MURANEUF: 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.
MURANEUF
Largest movements
- Receivables within one year +€48,328
up €48,328 (+38.7%), from €124,797 to €173,125
of which Trade receivables: +€57,592
- Cash -€23,341
down €23,341 (-28.2%), from €82,760 to €59,419
mainly Trade debts (-€56,103) and Receivables within one year (-€48,328)
- Tangible fixed assets -€19,007
down €19,007 (-6.9%), from €277,293 to €258,286
of which Plant, machinery and equipment: -€10,579
- Intangible fixed assets +€18,792
up €18,792, from €0 to €18,792
- Tax, wage and social debts +€64,676
up €64,676 (+80.7%), from €80,110 to €144,786
of which Remuneration and social security: +€63,513
- Trade debts -€56,103
down €56,103 (-27.5%), from €203,969 to €147,867
- Profit (loss) carried forward +€47,854
up €47,854 (+6.5%), from €737,124 to €784,977
- Short-term financial debts -€24,445
down €24,445 (-21.0%), from €116,625 to €92,180
- Other debts -€14,695
down €14,695 (-64.3%), from €22,853 to €8,158
- Staff costs +€166,754
up €166,754 (+78.5%), from €212,550 to €379,304
- Gross operating margin +€53,444
up €53,444 (+10.6%), from €504,932 to €558,376
- Turnover +€53,318
up €53,318 (+4.0%), from €1.3m to €1.4m
- Purchases and services -€29,333
down €29,333 (-3.4%), from €861,417 to €832,085
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 | €1,348,788 | €1,372,833 | +€24,045 | +1.8% |
| Fixed assets | 21/28 | €277,293 | €277,078 | -€215 | -0.1% |
| Intangible fixed assets | 21 | €0 | €18,792 | +€18,792 | |
| Tangible fixed assets | 22/27 | €277,293 | €258,286 | -€19,007 | -6.9% |
| Land and buildings | 22 | €182,383 | €175,766 | -€6,617 | -3.6% |
| Plant, machinery and equipment | 23 | €86,541 | €75,963 | -€10,579 | -12.2% |
| Furniture and vehicles | 24 | €8,369 | €6,557 | -€1,811 | -21.6% |
| Current assets | 29/58 | €1,071,496 | €1,095,755 | +€24,260 | +2.3% |
| Stocks and contracts in progress | 3 | €859,126 | €861,228 | +€2,102 | +0.2% |
| Stocks | 30/36 | €859,126 | €861,228 | +€2,102 | +0.2% |
| Amounts receivable within one year | 40/41 | €124,797 | €173,125 | +€48,328 | +38.7% |
| Trade receivables | 40 | €114,203 | €171,795 | +€57,592 | +50.4% |
| Other amounts receivable | 41 | €10,594 | €1,330 | -€9,264 | -87.4% |
| Cash at bank and in hand | 54/58 | €82,760 | €59,419 | -€23,341 | -28.2% |
| Deferred charges and accrued income | 490/1 | €4,813 | €1,983 | -€2,830 | -58.8% |
| Total equity and liabilities | 10/49 | €1,348,788 | €1,372,833 | +€24,045 | +1.8% |
| Equity | 10/15 | €757,584 | €805,437 | +€47,854 | +6.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 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% |
| Profit (loss) carried forward | 14 | €737,124 | €784,977 | +€47,854 | +6.5% |
| Amounts payable | 17/49 | €591,205 | €567,396 | -€23,809 | -4.0% |
| Amounts payable after more than one year | 17 | €140,260 | €140,291 | +€31 | 0.0% |
| Financial debts | 170/4 | €140,260 | €140,291 | +€31 | 0.0% |
| Amounts payable within one year | 42/48 | €450,945 | €427,105 | -€23,840 | -5.3% |
| Current portion of amounts payable after more than one year | 42 | €27,387 | €34,114 | +€6,727 | +24.6% |
| Financial debts | 43 | €116,625 | €92,180 | -€24,445 | -21.0% |
| Credit institutions | 430/8 | €116,625 | €92,180 | -€24,445 | -21.0% |
| Trade debts | 44 | €203,969 | €147,867 | -€56,103 | -27.5% |
| Suppliers | 440/4 | €203,969 | €147,867 | -€56,103 | -27.5% |
| Taxes, remuneration and social security | 45 | €80,110 | €144,786 | +€64,676 | +80.7% |
| Taxes | 450/3 | €62,313 | €63,476 | +€1,162 | +1.9% |
| Remuneration and social security | 454/9 | €17,797 | €81,310 | +€63,513 | +356.9% |
| Other amounts payable | 47/48 | €22,853 | €8,158 | -€14,695 | -64.3% |
| Turnover | 70 | €1,341,172 | €1,394,491 | +€53,318 | +4.0% |
| Non-recurring operating income | 76A | €0 | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €861,417 | €832,085 | -€29,333 | -3.4% |
| Remuneration, social security and pensions | 62 | €212,550 | €379,304 | +€166,754 | +78.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,638 | €44,261 | +€4,622 | +11.7% |
| Other operating charges | 640/8 | €7,490 | €12,068 | +€4,578 | +61.1% |
| Gross operating margin | 9900 | €504,932 | €558,376 | +€53,444 | +10.6% |
| Operating profit (loss) | 9901 | €245,254 | €122,743 | -€122,511 | -50.0% |
| Financial income | 75/76B | €1,080 | €609 | -€471 | -43.6% |
| Recurring financial income | 75 | €1,080 | €609 | -€471 | -43.6% |
| Financial charges | 65/66B | €28,065 | €26,475 | -€1,590 | -5.7% |
| Recurring financial charges | 65 | €28,065 | €26,475 | -€1,590 | -5.7% |
| Non-recurring financial charges | 66B | €0 | €0 | = | |
| Profit (loss) for the period before taxes | 9903 | €218,268 | €96,877 | -€121,392 | -55.6% |
| Income taxes | 67/77 | €59,949 | €49,023 | -€10,926 | -18.2% |
| Profit (loss) for the period | 9904 | €158,320 | €47,854 | -€110,466 | -69.8% |
| Profit (loss) for the period to be appropriated | 9905 | €158,320 | €47,854 | -€110,466 | -69.8% |
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 12 October 2026 via checked.be.