MUNERIS: 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.
MUNERIS
Largest movements
- Receivables within one year +€163,640
up €163,640 (+79.6%), from €205,672 to €369,312
- Cash -€86,080
down €86,080 (-87.4%), from €98,485 to €12,405
- Receivables after one year -€30,400
no longer reported in 2025 (was €30,400)
- Tangible fixed assets -€28,136
down €28,136 (-38.4%), from €73,346 to €45,210
of which Furniture and vehicles: -€25,017
- Trade debts +€39,248
up €39,248 (+323.0%), from €12,152 to €51,400
- Short-term financial debts -€25,000
no longer reported in 2025 (was €25,000)
- Tax, wage and social debts +€9,173
up €9,173 (+371.4%), from €2,470 to €11,643
- Profit (loss) carried forward -€4,397
new in 2025: -€4,397
- Other operating charges +€12,613
up €12,613 (+232.2%), from €5,432 to €18,044
- Depreciation +€11,610
up €11,610 (+48.5%), from €23,931 to €35,541
- Gross operating margin -€7,174
down €7,174 (-8.5%), from €84,874 to €77,700
- Taxes +€6,207
up €6,207 (+33.7%), from €18,396 to €24,603
- Financial charges +€3,687
up €3,687 (+1252.6%), from €294 to €3,982
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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €407,904 | €426,928 | +€19,024 | +4.7% |
| Fixed assets | 21/28 | €73,346 | €45,210 | -€28,136 | -38.4% |
| Tangible fixed assets | 22/27 | €73,346 | €45,210 | -€28,136 | -38.4% |
| Land and buildings | 22 | €31,977 | €28,859 | -€3,119 | -9.8% |
| Furniture and vehicles | 24 | €41,369 | €16,352 | -€25,017 | -60.5% |
| Current assets | 29/58 | €334,558 | €381,718 | +€47,160 | +14.1% |
| Amounts receivable after more than one year | 29 | €30,400 | - | -€30,400 | |
| Other amounts receivable | 291 | €30,400 | - | -€30,400 | |
| Amounts receivable within one year | 40/41 | €205,672 | €369,312 | +€163,640 | +79.6% |
| Other amounts receivable | 41 | €205,672 | €369,312 | +€163,640 | +79.6% |
| Cash at bank and in hand | 54/58 | €98,485 | €12,405 | -€86,080 | -87.4% |
| Total equity and liabilities | 10/49 | €407,904 | €426,928 | +€19,024 | +4.7% |
| Equity | 10/15 | €368,282 | €363,885 | -€4,397 | -1.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €349,682 | €349,682 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €347,822 | €347,822 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€4,397 | -€4,397 | |
| Amounts payable | 17/49 | €39,622 | €63,044 | +€23,422 | +59.1% |
| Amounts payable within one year | 42/48 | €39,622 | €63,044 | +€23,422 | +59.1% |
| Financial debts | 43 | €25,000 | - | -€25,000 | |
| Credit institutions | 430/8 | €25,000 | - | -€25,000 | |
| Trade debts | 44 | €12,152 | €51,400 | +€39,248 | +323.0% |
| Suppliers | 440/4 | €12,152 | €51,400 | +€39,248 | +323.0% |
| Taxes, remuneration and social security | 45 | €2,470 | €11,643 | +€9,173 | +371.4% |
| Taxes | 450/3 | €2,470 | €11,643 | +€9,173 | +371.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,931 | €35,541 | +€11,610 | +48.5% |
| Other operating charges | 640/8 | €5,432 | €18,044 | +€12,613 | +232.2% |
| Gross operating margin | 9900 | €84,874 | €77,700 | -€7,174 | -8.5% |
| Operating profit (loss) | 9901 | €55,511 | €24,115 | -€31,396 | -56.6% |
| Financial income | 75/76B | €13 | €73 | +€59 | +447.8% |
| Recurring financial income | 75 | €13 | €73 | +€59 | +447.8% |
| Financial charges | 65/66B | €294 | €3,982 | +€3,687 | +1252.6% |
| Recurring financial charges | 65 | €294 | €3,982 | +€3,687 | +1252.6% |
| Profit (loss) for the period before taxes | 9903 | €55,230 | €20,205 | -€35,024 | -63.4% |
| Income taxes | 67/77 | €18,396 | €24,603 | +€6,207 | +33.7% |
| Profit (loss) for the period | 9904 | €36,834 | -€4,397 | -€41,231 | |
| Profit (loss) for the period to be appropriated | 9905 | €36,834 | -€4,397 | -€41,231 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.