MULISANGA: 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.
MULISANGA
Largest movements
- Receivables within one year +€36,735
up €36,735 (+431%), from €8,529 to €45,264
of which Trade receivables: +€31,297
- Tangible fixed assets +€14,141
up €14,141 (+140%), from €10,136 to €24,276
- Cash -€6,920
down €6,920 (-49.5%), from €13,992 to €7,072
mainly Receivables within one year (-€36,735) and Investment in fixed assets (net) (-€22,477)
- Trade debts +€23,834
up €23,834 (+248%), from €9,593 to €33,428
- Debts after one year +€15,875
new in 2025: €15,875
- Current portion of long-term debt +€5,538
new in 2025: €5,538
- Tax, wage and social debts -€2,135
down €2,135 (-21.1%), from €10,107 to €7,972
- Profit (loss) carried forward +€844
up €844 (+14.4%), from €5,857 to €6,700
- Gross operating margin -€2,610
down €2,610 (-10.1%), from €25,734 to €23,124
- Depreciation +€1,540
up €1,540 (+22.7%), from €6,796 to €8,336
- Taxes -€1,074
down €1,074 (-16.2%), from €6,636 to €5,562
- Financial income +€286
up €286 (+122%), from €235 to €521
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.
Derived cash bridge
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 | €32,657 | €76,612 | +€43,956 | +135% |
| Fixed assets | 21/28 | €10,136 | €24,276 | +€14,141 | +140% |
| Tangible fixed assets | 22/27 | €10,136 | €24,276 | +€14,141 | +140% |
| Furniture and vehicles | 24 | €10,136 | €24,276 | +€14,141 | +140% |
| Current assets | 29/58 | €22,521 | €52,336 | +€29,815 | +132% |
| Amounts receivable within one year | 40/41 | €8,529 | €45,264 | +€36,735 | +431% |
| Trade receivables | 40 | €1,231 | €32,528 | +€31,297 | +2,541% |
| Other amounts receivable | 41 | €7,298 | €12,736 | +€5,439 | +74.5% |
| Cash at bank and in hand | 54/58 | €13,992 | €7,072 | -€6,920 | -49.5% |
| Total equity and liabilities | 10/49 | €32,657 | €76,612 | +€43,956 | +135% |
| Equity | 10/15 | €12,957 | €13,800 | +€844 | +6.5% |
| Contributions | 10/11 | €7,100 | €7,100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,857 | €6,700 | +€844 | +14.4% |
| Amounts payable | 17/49 | €19,700 | €62,812 | +€43,112 | +219% |
| Amounts payable after more than one year | 17 | - | €15,875 | +€15,875 | |
| Financial debts | 170/4 | - | €15,875 | +€15,875 | |
| Amounts payable within one year | 42/48 | €19,700 | €46,937 | +€27,237 | +138% |
| Current portion of amounts payable after more than one year | 42 | - | €5,538 | +€5,538 | |
| Trade debts | 44 | €9,593 | €33,428 | +€23,834 | +248% |
| Suppliers | 440/4 | €9,593 | €33,428 | +€23,834 | +248% |
| Taxes, remuneration and social security | 45 | €10,107 | €7,972 | -€2,135 | -21.1% |
| Taxes | 450/3 | €10,107 | €7,972 | -€2,135 | -21.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,796 | €8,336 | +€1,540 | +22.7% |
| Other operating charges | 640/8 | €573 | €586 | +€12 | +2.2% |
| Gross operating margin | 9900 | €25,734 | €23,124 | -€2,610 | -10.1% |
| Operating profit (loss) | 9901 | €18,365 | €14,202 | -€4,163 | -22.7% |
| Financial income | 75/76B | €235 | €521 | +€286 | +122% |
| Recurring financial income | 75 | €235 | €521 | +€286 | +122% |
| Financial charges | 65/66B | €137 | €318 | +€181 | +131% |
| Recurring financial charges | 65 | €137 | €318 | +€181 | +131% |
| Profit (loss) for the period before taxes | 9903 | €18,462 | €14,405 | -€4,057 | -22.0% |
| Income taxes | 67/77 | €6,636 | €5,562 | -€1,074 | -16.2% |
| Profit (loss) for the period | 9904 | €11,827 | €8,844 | -€2,983 | -25.2% |
| Profit (loss) for the period to be appropriated | 9905 | €11,827 | €8,844 | -€2,983 | -25.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.