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MUNACO: 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.

What changed

MUNACO

BE 0808.553.101
NACE 47.110, Non-specialised retail sale with food, beverages or tobacco predominating
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€3,998
2024 · €2,975+€1,022
Equity
€64,353
2024 · €60,355+€3,998
Cash
€3,651
2024 · €1,752+€1,899
Balance sheet total
€150,082
2024 · €167,934-€17,852

Largest movements

2024 to 2025
Assets
  • Tangible fixed assets -€19,875

    down €19,875 (-32.6%), from €60,885 to €41,010

    of which Furniture and vehicles: -€18,303

  • Receivables within one year -€5,997

    down €5,997 (-58.5%), from €10,258 to €4,261

    of which Other amounts receivable: -€6,216

  • Deferred charges and accrued income +€3,139

    up €3,139 (+127%), from €2,480 to €5,618

  • Stocks and contracts +€2,983

    up €2,983 (+3.2%), from €92,560 to €95,542

  • Cash +€1,899

    up €1,899 (+108%), from €1,752 to €3,651

    mainly Depreciation (+€21,073) and Receivables within one year (+€5,997)

Equity and liabilities
  • Debts after one year -€24,419

    down €24,419 (-39.9%), from €61,266 to €36,847

  • Trade debts +€4,603

    up €4,603 (+25.5%), from €18,039 to €22,642

  • Reserves +€3,998

    up €3,998 (+6.6%), from €60,355 to €64,353

  • Short-term financial debts -€3,828

    no longer reported in 2025 (was €3,828)

  • Tax, wage and social debts +€2,252

    up €2,252 (+261%), from €865 to €3,117

    of which Taxes: +€1,452

Income statement
  • Other operating charges -€1,152

    down €1,152 (-78.1%), from €1,475 to €323

  • Taxes +€504

    up €504 (+53.1%), from €949 to €1,452

From the 2024 result to the 2025 result

effect on the 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.

Result 2024 €2,975
Gross operating margin +€248
Depreciation +€178
Other operating charges +€1,152
Financial income +€123
Financial charges -€175
Taxes -€504
Result 2025 €3,998
raises the resultlowers the result

Derived cash bridge

cash 2024 to 2025

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.

From operations +€31,803
Investment -€1,198
Financing -€28,706
Cash 2024 €1,752
Net result for the year +€3,998
Depreciation +€21,073
Stocks and contracts -€2,983
Receivables within one year +€5,997
Deferred charges and accrued income -€3,139
Trade debts +€4,603
Tax, wage and social debts +€2,252
Investment in fixed assets (net) -€1,198
Debts after one year -€24,419
Current portion of long-term debt -€458
Short-term financial debts -€3,828
Cash 2025 €3,651
brings cash intakes cash out
Every line side by side 42 lines
Line Code 2024 2025 Change %
Total assets 20/58 €167,934 €150,082 -€17,852 -10.6%
Fixed assets 21/28 €60,885 €41,010 -€19,875 -32.6%
Tangible fixed assets 22/27 €60,885 €41,010 -€19,875 -32.6%
Plant, machinery and equipment 23 €2,217 €1,727 -€490 -22.1%
Furniture and vehicles 24 €56,318 €38,016 -€18,303 -32.5%
Other tangible fixed assets 26 €2,350 €1,267 -€1,083 -46.1%
Current assets 29/58 €107,049 €109,072 +€2,023 +1.9%
Stocks and contracts in progress 3 €92,560 €95,542 +€2,983 +3.2%
Stocks 30/36 €92,560 €95,542 +€2,983 +3.2%
Amounts receivable within one year 40/41 €10,258 €4,261 -€5,997 -58.5%
Trade receivables 40 €36 €255 +€219 +610%
Other amounts receivable 41 €10,222 €4,006 -€6,216 -60.8%
Cash at bank and in hand 54/58 €1,752 €3,651 +€1,899 +108%
Deferred charges and accrued income 490/1 €2,480 €5,618 +€3,139 +127%
Total equity and liabilities 10/49 €167,934 €150,082 -€17,852 -10.6%
Equity 10/15 €60,355 €64,353 +€3,998 +6.6%
Reserves 13 €60,355 €64,353 +€3,998 +6.6%
Distributable reserves 133 €60,355 €64,353 +€3,998 +6.6%
Amounts payable 17/49 €107,579 €85,729 -€21,850 -20.3%
Amounts payable after more than one year 17 €61,266 €36,847 -€24,419 -39.9%
Financial debts 170/4 €61,266 €36,847 -€24,419 -39.9%
Amounts payable within one year 42/48 €46,313 €48,882 +€2,570 +5.5%
Current portion of amounts payable after more than one year 42 €23,581 €23,123 -€458 -1.9%
Financial debts 43 €3,828 - -€3,828
Credit institutions 430/8 €3,828 - -€3,828
Trade debts 44 €18,039 €22,642 +€4,603 +25.5%
Suppliers 440/4 €18,039 €22,642 +€4,603 +25.5%
Taxes, remuneration and social security 45 €865 €3,117 +€2,252 +261%
Taxes 450/3 €865 €2,317 +€1,452 +168%
Remuneration and social security 454/9 - €800 +€800
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets 630 €21,251 €21,073 -€178 -0.8%
Other operating charges 640/8 €1,475 €323 -€1,152 -78.1%
Gross operating margin 9900 €35,130 €35,378 +€248 +0.7%
Operating profit (loss) 9901 €12,404 €13,982 +€1,578 +12.7%
Financial income 75/76B €188 €311 +€123 +65.5%
Recurring financial income 75 €188 €311 +€123 +65.5%
Financial charges 65/66B €8,668 €8,842 +€175 +2.0%
Recurring financial charges 65 €8,668 €8,842 +€175 +2.0%
Profit (loss) for the period before taxes 9903 €3,924 €5,450 +€1,526 +38.9%
Income taxes 67/77 €949 €1,452 +€504 +53.1%
Profit (loss) for the period 9904 €2,975 €3,998 +€1,022 +34.4%
Profit (loss) for the period to be appropriated 9905 €2,975 €3,998 +€1,022 +34.4%

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 14 October 2026 via checked.be.