Munus: 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.
Munus
Largest movements
- Receivables within one year +€51,516
up €51,516 (+7.4%), from €699,757 to €751,273
- Reserves +€56,249
up €56,249 (+8.3%), from €678,518 to €734,767
of which Distributable reserves: +€56,249
- Gross operating margin -€5,911
down €5,911 (-7.3%), from €80,755 to €74,844
- Taxes -€3,582
down €3,582 (-20.5%), from €17,514 to €13,932
- Other operating charges -€2,759
down €2,759 (-82.1%), from €3,360 to €601
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 | €721,656 | €774,532 | +€52,876 | +7.3% |
| Fixed assets | 21/28 | €4,984 | €9,018 | +€4,034 | +80.9% |
| Tangible fixed assets | 22/27 | €4,984 | €9,018 | +€4,034 | +80.9% |
| Plant, machinery and equipment | 23 | - | €1,848 | +€1,848 | |
| Furniture and vehicles | 24 | €4,984 | €7,170 | +€2,186 | +43.9% |
| Other tangible fixed assets | 26 | €0 | €0 | = | |
| Current assets | 29/58 | €716,671 | €765,514 | +€48,842 | +6.8% |
| Amounts receivable within one year | 40/41 | €699,757 | €751,273 | +€51,516 | +7.4% |
| Other amounts receivable | 41 | €699,757 | €751,273 | +€51,516 | +7.4% |
| Cash at bank and in hand | 54/58 | €16,031 | €13,993 | -€2,038 | -12.7% |
| Deferred charges and accrued income | 490/1 | €882 | €247 | -€635 | -72.0% |
| Total equity and liabilities | 10/49 | €721,656 | €774,532 | +€52,876 | +7.3% |
| Equity | 10/15 | €690,918 | €747,167 | +€56,249 | +8.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €678,518 | €734,767 | +€56,249 | +8.3% |
| Non-distributable reserves | 130/1 | €1,950 | €1,950 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,950 | €1,950 | = | 0.0% |
| Distributable reserves | 133 | €676,568 | €732,817 | +€56,249 | +8.3% |
| Amounts payable | 17/49 | €30,738 | €27,365 | -€3,373 | -11.0% |
| Amounts payable within one year | 42/48 | €30,738 | €27,365 | -€3,373 | -11.0% |
| Financial debts | 43 | €17,661 | €15,000 | -€2,661 | -15.1% |
| Credit institutions | 430/8 | €17,661 | €15,000 | -€2,661 | -15.1% |
| Trade debts | 44 | €2,127 | €1,300 | -€826 | -38.8% |
| Suppliers | 440/4 | €2,127 | €1,300 | -€826 | -38.8% |
| Taxes, remuneration and social security | 45 | €10,950 | €11,065 | +€115 | +1.0% |
| Taxes | 450/3 | €10,950 | €11,065 | +€115 | +1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,028 | €1,879 | -€149 | -7.3% |
| Other operating charges | 640/8 | €3,360 | €601 | -€2,759 | -82.1% |
| Gross operating margin | 9900 | €80,755 | €74,844 | -€5,911 | -7.3% |
| Operating profit (loss) | 9901 | €75,366 | €72,363 | -€3,003 | -4.0% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €1,497 | €2,183 | +€685 | +45.8% |
| Recurring financial charges | 65 | €1,497 | €2,183 | +€685 | +45.8% |
| Profit (loss) for the period before taxes | 9903 | €73,869 | €70,181 | -€3,688 | -5.0% |
| Income taxes | 67/77 | €17,514 | €13,932 | -€3,582 | -20.5% |
| Profit (loss) for the period | 9904 | €56,355 | €56,249 | -€106 | -0.2% |
| Profit (loss) for the period to be appropriated | 9905 | €56,355 | €56,249 | -€106 | -0.2% |
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 10 October 2026 via checked.be.