€4,876 | +72.8% |
| Cash at bank and in hand | 54/58 | €87,325 | €55,489 | -€31,836 | -36.5% |
| Deferred charges and accrued income | 490/1 | €8,713 | - | -€8,713 | |
| Total equity and liabilities | 10/49 | €183,431 | €87,535 | -€95,896 | -52.3% |
| Equity | 10/15 | €13,537 | €3,000 | -€10,537 | -77.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,537 | - | -€10,537 | |
| Amounts payable | 17/49 | €169,894 | €84,535 | -€85,359 | -50.2% |
| Amounts payable within one year | 42/48 | €169,894 | €84,535 | -€85,359 | -50.2% |
| Trade debts | 44 | €7,547 | €9,320 | +€1,774 | +23.5% |
| Suppliers | 440/4 | €7,547 | €9,320 | +€1,774 | +23.5% |
| Taxes, remuneration and social security | 45 | €42,330 | €21,144 | -€21,187 | -50.1% |
| Taxes | 450/3 | €42,330 | €21,144 | -€21,187 | -50.1% |
| Other amounts payable | 47/48 | €120,017 | €54,071 | -€65,946 | -54.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €746 | €840 | +€94 | +12.6% |
| Other operating charges | 640/8 | €537 | €777 | +€239 | +44.5% |
| Gross operating margin | 9900 | €65,140 | €65,599 | +€459 | +0.7% |
| Operating profit (loss) | 9901 | €63,857 | €63,982 | +€125 | +0.2% |
| Financial income | 75/76B | €172 | €1,570 | +€1,398 | +813.6% |
| Recurring financial income | 75 | €172 | €1,570 | +€1,398 | +813.6% |
| Financial charges | 65/66B | €2,245 | €2,858 | +€613 | +27.3% |
| Recurring financial charges | 65 | €2,245 | €2,858 | +€613 | +27.3% |
| Profit (loss) for the period before taxes | 9903 | €61,783 | €62,694 | +€911 | +1.5% |
| Income taxes | 67/77 | €13,299 | €13,423 | +€124 | +0.9% |
| Profit (loss) for the period | 9904 | €48,485 | €49,271 | +€787 | +1.6% |
| Profit (loss) for the period to be appropriated | 9905 | €48,485 | €49,271 | +€787 | +1.6% |
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 4 October 2026 via checked.be.