MUREMO: 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.
MUREMO
Largest movements
- Cash +€107,015
up €107,015 (+38.0%), from €281,827 to €388,841
mainly Stocks and contracts (+€80,000) and Net result for the year (+€51,443)
- Stocks and contracts -€80,000
down €80,000 (-89.0%), from €89,877 to €9,877
- Receivables after one year -€20,000
down €20,000 (-100.0%), from €20,000 to €0
- Tangible fixed assets -€9,035
down €9,035 (-30.5%), from €29,580 to €20,545
- Reserves +€19,358
up €19,358 (+6.2%), from €312,887 to €332,244
of which Distributable reserves: +€19,358
- Trade debts -€13,864
down €13,864 (-28.9%), from €47,995 to €34,130
- Debts after one year -€8,518
down €8,518 (-85.4%), from €9,977 to €1,460
- Financial income -€5,431
down €5,431 (-93.0%), from €5,838 to €407
- Financial charges -€2,180
down €2,180 (-57.0%), from €3,827 to €1,647
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 | €461,710 | €463,871 | +€2,161 | +0.5% |
| Fixed assets | 21/28 | €29,580 | €20,545 | -€9,035 | -30.5% |
| Tangible fixed assets | 22/27 | €29,580 | €20,545 | -€9,035 | -30.5% |
| Furniture and vehicles | 24 | €29,580 | €20,545 | -€9,035 | -30.5% |
| Current assets | 29/58 | €432,129 | €443,325 | +€11,196 | +2.6% |
| Amounts receivable after more than one year | 29 | €20,000 | €0 | -€20,000 | -100.0% |
| Other amounts receivable | 291 | €20,000 | €0 | -€20,000 | -100.0% |
| Stocks and contracts in progress | 3 | €89,877 | €9,877 | -€80,000 | -89.0% |
| Stocks | 30/36 | €89,877 | €9,877 | -€80,000 | -89.0% |
| Amounts receivable within one year | 40/41 | €40,426 | €44,607 | +€4,181 | +10.3% |
| Trade receivables | 40 | €33,411 | €44,607 | +€11,196 | +33.5% |
| Other amounts receivable | 41 | €7,015 | €0 | -€7,015 | -100.0% |
| Cash at bank and in hand | 54/58 | €281,827 | €388,841 | +€107,015 | +38.0% |
| Total equity and liabilities | 10/49 | €461,710 | €463,871 | +€2,161 | +0.5% |
| Equity | 10/15 | €374,887 | €394,244 | +€19,358 | +5.2% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €312,887 | €332,244 | +€19,358 | +6.2% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €306,687 | €326,044 | +€19,358 | +6.3% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €86,823 | €69,626 | -€17,197 | -19.8% |
| Amounts payable after more than one year | 17 | €9,977 | €1,460 | -€8,518 | -85.4% |
| Financial debts | 170/4 | €9,977 | €1,460 | -€8,518 | -85.4% |
| Amounts payable within one year | 42/48 | €76,846 | €68,167 | -€8,679 | -11.3% |
| Current portion of amounts payable after more than one year | 42 | €8,117 | €8,518 | +€400 | +4.9% |
| Trade debts | 44 | €47,995 | €34,130 | -€13,864 | -28.9% |
| Suppliers | 440/4 | €47,995 | €34,130 | -€13,864 | -28.9% |
| Advances received on contracts in progress | 46 | €3,285 | €5,204 | +€1,919 | +58.4% |
| Taxes, remuneration and social security | 45 | €16,508 | €17,652 | +€1,144 | +6.9% |
| Taxes | 450/3 | €16,508 | €17,652 | +€1,144 | +6.9% |
| Other amounts payable | 47/48 | €941 | €2,662 | +€1,722 | +183.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,035 | €9,035 | = | 0.0% |
| Other operating charges | 640/8 | €1,134 | €1,967 | +€832 | +73.4% |
| Gross operating margin | 9900 | €91,270 | €91,165 | -€106 | -0.1% |
| Operating profit (loss) | 9901 | €81,101 | €80,163 | -€938 | -1.2% |
| Financial income | 75/76B | €5,838 | €407 | -€5,431 | -93.0% |
| Recurring financial income | 75 | €5,838 | €407 | -€5,431 | -93.0% |
| Financial charges | 65/66B | €3,827 | €1,647 | -€2,180 | -57.0% |
| Recurring financial charges | 65 | €3,827 | €1,647 | -€2,180 | -57.0% |
| Profit (loss) for the period before taxes | 9903 | €83,111 | €78,923 | -€4,189 | -5.0% |
| Income taxes | 67/77 | €27,570 | €27,479 | -€91 | -0.3% |
| Profit (loss) for the period | 9904 | €55,541 | €51,443 | -€4,098 | -7.4% |
| Profit (loss) for the period to be appropriated | 9905 | €55,541 | €51,443 | -€4,098 | -7.4% |
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 29 September 2026 via checked.be.