MURIEL ANTOINE: 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.
MURIEL ANTOINE
Largest movements
- Cash -€3,315
down €3,315 (-36.9%), from €8,988 to €5,673
mainly Net result for the year (-€3,475) and Other debts (-€1,026)
- Tangible fixed assets -€860
down €860 (-54.2%), from €1,586 to €727
- Receivables within one year -€377
down €377 (-82.7%), from €456 to €79
of which Trade receivables: -€367
- Profit (loss) carried forward -€3,475
down €3,475 (-76.5%), from -€4,541 to -€8,015
- Other debts -€1,026
down €1,026 (-10.0%), from €10,231 to €9,205
- Trade debts -€342
down €342 (-37.8%), from €904 to €562
- Tax, wage and social debts +€178
up €178, from €0 to €178
- Gross operating margin +€5,441
up €5,441 (+71.7%), from -€7,586 to -€2,145
- Depreciation +€232
up €232 (+36.9%), from €628 to €860
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.
Derived cash bridge
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 | €11,594 | €6,930 | -€4,664 | -40.2% |
| Fixed assets | 21/28 | €1,586 | €727 | -€860 | -54.2% |
| Tangible fixed assets | 22/27 | €1,586 | €727 | -€860 | -54.2% |
| Furniture and vehicles | 24 | €1,586 | €727 | -€860 | -54.2% |
| Current assets | 29/58 | €10,008 | €6,203 | -€3,805 | -38.0% |
| Stocks and contracts in progress | 3 | €564 | €452 | -€112 | -19.9% |
| Stocks | 30/36 | €564 | €452 | -€112 | -19.9% |
| Amounts receivable within one year | 40/41 | €456 | €79 | -€377 | -82.7% |
| Trade receivables | 40 | €367 | €0 | -€367 | -100% |
| Other amounts receivable | 41 | €89 | €79 | -€10 | -11.5% |
| Cash at bank and in hand | 54/58 | €8,988 | €5,673 | -€3,315 | -36.9% |
| Total equity and liabilities | 10/49 | €11,594 | €6,930 | -€4,664 | -40.2% |
| Equity | 10/15 | €459 | -€3,015 | -€3,475 | |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,541 | -€8,015 | -€3,475 | -76.5% |
| Amounts payable | 17/49 | €11,135 | €9,945 | -€1,190 | -10.7% |
| Amounts payable within one year | 42/48 | €11,135 | €9,945 | -€1,190 | -10.7% |
| Trade debts | 44 | €904 | €562 | -€342 | -37.8% |
| Suppliers | 440/4 | €904 | €562 | -€342 | -37.8% |
| Taxes, remuneration and social security | 45 | €0 | €178 | +€178 | |
| Taxes | 450/3 | €0 | €178 | +€178 | |
| Other amounts payable | 47/48 | €10,231 | €9,205 | -€1,026 | -10.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €628 | €860 | +€232 | +36.9% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | -€7,586 | -€2,145 | +€5,441 | +71.7% |
| Operating profit (loss) | 9901 | -€8,601 | -€3,405 | +€5,197 | +60.4% |
| Financial income | 75/76B | €1 | €2 | +€2 | +344% |
| Recurring financial income | 75 | €1 | €2 | +€2 | +344% |
| Financial charges | 65/66B | €72 | €72 | +€0 | +0.5% |
| Recurring financial charges | 65 | €72 | €72 | +€0 | +0.5% |
| Profit (loss) for the period before taxes | 9903 | -€8,673 | -€3,475 | +€5,198 | +59.9% |
| Profit (loss) for the period | 9904 | -€8,673 | -€3,475 | +€5,198 | +59.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,673 | -€3,475 | +€5,198 | +59.9% |
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 26 October 2026 via checked.be.