Munio Real Estate: 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.
Munio Real Estate
Largest movements
- Stocks and contracts +€621,023
up €621,023 (+253%), from €245,000 to €866,023
- Cash +€418,975
up €418,975 (+944%), from €44,362 to €463,337
mainly Other debts (+€365,000) and Debts after one year (+€329,819)
- Other debts +€365,000
up €365,000 (+7,455%), from €4,896 to €369,896
- Debts after one year +€329,819
up €329,819 (+137%), from €239,902 to €569,721
- Tax, wage and social debts +€166,477
up €166,477 (+7,934%), from €2,098 to €168,575
- Accrued charges and deferred income +€98,257
new in 2025: €98,257
- Reserves +€85,768
new in 2025: €85,768
- Gross operating margin +€133,073
up €133,073, from -€107 to €132,966
- Taxes +€31,409
new in 2025: €31,409
- Financial charges +€7,710
up €7,710 (+99.1%), from €7,777 to €15,487
- Depreciation -€1,724
down €1,724 (-80.0%), from €2,155 to €431
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 | €297,390 | €1,329,971 | +€1.0m | +347% |
| Formation expenses | 20 | €431 | - | -€431 | |
| Current assets | 29/58 | €296,959 | €1,329,971 | +€1.0m | +348% |
| Stocks and contracts in progress | 3 | €245,000 | €866,023 | +€621,023 | +253% |
| Stocks | 30/36 | €245,000 | €866,023 | +€621,023 | +253% |
| Amounts receivable within one year | 40/41 | €7,597 | €612 | -€6,986 | -91.9% |
| Trade receivables | 40 | - | €612 | +€612 | |
| Other amounts receivable | 41 | €7,597 | - | -€7,597 | |
| Cash at bank and in hand | 54/58 | €44,362 | €463,337 | +€418,975 | +944% |
| Total equity and liabilities | 10/49 | €297,390 | €1,329,971 | +€1.0m | +347% |
| Equity | 10/15 | €39,748 | €80,517 | +€40,768 | +103% |
| Contributions | 10/11 | €49,500 | €4,500 | -€45,000 | -90.9% |
| Reserves | 13 | - | €85,768 | +€85,768 | |
| Distributable reserves | 133 | - | €85,768 | +€85,768 | |
| Profit (loss) carried forward | 14 | -€9,752 | -€9,752 | = | 0.0% |
| Amounts payable | 17/49 | €257,642 | €1,249,454 | +€991,812 | +385% |
| Amounts payable after more than one year | 17 | €239,902 | €569,721 | +€329,819 | +137% |
| Financial debts | 170/4 | €239,902 | €569,721 | +€329,819 | +137% |
| Amounts payable within one year | 42/48 | €17,740 | €581,476 | +€563,736 | +3,178% |
| Trade debts | 44 | €10,746 | €43,005 | +€32,259 | +300% |
| Suppliers | 440/4 | €10,746 | €43,005 | +€32,259 | +300% |
| Taxes, remuneration and social security | 45 | €2,098 | €168,575 | +€166,477 | +7,934% |
| Taxes | 450/3 | €2,098 | €168,575 | +€166,477 | +7,934% |
| Other amounts payable | 47/48 | €4,896 | €369,896 | +€365,000 | +7,455% |
| Accrued charges and deferred income | 492/3 | - | €98,257 | +€98,257 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,155 | €431 | -€1,724 | -80.0% |
| Other operating charges | 640/8 | - | €120 | +€120 | |
| Gross operating margin | 9900 | -€107 | €132,966 | +€133,073 | |
| Operating profit (loss) | 9901 | -€2,262 | €132,415 | +€134,677 | |
| Financial income | 75/76B | €287 | €249 | -€38 | -13.2% |
| Recurring financial income | 75 | €287 | €249 | -€38 | -13.2% |
| Financial charges | 65/66B | €7,777 | €15,487 | +€7,710 | +99.1% |
| Recurring financial charges | 65 | €7,777 | €15,487 | +€7,710 | +99.1% |
| Profit (loss) for the period before taxes | 9903 | -€9,752 | €117,178 | +€126,929 | |
| Income taxes | 67/77 | - | €31,409 | +€31,409 | |
| Profit (loss) for the period | 9904 | -€9,752 | €85,768 | +€95,520 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,752 | €85,768 | +€95,520 |
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 31 October 2026 via checked.be.