MURAPACK: 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.
MURAPACK
Largest movements
- Stocks and contracts +€86,445
up €86,445 (+24.5%), from €352,788 to €439,233
- Cash -€54,361
down €54,361 (-83.1%), from €65,431 to €11,070
mainly Stocks and contracts (-€86,445) and Debts after one year (-€57,889)
- Tangible fixed assets -€33,147
down €33,147 (-6.8%), from €487,321 to €454,174
of which Plant, machinery and equipment: -€30,059
- Receivables within one year +€19,352
up €19,352 (+5.0%), from €389,767 to €409,119
of which Other amounts receivable: +€12,413
- Short-term financial debts +€58,557
up €58,557 (+31.7%), from €185,000 to €243,557
- Debts after one year -€57,889
down €57,889 (-27.8%), from €208,565 to €150,676
- Trade debts +€52,238
up €52,238 (+39.6%), from €132,009 to €184,248
- Other debts -€30,000
no longer reported in 2025 (was €30,000)
- Profit (loss) carried forward +€22,779
up €22,779 (+9.6%), from €237,961 to €260,739
- Gross operating margin -€79,555
down €79,555 (-9.6%), from €827,827 to €748,271
- Taxes -€28,320
down €28,320 (-78.9%), from €35,907 to €7,587
- Staff costs +€23,066
up €23,066 (+3.9%), from €586,560 to €609,626
- Depreciation +€14,662
up €14,662 (+35.7%), from €41,091 to €55,753
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 | €1,295,598 | €1,322,079 | +€26,481 | +2.0% |
| Fixed assets | 21/28 | €487,321 | €454,174 | -€33,147 | -6.8% |
| Tangible fixed assets | 22/27 | €487,321 | €454,174 | -€33,147 | -6.8% |
| Land and buildings | 22 | €307,360 | €299,240 | -€8,120 | -2.6% |
| Plant, machinery and equipment | 23 | €175,449 | €145,390 | -€30,059 | -17.1% |
| Furniture and vehicles | 24 | €4,511 | €9,543 | +€5,032 | +111.5% |
| Current assets | 29/58 | €808,277 | €867,905 | +€59,628 | +7.4% |
| Stocks and contracts in progress | 3 | €352,788 | €439,233 | +€86,445 | +24.5% |
| Stocks | 30/36 | €352,788 | €439,233 | +€86,445 | +24.5% |
| Amounts receivable within one year | 40/41 | €389,767 | €409,119 | +€19,352 | +5.0% |
| Trade receivables | 40 | €389,767 | €396,707 | +€6,940 | +1.8% |
| Other amounts receivable | 41 | - | €12,413 | +€12,413 | |
| Cash at bank and in hand | 54/58 | €65,431 | €11,070 | -€54,361 | -83.1% |
| Deferred charges and accrued income | 490/1 | €291 | €8,483 | +€8,192 | +2817.7% |
| Total equity and liabilities | 10/49 | €1,295,598 | €1,322,079 | +€26,481 | +2.0% |
| Equity | 10/15 | €577,559 | €600,338 | +€22,779 | +3.9% |
| Contributions | 10/11 | €330,000 | €330,000 | = | 0.0% |
| Reserves | 13 | €9,599 | €9,599 | = | 0.0% |
| Non-distributable reserves | 130/1 | €9,599 | €9,599 | = | 0.0% |
| Reserves not available under the articles | 1311 | €9,599 | €9,599 | = | 0.0% |
| Profit (loss) carried forward | 14 | €237,961 | €260,739 | +€22,779 | +9.6% |
| Amounts payable | 17/49 | €718,039 | €721,741 | +€3,702 | +0.5% |
| Amounts payable after more than one year | 17 | €208,565 | €150,676 | -€57,889 | -27.8% |
| Financial debts | 170/4 | €208,565 | €150,676 | -€57,889 | -27.8% |
| Amounts payable within one year | 42/48 | €509,474 | €571,065 | +€61,591 | +12.1% |
| Current portion of amounts payable after more than one year | 42 | €56,212 | €57,889 | +€1,677 | +3.0% |
| Financial debts | 43 | €185,000 | €243,557 | +€58,557 | +31.7% |
| Credit institutions | 430/8 | €185,000 | €243,557 | +€58,557 | +31.7% |
| Trade debts | 44 | €132,009 | €184,248 | +€52,238 | +39.6% |
| Suppliers | 440/4 | €132,009 | €184,248 | +€52,238 | +39.6% |
| Taxes, remuneration and social security | 45 | €106,253 | €85,372 | -€20,881 | -19.7% |
| Taxes | 450/3 | €49,310 | €23,416 | -€25,894 | -52.5% |
| Remuneration and social security | 454/9 | €56,943 | €61,955 | +€5,012 | +8.8% |
| Other amounts payable | 47/48 | €30,000 | - | -€30,000 | |
| Remuneration, social security and pensions | 62 | €586,560 | €609,626 | +€23,066 | +3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,091 | €55,753 | +€14,662 | +35.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €7,529 | +€7,529 | |
| Other operating charges | 640/8 | €24,921 | €24,833 | -€88 | -0.4% |
| Gross operating margin | 9900 | €827,827 | €748,271 | -€79,555 | -9.6% |
| Operating profit (loss) | 9901 | €175,255 | €50,530 | -€124,725 | -71.2% |
| Financial income | 75/76B | €75 | €154 | +€79 | +105.3% |
| Recurring financial income | 75 | €75 | €154 | +€79 | +105.3% |
| Financial charges | 65/66B | €23,468 | €20,318 | -€3,150 | -13.4% |
| Recurring financial charges | 65 | €23,468 | €20,318 | -€3,150 | -13.4% |
| Profit (loss) for the period before taxes | 9903 | €151,862 | €30,366 | -€121,496 | -80.0% |
| Income taxes | 67/77 | €35,907 | €7,587 | -€28,320 | -78.9% |
| Profit (loss) for the period | 9904 | €115,955 | €22,779 | -€93,176 | -80.4% |
| Profit (loss) for the period to be appropriated | 9905 | €115,955 | €22,779 | -€93,176 | -80.4% |
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 8 October 2026 via checked.be.