Mur Zen Arel: what changed
Mur Zen Arel
Largest movements
- Receivables within one year +€16,537
up €16,537 (+36.0%), from €45,887 to €62,424
of which Trade receivables: +€16,517
- Tangible fixed assets -€14,896
down €14,896 (-7.0%), from €212,734 to €197,838
of which Land and buildings: -€14,254
- Cash +€13,224
up €13,224 (+86.4%), from €15,309 to €28,533
mainly Net result for the year (+€17,645) and Depreciation (+€14,896)
- Debts after one year -€17,701
down €17,701 (-14.4%), from €122,635 to €104,934
- Profit (loss) carried forward +€17,645
up €17,645 (+93.0%), from €18,963 to €36,608
- Trade debts +€11,507
up €11,507 (+106%), from €10,847 to €22,354
- Tax, wage and social debts +€5,637
new in 2025: €5,637
- Gross operating margin +€12,221
up €12,221 (+41.0%), from €29,773 to €41,994
- Taxes +€5,637
new in 2025: €5,637
- Depreciation -€447
down €447 (-2.9%), from €15,343 to €14,896
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €274,174 | €288,795 | +€14,621 | +5.3% |
| Fixed assets | 21/28 | €212,734 | €197,838 | -€14,896 | -7.0% |
| Tangible fixed assets | 22/27 | €212,734 | €197,838 | -€14,896 | -7.0% |
| Land and buildings | 22 | €212,092 | €197,838 | -€14,254 | -6.7% |
| Furniture and vehicles | 24 | €642 | - | -€642 | |
| Current assets | 29/58 | €61,440 | €90,957 | +€29,517 | +48.0% |
| Amounts receivable within one year | 40/41 | €45,887 | €62,424 | +€16,537 | +36.0% |
| Trade receivables | 40 | €45,847 | €62,364 | +€16,517 | +36.0% |
| Other amounts receivable | 41 | €40 | €60 | +€20 | +50.0% |
| Cash at bank and in hand | 54/58 | €15,309 | €28,533 | +€13,224 | +86.4% |
| Deferred charges and accrued income | 490/1 | €244 | - | -€244 | |
| Total equity and liabilities | 10/49 | €274,174 | €288,795 | +€14,621 | +5.3% |
| Equity | 10/15 | €28,963 | €46,608 | +€17,645 | +60.9% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €18,963 | €36,608 | +€17,645 | +93.0% |
| Amounts payable | 17/49 | €245,211 | €242,187 | -€3,024 | -1.2% |
| Amounts payable after more than one year | 17 | €122,635 | €104,934 | -€17,701 | -14.4% |
| Financial debts | 170/4 | €122,635 | €104,934 | -€17,701 | -14.4% |
| Amounts payable within one year | 42/48 | €118,390 | €135,693 | +€17,303 | +14.6% |
| Current portion of amounts payable after more than one year | 42 | €17,543 | €17,702 | +€159 | +0.9% |
| Trade debts | 44 | €10,847 | €22,354 | +€11,507 | +106% |
| Suppliers | 440/4 | €10,847 | €22,354 | +€11,507 | +106% |
| Taxes, remuneration and social security | 45 | - | €5,637 | +€5,637 | |
| Taxes | 450/3 | - | €5,637 | +€5,637 | |
| Other amounts payable | 47/48 | €90,000 | €90,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €4,186 | €1,560 | -€2,626 | -62.7% |
| Non-recurring operating income | 76A | - | €12,497 | +€12,497 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,343 | €14,896 | -€447 | -2.9% |
| Other operating charges | 640/8 | €2,437 | €2,445 | +€8 | +0.3% |
| Gross operating margin | 9900 | €29,773 | €41,994 | +€12,221 | +41.0% |
| Operating profit (loss) | 9901 | €11,993 | €24,653 | +€12,660 | +106% |
| Financial charges | 65/66B | €1,664 | €1,371 | -€293 | -17.6% |
| Recurring financial charges | 65 | €1,664 | €1,371 | -€293 | -17.6% |
| Profit (loss) for the period before taxes | 9903 | €10,329 | €23,282 | +€12,953 | +125% |
| Income taxes | 67/77 | - | €5,637 | +€5,637 | |
| Profit (loss) for the period | 9904 | €10,329 | €17,645 | +€7,316 | +70.8% |
| Profit (loss) for the period to be appropriated | 9905 | €10,329 | €17,645 | +€7,316 | +70.8% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.