MURIELLE LEBRUN: 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.
MURIELLE LEBRUN
Largest movements
- Receivables within one year +€39,545
up €39,545 (+103%), from €38,421 to €77,966
of which Trade receivables: +€40,685
- Cash +€6,414
up €6,414 (+47.6%), from €13,470 to €19,885
mainly Net result for the year (+€24,353) and Other debts (+€22,164)
- Tangible fixed assets -€2,225
down €2,225 (-36.5%), from €6,102 to €3,877
- Other debts +€22,164
up €22,164 (+713%), from €3,107 to €25,270
- Tax, wage and social debts +€13,374
up €13,374 (+93.2%), from €14,348 to €27,722
of which Remuneration and social security: +€11,076
- Trade debts +€4,544
up €4,544 (+57.5%), from €7,904 to €12,447
- Profit (loss) carried forward +€3,653
up €3,653 (+13.1%), from €27,794 to €31,447
- Turnover +€101,542
up €101,542 (+40.6%), from €250,008 to €351,550
- Gross operating margin +€78,473
up €78,473 (+45.3%), from €173,231 to €251,705
- Staff costs +€58,255
up €58,255 (+35.3%), from €165,153 to €223,407
- Purchases and services +€16,841
up €16,841 (+12.6%), from €133,985 to €150,826
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 | €58,152 | €101,886 | +€43,734 | +75.2% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €6,102 | €3,877 | -€2,225 | -36.5% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €6,102 | €3,877 | -€2,225 | -36.5% |
| Furniture and vehicles | 24 | €6,102 | €3,877 | -€2,225 | -36.5% |
| Current assets | 29/58 | €52,050 | €98,009 | +€45,959 | +88.3% |
| Amounts receivable within one year | 40/41 | €38,421 | €77,966 | +€39,545 | +103% |
| Trade receivables | 40 | €37,242 | €77,927 | +€40,685 | +109% |
| Other amounts receivable | 41 | €1,179 | €39 | -€1,140 | -96.7% |
| Cash at bank and in hand | 54/58 | €13,470 | €19,885 | +€6,414 | +47.6% |
| Deferred charges and accrued income | 490/1 | €158 | €158 | = | 0.0% |
| Total equity and liabilities | 10/49 | €58,152 | €101,886 | +€43,734 | +75.2% |
| Equity | 10/15 | €32,794 | €36,447 | +€3,653 | +11.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €27,794 | €31,447 | +€3,653 | +13.1% |
| Amounts payable | 17/49 | €25,358 | €65,439 | +€40,081 | +158% |
| Amounts payable within one year | 42/48 | €25,358 | €65,439 | +€40,081 | +158% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €7,904 | €12,447 | +€4,544 | +57.5% |
| Suppliers | 440/4 | €7,904 | €12,447 | +€4,544 | +57.5% |
| Taxes, remuneration and social security | 45 | €14,348 | €27,722 | +€13,374 | +93.2% |
| Taxes | 450/3 | €6,569 | €8,867 | +€2,298 | +35.0% |
| Remuneration and social security | 454/9 | €7,778 | €18,855 | +€11,076 | +142% |
| Other amounts payable | 47/48 | €3,107 | €25,270 | +€22,164 | +713% |
| Turnover | 70 | €250,008 | €351,550 | +€101,542 | +40.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €133,985 | €150,826 | +€16,841 | +12.6% |
| Remuneration, social security and pensions | 62 | €165,153 | €223,407 | +€58,255 | +35.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,568 | €2,225 | -€2,343 | -51.3% |
| Gross operating margin | 9900 | €173,231 | €251,705 | +€78,473 | +45.3% |
| Operating profit (loss) | 9901 | €3,511 | €26,072 | +€22,562 | +643% |
| Financial income | 75/76B | €260 | €2 | -€258 | -99.2% |
| Recurring financial income | 75 | €260 | €2 | -€258 | -99.2% |
| Financial charges | 65/66B | €2,113 | €1,561 | -€552 | -26.1% |
| Recurring financial charges | 65 | €2,113 | €1,561 | -€552 | -26.1% |
| Profit (loss) for the period before taxes | 9903 | €1,657 | €24,513 | +€22,857 | +1,380% |
| Income taxes | 67/77 | -€892 | €161 | +€1,053 | |
| Profit (loss) for the period | 9904 | €2,549 | €24,353 | +€21,804 | +855% |
| Profit (loss) for the period to be appropriated | 9905 | €2,549 | €24,353 | +€21,804 | +855% |
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 29 October 2026 via checked.be.