MURPRO GROUP: 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.
What changed
MURPRO GROUP
NACE 64.210, Activities of holding companies
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€22.1m
2024 · €11.9m+€10.2m
Equity
€90.2m
2024 · €72.2m+€18.0m
Cash
€38.0m
2024 · €22.5m+€15.5m
Balance sheet total
€93.1m
2024 · €76.8m+€16.3m
Largest movements
Assets
- Cash +€15.5m
up €15.5m (+68.9%), from €22.5m to €38.0m
mainly Net result for the year (+€22.1m) and Receivables after one year (+€881,755)
- Receivables within one year +€1.5m
up €1.5m (+56.6%), from €2.7m to €4.2m
of which Trade receivables: +€1.2m
Equity and liabilities
- Reserves +€18.0m
up €18.0m (+38.3%), from €47.2m to €65.2m
of which Distributable reserves: +€18.0m
- Debts after one year -€1.0m
down €1.0m (-49.6%), from €2.1m to €1.0m
- Current portion of long-term debt -€984,373
down €984,373 (-49.0%), from €2.0m to €1.0m
Income statement
- Financial income +€10.2m
up €10.2m (+84.5%), from €12.1m to €22.4m
- Turnover +€987,554
up €987,554 (+80.5%), from €1.2m to €2.2m
- Staff costs +€905,561
up €905,561 (+100.0%), from €905,802 to €1.8m
- Services and other goods +€262,300
up €262,300 (+80.0%), from €327,785 to €590,085
- Financial charges -€98,061
down €98,061 (-69.2%), from €141,708 to €43,647
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.
Result 2024
€11.9m
Turnover
+€987,554
Other operating income
+€14,493
Services and other goods
-€262,300
Staff costs
-€905,561
Depreciation
+€6,900
Other operating charges
-€5,333
Financial income
+€10.2m
Financial charges
+€98,061
Taxes
+€1,636
Result 2025
€22.1m
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.
From operations
+€21.8m
Investment
-€233,931
Financing
-€6.0m
Cash 2024
€22.5m
From operations (derived)
+€21.8m
Net result for the year
+€22.1m
Depreciation
+€95,763
Receivables after one year
+€881,755
Receivables within one year
-€1.5m
Smaller working-capital items
+€28,048
Tax, wage and social debts
+€353,071
Other debts
-€121,831
Investment (derived)
-€233,931
Investment in fixed assets (net)
-€233,931
Financing
-€6.0m
Debts after one year
-€1.0m
Current portion of long-term debt
-€984,373
Contributions, distributions and other
-€4.0m
Cash 2025
€38.0m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €76,771,136 | €93,056,490 | +€16.3m | +21.2% |
| Fixed assets | 21/28 | €48,905,498 | €49,043,666 | +€138,168 | +0.3% |
| Intangible fixed assets | 21 | €127,524 | €141,178 | +€13,654 | +10.7% |
| Tangible fixed assets | 22/27 | €6,747 | €16,261 | +€9,514 | +141.0% |
| Furniture and vehicles | 24 | €2,712 | €11,172 | +€8,460 | +311.9% |
| Other tangible fixed assets | 26 | €4,035 | €5,089 | +€1,054 | +26.1% |
| Financial fixed assets | 28 | €48,771,227 | €48,886,227 | +€115,000 | +0.2% |
| Affiliated companies | 280/1 | €48,771,227 | €48,886,227 | +€115,000 | +0.2% |
| Participating interests | 280 | €48,771,227 | €48,886,227 | +€115,000 | +0.2% |
| Current assets | 29/58 | €27,865,638 | €44,012,824 | +€16.1m | +57.9% |
| Amounts receivable after more than one year | 29 | €2,646,547 | €1,764,792 | -€881,755 | -33.3% |
| Other amounts receivable | 291 | €2,646,547 | €1,764,792 | -€881,755 | -33.3% |
| Amounts receivable within one year | 40/41 | €2,662,532 | €4,170,737 | +€1.5m | +56.6% |
| Trade receivables | 40 | €1,372,772 | €2,605,059 | +€1.2m | +89.8% |
| Other amounts receivable | 41 | €1,289,760 | €1,565,678 | +€275,918 | +21.4% |
| Cash at bank and in hand | 54/58 | €22,523,823 | €38,044,812 | +€15.5m | +68.9% |
| Deferred charges and accrued income | 490/1 | €32,736 | €32,483 | -€253 | -0.8% |
| Total equity and liabilities | 10/49 | €76,771,136 | €93,056,490 | +€16.3m | +21.2% |
| Equity | 10/15 | €72,203,079 | €90,236,776 | +€18.0m | +25.0% |
| Contributions | 10/11 | €25,004,520 | €25,004,520 | = | 0.0% |
| Capital | 10 | €25,004,520 | €25,004,520 | = | 0.0% |
| Issued capital | 100 | €25,004,520 | €25,004,520 | = | 0.0% |
| Reserves | 13 | €47,160,452 | €65,200,452 | +€18.0m | +38.3% |
| Non-distributable reserves | 130/1 | €2,500,452 | €2,500,452 | = | 0.0% |
| Legal reserve | 130 | €2,500,452 | €2,500,452 | = | 0.0% |
| Distributable reserves | 133 | €44,660,000 | €62,700,000 | +€18.0m | +40.4% |
| Profit (loss) carried forward | 14 | €38,107 | €31,804 | -€6,303 | -16.5% |
| Amounts payable | 17/49 | €4,568,057 | €2,819,714 | -€1.7m | -38.3% |
| Amounts payable after more than one year | 17 | €2,061,880 | €1,038,875 | -€1.0m | -49.6% |
| Financial debts | 170/4 | €2,061,880 | €1,038,875 | -€1.0m | -49.6% |
| Other loans | 174 | €2,061,880 | €1,038,875 | -€1.0m | -49.6% |
| Amounts payable within one year | 42/48 | €2,470,234 | €1,763,021 | -€707,213 | -28.6% |
| Current portion of amounts payable after more than one year | 42 | €2,007,378 | €1,023,005 | -€984,373 | -49.0% |
| Trade debts | 44 | €25,139 | €71,059 | +€45,920 | +182.7% |
| Suppliers | 440/4 | €25,139 | €71,059 | +€45,920 | +182.7% |
| Taxes, remuneration and social security | 45 | €249,859 | €602,930 | +€353,071 | +141.3% |
| Taxes | 450/3 | €39,751 | €320,458 | +€280,707 | +706.2% |
| Remuneration and social security | 454/9 | €210,108 | €282,472 | +€72,364 | +34.4% |
| Other amounts payable | 47/48 | €187,858 | €66,027 | -€121,831 | -64.9% |
| Accrued charges and deferred income | 492/3 | €35,943 | €17,818 | -€18,125 | -50.4% |
| Operating income | 70/76A | €1,277,903 | €2,279,950 | +€1.0m | +78.4% |
| Turnover | 70 | €1,226,237 | €2,213,791 | +€987,554 | +80.5% |
| Other operating income | 74 | €51,666 | €66,159 | +€14,493 | +28.1% |
| Operating charges | 60/66A | €1,343,302 | €2,509,596 | +€1.2m | +86.8% |
| Services and other goods | 61 | €327,785 | €590,085 | +€262,300 | +80.0% |
| Remuneration, social security and pensions | 62 | €905,802 | €1,811,363 | +€905,561 | +100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €102,663 | €95,763 | -€6,900 | -6.7% |
| Other operating charges | 640/8 | €7,052 | €12,385 | +€5,333 | +75.6% |
| Operating profit (loss) | 9901 | -€65,399 | -€229,646 | -€164,247 | -251.1% |
| Financial income | 75/76B | €12,114,330 | €22,355,195 | +€10.2m | +84.5% |
| Recurring financial income | 75 | €12,114,330 | €22,355,195 | +€10.2m | +84.5% |
| Income from financial fixed assets | 750 | €11,464,694 | €21,802,391 | +€10.3m | +90.2% |
| Income from current assets | 751 | €594,931 | €513,702 | -€81,229 | -13.7% |
| Other financial income | 752/9 | €54,705 | €39,102 | -€15,603 | -28.5% |
| Financial charges | 65/66B | €141,708 | €43,647 | -€98,061 | -69.2% |
| Recurring financial charges | 65 | €141,708 | €43,647 | -€98,061 | -69.2% |
| Debt charges | 650 | €92,503 | €42,446 | -€50,057 | -54.1% |
| Other financial charges | 652/9 | €49,205 | €1,201 | -€48,004 | -97.6% |
| Profit (loss) for the period before taxes | 9903 | €11,907,223 | €22,081,902 | +€10.2m | +85.4% |
| Income taxes | 67/77 | €9,841 | €8,205 | -€1,636 | -16.6% |
| Taxes | 670/3 | €9,841 | €8,205 | -€1,636 | -16.6% |
| Profit (loss) for the period | 9904 | €11,897,382 | €22,073,697 | +€10.2m | +85.5% |
| Profit (loss) for the period to be appropriated | 9905 | €11,897,382 | €22,073,697 | +€10.2m | +85.5% |
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 3 October 2026 via checked.be.