MUNIA: 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.
MUNIA
Largest movements
- Tangible fixed assets -€25,392
down €25,392 (-5.5%), from €464,796 to €439,403
of which Land and buildings: -€18,121
- Receivables within one year -€7,214
down €7,214 (-97.7%), from €7,388 to €174
of which Other amounts receivable: -€7,388
- Other debts -€18,710
down €18,710 (-5.4%), from €345,633 to €326,923
- Reserves -€10,970
down €10,970 (-69.5%), from €15,776 to €4,806
of which Tax-exempt reserves: -€10,970
- Profit (loss) carried forward +€8,843
up €8,843 (+16.9%), from -€52,350 to -€43,507
- Current portion of long-term debt -€6,729
down €6,729 (-100%), from €6,729 to €0
- Provisions -€5,649
down €5,649 (-76.3%), from €7,403 to €1,754
- Depreciation +€4,155
up €4,155 (+12.5%), from €33,174 to €37,329
- Taxes +€937
up €937 (+20.3%), from €4,612 to €5,550
- Other operating charges -€717
down €717 (-10.8%), from €6,610 to €5,894
- Gross operating margin +€505
up €505 (+1.2%), from €43,221 to €43,725
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 | €476,332 | €442,773 | -€33,559 | -7.0% |
| Fixed assets | 21/28 | €464,796 | €439,403 | -€25,392 | -5.5% |
| Tangible fixed assets | 22/27 | €464,796 | €439,403 | -€25,392 | -5.5% |
| Land and buildings | 22 | €401,515 | €383,394 | -€18,121 | -4.5% |
| Plant, machinery and equipment | 23 | €5,913 | €9,647 | +€3,733 | +63.1% |
| Furniture and vehicles | 24 | €57,367 | €46,363 | -€11,004 | -19.2% |
| Current assets | 29/58 | €11,536 | €3,369 | -€8,167 | -70.8% |
| Amounts receivable within one year | 40/41 | €7,388 | €174 | -€7,214 | -97.7% |
| Trade receivables | 40 | - | €174 | +€174 | |
| Other amounts receivable | 41 | €7,388 | €0 | -€7,388 | -100% |
| Cash at bank and in hand | 54/58 | €4,148 | €3,196 | -€953 | -23.0% |
| Total equity and liabilities | 10/49 | €476,332 | €442,773 | -€33,559 | -7.0% |
| Equity | 10/15 | €25,399 | €23,272 | -€2,127 | -8.4% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €15,776 | €4,806 | -€10,970 | -69.5% |
| Non-distributable reserves | 130/1 | €1,399 | €1,399 | = | 0.0% |
| Legal reserve | 130 | €1,399 | €1,399 | = | 0.0% |
| Tax-exempt reserves | 132 | €14,377 | €3,407 | -€10,970 | -76.3% |
| Profit (loss) carried forward | 14 | -€52,350 | -€43,507 | +€8,843 | +16.9% |
| Provisions and deferred taxes | 16 | €7,403 | €1,754 | -€5,649 | -76.3% |
| Deferred taxes | 168 | €7,403 | €1,754 | -€5,649 | -76.3% |
| Amounts payable | 17/49 | €443,529 | €417,746 | -€25,783 | -5.8% |
| Amounts payable after more than one year | 17 | €75,000 | €75,000 | = | 0.0% |
| Financial debts | 170/4 | €75,000 | €75,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €368,529 | €342,746 | -€25,783 | -7.0% |
| Current portion of amounts payable after more than one year | 42 | €6,729 | €0 | -€6,729 | -100% |
| Financial debts | 43 | €3,530 | €0 | -€3,530 | -100% |
| Other loans | 439 | €3,530 | €0 | -€3,530 | -100% |
| Trade debts | 44 | €8,665 | €9,092 | +€427 | +4.9% |
| Suppliers | 440/4 | €8,665 | €9,092 | +€427 | +4.9% |
| Taxes, remuneration and social security | 45 | €3,972 | €6,731 | +€2,759 | +69.5% |
| Taxes | 450/3 | €3,972 | €6,731 | +€2,759 | +69.5% |
| Other amounts payable | 47/48 | €345,633 | €326,923 | -€18,710 | -5.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,174 | €37,329 | +€4,155 | +12.5% |
| Other operating charges | 640/8 | €6,610 | €5,894 | -€717 | -10.8% |
| Gross operating margin | 9900 | €43,221 | €43,725 | +€505 | +1.2% |
| Operating profit (loss) | 9901 | €3,437 | €503 | -€2,934 | -85.4% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €3,056 | €2,729 | -€327 | -10.7% |
| Recurring financial charges | 65 | €3,056 | €2,729 | -€327 | -10.7% |
| Profit (loss) for the period before taxes | 9903 | €381 | -€2,226 | -€2,607 | |
| Transfer from deferred taxes | 780 | €5,649 | €5,649 | = | 0.0% |
| Income taxes | 67/77 | €4,612 | €5,550 | +€937 | +20.3% |
| Profit (loss) for the period | 9904 | €1,417 | -€2,127 | -€3,544 | |
| Transfer from tax-exempt reserves | 789 | €10,970 | €10,970 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €12,388 | €8,843 | -€3,544 | -28.6% |
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 15 October 2026 via checked.be.