Munlogistic: what changed
Two fiscal 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.
Munlogistic
Largest movements
- Receivables within one year -€95,177
down €95,177 (-82.6%), from €115,222 to €20,045
of which Trade receivables: -€92,838
- Cash -€33,653
down €33,653 (-99.9%), from €33,702 to €49
mainly Trade debts (-€102,512) and Tax, wage and social debts (-€11,526)
- Financial fixed assets +€7,500
new in 2025: €7,500
- Tangible fixed assets +€1,804
up €1,804 (+174.9%), from €1,031 to €2,835
- Trade debts -€102,512
down €102,512 (-83.7%), from €122,451 to €19,938
- Tax, wage and social debts -€11,526
down €11,526 (-62.6%), from €18,406 to €6,880
of which Taxes: -€13,754
- Profit (loss) carried forward -€9,787
down €9,787, from €6,605 to -€3,183
- Other debts +€3,894
new in 2025: €3,894
- Staff costs +€24,584
new in 2025: €24,584
- Gross operating margin +€9,102
up €9,102 (+103.2%), from €8,821 to €17,923
- Taxes -€1,704
down €1,704 (-100.0%), from €1,704 to €0
- Depreciation +€980
up €980 (+1196.9%), from €82 to €1,062
- Financial charges +€835
new in 2025: €835
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
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 | €149,962 | €30,430 | -€119,532 | -79.7% |
| Fixed assets | 21/28 | €1,031 | €10,335 | +€9,304 | +902.1% |
| Tangible fixed assets | 22/27 | €1,031 | €2,835 | +€1,804 | +174.9% |
| Furniture and vehicles | 24 | €1,031 | €2,835 | +€1,804 | +174.9% |
| Financial fixed assets | 28 | - | €7,500 | +€7,500 | |
| Current assets | 29/58 | €148,930 | €20,095 | -€128,836 | -86.5% |
| Amounts receivable within one year | 40/41 | €115,222 | €20,045 | -€95,177 | -82.6% |
| Trade receivables | 40 | €112,883 | €20,045 | -€92,838 | -82.2% |
| Other amounts receivable | 41 | €2,339 | €0 | -€2,339 | -100.0% |
| Cash at bank and in hand | 54/58 | €33,702 | €49 | -€33,653 | -99.9% |
| Deferred charges and accrued income | 490/1 | €6 | €0 | -€6 | -100.0% |
| Total equity and liabilities | 10/49 | €149,962 | €30,430 | -€119,532 | -79.7% |
| Equity | 10/15 | €9,105 | -€683 | -€9,787 | |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,605 | -€3,183 | -€9,787 | |
| Amounts payable | 17/49 | €140,857 | €31,112 | -€109,745 | -77.9% |
| Amounts payable within one year | 42/48 | €140,857 | €30,713 | -€110,145 | -78.2% |
| Trade debts | 44 | €122,451 | €19,938 | -€102,512 | -83.7% |
| Suppliers | 440/4 | €122,451 | €19,938 | -€102,512 | -83.7% |
| Taxes, remuneration and social security | 45 | €18,406 | €6,880 | -€11,526 | -62.6% |
| Taxes | 450/3 | €18,406 | €4,652 | -€13,754 | -74.7% |
| Remuneration and social security | 454/9 | - | €2,228 | +€2,228 | |
| Other amounts payable | 47/48 | - | €3,894 | +€3,894 | |
| Accrued charges and deferred income | 492/3 | - | €400 | +€400 | |
| Remuneration, social security and pensions | 62 | - | €24,584 | +€24,584 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €82 | €1,062 | +€980 | +1196.9% |
| Other operating charges | 640/8 | €437 | €1,230 | +€792 | +181.2% |
| Gross operating margin | 9900 | €8,821 | €17,923 | +€9,102 | +103.2% |
| Operating profit (loss) | 9901 | €8,302 | -€8,952 | -€17,254 | |
| Financial income | 75/76B | €6 | €0 | -€6 | -100.0% |
| Recurring financial income | 75 | €6 | €0 | -€6 | -100.0% |
| Financial charges | 65/66B | - | €835 | +€835 | |
| Recurring financial charges | 65 | - | €835 | +€835 | |
| Profit (loss) for the period before taxes | 9903 | €8,308 | -€9,787 | -€18,096 | |
| Income taxes | 67/77 | €1,704 | €0 | -€1,704 | -100.0% |
| Profit (loss) for the period | 9904 | €6,605 | -€9,787 | -€16,392 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,605 | -€9,787 | -€16,392 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.