MURAT: 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.
MURAT
Largest movements
- Stocks and contracts -€2,150
down €2,150 (-1.3%), from €170,250 to €168,100
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin -€1,684
down €1,684 (-31.2%), from €5,392 to €3,708
- Other operating charges -€1,401
down €1,401 (-67.7%), from €2,070 to €669
- Financial charges -€246
down €246 (-38.0%), from €647 to €401
- Depreciation +€207
up €207 (+16.3%), from €1,273 to €1,480
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 | €173,026 | €171,211 | -€1,815 | -1.0% |
| Fixed assets | 21/28 | €1,213 | €776 | -€437 | -36.0% |
| Tangible fixed assets | 22/27 | €1,213 | €776 | -€437 | -36.0% |
| Plant, machinery and equipment | 23 | €1,213 | €776 | -€437 | -36.0% |
| Current assets | 29/58 | €171,813 | €170,435 | -€1,378 | -0.8% |
| Stocks and contracts in progress | 3 | €170,250 | €168,100 | -€2,150 | -1.3% |
| Stocks | 30/36 | €170,250 | €168,100 | -€2,150 | -1.3% |
| Cash at bank and in hand | 54/58 | €1,068 | €1,396 | +€328 | +30.7% |
| Deferred charges and accrued income | 490/1 | €495 | €939 | +€444 | +89.7% |
| Total equity and liabilities | 10/49 | €173,026 | €171,211 | -€1,815 | -1.0% |
| Equity | 10/15 | -€49,927 | -€48,769 | +€1,158 | +2.3% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €5,055 | €5,055 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,239 | €1,239 | = | 0.0% |
| Distributable reserves | 133 | €3,816 | €3,816 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€73,574 | -€72,416 | +€1,158 | +1.6% |
| Amounts payable | 17/49 | €222,953 | €219,980 | -€2,973 | -1.3% |
| Amounts payable within one year | 42/48 | €222,953 | €219,980 | -€2,973 | -1.3% |
| Trade debts | 44 | €13,878 | €13,241 | -€637 | -4.6% |
| Suppliers | 440/4 | €13,878 | €13,241 | -€637 | -4.6% |
| Taxes, remuneration and social security | 45 | €6,114 | €5,401 | -€713 | -11.7% |
| Taxes | 450/3 | €6,114 | €4,901 | -€1,213 | -19.8% |
| Remuneration and social security | 454/9 | - | €500 | +€500 | |
| Other amounts payable | 47/48 | €202,961 | €201,338 | -€1,623 | -0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,273 | €1,480 | +€207 | +16.3% |
| Other operating charges | 640/8 | €2,070 | €669 | -€1,401 | -67.7% |
| Gross operating margin | 9900 | €5,392 | €3,708 | -€1,684 | -31.2% |
| Operating profit (loss) | 9901 | €2,049 | €1,559 | -€490 | -23.9% |
| Financial charges | 65/66B | €647 | €401 | -€246 | -38.0% |
| Recurring financial charges | 65 | €647 | €401 | -€246 | -38.0% |
| Profit (loss) for the period before taxes | 9903 | €1,402 | €1,158 | -€244 | -17.4% |
| Profit (loss) for the period | 9904 | €1,402 | €1,158 | -€244 | -17.4% |
| Profit (loss) for the period to be appropriated | 9905 | €1,402 | €1,158 | -€244 | -17.4% |
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 10 October 2026 via checked.be.