MUR: 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.
MUR
Largest movements
- Receivables within one year -€46,812
down €46,812 (-79.0%), from €59,248 to €12,436
of which Trade receivables: -€42,094
- Stocks and contracts +€39,500
new in 2025: €39,500
- Cash -€33,494
down €33,494 (-52.0%), from €64,436 to €30,942
mainly Net result for the year (-€54,442) and Stocks and contracts (-€39,500)
- Tangible fixed assets -€26,641
down €26,641 (-55.9%), from €47,691 to €21,050
of which Furniture and vehicles: -€27,082
- Profit (loss) carried forward -€54,442
down €54,442, from €7,492 to -€46,951
- Trade debts -€14,776
down €14,776 (-79.3%), from €18,622 to €3,846
- Gross operating margin -€88,481
down €88,481, from €69,338 to -€19,144
- Taxes -€11,914
down €11,914 (-97.2%), from €12,258 to €344
- Depreciation +€1,433
up €1,433 (+4.6%), from €31,217 to €32,651
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 | €174,109 | €106,243 | -€67,866 | -39.0% |
| Fixed assets | 21/28 | €48,177 | €21,535 | -€26,641 | -55.3% |
| Tangible fixed assets | 22/27 | €47,691 | €21,050 | -€26,641 | -55.9% |
| Plant, machinery and equipment | 23 | €2,825 | €3,266 | +€440 | +15.6% |
| Furniture and vehicles | 24 | €44,866 | €17,784 | -€27,082 | -60.4% |
| Financial fixed assets | 28 | €485 | €485 | = | 0.0% |
| Current assets | 29/58 | €125,932 | €84,708 | -€41,224 | -32.7% |
| Stocks and contracts in progress | 3 | - | €39,500 | +€39,500 | |
| Stocks | 30/36 | - | €39,500 | +€39,500 | |
| Amounts receivable within one year | 40/41 | €59,248 | €12,436 | -€46,812 | -79.0% |
| Trade receivables | 40 | €47,922 | €5,828 | -€42,094 | -87.8% |
| Other amounts receivable | 41 | €11,326 | €6,608 | -€4,718 | -41.7% |
| Cash at bank and in hand | 54/58 | €64,436 | €30,942 | -€33,494 | -52.0% |
| Deferred charges and accrued income | 490/1 | €2,248 | €1,830 | -€418 | -18.6% |
| Total equity and liabilities | 10/49 | €174,109 | €106,243 | -€67,866 | -39.0% |
| Equity | 10/15 | €108,532 | €54,089 | -€54,442 | -50.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €82,440 | €82,440 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €80,580 | €80,580 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,492 | -€46,951 | -€54,442 | |
| Amounts payable | 17/49 | €65,578 | €52,154 | -€13,424 | -20.5% |
| Amounts payable within one year | 42/48 | €65,578 | €52,154 | -€13,424 | -20.5% |
| Trade debts | 44 | €18,622 | €3,846 | -€14,776 | -79.3% |
| Suppliers | 440/4 | €18,622 | €3,846 | -€14,776 | -79.3% |
| Taxes, remuneration and social security | 45 | €33,445 | €33,223 | -€222 | -0.7% |
| Taxes | 450/3 | €18,445 | €18,223 | -€222 | -1.2% |
| Remuneration and social security | 454/9 | €15,000 | €15,000 | = | 0.0% |
| Other amounts payable | 47/48 | €13,510 | €15,085 | +€1,574 | +11.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,217 | €32,651 | +€1,433 | +4.6% |
| Other operating charges | 640/8 | €2,535 | €1,844 | -€690 | -27.2% |
| Gross operating margin | 9900 | €69,338 | -€19,144 | -€88,481 | |
| Operating profit (loss) | 9901 | €35,585 | -€53,639 | -€89,225 | |
| Financial income | 75/76B | €105 | €102 | -€4 | -3.6% |
| Recurring financial income | 75 | €105 | €102 | -€4 | -3.6% |
| Financial charges | 65/66B | €848 | €561 | -€287 | -33.9% |
| Recurring financial charges | 65 | €848 | €561 | -€287 | -33.9% |
| Profit (loss) for the period before taxes | 9903 | €34,843 | -€54,098 | -€88,941 | |
| Income taxes | 67/77 | €12,258 | €344 | -€11,914 | -97.2% |
| Profit (loss) for the period | 9904 | €22,585 | -€54,442 | -€77,027 | |
| Profit (loss) for the period to be appropriated | 9905 | €22,585 | -€54,442 | -€77,027 |
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 9 October 2026 via checked.be.