Munerix: 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.
Munerix
Largest movements
- Tangible fixed assets +€65,405
up €65,405 (+16.3%), from €400,533 to €465,938
of which Furniture and vehicles: +€60,332
- Cash +€46,215
up €46,215 (+46.9%), from €98,492 to €144,707
mainly Other debts (+€88,489) and Net result for the year (+€57,978)
- Receivables within one year +€27,063
up €27,063 (+124%), from €21,749 to €48,811
of which Trade receivables: +€22,563
- Other debts +€88,489
up €88,489 (+816%), from €10,850 to €99,339
- Debts after one year +€30,160
up €30,160 (+8.5%), from €356,368 to €386,528
- Current portion of long-term debt +€10,562
up €10,562 (+73.9%), from €14,299 to €24,861
- Reserves +€9,289
up €9,289 (+6.3%), from €147,093 to €156,382
- Gross operating margin +€61,553
up €61,553 (+62.1%), from €99,192 to €160,745
- Financial charges +€55,786
up €55,786 (+858%), from €6,499 to €62,285
- Depreciation +€3,138
up €3,138 (+18.9%), from €16,645 to €19,784
- Financial income -€2,967
down €2,967 (-83.6%), from €3,551 to €584
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 | €548,275 | €686,236 | +€137,961 | +25.2% |
| Fixed assets | 21/28 | €425,533 | €490,938 | +€65,405 | +15.4% |
| Tangible fixed assets | 22/27 | €400,533 | €465,938 | +€65,405 | +16.3% |
| Land and buildings | 22 | €400,472 | €405,606 | +€5,134 | +1.3% |
| Plant, machinery and equipment | 23 | €61 | €0 | -€61 | -100% |
| Furniture and vehicles | 24 | - | €60,332 | +€60,332 | |
| Financial fixed assets | 28 | €25,000 | €25,000 | = | 0.0% |
| Current assets | 29/58 | €122,742 | €195,298 | +€72,556 | +59.1% |
| Amounts receivable within one year | 40/41 | €21,749 | €48,811 | +€27,063 | +124% |
| Trade receivables | 40 | €18,749 | €41,311 | +€22,563 | +120% |
| Other amounts receivable | 41 | €3,000 | €7,500 | +€4,500 | +150% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €98,492 | €144,707 | +€46,215 | +46.9% |
| Deferred charges and accrued income | 490/1 | €2,501 | €1,779 | -€722 | -28.9% |
| Total equity and liabilities | 10/49 | €548,275 | €686,236 | +€137,961 | +25.2% |
| Equity | 10/15 | €147,093 | €156,382 | +€9,289 | +6.3% |
| Reserves | 13 | €147,093 | €156,382 | +€9,289 | +6.3% |
| Distributable reserves | 133 | €147,093 | €156,382 | +€9,289 | +6.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €401,182 | €529,854 | +€128,672 | +32.1% |
| Amounts payable after more than one year | 17 | €356,368 | €386,528 | +€30,160 | +8.5% |
| Financial debts | 170/4 | €356,368 | €386,528 | +€30,160 | +8.5% |
| Amounts payable within one year | 42/48 | €44,814 | €143,326 | +€98,512 | +220% |
| Current portion of amounts payable after more than one year | 42 | €14,299 | €24,861 | +€10,562 | +73.9% |
| Trade debts | 44 | €8,298 | €6,958 | -€1,340 | -16.2% |
| Suppliers | 440/4 | €8,298 | €6,958 | -€1,340 | -16.2% |
| Taxes, remuneration and social security | 45 | €11,367 | €12,168 | +€802 | +7.1% |
| Taxes | 450/3 | €11,367 | €12,168 | +€802 | +7.1% |
| Other amounts payable | 47/48 | €10,850 | €99,339 | +€88,489 | +816% |
| Non-recurring operating income | 76A | €1,279 | €10,744 | +€9,464 | +740% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,645 | €19,784 | +€3,138 | +18.9% |
| Other operating charges | 640/8 | €6,371 | €6,372 | +€1 | 0.0% |
| Non-recurring operating charges | 66A | €79 | €0 | -€79 | -100% |
| Gross operating margin | 9900 | €99,192 | €160,745 | +€61,553 | +62.1% |
| Operating profit (loss) | 9901 | €76,097 | €134,590 | +€58,493 | +76.9% |
| Financial income | 75/76B | €3,551 | €584 | -€2,967 | -83.6% |
| Recurring financial income | 75 | €3,551 | €584 | -€2,967 | -83.6% |
| Financial charges | 65/66B | €6,499 | €62,285 | +€55,786 | +858% |
| Recurring financial charges | 65 | €6,499 | €62,285 | +€55,786 | +858% |
| Profit (loss) for the period before taxes | 9903 | €73,149 | €72,889 | -€260 | -0.4% |
| Income taxes | 67/77 | €15,661 | €14,910 | -€750 | -4.8% |
| Profit (loss) for the period | 9904 | €57,488 | €57,978 | +€490 | +0.9% |
| Profit (loss) for the period to be appropriated | 9905 | €57,488 | €57,978 | +€490 | +0.9% |
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 18 October 2026 via checked.be.