MURAD: 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.
MURAD
Largest movements
- Tangible fixed assets -€15,553
down €15,553 (-2.6%), from €588,139 to €572,586
- Other debts -€14,800
down €14,800 (-7.1%), from €207,666 to €192,866
- Short-term financial debts -€7,429
down €7,429 (-100.0%), from €7,429 to €0
- Reserves +€6,679
up €6,679 (+3.1%), from €216,922 to €223,601
of which Distributable reserves: +€6,679
- Gross operating margin -€6,642
down €6,642 (-10.7%), from €61,871 to €55,229
- Taxes -€1,787
down €1,787 (-41.6%), from €4,291 to €2,505
- Other operating charges +€707
up €707 (+6.1%), from €11,559 to €12,266
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 | €621,342 | €604,101 | -€17,241 | -2.8% |
| Fixed assets | 21/28 | €588,164 | €572,611 | -€15,553 | -2.6% |
| Tangible fixed assets | 22/27 | €588,139 | €572,586 | -€15,553 | -2.6% |
| Land and buildings | 22 | €588,139 | €572,586 | -€15,553 | -2.6% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €33,178 | €31,490 | -€1,688 | -5.1% |
| Amounts receivable within one year | 40/41 | €1,818 | €0 | -€1,818 | -100.0% |
| Trade receivables | 40 | €1,818 | €0 | -€1,818 | -100.0% |
| Cash at bank and in hand | 54/58 | €31,360 | €31,490 | +€129 | +0.4% |
| Total equity and liabilities | 10/49 | €621,342 | €604,101 | -€17,241 | -2.8% |
| Equity | 10/15 | €401,947 | €408,626 | +€6,679 | +1.7% |
| Contributions | 10/11 | €180,000 | €180,000 | = | 0.0% |
| Capital | 10 | €180,000 | €180,000 | = | 0.0% |
| Issued capital | 100 | €180,000 | €180,000 | = | 0.0% |
| Reserves | 13 | €216,922 | €223,601 | +€6,679 | +3.1% |
| Non-distributable reserves | 130/1 | €18,000 | €18,000 | = | 0.0% |
| Legal reserve | 130 | €18,000 | €18,000 | = | 0.0% |
| Distributable reserves | 133 | €198,922 | €205,601 | +€6,679 | +3.4% |
| Profit (loss) carried forward | 14 | €5,025 | €5,025 | = | 0.0% |
| Amounts payable | 17/49 | €219,395 | €195,475 | -€23,920 | -10.9% |
| Amounts payable within one year | 42/48 | €219,395 | €195,475 | -€23,920 | -10.9% |
| Financial debts | 43 | €7,429 | €0 | -€7,429 | -100.0% |
| Credit institutions | 430/8 | €7,429 | €0 | -€7,429 | -100.0% |
| Trade debts | 44 | €0 | €1,959 | +€1,959 | |
| Suppliers | 440/4 | €0 | €1,959 | +€1,959 | |
| Taxes, remuneration and social security | 45 | €4,301 | €650 | -€3,651 | -84.9% |
| Taxes | 450/3 | €4,301 | €650 | -€3,651 | -84.9% |
| Other amounts payable | 47/48 | €207,666 | €192,866 | -€14,800 | -7.1% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,553 | €15,553 | = | 0.0% |
| Other operating charges | 640/8 | €11,559 | €12,266 | +€707 | +6.1% |
| Gross operating margin | 9900 | €61,871 | €55,229 | -€6,642 | -10.7% |
| Operating profit (loss) | 9901 | €34,759 | €27,410 | -€7,349 | -21.1% |
| Financial income | 75/76B | €95 | €183 | +€88 | +92.5% |
| Recurring financial income | 75 | €95 | €183 | +€88 | +92.5% |
| Financial charges | 65/66B | €1,201 | €910 | -€292 | -24.3% |
| Recurring financial charges | 65 | €1,201 | €910 | -€292 | -24.3% |
| Profit (loss) for the period before taxes | 9903 | €33,653 | €26,684 | -€6,969 | -20.7% |
| Income taxes | 67/77 | €4,291 | €2,505 | -€1,787 | -41.6% |
| Profit (loss) for the period | 9904 | €29,361 | €24,179 | -€5,182 | -17.6% |
| Profit (loss) for the period to be appropriated | 9905 | €29,361 | €24,179 | -€5,182 | -17.6% |
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 5 October 2026 via checked.be.